State of Alaska Department of Revenue Has $5.17 Million Holdings in Schlumberger Limited $SLB

State of Alaska Department of Revenue cut its position in shares of Schlumberger Limited (NYSE:SLB) by 6.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 152,864 shares of the oil and gas company’s stock after selling 11,110 shares during the quarter. State of Alaska Department of Revenue’s holdings in Schlumberger were worth $5,166,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of SLB. Charles Schwab Investment Management Inc. grew its stake in Schlumberger by 478.8% during the first quarter. Charles Schwab Investment Management Inc. now owns 47,719,476 shares of the oil and gas company’s stock worth $1,994,674,000 after purchasing an additional 39,474,501 shares during the period. Boston Partners grew its stake in Schlumberger by 27.7% during the first quarter. Boston Partners now owns 19,829,381 shares of the oil and gas company’s stock worth $824,160,000 after purchasing an additional 4,300,222 shares during the period. Hotchkis & Wiley Capital Management LLC grew its position in shares of Schlumberger by 211.1% during the 1st quarter. Hotchkis & Wiley Capital Management LLC now owns 5,992,997 shares of the oil and gas company’s stock worth $250,507,000 after buying an additional 4,066,500 shares during the period. Nuveen LLC acquired a new stake in shares of Schlumberger during the 1st quarter worth approximately $169,232,000. Finally, Banque Transatlantique SA grew its position in shares of Schlumberger by 21,737.8% during the 1st quarter. Banque Transatlantique SA now owns 1,859,274 shares of the oil and gas company’s stock worth $71,821,000 after buying an additional 1,850,760 shares during the period. 81.99% of the stock is currently owned by institutional investors and hedge funds.

Schlumberger Stock Up 2.7%

Shares of NYSE:SLB opened at $35.51 on Monday. The stock has a market cap of $53.04 billion, a price-to-earnings ratio of 12.16, a PEG ratio of 9.86 and a beta of 1.05. The company has a quick ratio of 0.98, a current ratio of 1.31 and a debt-to-equity ratio of 0.51. Schlumberger Limited has a 12-month low of $31.11 and a 12-month high of $46.15. The business’s 50 day moving average is $34.65 and its 200 day moving average is $35.33.

Schlumberger (NYSE:SLB) last posted its quarterly earnings data on Friday, July 18th. The oil and gas company reported $0.74 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.73 by $0.01. The firm had revenue of $8.55 billion for the quarter, compared to the consensus estimate of $8.51 billion. Schlumberger had a net margin of 11.53% and a return on equity of 20.99%. The business’s revenue for the quarter was down 6.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.85 EPS. On average, sell-side analysts forecast that Schlumberger Limited will post 3.38 earnings per share for the current fiscal year.

Schlumberger Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 9th. Investors of record on Wednesday, September 3rd will be issued a dividend of $0.285 per share. The ex-dividend date is Wednesday, September 3rd. This represents a $1.14 annualized dividend and a yield of 3.2%. Schlumberger’s payout ratio is 39.04%.

Analysts Set New Price Targets

A number of equities research analysts have commented on SLB shares. Atb Cap Markets upgraded shares of Schlumberger from a “hold” rating to a “strong-buy” rating in a report on Tuesday, July 1st. Jefferies Financial Group reduced their target price on Schlumberger from $54.00 to $53.00 and set a “buy” rating for the company in a research note on Thursday, June 26th. Wells Fargo & Company downgraded Schlumberger from a “strong-buy” rating to a “hold” rating in a research note on Sunday, July 20th. JPMorgan Chase & Co. reduced their price objective on Schlumberger from $46.00 to $44.00 and set an “overweight” rating for the company in a research note on Monday, June 30th. Finally, Melius assumed coverage on Schlumberger in a research note on Wednesday, August 20th. They issued a “buy” rating and a $82.00 price objective for the company. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $52.18.

Insiders Place Their Bets

In related news, insider Dianne B. Ralston sold 39,727 shares of the business’s stock in a transaction dated Friday, September 12th. The shares were sold at an average price of $36.08, for a total transaction of $1,433,350.16. Following the transaction, the insider directly owned 202,201 shares in the company, valued at approximately $7,295,412.08. The trade was a 16.42% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.22% of the company’s stock.

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.