Schlumberger Limited. (NYSE:SLB) Position Trimmed by Covington Capital Management

Covington Capital Management decreased its holdings in shares of Schlumberger Limited. (NYSE:SLB) by 30.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 17,498 shares of the oil and gas company’s stock after selling 7,604 shares during the period. Covington Capital Management’s holdings in Schlumberger were worth $703,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in SLB. State Street Corp lifted its holdings in Schlumberger by 0.5% in the fourth quarter. State Street Corp now owns 67,271,012 shares of the oil and gas company’s stock worth $2,737,517,000 after purchasing an additional 305,737 shares during the period. First Eagle Investment Management LLC lifted its holdings in Schlumberger by 7.1% in the fourth quarter. First Eagle Investment Management LLC now owns 30,491,635 shares of the oil and gas company’s stock worth $1,225,764,000 after purchasing an additional 2,017,669 shares during the period. Bank of New York Mellon Corp lifted its holdings in Schlumberger by 9.1% in the fourth quarter. Bank of New York Mellon Corp now owns 30,238,454 shares of the oil and gas company’s stock worth $1,215,585,000 after purchasing an additional 2,532,701 shares during the period. Loomis Sayles & Co. L P lifted its holdings in Schlumberger by 24.6% in the 4th quarter. Loomis Sayles & Co. L P now owns 19,730,634 shares of the oil and gas company’s stock valued at $793,172,000 after acquiring an additional 3,892,503 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in Schlumberger by 2.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 7,476,114 shares of the oil and gas company’s stock valued at $300,540,000 after acquiring an additional 209,827 shares during the last quarter. Hedge funds and other institutional investors own 78.10% of the company’s stock.

In other Schlumberger news, Director Vijay Kasibhatla bought 2,000 shares of the company’s stock in a transaction dated Monday, March 9th. The shares were bought at an average price of $17.05 per share, for a total transaction of $34,100.00. Following the acquisition, the director now directly owns 29,362 shares of the company’s stock, valued at $500,622.10. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Rajeev Sonthalia bought 1,000 shares of the company’s stock in a transaction dated Monday, February 3rd. The stock was acquired at an average price of $35.24 per share, for a total transaction of $35,240.00. Following the acquisition, the insider now directly owns 13,829 shares in the company, valued at $487,333.96. The disclosure for this purchase can be found here. 0.58% of the stock is owned by corporate insiders.

A number of equities research analysts have weighed in on the stock. ValuEngine raised shares of Schlumberger from a “sell” rating to a “hold” rating in a report on Tuesday. Wolfe Research raised shares of Schlumberger from a “peer perform” rating to an “outperform” rating in a report on Thursday, March 19th. Credit Suisse Group reissued a “hold” rating and issued a $36.00 price target on shares of Schlumberger in a report on Wednesday, January 22nd. UBS Group downgraded shares of Schlumberger from a “buy” rating to a “neutral” rating and cut their price target for the company from $47.00 to $30.00 in a report on Tuesday, March 3rd. Finally, Bernstein Bank assumed coverage on shares of Schlumberger in a report on Tuesday, January 14th. They issued an “underperform” rating and a $27.10 price target for the company. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and twelve have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $35.99.

NYSE SLB opened at $14.60 on Thursday. The company has a market cap of $20.28 billion, a PE ratio of -1.99, a PEG ratio of 1.23 and a beta of 1.68. Schlumberger Limited. has a 1 year low of $11.87 and a 1 year high of $48.88. The company has a current ratio of 1.19, a quick ratio of 0.87 and a debt-to-equity ratio of 0.61. The stock’s 50-day moving average price is $26.02 and its two-hundred day moving average price is $33.73.

Schlumberger (NYSE:SLB) last issued its earnings results on Friday, January 17th. The oil and gas company reported $0.39 earnings per share for the quarter, beating analysts’ consensus estimates of $0.37 by $0.02. The company had revenue of $8.23 billion for the quarter, compared to the consensus estimate of $8.16 billion. Schlumberger had a positive return on equity of 6.77% and a negative net margin of 30.80%. The firm’s quarterly revenue was up .6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.36 EPS. Research analysts forecast that Schlumberger Limited. will post 1.12 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 9th. Stockholders of record on Wednesday, February 12th will be issued a $0.50 dividend. The ex-dividend date is Tuesday, February 11th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 13.70%. Schlumberger’s dividend payout ratio is 136.05%.

Schlumberger Profile

Schlumberger Limited supplies technology for reservoir characterization, drilling, production, and processing to the oil and gas industry worldwide. The company's Reservoir Characterization segment 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; petro technical data services and training solutions; and integrated management services.

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Institutional Ownership by Quarter for Schlumberger (NYSE:SLB)

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