DekaBank Deutsche Girozentrale Sells 41,380 Shares of Schlumberger Limited (NYSE:SLB)

DekaBank Deutsche Girozentrale reduced its position in Schlumberger Limited (NYSE:SLB) by 6.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 588,293 shares of the oil and gas company’s stock after selling 41,380 shares during the quarter. DekaBank Deutsche Girozentrale’s holdings in Schlumberger were worth $32,409,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Turtle Creek Wealth Advisors LLC bought a new position in Schlumberger in the fourth quarter worth about $26,000. Register Financial Advisors LLC bought a new position in Schlumberger in the first quarter worth about $27,000. Manchester Capital Management LLC raised its holdings in Schlumberger by 297.9% in the first quarter. Manchester Capital Management LLC now owns 569 shares of the oil and gas company’s stock worth $31,000 after purchasing an additional 426 shares in the last quarter. Transcendent Capital Group LLC bought a new position in Schlumberger in the fourth quarter worth about $32,000. Finally, Janiczek Wealth Management LLC raised its holdings in Schlumberger by 1,180.4% in the fourth quarter. Janiczek Wealth Management LLC now owns 653 shares of the oil and gas company’s stock worth $34,000 after purchasing an additional 602 shares in the last quarter. 81.99% of the stock is currently owned by institutional investors.

Schlumberger Stock Performance

NYSE:SLB traded down $1.73 during trading hours on Friday, reaching $44.93. The company had a trading volume of 11,848,368 shares, compared to its average volume of 9,014,375. Schlumberger Limited has a 1-year low of $42.61 and a 1-year high of $62.12. The firm has a market cap of $63.79 billion, a PE ratio of 14.93, a price-to-earnings-growth ratio of 0.99 and a beta of 1.55. The business’s 50 day moving average price is $46.31 and its 200-day moving average price is $48.91. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.49 and a quick ratio of 1.13.

Schlumberger (NYSE:SLB) last announced its quarterly earnings results on Friday, July 19th. The oil and gas company reported $0.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.83 by $0.02. Schlumberger had a return on equity of 21.92% and a net margin of 12.56%. The company had revenue of $9.14 billion during the quarter, compared to the consensus estimate of $9.08 billion. During the same period in the previous year, the company posted $0.72 earnings per share. Schlumberger’s revenue for the quarter was up 12.8% on a year-over-year basis. Research analysts forecast that Schlumberger Limited will post 3.49 EPS for the current year.

Schlumberger Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 10th. Stockholders of record on Wednesday, September 4th will be paid a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a dividend yield of 2.45%. The ex-dividend date of this dividend is Wednesday, September 4th. Schlumberger’s payout ratio is 36.54%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on SLB. Morgan Stanley reiterated an “overweight” rating and issued a $65.00 target price on shares of Schlumberger in a report on Monday, April 22nd. Stifel Nicolaus restated a “buy” rating and set a $64.00 price target on shares of Schlumberger in a research note on Monday, April 22nd. Wells Fargo & Company lowered Schlumberger from an “overweight” rating to an “equal weight” rating and dropped their price target for the stock from $68.00 to $53.00 in a research note on Monday, April 29th. Royal Bank of Canada restated an “outperform” rating and set a $69.00 price target on shares of Schlumberger in a research note on Monday, July 22nd. Finally, Citigroup dropped their price target on Schlumberger from $65.00 to $62.00 and set a “buy” rating on the stock in a research note on Friday, June 28th. Two equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to MarketBeat.com, Schlumberger currently has a consensus rating of “Moderate Buy” and a consensus price target of $67.56.

Insider Transactions at Schlumberger

In related news, insider Bejar Carmen Rando sold 4,980 shares of the stock in a transaction on Friday, June 7th. The stock was sold at an average price of $43.43, for a total value of $216,281.40. Following the completion of the transaction, the insider now directly owns 22,518 shares of the company’s stock, valued at approximately $977,956.74. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Schlumberger news, Director Vijay Kasibhatla sold 10,000 shares of the company’s stock in a transaction on Monday, July 22nd. The stock was sold at an average price of $49.29, for a total value of $492,900.00. Following the completion of the sale, the director now directly owns 62,354 shares in the company, valued at approximately $3,073,428.66. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Bejar Carmen Rando sold 4,980 shares of the company’s stock in a transaction on Friday, June 7th. The shares were sold at an average price of $43.43, for a total value of $216,281.40. Following the completion of the sale, the insider now owns 22,518 shares of the company’s stock, valued at $977,956.74. The disclosure for this sale can be found here. Insiders sold a total of 286,874 shares of company stock valued at $14,148,517 in the last three months. 0.26% of the stock is currently owned by company insiders.

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.