Independent Investors Inc. Cuts Holdings in Schlumberger Limited. (SLB)

Independent Investors Inc. lowered its holdings in shares of Schlumberger Limited. (NYSE:SLB) by 12.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 29,723 shares of the oil and gas company’s stock after selling 4,100 shares during the period. Independent Investors Inc.’s holdings in Schlumberger were worth $1,072,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Vanguard Group Inc. raised its position in Schlumberger by 0.7% during the third quarter. Vanguard Group Inc. now owns 108,726,647 shares of the oil and gas company’s stock worth $6,623,627,000 after acquiring an additional 735,605 shares during the last quarter. Vanguard Group Inc raised its position in Schlumberger by 0.7% during the third quarter. Vanguard Group Inc now owns 108,726,647 shares of the oil and gas company’s stock worth $6,623,627,000 after acquiring an additional 735,605 shares during the last quarter. Capital International Investors raised its position in Schlumberger by 62.5% during the third quarter. Capital International Investors now owns 33,296,194 shares of the oil and gas company’s stock worth $2,028,404,000 after acquiring an additional 12,810,020 shares during the last quarter. Bank of New York Mellon Corp raised its position in Schlumberger by 5.3% during the third quarter. Bank of New York Mellon Corp now owns 31,019,971 shares of the oil and gas company’s stock worth $1,889,738,000 after acquiring an additional 1,558,478 shares during the last quarter. Finally, First Eagle Investment Management LLC raised its position in Schlumberger by 3.0% during the third quarter. First Eagle Investment Management LLC now owns 19,795,280 shares of the oil and gas company’s stock worth $1,205,928,000 after acquiring an additional 576,149 shares during the last quarter. Institutional investors own 77.67% of the company’s stock.

In related news, CFO Simon Ayat sold 60,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 30th. The shares were sold at an average price of $56.60, for a total value of $3,396,000.00. Following the completion of the sale, the chief financial officer now directly owns 234,008 shares in the company, valued at $13,244,852.80. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Patrick Schorn bought 10,000 shares of the stock in a transaction that occurred on Thursday, December 20th. The stock was bought at an average price of $37.55 per share, with a total value of $375,500.00. Following the completion of the acquisition, the executive vice president now owns 35,000 shares of the company’s stock, valued at approximately $1,314,250. The disclosure for this purchase can be found here. 0.48% of the stock is currently owned by insiders.

A number of brokerages have issued reports on SLB. Tudor Pickering cut shares of Schlumberger from a “buy” rating to a “hold” rating in a research report on Tuesday, October 2nd. HSBC upgraded shares of Schlumberger from a “hold” rating to a “buy” rating in a research report on Sunday, December 2nd. Credit Suisse Group cut their price objective on shares of Schlumberger from $82.00 to $71.00 and set an “outperform” rating for the company in a research report on Monday, October 22nd. UBS Group cut their price objective on shares of Schlumberger from $92.00 to $75.00 and set a “buy” rating for the company in a research report on Monday, October 22nd. Finally, Barclays set a $58.00 price objective on shares of Schlumberger and gave the company a “hold” rating in a research report on Monday, December 10th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and sixteen have assigned a buy rating to the company’s stock. Schlumberger has an average rating of “Buy” and a consensus price target of $70.11.

NYSE:SLB opened at $41.74 on Monday. The company has a quick ratio of 0.85, a current ratio of 1.13 and a debt-to-equity ratio of 0.38. The company has a market capitalization of $57.11 billion, a PE ratio of 27.83, a PEG ratio of 3.27 and a beta of 1.16. Schlumberger Limited. has a 1-year low of $34.99 and a 1-year high of $80.35.

Schlumberger (NYSE:SLB) last posted its quarterly earnings data on Friday, October 19th. The oil and gas company reported $0.46 earnings per share for the quarter, beating analysts’ consensus estimates of $0.45 by $0.01. Schlumberger had a negative net margin of 2.00% and a positive return on equity of 6.55%. The business had revenue of $8.50 billion during the quarter, compared to analyst estimates of $8.57 billion. During the same quarter in the previous year, the business posted $0.42 earnings per share. The company’s revenue was up 7.6% on a year-over-year basis. Research analysts anticipate that Schlumberger Limited. will post 1.63 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 2nd. Investors of record on Wednesday, December 5th were issued a $0.50 dividend. The ex-dividend date of this dividend was Tuesday, December 4th. This represents a $2.00 dividend on an annualized basis and a yield of 4.79%. Schlumberger’s payout ratio is 133.33%.

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Schlumberger Profile

Schlumberger Limited supplies technology products and services to the oil and gas exploration and production industry worldwide. The company's Reservoir Characterization Group segment provides reservoir interpretation and data processing services; open and cased-hole services; slickline services; exploration and production pressure and flow-rate measurement services at the surface and downhole; software integrated solutions, such as software, consulting, information management, and IT infrastructure services; consulting services for reservoir characterization, field development planning, and production enhancement; and petrotechnical data services and training solutions, as well as integrated management services.

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Institutional Ownership by Quarter for Schlumberger (NYSE:SLB)

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