Schlumberger Limited (NYSE:SLB) Shares Sold by Assetmark Inc.

Assetmark Inc. lessened its holdings in shares of Schlumberger Limited (NYSE:SLB) by 22.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 38,213 shares of the oil and gas company’s stock after selling 11,114 shares during the period. Assetmark Inc.’s holdings in Schlumberger were worth $1,603,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Capital World Investors grew its stake in shares of Schlumberger by 72.3% in the first quarter. Capital World Investors now owns 88,950,956 shares of the oil and gas company’s stock worth $4,875,402,000 after purchasing an additional 37,333,485 shares in the last quarter. Price T Rowe Associates Inc. MD grew its position in Schlumberger by 14.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 85,986,039 shares of the oil and gas company’s stock valued at $4,712,897,000 after buying an additional 10,606,191 shares in the last quarter. Boston Partners increased its stake in Schlumberger by 35.8% during the 1st quarter. Boston Partners now owns 11,640,827 shares of the oil and gas company’s stock valued at $635,883,000 after buying an additional 3,069,395 shares during the period. Ceredex Value Advisors LLC bought a new stake in shares of Schlumberger during the 2nd quarter worth about $92,944,000. Finally, 1832 Asset Management L.P. acquired a new stake in shares of Schlumberger in the 2nd quarter worth approximately $91,364,000. 81.99% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the stock. Wells Fargo & Company lowered their price objective on shares of Schlumberger from $53.00 to $49.00 and set an “equal weight” rating on the stock in a research note on Wednesday, September 25th. Benchmark restated a “buy” rating and issued a $68.00 price objective on shares of Schlumberger in a report on Monday, July 22nd. UBS Group lowered their target price on Schlumberger from $63.00 to $57.00 and set a “buy” rating on the stock in a report on Wednesday, September 18th. BMO Capital Markets cut their price target on shares of Schlumberger from $60.00 to $58.00 and set an “outperform” rating for the company in a report on Thursday, October 10th. Finally, Morgan Stanley lowered their price objective on shares of Schlumberger from $65.00 to $60.00 and set an “overweight” rating on the stock in a research note on Monday, September 16th. Two analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Schlumberger presently has an average rating of “Moderate Buy” and an average target price of $60.97.

Insider Buying and Selling

In other Schlumberger news, EVP Abdellah Merad sold 60,000 shares of the business’s stock in a transaction dated Thursday, October 24th. The stock was sold at an average price of $41.90, for a total value of $2,514,000.00. Following the transaction, the executive vice president now owns 211,937 shares in the company, valued at $8,880,160.30. The trade was a 22.06 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.26% of the stock is owned by corporate insiders.

Schlumberger Stock Down 0.3 %

Shares of Schlumberger stock opened at $43.45 on Friday. Schlumberger Limited has a 1 year low of $38.66 and a 1 year high of $55.69. The company has a market cap of $61.36 billion, a P/E ratio of 14.02, a P/E/G ratio of 1.56 and a beta of 1.52. 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 stock has a 50-day moving average price of $42.31 and a 200 day moving average price of $44.76.

Schlumberger (NYSE:SLB) last posted its quarterly earnings results on Friday, October 18th. The oil and gas company reported $0.89 earnings per share (EPS) 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 during the quarter, compared to analyst estimates of $9.27 billion. During the same period in the prior year, the firm earned $0.78 earnings per share. The firm’s revenue was up 10.2% compared to the same quarter last year. As a group, analysts expect that Schlumberger Limited will post 3.4 EPS for the current fiscal year.

Schlumberger Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 9th. Stockholders of record on Wednesday, December 4th will be paid a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a dividend yield of 2.53%. The ex-dividend date of this dividend is Wednesday, December 4th. Schlumberger’s dividend payout ratio (DPR) is presently 35.37%.

Schlumberger Company 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.