Public Employees Retirement Association of Colorado Cuts Stake in Schlumberger Limited (NYSE:SLB)

Public Employees Retirement Association of Colorado lowered its position in Schlumberger Limited (NYSE:SLB) by 4.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 188,687 shares of the oil and gas company’s stock after selling 9,019 shares during the quarter. Public Employees Retirement Association of Colorado’s holdings in Schlumberger were worth $7,234,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also bought and sold shares of the company. YANKCOM Partnership purchased a new stake in shares of Schlumberger during the fourth quarter valued at approximately $31,000. Stonebridge Financial Group LLC purchased a new stake in shares of Schlumberger during the fourth quarter valued at approximately $32,000. Golden State Wealth Management LLC purchased a new stake in shares of Schlumberger during the fourth quarter valued at approximately $34,000. Hager Investment Management Services LLC purchased a new stake in shares of Schlumberger during the fourth quarter valued at approximately $38,000. Finally, Bogart Wealth LLC boosted its stake in shares of Schlumberger by 468.9% during the fourth quarter. Bogart Wealth LLC now owns 1,024 shares of the oil and gas company’s stock valued at $39,000 after purchasing an additional 844 shares during the period. Hedge funds and other institutional investors own 81.99% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on SLB shares. Susquehanna dropped their price objective on Schlumberger from $48.00 to $46.00 and set a “positive” rating for the company in a research note on Monday. JPMorgan Chase & Co. upped their target price on Schlumberger from $48.00 to $50.00 and gave the company an “overweight” rating in a report on Tuesday, January 21st. TD Cowen upped their target price on Schlumberger from $53.00 to $55.00 and gave the company a “buy” rating in a report on Tuesday, January 21st. BMO Capital Markets decreased their target price on Schlumberger from $53.00 to $48.00 in a report on Thursday, January 16th. Finally, Stifel Nicolaus decreased their target price on Schlumberger from $58.00 to $54.00 and set a “buy” rating for the company in a report on Monday. Five investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $53.50.

Insider Activity

In related news, insider Aparna Raman sold 25,133 shares of the stock in a transaction that occurred on Friday, March 28th. The shares were sold at an average price of $42.28, for a total transaction of $1,062,623.24. Following the transaction, the insider now owns 31,031 shares in the company, valued at $1,311,990.68. This represents a 44.75 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Bejar Carmen Rando sold 5,524 shares of the stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $40.41, for a total transaction of $223,224.84. Following the transaction, the insider now owns 30,829 shares in the company, valued at approximately $1,245,799.89. This trade represents a 15.20 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 117,647 shares of company stock valued at $4,876,679 over the last three months. Insiders own 0.26% of the company’s stock.

Schlumberger Price Performance

Shares of NYSE:SLB opened at $34.09 on Tuesday. Schlumberger Limited has a 1-year low of $31.11 and a 1-year high of $50.94. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.45 and a quick ratio of 1.11. The business has a fifty day moving average price of $38.45 and a 200-day moving average price of $40.29. The company has a market capitalization of $46.36 billion, a PE ratio of 10.96, a PEG ratio of 10.10 and a beta of 1.11.

Schlumberger (NYSE:SLB) last issued its quarterly earnings results on Friday, April 25th. The oil and gas company reported $0.72 earnings per share for the quarter, missing the consensus estimate of $0.73 by ($0.01). Schlumberger had a net margin of 12.29% and a return on equity of 21.90%. The company had revenue of $8.49 billion for the quarter, compared to the consensus estimate of $8.64 billion. During the same quarter in the previous year, the business earned $0.75 earnings per share. Schlumberger’s revenue was down 2.5% compared to the same quarter last year. As a group, equities analysts expect that Schlumberger Limited will post 3.38 EPS for the current fiscal year.

Schlumberger Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 10th. Stockholders of record on Wednesday, June 4th will be paid a $0.285 dividend. The ex-dividend date is Wednesday, June 4th. This represents a $1.14 dividend on an annualized basis and a dividend yield of 3.34%. Schlumberger’s dividend payout ratio is presently 38.64%.

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.