Schlumberger Limited (NYSE:SLB) Stake Lowered by Bright Rock Capital Management LLC

Bright Rock Capital Management LLC cut its position in Schlumberger Limited (NYSE:SLB) by 43.3% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 85,000 shares of the oil and gas company’s stock after selling 65,000 shares during the quarter. Bright Rock Capital Management LLC’s holdings in Schlumberger were worth $3,259,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. ORG Partners LLC raised its position in shares of Schlumberger by 393.5% during the 3rd quarter. ORG Partners LLC now owns 607 shares of the oil and gas company’s stock worth $25,000 after buying an additional 484 shares in the last quarter. Prospera Private Wealth LLC acquired a new position in Schlumberger during the third quarter worth about $29,000. Ashton Thomas Securities LLC bought a new position in shares of Schlumberger during the 3rd quarter valued at about $37,000. DiNuzzo Private Wealth Inc. boosted its holdings in Schlumberger by 1,068.3% during the third quarter. DiNuzzo Private Wealth Inc. now owns 958 shares of the oil and gas company’s stock worth $40,000 after buying an additional 876 shares in the last quarter. Finally, J. Stern & Co. LLP bought a new stake in shares of Schlumberger during the 3rd quarter worth $47,000. 81.99% of the stock is currently owned by institutional investors and hedge funds.

Schlumberger Stock Up 0.3 %

Shares of SLB opened at $39.95 on Wednesday. The company has a quick ratio of 1.12, a current ratio of 1.48 and a debt-to-equity ratio of 0.52. The stock has a market cap of $56.42 billion, a price-to-earnings ratio of 12.85, a P/E/G ratio of 1.42 and a beta of 1.52. Schlumberger Limited has a 12 month low of $36.52 and a 12 month high of $55.69. The company has a 50-day moving average price of $40.95 and a two-hundred day moving average price of $42.95.

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

Schlumberger Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 9th. Stockholders of record on Wednesday, December 4th were issued a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a dividend yield of 2.75%. The ex-dividend date was Wednesday, December 4th. Schlumberger’s payout ratio is 35.37%.

Analyst Ratings Changes

A number of analysts have commented on the stock. Citigroup reduced their price objective on shares of Schlumberger from $53.00 to $50.00 and set a “buy” rating for the company in a research note on Thursday, December 19th. Stifel Nicolaus reduced their price target on shares of Schlumberger from $60.00 to $59.00 and set a “buy” rating for the company in a research report on Monday, December 23rd. JPMorgan Chase & Co. dropped their price target on shares of Schlumberger from $55.00 to $48.00 and set an “overweight” rating on the stock in a research note on Thursday, January 2nd. UBS Group cut their price objective on shares of Schlumberger from $63.00 to $57.00 and set a “buy” rating on the stock in a research report on Wednesday, September 18th. Finally, BMO Capital Markets cut their target price on Schlumberger from $60.00 to $58.00 and set an “outperform” rating on the stock in a report on Thursday, October 10th. Five equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $57.58.

Insider Activity

In related news, EVP Abdellah Merad sold 60,000 shares of the stock in a transaction that occurred 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 in the company, valued at $8,880,160.30. This represents a 22.06 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.26% of the stock is currently owned by corporate insiders.

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.