Marco Investment Management LLC Lowers Stock Holdings in Schlumberger Limited (NYSE:SLB)

Marco Investment Management LLC reduced its position in Schlumberger Limited (NYSE:SLB) by 4.2% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 12,907 shares of the oil and gas company’s stock after selling 565 shares during the quarter. Marco Investment Management LLC’s holdings in Schlumberger were worth $541,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of the company. Pekin Hardy Strauss Inc. lifted its position in Schlumberger by 7.1% in the 3rd quarter. Pekin Hardy Strauss Inc. now owns 24,636 shares of the oil and gas company’s stock worth $1,033,000 after buying an additional 1,625 shares during the last quarter. SevenBridge Financial Group LLC raised its stake in shares of Schlumberger by 6.7% during the third quarter. SevenBridge Financial Group LLC now owns 7,169 shares of the oil and gas company’s stock worth $317,000 after acquiring an additional 450 shares in the last quarter. Sompo Asset Management Co. Ltd. lifted its holdings in shares of Schlumberger by 44.5% in the 3rd quarter. Sompo Asset Management Co. Ltd. now owns 11,360 shares of the oil and gas company’s stock worth $477,000 after acquiring an additional 3,500 shares during the last quarter. Penserra Capital Management LLC boosted its stake in shares of Schlumberger by 9,041.9% in the 3rd quarter. Penserra Capital Management LLC now owns 10,696 shares of the oil and gas company’s stock valued at $448,000 after purchasing an additional 10,579 shares in the last quarter. Finally, English Capital Management LLC grew its holdings in shares of Schlumberger by 34.4% during the 3rd quarter. English Capital Management LLC now owns 90,106 shares of the oil and gas company’s stock valued at $3,780,000 after purchasing an additional 23,040 shares during the last quarter. 81.99% of the stock is currently owned by institutional investors.

Insider Activity

In other Schlumberger news, EVP Abdellah Merad sold 60,000 shares of the firm’s stock in a transaction that occurred on Thursday, October 24th. The shares were sold at an average price of $41.90, for a total transaction of $2,514,000.00. Following the sale, the executive vice president now owns 211,937 shares in the company, valued at approximately $8,880,160.30. This trade represents a 22.06 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.26% of the company’s stock.

Schlumberger Trading Up 0.4 %

Shares of SLB opened at $44.23 on Friday. Schlumberger Limited has a 1-year low of $38.66 and a 1-year high of $55.69. The company has a current ratio of 1.48, a quick ratio of 1.12 and a debt-to-equity ratio of 0.52. The firm’s 50-day moving average price is $42.78 and its 200-day moving average price is $44.55. The firm has a market capitalization of $62.46 billion, a price-to-earnings ratio of 14.22, a PEG ratio of 1.56 and a beta of 1.52.

Schlumberger (NYSE:SLB) last announced its quarterly earnings data on Friday, October 18th. The oil and gas company reported $0.89 earnings per share for the quarter, topping analysts’ consensus estimates of $0.88 by $0.01. Schlumberger had a net margin of 12.44% and a return on equity of 21.84%. The business had revenue of $9.16 billion for the quarter, compared to analysts’ expectations of $9.27 billion. During the same quarter in the prior year, the company earned $0.78 earnings per share. The business’s revenue was up 10.2% compared to the same quarter last year. Sell-side analysts anticipate that Schlumberger Limited will post 3.39 EPS for the current year.

Schlumberger Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 9th. Investors of record on Wednesday, December 4th will be issued a $0.275 dividend. This represents a $1.10 annualized dividend and a dividend yield of 2.49%. The ex-dividend date is Wednesday, December 4th. Schlumberger’s payout ratio is currently 35.37%.

Wall Street Analyst Weigh In

SLB has been the subject of several recent research reports. Royal Bank of Canada reissued an “outperform” rating and issued a $69.00 price target on shares of Schlumberger in a research note on Thursday, October 3rd. UBS Group lowered their target price on Schlumberger from $63.00 to $57.00 and set a “buy” rating for the company in a research note on Wednesday, September 18th. Barclays dropped their target price on Schlumberger from $67.00 to $63.00 and set an “overweight” rating for the company in a report on Wednesday, October 16th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $60.00 price target (down from $62.00) on shares of Schlumberger in a research note on Monday, October 21st. Finally, BMO Capital Markets dropped their price objective on Schlumberger from $60.00 to $58.00 and set an “outperform” rating for the company in a research note on Thursday, October 10th. Two analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Schlumberger currently has an average rating of “Moderate Buy” and an average target price of $60.97.

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.