Matrix Asset Advisors Inc. NY Cuts Position in Schlumberger Limited (NYSE:SLB)

Matrix Asset Advisors Inc. NY trimmed its holdings in Schlumberger Limited (NYSE:SLBGet Rating) by 4.4% in the second quarter, according to its most recent disclosure with the SEC. The fund owned 137,067 shares of the oil and gas company’s stock after selling 6,270 shares during the period. Matrix Asset Advisors Inc. NY’s holdings in Schlumberger were worth $4,902,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of SLB. Norges Bank acquired a new position in Schlumberger in the 4th quarter valued at $938,856,000. GQG Partners LLC grew its stake in shares of Schlumberger by 1,413.5% in the first quarter. GQG Partners LLC now owns 27,916,533 shares of the oil and gas company’s stock valued at $1,153,123,000 after acquiring an additional 26,072,056 shares in the last quarter. Jennison Associates LLC lifted its holdings in shares of Schlumberger by 3,475.2% in the first quarter. Jennison Associates LLC now owns 18,156,166 shares of the oil and gas company’s stock worth $750,031,000 after acquiring an additional 17,648,324 shares during the last quarter. BlackRock Inc. grew its position in shares of Schlumberger by 16.9% during the 4th quarter. BlackRock Inc. now owns 111,487,119 shares of the oil and gas company’s stock worth $3,339,042,000 after buying an additional 16,123,949 shares during the period. Finally, Wellington Management Group LLP raised its stake in shares of Schlumberger by 168.9% during the 1st quarter. Wellington Management Group LLP now owns 24,168,526 shares of the oil and gas company’s stock worth $998,402,000 after purchasing an additional 15,182,043 shares during the period. 78.71% of the stock is currently owned by institutional investors and hedge funds.

Schlumberger Trading Down 8.9 %

NYSE:SLB traded down $3.42 during midday trading on Friday, hitting $34.81. The stock had a trading volume of 547,681 shares, compared to its average volume of 10,468,639. Schlumberger Limited has a one year low of $27.23 and a one year high of $49.83. The stock has a 50-day moving average of $36.97 and a 200 day moving average of $39.51. The company has a quick ratio of 0.98, a current ratio of 1.35 and a debt-to-equity ratio of 0.78. The company has a market capitalization of $49.23 billion, a price-to-earnings ratio of 18.99, a PEG ratio of 0.48 and a beta of 1.81.

Schlumberger (NYSE:SLBGet Rating) last released its quarterly earnings results on Friday, July 22nd. The oil and gas company reported $0.50 EPS for the quarter, beating the consensus estimate of $0.40 by $0.10. The firm had revenue of $6.77 billion for the quarter, compared to analyst estimates of $6.28 billion. Schlumberger had a net margin of 10.56% and a return on equity of 15.06%. The business’s revenue for the quarter was up 20.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.30 EPS. As a group, sell-side analysts forecast that Schlumberger Limited will post 2.02 EPS for the current year.

Schlumberger Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 13th. Investors of record on Wednesday, September 7th will be issued a dividend of $0.175 per share. This represents a $0.70 dividend on an annualized basis and a yield of 2.01%. The ex-dividend date of this dividend is Tuesday, September 6th. Schlumberger’s payout ratio is 38.04%.

Wall Street Analysts Forecast Growth

SLB has been the topic of several recent research reports. Cowen upped their price target on Schlumberger from $47.00 to $49.00 and gave the stock an “outperform” rating in a research note on Monday, July 25th. Morgan Stanley decreased their price target on shares of Schlumberger from $50.00 to $45.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 13th. StockNews.com downgraded shares of Schlumberger from a “buy” rating to a “hold” rating in a research note on Friday, August 19th. Benchmark upgraded shares of Schlumberger from a “hold” rating to a “buy” rating and set a $55.00 price target on the stock in a research note on Wednesday, July 27th. Finally, Barclays increased their price target on shares of Schlumberger from $55.00 to $59.00 and gave the stock an “overweight” rating in a research note on Wednesday, June 8th. One research analyst has rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Schlumberger currently has a consensus rating of “Moderate Buy” and an average price target of $47.01.

Schlumberger Profile

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Schlumberger Limited provides technology for the energy industry worldwide. The company operates through four divisions: Digital & Integration, Reservoir Performance, Well Construction, and Production Systems. It offers software, information management, and IT infrastructure services; consulting services for reservoir characterization, field development planning, and production enhancement; petro technical data services and training solutions; reservoir interpretation and data processing services; asset performance solutions; open and cased-hole services; exploration and production pressure and flow-rate measurement services; pressure pumping, well stimulation, and coiled tubing equipment for downhole mechanical well intervention, reservoir monitoring, and downhole data acquisition; and integrated production systems.

See Also

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Institutional Ownership by Quarter for Schlumberger (NYSE:SLB)

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