Selway Asset Management Decreases Holdings in Schlumberger Limited. (SLB)

Selway Asset Management reduced its position in shares of Schlumberger Limited. (NYSE:SLB) by 5.5% in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 46,890 shares of the oil and gas company’s stock after selling 2,725 shares during the quarter. Schlumberger comprises 1.7% of Selway Asset Management’s portfolio, making the stock its 21st largest holding. Selway Asset Management’s holdings in Schlumberger were worth $2,857,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Capital Investment Advisors LLC lifted its holdings in shares of Schlumberger by 5.3% in the second quarter. Capital Investment Advisors LLC now owns 14,461 shares of the oil and gas company’s stock valued at $969,000 after purchasing an additional 733 shares in the last quarter. Portland Global Advisors LLC lifted its holdings in shares of Schlumberger by 2.8% in the second quarter. Portland Global Advisors LLC now owns 28,240 shares of the oil and gas company’s stock valued at $1,893,000 after purchasing an additional 770 shares in the last quarter. First Merchants Corp lifted its holdings in shares of Schlumberger by 1.4% in the second quarter. First Merchants Corp now owns 54,946 shares of the oil and gas company’s stock valued at $3,683,000 after purchasing an additional 778 shares in the last quarter. Guyasuta Investment Advisors Inc. lifted its holdings in shares of Schlumberger by 0.5% in the second quarter. Guyasuta Investment Advisors Inc. now owns 165,349 shares of the oil and gas company’s stock valued at $11,083,000 after purchasing an additional 809 shares in the last quarter. Finally, Summit Securities Group LLC lifted its holdings in shares of Schlumberger by 22.7% in the second quarter. Summit Securities Group LLC now owns 4,500 shares of the oil and gas company’s stock valued at $302,000 after purchasing an additional 832 shares in the last quarter. 78.52% of the stock is owned by hedge funds and other institutional investors.

A number of research firms have recently weighed in on SLB. ValuEngine downgraded shares of Schlumberger from a “hold” rating to a “sell” rating in a research note on Monday, October 29th. Zacks Investment Research downgraded shares of Schlumberger from a “hold” rating to a “strong sell” rating in a research note on Tuesday, October 23rd. Credit Suisse Group dropped their price target on shares of Schlumberger from $82.00 to $71.00 and set an “outperform” rating on the stock in a research note on Monday, October 22nd. UBS Group dropped their price target on shares of Schlumberger from $92.00 to $75.00 and set a “buy” rating on the stock in a research note on Monday, October 22nd. Finally, Citigroup dropped their price target on shares of Schlumberger from $77.00 to $72.00 and set a “buy” rating on the stock in a research note on Monday, October 22nd. Two research analysts have rated the stock with a sell rating, six have given a hold rating and seventeen have given a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $76.84.

In other Schlumberger news, CFO Simon Ayat sold 60,000 shares of the stock in a transaction on Tuesday, October 30th. The shares were sold at an average price of $56.60, for a total transaction of $3,396,000.00. Following the transaction, the chief financial officer now directly owns 234,008 shares of the company’s stock, valued at $13,244,852.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Michael E. Marks bought 8,000 shares of the stock in a transaction on Thursday, September 6th. The shares were acquired at an average cost of $60.31 per share, for a total transaction of $482,480.00. The disclosure for this purchase can be found here. Corporate insiders own 0.48% of the company’s stock.

Schlumberger stock opened at $51.40 on Friday. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.85 and a current ratio of 1.13. The firm has a market cap of $71.05 billion, a price-to-earnings ratio of 29.32, a price-to-earnings-growth ratio of 5.06 and a beta of 1.03. Schlumberger Limited. has a one year low of $50.72 and a one year high of $80.35.

Schlumberger (NYSE:SLB) last posted its earnings results on Friday, October 19th. The oil and gas company reported $0.46 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.45 by $0.01. The firm had revenue of $8.50 billion for the quarter, compared to the consensus estimate of $8.57 billion. Schlumberger had a negative net margin of 2.00% and a positive return on equity of 6.55%. The business’s quarterly revenue was up 7.6% on a year-over-year basis. During the same period in the prior year, the business posted $0.42 earnings per share. On average, sell-side analysts predict that Schlumberger Limited. will post 1.69 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 11th. Shareholders of record on Wednesday, December 5th will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 3.89%. The ex-dividend date of this dividend is Tuesday, December 4th. Schlumberger’s payout ratio is 133.33%.

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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