Schlumberger Limited (NYSE:SLB) Shares Sold by Optimal Asset Management Inc.

Optimal Asset Management Inc. reduced its position in Schlumberger Limited (NYSE:SLB) by 8.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 26,707 shares of the oil and gas company’s stock after selling 2,500 shares during the period. Optimal Asset Management Inc.’s holdings in Schlumberger were worth $726,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently bought and sold shares of SLB. Meyer Handelman Co. raised its position in Schlumberger by 4.2% during the first quarter. Meyer Handelman Co. now owns 237,680 shares of the oil and gas company’s stock worth $6,463,000 after acquiring an additional 9,550 shares during the period. Maryland State Retirement & Pension System raised its position in Schlumberger by 374.2% during the first quarter. Maryland State Retirement & Pension System now owns 106,230 shares of the oil and gas company’s stock worth $2,888,000 after acquiring an additional 83,830 shares during the period. Chevy Chase Trust Holdings Inc. raised its position in Schlumberger by 23.8% during the first quarter. Chevy Chase Trust Holdings Inc. now owns 2,771,826 shares of the oil and gas company’s stock worth $75,364,000 after acquiring an additional 531,978 shares during the period. Mercer Global Advisors Inc. ADV raised its position in Schlumberger by 11.0% during the first quarter. Mercer Global Advisors Inc. ADV now owns 98,910 shares of the oil and gas company’s stock worth $2,690,000 after acquiring an additional 9,773 shares during the period. Finally, Elo Mutual Pension Insurance Co grew its holdings in shares of Schlumberger by 1.8% during the first quarter. Elo Mutual Pension Insurance Co now owns 100,426 shares of the oil and gas company’s stock worth $2,731,000 after buying an additional 1,735 shares in the last quarter. Hedge funds and other institutional investors own 75.01% of the company’s stock.

Shares of NYSE:SLB opened at $28.43 on Thursday. The company has a 50 day moving average price of $32.29. The firm has a market capitalization of $39.75 billion, a PE ratio of 42.56 and a beta of 2.40. Schlumberger Limited has a fifty-two week low of $13.70 and a fifty-two week high of $36.87. The company has a current ratio of 1.30, a quick ratio of 0.96 and a debt-to-equity ratio of 1.22.

Schlumberger (NYSE:SLB) last issued its earnings results on Thursday, April 22nd. The oil and gas company reported $0.21 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.19 by $0.02. The firm had revenue of $5.22 billion for the quarter, compared to analysts’ expectations of $5.09 billion. Schlumberger had a negative net margin of 13.30% and a positive return on equity of 7.20%. The firm’s revenue was down 29.9% compared to the same quarter last year. During the same quarter last year, the company earned $0.25 earnings per share. On average, research analysts predict that Schlumberger Limited will post 1.12 EPS for the current fiscal year.

In other Schlumberger news, EVP Hinda Gharbi sold 30,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 6th. The shares were sold at an average price of $30.10, for a total transaction of $903,000.00. Following the sale, the executive vice president now owns 129,262 shares of the company’s stock, valued at $3,890,786.20. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.26% of the stock is currently owned by company insiders.

SLB has been the subject of a number of research reports. upped their target price on shares of Schlumberger from $34.00 to $35.00 and gave the stock a “buy” rating in a report on Monday, April 26th. Citigroup upped their price objective on shares of Schlumberger from $34.00 to $35.00 in a report on Monday, April 26th. Stephens raised shares of Schlumberger from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $27.00 to $35.00 in a report on Monday, April 26th. The Goldman Sachs Group started coverage on shares of Schlumberger in a report on Thursday, May 13th. They issued a “buy” rating and a $38.00 price objective for the company. Finally, Morgan Stanley increased their target price on shares of Schlumberger from $32.00 to $40.00 and gave the stock an “overweight” rating in a research note on Friday, July 9th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and fourteen have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $28.61.

Schlumberger Profile

Schlumberger Limited supplies technology for reservoir characterization, drilling, production, and processing to the oil and gas industry worldwide. It operates in four divisions: Digital & Integration, Reservoir Performance, Well Construction, and Production Systems. The company 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; and petro technical data services and training solutions.

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Institutional Ownership by Quarter for Schlumberger (NYSE:SLB)

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