Schlumberger Limited (NYSE:SLB) Stake Reduced by BNP PARIBAS ASSET MANAGEMENT Holding S.A.

BNP PARIBAS ASSET MANAGEMENT Holding S.A. decreased its holdings in shares of Schlumberger Limited (NYSE:SLB) by 3.5% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 207,109 shares of the oil and gas company’s stock after selling 7,438 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A.’s holdings in Schlumberger were worth $8,688,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently made changes to their positions in SLB. Bruce G. Allen Investments LLC grew its position in Schlumberger by 204.2% in the second quarter. Bruce G. Allen Investments LLC now owns 584 shares of the oil and gas company’s stock worth $28,000 after buying an additional 392 shares during the last quarter. ORG Partners LLC grew its holdings in shares of Schlumberger by 393.5% in the 3rd quarter. ORG Partners LLC now owns 607 shares of the oil and gas company’s stock worth $25,000 after acquiring an additional 484 shares during the last quarter. Unique Wealth Strategies LLC acquired a new stake in shares of Schlumberger during the second quarter worth $30,000. Riverview Trust Co raised its position in shares of Schlumberger by 90.6% during the second quarter. Riverview Trust Co now owns 648 shares of the oil and gas company’s stock worth $31,000 after purchasing an additional 308 shares during the period. Finally, Prospera Private Wealth LLC purchased a new stake in shares of Schlumberger during the third quarter valued at $29,000. Institutional investors and hedge funds own 81.99% of the company’s stock.

Schlumberger Stock Performance

SLB stock opened at $44.23 on Monday. The firm has a 50 day moving average of $42.78 and a two-hundred day moving average of $44.53. Schlumberger Limited has a 12 month low of $38.66 and a 12 month high of $55.69. The company has a market capitalization of $62.46 billion, a price-to-earnings ratio of 14.22, a P/E/G ratio of 1.56 and a beta of 1.52. The company has a quick ratio of 1.12, a current ratio of 1.48 and a debt-to-equity ratio of 0.52.

Schlumberger (NYSE:SLB) last issued its quarterly earnings data 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 firm had revenue of $9.16 billion during the quarter, compared to analysts’ expectations of $9.27 billion. During the same period in the prior year, the company posted $0.78 earnings per share. Schlumberger’s revenue for the quarter was up 10.2% on a year-over-year basis. As a group, equities analysts anticipate that Schlumberger Limited will post 3.39 EPS for the current fiscal year.

Schlumberger Announces Dividend

The business also recently announced 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. The ex-dividend date of this dividend is Wednesday, December 4th. This represents a $1.10 annualized dividend and a yield of 2.49%. Schlumberger’s dividend payout ratio (DPR) is currently 35.37%.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Citigroup cut their price objective on Schlumberger from $60.00 to $54.00 and set a “buy” rating on the stock in a report on Tuesday, October 22nd. Barclays cut their price target on shares of Schlumberger from $67.00 to $63.00 and set an “overweight” rating on the stock in a report on Wednesday, October 16th. Susquehanna decreased their price objective on shares of Schlumberger from $60.00 to $56.00 and set a “positive” rating for the company in a research note on Monday, October 21st. UBS Group cut their target price on shares of Schlumberger from $63.00 to $57.00 and set a “buy” rating on the stock in a research note on Wednesday, September 18th. Finally, Morgan Stanley decreased their target price on Schlumberger from $65.00 to $60.00 and set an “overweight” rating for the company in a research report 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. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $60.97.

Insiders Place Their Bets

In other Schlumberger news, EVP Abdellah Merad sold 60,000 shares of the business’s stock in a transaction 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 completion of the transaction, the executive vice president now owns 211,937 shares of the company’s stock, valued at $8,880,160.30. The trade was a 22.06 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.26% of the company’s stock.

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.