Public Sector Pension Investment Board Sells 1,655,160 Shares of Schlumberger Limited (NYSE:SLB)

Public Sector Pension Investment Board lessened its holdings in shares of Schlumberger Limited (NYSE:SLB) by 87.0% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 246,553 shares of the oil and gas company’s stock after selling 1,655,160 shares during the period. Public Sector Pension Investment Board’s holdings in Schlumberger were worth $10,343,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in SLB. Crescent Grove Advisors LLC bought a new position in Schlumberger in the second quarter valued at about $257,000. Victory Capital Management Inc. boosted its holdings in Schlumberger by 8.7% in the third quarter. Victory Capital Management Inc. now owns 817,771 shares of the oil and gas company’s stock valued at $34,305,000 after acquiring an additional 65,318 shares during the last quarter. Concurrent Investment Advisors LLC boosted its holdings in Schlumberger by 269.1% in the third quarter. Concurrent Investment Advisors LLC now owns 19,718 shares of the oil and gas company’s stock valued at $827,000 after acquiring an additional 14,376 shares during the last quarter. Los Angeles Capital Management LLC boosted its holdings in Schlumberger by 26.0% in the third quarter. Los Angeles Capital Management LLC now owns 307,040 shares of the oil and gas company’s stock valued at $12,880,000 after acquiring an additional 63,413 shares during the last quarter. Finally, Townsend Asset Management Corp NC ADV bought a new position in Schlumberger in the third quarter valued at about $2,063,000. Institutional investors own 81.99% of the company’s stock.

Schlumberger Stock Up 0.4 %

Shares of Schlumberger stock opened at $43.66 on Friday. The business’s 50 day simple moving average is $42.95 and its 200 day simple moving average is $44.45. Schlumberger Limited has a 52-week low of $38.66 and a 52-week high of $55.69. The firm has a market cap of $61.65 billion, a PE ratio of 14.04, a P/E/G ratio of 1.54 and a beta of 1.52. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.12 and a current ratio of 1.48.

Schlumberger (NYSE:SLB) last announced its earnings results on Friday, October 18th. The oil and gas company reported $0.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.88 by $0.01. Schlumberger had a return on equity of 21.84% and a net margin of 12.44%. The business had revenue of $9.16 billion for the quarter, compared to analyst estimates of $9.27 billion. During the same quarter last year, the firm earned $0.78 EPS. Schlumberger’s revenue for the quarter was up 10.2% compared to the same quarter last year. On average, analysts predict that Schlumberger Limited will post 3.39 earnings per share for the current fiscal year.

Schlumberger Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 9th. Investors of record on Wednesday, December 4th will be given a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a yield of 2.52%. The ex-dividend date of this dividend is Wednesday, December 4th. Schlumberger’s dividend payout ratio is presently 35.37%.

Analyst Ratings Changes

SLB has been the topic of several analyst reports. Dbs Bank initiated coverage on Schlumberger in a research note on Wednesday, September 18th. They issued a “buy” rating and a $64.50 target price on the stock. Sanford C. Bernstein raised Schlumberger to a “strong-buy” rating in a research note on Tuesday, November 12th. Citigroup cut their target price on Schlumberger from $60.00 to $54.00 and set a “buy” rating on the stock in a research note on Tuesday, October 22nd. BMO Capital Markets cut their target price on Schlumberger from $60.00 to $58.00 and set an “outperform” rating on the stock in a research note on Thursday, October 10th. Finally, Barclays cut their target price on Schlumberger from $67.00 to $63.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 16th. Two research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $60.97.

Insider Activity at Schlumberger

In other Schlumberger news, EVP Abdellah Merad sold 60,000 shares of the firm’s stock in a transaction that occurred on Thursday, October 24th. The stock was sold at an average price of $41.90, for a total value of $2,514,000.00. Following the completion of the transaction, the executive vice president now directly owns 211,937 shares in the company, valued at $8,880,160.30. This trade represents a 22.06 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.26% of the stock is owned by insiders.

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.