M&G Plc Reduces Holdings in Schlumberger Limited (NYSE:SLB)

M&G Plc lowered its stake in shares of Schlumberger Limited (NYSE:SLB) by 13.3% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 260,129 shares of the oil and gas company’s stock after selling 40,026 shares during the period. M&G Plc’s holdings in Schlumberger were worth $12,226,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in SLB. Register Financial Advisors LLC purchased a new stake in shares of Schlumberger in the 1st quarter valued at $27,000. Manchester Capital Management LLC raised its holdings in shares of Schlumberger by 297.9% in the 1st quarter. Manchester Capital Management LLC now owns 569 shares of the oil and gas company’s stock valued at $31,000 after buying an additional 426 shares during the period. Bruce G. Allen Investments LLC raised its holdings in shares of Schlumberger by 204.2% in the 2nd quarter. Bruce G. Allen Investments LLC now owns 584 shares of the oil and gas company’s stock valued at $28,000 after buying an additional 392 shares during the period. Transcendent Capital Group LLC purchased a new stake in shares of Schlumberger in the 4th quarter valued at $32,000. Finally, Rational Advisors LLC purchased a new stake in shares of Schlumberger in the 1st quarter valued at $35,000. Institutional investors and hedge funds own 81.99% of the company’s stock.

Insiders Place Their Bets

In other Schlumberger news, CFO Stephane Biguet sold 50,048 shares of the firm’s stock in a transaction on Monday, July 22nd. The stock was sold at an average price of $49.94, for a total transaction of $2,499,397.12. Following the completion of the transaction, the chief financial officer now owns 203,076 shares of the company’s stock, valued at $10,141,615.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, Director Vijay Kasibhatla sold 10,000 shares of the firm’s stock in a transaction on Monday, July 22nd. The stock was sold at an average price of $49.29, for a total transaction of $492,900.00. Following the sale, the director now owns 62,354 shares in the company, valued at $3,073,428.66. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Stephane Biguet sold 50,048 shares of the firm’s stock in a transaction on Monday, July 22nd. The stock was sold at an average price of $49.94, for a total value of $2,499,397.12. Following the sale, the chief financial officer now owns 203,076 shares in the company, valued at approximately $10,141,615.44. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 223,779 shares of company stock valued at $11,103,553. Corporate insiders own 0.26% of the company’s stock.

Schlumberger Stock Performance

NYSE SLB opened at $43.77 on Wednesday. Schlumberger Limited has a 1-year low of $42.61 and a 1-year high of $62.12. The company has a market capitalization of $62.15 billion, a P/E ratio of 14.54, a PEG ratio of 0.93 and a beta of 1.55. The business has a 50 day moving average price of $46.06 and a 200 day moving average price of $48.55. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.49 and a quick ratio of 1.13.

Schlumberger (NYSE:SLB) last released its quarterly earnings results on Friday, July 19th. The oil and gas company reported $0.85 earnings per share for the quarter, topping the consensus estimate of $0.83 by $0.02. The company had revenue of $9.14 billion during the quarter, compared to the consensus estimate of $9.08 billion. Schlumberger had a return on equity of 21.92% and a net margin of 12.56%. Schlumberger’s revenue was up 12.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.72 earnings per share. Sell-side analysts expect that Schlumberger Limited will post 3.49 EPS for the current fiscal year.

Schlumberger Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 10th. Shareholders of record on Wednesday, September 4th will be given a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a yield of 2.51%. The ex-dividend date of this dividend is Wednesday, September 4th. Schlumberger’s payout ratio is 36.54%.

Wall Street Analyst Weigh In

SLB has been the topic of several research analyst reports. Bank of America cut their price objective on Schlumberger from $62.00 to $58.00 and set a “buy” rating on the stock in a report on Monday, July 15th. Susquehanna cut their price target on Schlumberger from $77.00 to $70.00 and set a “positive” rating on the stock in a report on Thursday, July 11th. Royal Bank of Canada restated an “outperform” rating and set a $69.00 price target on shares of Schlumberger in a report on Monday, July 22nd. BMO Capital Markets cut their price target on Schlumberger from $66.00 to $64.00 and set an “outperform” rating on the stock in a report on Monday, April 22nd. Finally, StockNews.com downgraded Schlumberger from a “buy” rating to a “hold” rating in a report on Thursday, June 6th. Two research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $67.56.

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.