Ramirez Asset Management Inc. Sells 400 Shares of Schlumberger Limited $SLB

Ramirez Asset Management Inc. cut its stake in shares of Schlumberger Limited (NYSE:SLB) by 15.8% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,125 shares of the oil and gas company’s stock after selling 400 shares during the quarter. Ramirez Asset Management Inc.’s holdings in Schlumberger were worth $72,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also bought and sold shares of the company. Charles Schwab Investment Management Inc. raised its stake in shares of Schlumberger by 478.8% during the first quarter. Charles Schwab Investment Management Inc. now owns 47,719,476 shares of the oil and gas company’s stock worth $1,994,674,000 after acquiring an additional 39,474,501 shares in the last quarter. Boston Partners raised its stake in shares of Schlumberger by 27.7% during the first quarter. Boston Partners now owns 19,829,381 shares of the oil and gas company’s stock worth $824,160,000 after acquiring an additional 4,300,222 shares in the last quarter. Hotchkis & Wiley Capital Management LLC raised its stake in shares of Schlumberger by 211.1% during the first quarter. Hotchkis & Wiley Capital Management LLC now owns 5,992,997 shares of the oil and gas company’s stock worth $250,507,000 after acquiring an additional 4,066,500 shares in the last quarter. Nuveen LLC purchased a new position in shares of Schlumberger during the first quarter worth approximately $169,232,000. Finally, Banque Transatlantique SA raised its stake in shares of Schlumberger by 21,737.8% during the first quarter. Banque Transatlantique SA now owns 1,859,274 shares of the oil and gas company’s stock worth $71,821,000 after acquiring an additional 1,850,760 shares in the last quarter. 81.99% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have commented on SLB shares. Jefferies Financial Group decreased their price target on shares of Schlumberger from $54.00 to $53.00 and set a “buy” rating on the stock in a research note on Thursday, June 26th. Barclays decreased their price target on shares of Schlumberger from $47.00 to $46.00 and set an “overweight” rating on the stock in a research note on Monday, July 21st. Melius Research started coverage on shares of Schlumberger in a research note on Wednesday, August 20th. They set a “buy” rating and a $82.00 price target on the stock. UBS Group decreased their target price on shares of Schlumberger from $45.00 to $44.00 and set a “buy” rating on the stock in a research note on Wednesday, August 20th. Finally, Stifel Nicolaus decreased their target price on shares of Schlumberger from $54.00 to $52.00 and set a “buy” rating on the stock in a research note on Wednesday, July 16th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $52.18.

Insiders Place Their Bets

In related news, insider Dianne B. Ralston sold 39,727 shares of Schlumberger stock in a transaction on Friday, September 12th. The shares were sold at an average price of $36.08, for a total value of $1,433,350.16. Following the sale, the insider owned 202,201 shares in the company, valued at $7,295,412.08. The trade was a 16.42% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.22% of the stock is currently owned by company insiders.

Schlumberger Stock Down 4.2%

Shares of NYSE SLB opened at $31.75 on Friday. The company has a market cap of $47.42 billion, a price-to-earnings ratio of 10.87, a PEG ratio of 9.21 and a beta of 0.97. The firm’s fifty day moving average is $34.53 and its 200 day moving average is $34.91. Schlumberger Limited has a 52 week low of $31.11 and a 52 week high of $44.97. The company has a quick ratio of 0.98, a current ratio of 1.31 and a debt-to-equity ratio of 0.51.

Schlumberger (NYSE:SLB) last released its quarterly earnings results on Friday, July 18th. The oil and gas company reported $0.74 earnings per share for the quarter, beating the consensus estimate of $0.73 by $0.01. The business had revenue of $8.55 billion for the quarter, compared to analysts’ expectations of $8.51 billion. Schlumberger had a net margin of 11.53% and a return on equity of 20.99%. The firm’s revenue for the quarter was down 6.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.85 earnings per share. On average, equities research analysts expect that Schlumberger Limited will post 3.38 earnings per share for the current year.

Schlumberger Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, October 9th. Investors of record on Wednesday, September 3rd were issued a $0.285 dividend. The ex-dividend date was Wednesday, September 3rd. This represents a $1.14 annualized dividend and a yield of 3.6%. Schlumberger’s payout ratio is 39.04%.

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.