OVERSEA CHINESE BANKING Corp Ltd Reduces Holdings in Schlumberger Limited (NYSE:SLB)

OVERSEA CHINESE BANKING Corp Ltd decreased its position in shares of Schlumberger Limited (NYSE:SLB) by 35.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,237 shares of the oil and gas company’s stock after selling 3,929 shares during the period. OVERSEA CHINESE BANKING Corp Ltd’s holdings in Schlumberger were worth $377,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. BluePath Capital Management LLC acquired a new position in Schlumberger in the 3rd quarter valued at about $25,000. Acadian Asset Management LLC purchased a new position in shares of Schlumberger in the 1st quarter valued at approximately $25,000. Turtle Creek Wealth Advisors LLC acquired a new position in shares of Schlumberger in the fourth quarter valued at approximately $26,000. Coppell Advisory Solutions LLC purchased a new stake in shares of Schlumberger during the second quarter worth approximately $27,000. Finally, MCF Advisors LLC lifted its holdings in shares of Schlumberger by 1,355.9% during the third quarter. MCF Advisors LLC now owns 495 shares of the oil and gas company’s stock worth $29,000 after purchasing an additional 461 shares during the period. Hedge funds and other institutional investors own 81.99% of the company’s stock.

Insider Activity

In related news, EVP Mogharbel Khaled Al sold 38,570 shares of the business’s stock in a transaction dated Tuesday, January 23rd. The stock was sold at an average price of $50.42, for a total value of $1,944,699.40. Following the transaction, the executive vice president now owns 386,841 shares in the company, valued at $19,504,523.22. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, EVP Mogharbel Khaled Al sold 38,570 shares of the firm’s stock in a transaction that occurred on Tuesday, January 23rd. The shares were sold at an average price of $50.42, for a total transaction of $1,944,699.40. Following the completion of the sale, the executive vice president now owns 386,841 shares of the company’s stock, valued at $19,504,523.22. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Stephane Biguet sold 6,250 shares of the company’s stock in a transaction on Monday, January 29th. The shares were sold at an average price of $52.78, for a total transaction of $329,875.00. Following the completion of the sale, the chief financial officer now directly owns 249,182 shares in the company, valued at $13,151,825.96. The disclosure for this sale can be found here. Insiders sold 172,191 shares of company stock worth $8,636,322 over the last ninety days. Corporate insiders own 0.26% of the company’s stock.

Analyst Upgrades and Downgrades

SLB has been the subject of a number of analyst reports. HSBC restated a “buy” rating and set a $71.00 price objective on shares of Schlumberger in a research report on Thursday, April 4th. Wells Fargo & Company raised their price objective on shares of Schlumberger from $69.00 to $70.00 and gave the company an “overweight” rating in a research report on Monday, January 22nd. Barclays dropped their target price on Schlumberger from $74.00 to $70.00 and set an “overweight” rating on the stock in a research report on Thursday, April 4th. The Goldman Sachs Group reissued a “buy” rating on shares of Schlumberger in a report on Monday, April 1st. Finally, Royal Bank of Canada upped their price objective on Schlumberger from $66.00 to $69.00 and gave the stock an “outperform” rating in a report on Wednesday, April 3rd. One analyst has rated the stock with a hold rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $70.31.

Schlumberger Price Performance

Schlumberger stock opened at $49.85 on Monday. The company has a quick ratio of 1.02, a current ratio of 1.37 and a debt-to-equity ratio of 0.49. The firm has a market capitalization of $71.16 billion, a P/E ratio of 16.56, a PEG ratio of 0.95 and a beta of 1.60. The firm has a fifty day moving average of $51.62 and a 200-day moving average of $52.36. Schlumberger Limited has a 52-week low of $42.73 and a 52-week high of $62.12.

Schlumberger (NYSE:SLB) last released its quarterly earnings results on Friday, April 19th. The oil and gas company reported $0.75 EPS for the quarter, hitting the consensus estimate of $0.75. The firm had revenue of $8.71 billion for the quarter, compared to analyst estimates of $8.70 billion. Schlumberger had a return on equity of 21.88% and a net margin of 12.72%. Schlumberger’s revenue for the quarter was up 12.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.63 EPS. As a group, analysts predict that Schlumberger Limited will post 3.51 EPS for the current year.

Schlumberger Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 11th. Shareholders of record on Wednesday, June 5th will be given a $0.275 dividend. This is a boost from Schlumberger’s previous quarterly dividend of $0.25. This represents a $1.10 dividend on an annualized basis and a yield of 2.21%. Schlumberger’s dividend payout ratio is presently 36.54%.

About Schlumberger

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.