Stephens Inc. AR Decreases Holdings in Schlumberger Limited. (NYSE:SLB)

Stephens Inc. AR cut its holdings in shares of Schlumberger Limited. (NYSE:SLB) by 6.1% during the 2nd quarter, HoldingsChannel reports. The fund owned 89,935 shares of the oil and gas company’s stock after selling 5,800 shares during the quarter. Stephens Inc. AR’s holdings in Schlumberger were worth $3,574,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of SLB. Clearbridge Investments LLC raised its stake in shares of Schlumberger by 9.7% during the first quarter. Clearbridge Investments LLC now owns 13,660,190 shares of the oil and gas company’s stock worth $595,174,000 after acquiring an additional 1,203,997 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Schlumberger by 7.3% during the fourth quarter. Geode Capital Management LLC now owns 16,487,841 shares of the oil and gas company’s stock worth $593,754,000 after acquiring an additional 1,125,484 shares in the last quarter. Smead Capital Management Inc. purchased a new position in shares of Schlumberger during the second quarter worth approximately $38,425,000. Parametric Portfolio Associates LLC increased its stake in shares of Schlumberger by 26.0% in the first quarter. Parametric Portfolio Associates LLC now owns 3,786,185 shares of the oil and gas company’s stock worth $164,964,000 after buying an additional 781,979 shares during the period. Finally, Fisher Asset Management LLC increased its stake in shares of Schlumberger by 6.4% in the second quarter. Fisher Asset Management LLC now owns 11,816,154 shares of the oil and gas company’s stock worth $469,574,000 after buying an additional 709,200 shares during the period. 77.22% of the stock is currently owned by hedge funds and other institutional investors.

Several brokerages recently commented on SLB. Raymond James reaffirmed a “hold” rating on shares of Schlumberger in a research note on Friday, June 21st. BMO Capital Markets set a $44.00 target price on shares of Schlumberger and gave the stock a “hold” rating in a research note on Monday, April 22nd. AltaCorp Capital reaffirmed an “outperform” rating on shares of Schlumberger in a research note on Thursday, June 20th. Royal Bank of Canada decreased their target price on shares of Schlumberger to $51.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 15th. Finally, Morgan Stanley set a $51.00 target price on shares of Schlumberger and gave the stock a “hold” rating in a research note on Monday, April 22nd. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and twelve have assigned a buy rating to the stock. Schlumberger presently has an average rating of “Hold” and an average target price of $52.17.

In related news, insider Stephanie Cox sold 24,057 shares of Schlumberger stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $40.59, for a total value of $976,473.63. Following the sale, the insider now owns 46,354 shares in the company, valued at $1,881,508.86. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Patrick Schorn sold 12,151 shares of Schlumberger stock in a transaction on Monday, July 22nd. The shares were sold at an average price of $38.93, for a total transaction of $473,038.43. Following the completion of the sale, the executive vice president now owns 130,000 shares in the company, valued at approximately $5,060,900. The disclosure for this sale can be found here. Insiders own 0.48% of the company’s stock.

NYSE:SLB traded up $1.07 during trading hours on Friday, hitting $32.72. The company had a trading volume of 13,454,900 shares, compared to its average volume of 10,335,576. The company has a market capitalization of $44.73 billion, a PE ratio of 20.20, a price-to-earnings-growth ratio of 2.03 and a beta of 1.44. The stock has a 50-day moving average price of $38.21 and a 200 day moving average price of $40.81. Schlumberger Limited. has a 52 week low of $31.11 and a 52 week high of $65.61. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.39 and a quick ratio of 1.01.

Schlumberger (NYSE:SLB) last released its quarterly earnings results on Friday, July 19th. The oil and gas company reported $0.35 earnings per share for the quarter, meeting the consensus estimate of $0.35. The business had revenue of $8.27 billion for the quarter, compared to analysts’ expectations of $8.11 billion. Schlumberger had a net margin of 6.38% and a return on equity of 5.62%. The firm’s revenue for the quarter was down .4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.43 earnings per share. Analysts anticipate that Schlumberger Limited. will post 1.51 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, October 11th. Investors of record on Wednesday, September 4th will be issued a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 6.11%. The ex-dividend date is Tuesday, September 3rd. Schlumberger’s dividend payout ratio (DPR) is currently 123.46%.

About Schlumberger

Schlumberger Limited supplies technology for reservoir characterization, drilling, production, and processing to the oil and gas industry worldwide. The company's Reservoir Characterization segment offers reservoir interpretation and data processing services; open and cased-hole, and slickline services; exploration and production pressure and flow-rate measurement services; tubing-conveyed perforating services; integrated production systems; software, consulting, information management, and IT infrastructure services; reservoir characterization, field development planning, and production enhancement consulting services; petro technical data services and training solutions; and integrated management services.

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Institutional Ownership by Quarter for Schlumberger (NYSE:SLB)

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