Cornerstone Capital Inc. Sells 124,173 Shares of Schlumberger Limited. (SLB)

Cornerstone Capital Inc. lowered its holdings in Schlumberger Limited. (NYSE:SLB) by 50.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 123,639 shares of the oil and gas company’s stock after selling 124,173 shares during the period. Cornerstone Capital Inc.’s holdings in Schlumberger were worth $4,461,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Bank of Nova Scotia boosted its holdings in shares of Schlumberger by 29.3% during the fourth quarter. Bank of Nova Scotia now owns 704,941 shares of the oil and gas company’s stock worth $25,422,000 after purchasing an additional 159,698 shares during the period. Los Angeles Capital Management & Equity Research Inc. boosted its holdings in shares of Schlumberger by 53.2% during the fourth quarter. Los Angeles Capital Management & Equity Research Inc. now owns 338,217 shares of the oil and gas company’s stock worth $12,203,000 after purchasing an additional 117,497 shares during the period. Bremer Trust National Association boosted its holdings in shares of Schlumberger by 11.0% during the fourth quarter. Bremer Trust National Association now owns 24,574 shares of the oil and gas company’s stock worth $886,000 after purchasing an additional 2,426 shares during the period. Truehand Inc acquired a new stake in shares of Schlumberger during the fourth quarter worth approximately $79,000. Finally, Bruderman Asset Management LLC acquired a new stake in shares of Schlumberger during the fourth quarter worth approximately $33,000. 78.31% of the stock is currently owned by institutional investors.

In other news, EVP Peuch Olivier Le sold 15,000 shares of Schlumberger stock in a transaction that occurred on Tuesday, January 22nd. The shares were sold at an average price of $44.00, for a total value of $660,000.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Patrick Schorn purchased 10,000 shares of the company’s stock in a transaction dated Thursday, December 20th. The stock was purchased at an average cost of $37.55 per share, for a total transaction of $375,500.00. Following the transaction, the executive vice president now owns 35,000 shares of the company’s stock, valued at $1,314,250. The disclosure for this purchase can be found here. Company insiders own 0.48% of the company’s stock.

A number of research firms have issued reports on SLB. HSBC upgraded shares of Schlumberger from a “hold” rating to a “buy” rating in a research note on Monday, November 26th. Bank of America reiterated a “buy” rating and issued a $52.00 target price (down from $69.00) on shares of Schlumberger in a research note on Monday, December 3rd. Credit Suisse Group set a $44.00 target price on shares of Schlumberger and gave the company a “hold” rating in a research note on Friday, January 18th. Royal Bank of Canada set a $58.00 target price on shares of Schlumberger and gave the company a “buy” rating in a research note on Friday, January 18th. Finally, Jefferies Financial Group reduced their target price on shares of Schlumberger to $54.00 and set a “buy” rating for the company in a research note on Thursday, December 6th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and twelve have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $65.50.

NYSE:SLB opened at $42.39 on Friday. Schlumberger Limited. has a 12 month low of $34.99 and a 12 month high of $75.43. The company has a market capitalization of $58.75 billion, a PE ratio of 26.17, a PEG ratio of 2.30 and a beta of 1.34. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.87 and a current ratio of 1.17.

Schlumberger (NYSE:SLB) last released its quarterly earnings results on Friday, January 18th. The oil and gas company reported $0.36 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.36. Schlumberger had a net margin of 6.51% and a return on equity of 6.12%. The company had revenue of $8.18 billion for the quarter, compared to analyst estimates of $8.10 billion. During the same quarter last year, the firm posted $0.48 earnings per share. The company’s quarterly revenue was up .0% compared to the same quarter last year. Analysts predict that Schlumberger Limited. will post 1.59 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, April 12th. Stockholders of record on Wednesday, February 13th will be given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.72%. The ex-dividend date is Tuesday, February 12th. Schlumberger’s dividend payout ratio is 123.46%.

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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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