BNP Paribas Cuts Stake in Schlumberger Limited (NYSE:SLB)

BNP Paribas lowered its position in Schlumberger Limited (NYSE:SLB) by 52.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,835 shares of the oil and gas company’s stock after selling 18,685 shares during the quarter. BNP Paribas’ holdings in Schlumberger were worth $706,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. Clifford Capital Partners LLC boosted its stake in shares of Schlumberger by 52.5% during the third quarter. Clifford Capital Partners LLC now owns 336,727 shares of the oil and gas company’s stock valued at $14,126,000 after purchasing an additional 115,895 shares during the period. RiverGlades Family Offices LLC boosted its stake in shares of Schlumberger by 9.1% during the third quarter. RiverGlades Family Offices LLC now owns 12,000 shares of the oil and gas company’s stock valued at $503,000 after purchasing an additional 1,000 shares during the period. Glenmede Trust Co. NA boosted its stake in shares of Schlumberger by 5.9% during the third quarter. Glenmede Trust Co. NA now owns 109,415 shares of the oil and gas company’s stock valued at $4,590,000 after purchasing an additional 6,060 shares during the period. Bridgewater Associates LP boosted its stake in shares of Schlumberger by 54.4% during the third quarter. Bridgewater Associates LP now owns 1,155,760 shares of the oil and gas company’s stock valued at $48,484,000 after purchasing an additional 407,323 shares during the period. Finally, Hardy Reed LLC purchased a new stake in shares of Schlumberger during the third quarter valued at approximately $238,000. Hedge funds and other institutional investors own 81.99% of the company’s stock.

Schlumberger Price Performance

Shares of NYSE:SLB opened at $43.66 on Thursday. Schlumberger Limited has a 1-year low of $38.66 and a 1-year high of $55.69. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.48 and a quick ratio of 1.12. The business has a fifty day moving average price of $42.94 and a 200-day moving average price of $44.45. The company has a market capitalization of $61.65 billion, a PE ratio of 14.04, a PEG ratio of 1.55 and a beta of 1.52.

Schlumberger (NYSE:SLB) last issued its quarterly earnings results on Friday, October 18th. The oil and gas company reported $0.89 earnings per share for the quarter, beating the consensus estimate of $0.88 by $0.01. Schlumberger had a return on equity of 21.84% and a net margin of 12.44%. The firm had revenue of $9.16 billion during the quarter, compared to the consensus estimate of $9.27 billion. During the same period last year, the company earned $0.78 earnings per share. The company’s revenue was up 10.2% on a year-over-year basis. As a group, equities analysts expect that Schlumberger Limited will post 3.39 EPS for the current fiscal year.

Schlumberger Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 9th. Stockholders of record on Wednesday, December 4th will be issued a dividend of $0.275 per share. The ex-dividend date of this dividend is Wednesday, December 4th. This represents a $1.10 annualized dividend and a dividend yield of 2.52%. Schlumberger’s payout ratio is presently 35.37%.

Insider Activity

In related news, EVP Abdellah Merad sold 60,000 shares of the stock in a transaction on Thursday, October 24th. The stock was sold at an average price of $41.90, for a total transaction of $2,514,000.00. Following the sale, the executive vice president now directly owns 211,937 shares of the company’s stock, valued at $8,880,160.30. This trade represents a 22.06 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 0.26% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the company. BMO Capital Markets dropped their price objective on Schlumberger from $60.00 to $58.00 and set an “outperform” rating for the company in a research note on Thursday, October 10th. Citigroup decreased their target price on Schlumberger from $60.00 to $54.00 and set a “buy” rating for the company in a report on Tuesday, October 22nd. Wells Fargo & Company decreased their target price on Schlumberger from $53.00 to $49.00 and set an “equal weight” rating for the company in a report on Wednesday, September 25th. Dbs Bank assumed coverage on Schlumberger in a report on Wednesday, September 18th. They set a “buy” rating and a $64.50 target price for the company. Finally, Evercore ISI decreased their target price on Schlumberger from $74.00 to $62.00 and set an “outperform” rating for the company in a report on Monday, October 21st. Two investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Schlumberger currently has a consensus rating of “Moderate Buy” and an average price target of $60.97.

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.