Schlumberger Limited (NYSE:SLB) Position Trimmed by Calamos Advisors LLC

Calamos Advisors LLC lowered its position in shares of Schlumberger Limited (NYSE:SLB) by 1.2% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 560,157 shares of the oil and gas company’s stock after selling 6,566 shares during the period. Calamos Advisors LLC’s holdings in Schlumberger were worth $26,428,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Capital World Investors lifted its holdings in Schlumberger by 72.3% in the 1st quarter. Capital World Investors now owns 88,950,956 shares of the oil and gas company’s stock valued at $4,875,402,000 after acquiring an additional 37,333,485 shares during the last quarter. Norges Bank purchased a new stake in shares of Schlumberger in the fourth quarter worth approximately $1,000,292,000. Price T Rowe Associates Inc. MD lifted its position in shares of Schlumberger by 14.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 85,986,039 shares of the oil and gas company’s stock worth $4,712,897,000 after purchasing an additional 10,606,191 shares in the last quarter. Winslow Capital Management LLC lifted its position in shares of Schlumberger by 123,063.5% in the fourth quarter. Winslow Capital Management LLC now owns 4,347,671 shares of the oil and gas company’s stock worth $226,253,000 after purchasing an additional 4,344,141 shares in the last quarter. Finally, Boston Partners increased its holdings in Schlumberger by 35.8% in the first quarter. Boston Partners now owns 11,640,827 shares of the oil and gas company’s stock worth $635,883,000 after buying an additional 3,069,395 shares during the last quarter. Institutional investors own 81.99% of the company’s stock.

Schlumberger Trading Up 2.3 %

SLB stock traded up $1.00 during midday trading on Friday, reaching $45.12. The stock had a trading volume of 6,244,495 shares, compared to its average volume of 10,669,561. The business has a fifty day simple moving average of $46.13 and a two-hundred day simple moving average of $48.29. The company has a quick ratio of 1.13, a current ratio of 1.49 and a debt-to-equity ratio of 0.55. The firm has a market cap of $64.49 billion, a price-to-earnings ratio of 14.99, a PEG ratio of 0.96 and a beta of 1.55. Schlumberger Limited has a twelve month low of $42.61 and a twelve month high of $62.12.

Schlumberger (NYSE:SLB) last posted its earnings results on Friday, July 19th. The oil and gas company reported $0.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.83 by $0.02. Schlumberger had a return on equity of 21.92% and a net margin of 12.56%. The company had revenue of $9.14 billion during the quarter, compared to analyst estimates of $9.08 billion. During the same period in the previous year, the company earned $0.72 EPS. The company’s revenue for the quarter was up 12.8% compared to the same quarter last year. As a group, research analysts expect that Schlumberger Limited will post 3.49 EPS for the current fiscal year.

Schlumberger Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 10th. Shareholders of record on Wednesday, September 4th will be paid a $0.275 dividend. This represents a $1.10 annualized dividend and a yield of 2.44%. The ex-dividend date is Wednesday, September 4th. Schlumberger’s payout ratio is 36.54%.

Insider Buying and Selling at Schlumberger

In other Schlumberger news, Director Vijay Kasibhatla sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, July 22nd. The stock was sold at an average price of $49.29, for a total value of $492,900.00. Following the sale, the director now owns 62,354 shares in the company, valued at approximately $3,073,428.66. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, insider Bejar Carmen Rando sold 4,980 shares of the business’s stock in a transaction that occurred on Friday, June 7th. The stock was sold at an average price of $43.43, for a total transaction of $216,281.40. Following the transaction, the insider now directly owns 22,518 shares of the company’s stock, valued at approximately $977,956.74. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Vijay Kasibhatla sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, July 22nd. The stock was sold at an average price of $49.29, for a total value of $492,900.00. Following the transaction, the director now directly owns 62,354 shares in the company, valued at $3,073,428.66. The disclosure for this sale can be found here. In the last quarter, insiders have sold 185,696 shares of company stock worth $9,264,905. Corporate insiders own 0.26% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the company. Citigroup lowered their price target on Schlumberger from $65.00 to $62.00 and set a “buy” rating on the stock in a report on Friday, June 28th. UBS Group lowered their price target on Schlumberger from $67.00 to $63.00 and set a “buy” rating on the stock in a report on Tuesday, August 20th. StockNews.com downgraded Schlumberger from a “buy” rating to a “hold” rating in a report on Thursday, June 6th. Royal Bank of Canada reiterated an “outperform” rating and set a $69.00 price target on shares of Schlumberger in a report on Monday, July 22nd. Finally, Wells Fargo & Company cut Schlumberger from an “overweight” rating to an “equal weight” rating and reduced their price objective for the company from $68.00 to $53.00 in a research report on Monday, April 29th. Two analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. Based on data from MarketBeat, Schlumberger has an average rating of “Moderate Buy” and an average price target of $67.00.

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.