Schlumberger Limited (NYSE:SLB) Shares Sold by First Manhattan CO. LLC.

First Manhattan CO. LLC. cut its holdings in shares of Schlumberger Limited (NYSE:SLB) by 5.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 116,827 shares of the oil and gas company’s stock after selling 7,217 shares during the quarter. First Manhattan CO. LLC.’s holdings in Schlumberger were worth $4,511,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also made changes to their positions in the company. Principal Financial Group Inc. increased its stake in shares of Schlumberger by 8.0% during the third quarter. Principal Financial Group Inc. now owns 4,487,067 shares of the oil and gas company’s stock worth $188,232,000 after buying an additional 332,500 shares during the period. Diversified Trust Co lifted its position in Schlumberger by 7.4% in the fourth quarter. Diversified Trust Co now owns 19,344 shares of the oil and gas company’s stock valued at $742,000 after acquiring an additional 1,331 shares during the last quarter. Fulton Bank N.A. boosted its position in shares of Schlumberger by 5.9% in the 4th quarter. Fulton Bank N.A. now owns 18,518 shares of the oil and gas company’s stock valued at $710,000 after purchasing an additional 1,029 shares during the period. ST Germain D J Co. Inc. boosted its holdings in shares of Schlumberger by 0.9% in the fourth quarter. ST Germain D J Co. Inc. now owns 706,511 shares of the oil and gas company’s stock valued at $27,088,000 after acquiring an additional 6,505 shares during the period. Finally, Hilltop National Bank increased its holdings in shares of Schlumberger by 70.2% in the 4th quarter. Hilltop National Bank now owns 7,522 shares of the oil and gas company’s stock valued at $288,000 after acquiring an additional 3,102 shares during the period. 81.99% of the stock is currently owned by institutional investors and hedge funds.

Schlumberger Trading Up 0.6 %

Shares of Schlumberger stock opened at $34.51 on Friday. The firm has a market cap of $46.94 billion, a PE ratio of 11.10, a P/E/G ratio of 10.10 and a beta of 1.06. The company has a quick ratio of 1.11, a current ratio of 1.45 and a debt-to-equity ratio of 0.49. Schlumberger Limited has a fifty-two week low of $31.11 and a fifty-two week high of $50.94. The business’s fifty day moving average is $37.18 and its two-hundred day moving average is $39.76.

Schlumberger (NYSE:SLB) last issued its quarterly earnings results on Friday, April 25th. The oil and gas company reported $0.72 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.01). Schlumberger had a return on equity of 21.90% and a net margin of 12.29%. The business had revenue of $8.49 billion during the quarter, compared to analyst estimates of $8.64 billion. During the same period in the previous year, the business posted $0.75 earnings per share. The firm’s quarterly revenue was down 2.5% on a year-over-year basis. Analysts anticipate that Schlumberger Limited will post 3.38 earnings per share for the current year.

Schlumberger Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 10th. Investors of record on Wednesday, June 4th will be given a dividend of $0.285 per share. This represents a $1.14 annualized dividend and a yield of 3.30%. The ex-dividend date of this dividend is Wednesday, June 4th. Schlumberger’s dividend payout ratio (DPR) is 38.64%.

Insiders Place Their Bets

In other Schlumberger news, insider Gavin Rennick sold 26,990 shares of Schlumberger stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $40.92, for a total transaction of $1,104,430.80. Following the transaction, the insider now directly owns 53,584 shares of the company’s stock, valued at $2,192,657.28. The trade was a 33.50 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Aparna Raman sold 25,133 shares of the stock in a transaction on Friday, March 28th. The stock was sold at an average price of $42.28, for a total transaction of $1,062,623.24. Following the completion of the sale, the insider now directly owns 31,031 shares of the company’s stock, valued at $1,311,990.68. The trade was a 44.75 % decrease in their position. The disclosure for this sale can be found here. 0.26% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the stock. BMO Capital Markets reduced their target price on shares of Schlumberger from $53.00 to $48.00 in a report on Thursday, January 16th. Barclays lowered their price target on shares of Schlumberger from $53.00 to $48.00 and set an “overweight” rating on the stock in a research note on Friday, April 25th. Evercore ISI reaffirmed an “in-line” rating and issued a $44.00 price objective (down from $62.00) on shares of Schlumberger in a research note on Wednesday, January 15th. Citigroup upped their target price on Schlumberger from $50.00 to $54.00 and gave the company a “buy” rating in a report on Tuesday, January 21st. Finally, TD Cowen boosted their price objective on shares of Schlumberger from $53.00 to $55.00 and gave the stock a “buy” rating in a research report on Tuesday, January 21st. Five equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $53.32.

Schlumberger Profile

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, and integration of adjacent energy systems; reservoir interpretation and data processing services for exploration data; and well construction and production improvement services and products.