Bp Plc Cuts Holdings in Schlumberger Limited. (SLB)

Bp Plc decreased its holdings in shares of Schlumberger Limited. (NYSE:SLB) by 30.6% during the third quarter, according to its most recent filing with the SEC. The firm owned 120,000 shares of the oil and gas company’s stock after selling 53,000 shares during the period. Bp Plc’s holdings in Schlumberger were worth $7,310,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of SLB. Bank of New York Mellon Corp grew its position 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 worth $1,974,805,000 after buying an additional 2,188,823 shares during the last quarter. American Century Companies Inc. grew its position in shares of Schlumberger by 20.1% in the 3rd quarter. American Century Companies Inc. now owns 10,218,188 shares of the oil and gas company’s stock worth $622,492,000 after buying an additional 1,707,050 shares during the last quarter. Marathon Asset Management LLP purchased a new position in shares of Schlumberger in the 3rd quarter worth approximately $64,743,000. Bain Capital Public Equity Management LLC purchased a new position in shares of Schlumberger in the 2nd quarter worth approximately $45,421,000. Finally, Royal London Asset Management Ltd. purchased a new position in shares of Schlumberger in the 2nd quarter worth approximately $39,461,000. 78.47% of the stock is currently owned by institutional investors and hedge funds.

SLB stock opened at $50.40 on Friday. The company has a market capitalization of $72.12 billion, a P/E ratio of 33.60, a P/E/G ratio of 5.14 and a beta of 1.03. The company has a quick ratio of 0.85, a current ratio of 1.13 and a debt-to-equity ratio of 0.38. Schlumberger Limited. has a 52 week low of $50.00 and a 52 week high of $80.35.

Schlumberger (NYSE:SLB) last released its earnings results on Friday, October 19th. The oil and gas company reported $0.46 EPS for the quarter, topping analysts’ consensus estimates of $0.45 by $0.01. The company had revenue of $8.50 billion during the quarter, compared to analysts’ expectations of $8.57 billion. Schlumberger had a negative net margin of 2.00% and a positive return on equity of 6.55%. Schlumberger’s revenue for the quarter was up 7.6% on a year-over-year basis. During the same period last year, the business earned $0.42 EPS. As a group, equities research analysts forecast that Schlumberger Limited. will post 1.69 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, January 11th. Investors of record on Wednesday, December 5th will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 3.97%. The ex-dividend date of this dividend is Tuesday, December 4th. Schlumberger’s dividend payout ratio (DPR) is presently 133.33%.

In other Schlumberger news, Director Michael E. Marks acquired 8,000 shares of the firm’s stock in a transaction on Thursday, September 6th. The stock was acquired at an average cost of $60.31 per share, for a total transaction of $482,480.00. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Simon Ayat sold 60,000 shares of Schlumberger stock in a transaction that occurred 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 sale, the chief financial officer now owns 234,008 shares of the company’s stock, valued at $13,244,852.80. The disclosure for this sale can be found here. 0.48% of the stock is owned by company insiders.

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

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About Schlumberger

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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