Schlumberger Limited (NYSE:SLB) Stock Position Lowered by Tocqueville Asset Management L.P.

Tocqueville Asset Management L.P. decreased its position in shares of Schlumberger Limited (NYSE:SLBFree Report) by 10.4% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 442,303 shares of the oil and gas company’s stock after selling 51,200 shares during the period. Tocqueville Asset Management L.P.’s holdings in Schlumberger were worth $25,786,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Skba Capital Management LLC acquired a new stake in shares of Schlumberger during the 3rd quarter valued at about $203,000. Cyrus J. Lawrence LLC raised its position in Schlumberger by 0.7% during the third quarter. Cyrus J. Lawrence LLC now owns 137,087 shares of the oil and gas company’s stock valued at $7,992,000 after acquiring an additional 975 shares in the last quarter. WBI Investments Inc. acquired a new stake in Schlumberger in the third quarter valued at approximately $674,000. Sanders Capital LLC grew its position in Schlumberger by 34.9% in the third quarter. Sanders Capital LLC now owns 8,056,492 shares of the oil and gas company’s stock worth $469,693,000 after acquiring an additional 2,085,506 shares in the last quarter. Finally, Greenleaf Trust increased its stake in shares of Schlumberger by 7.1% during the 3rd quarter. Greenleaf Trust now owns 33,647 shares of the oil and gas company’s stock worth $1,962,000 after purchasing an additional 2,231 shares during the last quarter. Hedge funds and other institutional investors own 79.43% of the company’s stock.

Schlumberger Price Performance

NYSE SLB traded up $1.32 on Monday, hitting $48.40. 3,292,534 shares of the company were exchanged, compared to its average volume of 14,541,062. Schlumberger Limited has a 1-year low of $42.73 and a 1-year high of $62.12. The firm has a 50 day moving average of $50.51 and a two-hundred day moving average of $54.94. The company has a current ratio of 1.32, a quick ratio of 1.00 and a debt-to-equity ratio of 0.51. The company has a market cap of $69.09 billion, a P/E ratio of 16.12, a P/E/G ratio of 0.84 and a beta of 1.61.

Schlumberger (NYSE:SLBGet Free Report) last announced its earnings results on Friday, January 19th. The oil and gas company reported $0.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.84 by $0.02. The company had revenue of $8.99 billion for the quarter, compared to analyst estimates of $8.96 billion. Schlumberger had a net margin of 12.68% and a return on equity of 21.97%. Schlumberger’s quarterly revenue was up 14.1% on a year-over-year basis. During the same period in the prior year, the business earned $0.71 earnings per share. On average, equities analysts predict that Schlumberger Limited will post 3.54 EPS for the current year.

Schlumberger Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 4th. Stockholders of record on Wednesday, February 7th will be paid a $0.25 dividend. The ex-dividend date is Tuesday, February 6th. This represents a $1.00 annualized dividend and a dividend yield of 2.07%. Schlumberger’s dividend payout ratio (DPR) is currently 34.25%.

Insider Transactions at Schlumberger

In other Schlumberger news, insider Gavin Rennick sold 20,045 shares of the business’s stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $48.77, for a total transaction of $977,594.65. Following the completion of the sale, the insider now directly owns 77,563 shares of the company’s stock, valued at approximately $3,782,747.51. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, EVP Mogharbel Khaled Al sold 38,570 shares of the stock in a transaction on Tuesday, January 23rd. The stock was sold at an average price of $50.42, for a total value of $1,944,699.40. Following the transaction, the executive vice president now owns 386,841 shares of the company’s stock, valued at approximately $19,504,523.22. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Gavin Rennick sold 20,045 shares of Schlumberger stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $48.77, for a total value of $977,594.65. Following the sale, the insider now directly owns 77,563 shares of the company’s stock, valued at $3,782,747.51. The disclosure for this sale can be found here. Insiders sold a total of 135,116 shares of company stock worth $6,923,671 over the last 90 days. 0.23% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on SLB. Barclays decreased their price objective on shares of Schlumberger from $77.00 to $74.00 and set an “overweight” rating for the company in a report on Monday, January 22nd. Stifel Nicolaus raised their price target on shares of Schlumberger from $63.00 to $64.00 and gave the stock a “buy” rating in a research report on Monday, January 22nd. Raymond James increased their target price on shares of Schlumberger from $68.00 to $72.00 and gave the company an “outperform” rating in a research note on Monday, October 23rd. Royal Bank of Canada restated an “outperform” rating and set a $66.00 price target on shares of Schlumberger in a research note on Thursday. Finally, Susquehanna raised their price objective on Schlumberger from $72.00 to $77.00 and gave the stock a “positive” rating in a research report on Monday, January 22nd. One analyst has rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $70.67.

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Schlumberger Profile

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Schlumberger Limited engages in the provision of technology for the energy industry worldwide. The company operates through four divisions: Digital & Integration, Reservoir Performance, Well Construction, and Production Systems. The company provides field development and hydrocarbon production, carbon management, integration of adjacent energy systems; reservoir interpretation and data processing services for exploration data; and well construction and production improvement services and products.

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Institutional Ownership by Quarter for Schlumberger (NYSE:SLB)

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