MAI Capital Management trimmed its position in shares of Schlumberger Limited. (NYSE:SLB) by 12.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 50,643 shares of the oil and gas company’s stock after selling 7,438 shares during the period. MAI Capital Management’s holdings in Schlumberger were worth $1,827,000 as of its most recent SEC filing.
A number of other large investors have also recently modified their holdings of the stock. Advisors Asset Management Inc. lifted its stake in shares of Schlumberger by 7.0% in the 2nd quarter. Advisors Asset Management Inc. now owns 96,079 shares of the oil and gas company’s stock valued at $6,440,000 after purchasing an additional 6,268 shares during the period. Bank of New York Mellon Corp lifted its stake in shares of Schlumberger by 8.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 29,461,493 shares of the oil and gas company’s stock valued at $1,974,805,000 after purchasing an additional 2,188,823 shares during the period. Busey Trust CO lifted its stake in shares of Schlumberger by 3.1% in the 3rd quarter. Busey Trust CO now owns 143,676 shares of the oil and gas company’s stock valued at $8,753,000 after purchasing an additional 4,357 shares during the period. Berkshire Asset Management LLC PA lifted its stake in shares of Schlumberger by 7.5% in the 3rd quarter. Berkshire Asset Management LLC PA now owns 293,287 shares of the oil and gas company’s stock valued at $17,867,000 after purchasing an additional 20,469 shares during the period. Finally, Broadleaf Partners LLC increased its position in Schlumberger by 20.8% in the 3rd quarter. Broadleaf Partners LLC now owns 50,696 shares of the oil and gas company’s stock valued at $3,088,000 after buying an additional 8,718 shares in the last quarter. Institutional investors own 77.07% of the company’s stock.
Shares of SLB opened at $42.78 on Monday. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.17 and a quick ratio of 0.87. The company has a market cap of $59.16 billion, a price-to-earnings ratio of 26.41, a P/E/G ratio of 2.31 and a beta of 1.36. Schlumberger Limited. has a 52 week low of $34.99 and a 52 week high of $75.43.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 12th. Shareholders of record on Wednesday, February 13th will be issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 4.68%. The ex-dividend date of this dividend is Tuesday, February 12th. Schlumberger’s dividend payout ratio is currently 123.46%.
A number of analysts recently commented on the company. Credit Suisse Group decreased their target price on Schlumberger from $82.00 to $71.00 and set an “outperform” rating for the company in a research report on Monday, October 22nd. Bank of America reaffirmed a “buy” rating and issued a $52.00 target price (down from $69.00) on shares of Schlumberger in a research report on Monday, December 3rd. UBS Group decreased their target price on Schlumberger from $92.00 to $75.00 and set a “buy” rating for the company in a research report on Monday, October 22nd. Cowen decreased their target price on Schlumberger from $77.00 to $75.00 and set an “outperform” rating for the company in a research report on Monday, October 22nd. Finally, Zacks Investment Research raised Schlumberger from a “sell” rating to a “hold” rating in a research report on Wednesday, December 5th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and thirteen have assigned a buy rating to the stock. Schlumberger presently has an average rating of “Hold” and a consensus target price of $66.65.
In other Schlumberger news, EVP Peuch Olivier Le sold 15,000 shares of the business’s stock in a transaction that occurred on Tuesday, January 22nd. The stock was sold at an average price of $44.00, for a total transaction of $660,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Patrick Schorn acquired 10,000 shares of the firm’s stock in a transaction on Thursday, December 20th. The shares were bought at an average cost of $37.55 per share, with a total value of $375,500.00. Following the completion of the acquisition, the executive vice president now directly owns 35,000 shares in the company, valued at approximately $1,314,250. The disclosure for this purchase can be found here. Insiders own 0.48% of the company’s stock.
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Schlumberger Company 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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