Carmignac Gestion Trims Stake in Schlumberger Limited $SLB

Key Points

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Carmignac Gestion reduced its stake in Schlumberger Limited (NYSE:SLB - Free Report) by 36.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,605,000 shares of the oil and gas company's stock after selling 2,691,500 shares during the period. Schlumberger accounts for 3.1% of Carmignac Gestion's holdings, making the stock its 11th biggest holding. Carmignac Gestion owned about 0.34% of Schlumberger worth $192,489,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also added to or reduced their stakes in SLB. Price T Rowe Associates Inc. MD boosted its stake in shares of Schlumberger by 7.4% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 75,986,195 shares of the oil and gas company's stock valued at $2,913,312,000 after purchasing an additional 5,225,828 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Schlumberger by 478.8% during the first quarter. Charles Schwab Investment Management Inc. now owns 47,719,476 shares of the oil and gas company's stock valued at $1,994,674,000 after purchasing an additional 39,474,501 shares in the last quarter. Deutsche Bank AG boosted its stake in Schlumberger by 12.2% in the fourth quarter. Deutsche Bank AG now owns 28,737,703 shares of the oil and gas company's stock valued at $1,101,804,000 after acquiring an additional 3,119,543 shares in the last quarter. Boston Partners boosted its stake in Schlumberger by 27.7% in the first quarter. Boston Partners now owns 19,829,381 shares of the oil and gas company's stock valued at $824,160,000 after acquiring an additional 4,300,222 shares in the last quarter. Finally, Northern Trust Corp boosted its stake in Schlumberger by 4.4% in the first quarter. Northern Trust Corp now owns 14,422,499 shares of the oil and gas company's stock valued at $602,860,000 after acquiring an additional 604,832 shares in the last quarter. 81.99% of the stock is currently owned by institutional investors.

Schlumberger Stock Up 0.9%

SLB opened at $33.29 on Tuesday. Schlumberger Limited has a fifty-two week low of $31.11 and a fifty-two week high of $46.16. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.98 and a current ratio of 1.31. The company has a fifty day moving average of $34.65 and a two-hundred day moving average of $36.49. The stock has a market capitalization of $44.98 billion, a price-to-earnings ratio of 11.40, a PEG ratio of 9.15 and a beta of 1.03.

Schlumberger (NYSE:SLB - Get Free Report) last announced its earnings results on Friday, July 18th. The oil and gas company reported $0.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.73 by $0.01. Schlumberger had a net margin of 11.53% and a return on equity of 20.99%. The business had revenue of $8.55 billion for the quarter, compared to analyst estimates of $8.51 billion. During the same quarter last year, the business earned $0.85 earnings per share. The company's revenue for the quarter was down 6.5% compared to the same quarter last year. On average, research analysts expect that Schlumberger Limited will post 3.38 earnings per share for the current year.

Schlumberger Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 9th. Investors of record on Wednesday, September 3rd will be given a dividend of $0.285 per share. The ex-dividend date is Wednesday, September 3rd. This represents a $1.14 dividend on an annualized basis and a yield of 3.4%. Schlumberger's payout ratio is presently 39.04%.

Insiders Place Their Bets

In related news, Director La Chevardiere Patrick De sold 5,000 shares of the business's stock in a transaction dated Thursday, May 22nd. The shares were sold at an average price of $33.58, for a total transaction of $167,900.00. Following the transaction, the director directly owned 23,525 shares in the company, valued at approximately $789,969.50. The trade was a 17.53% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 0.26% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the stock. Wells Fargo & Company downgraded shares of Schlumberger from a "strong-buy" rating to a "hold" rating in a research note on Sunday, July 20th. Susquehanna decreased their price target on shares of Schlumberger from $44.00 to $42.00 and set a "positive" rating for the company in a report on Monday, July 21st. Barclays decreased their price target on shares of Schlumberger from $47.00 to $46.00 and set an "overweight" rating for the company in a report on Monday, July 21st. Morgan Stanley decreased their price target on shares of Schlumberger from $50.00 to $45.00 and set an "overweight" rating for the company in a report on Friday, May 16th. Finally, Stifel Nicolaus decreased their price target on shares of Schlumberger from $54.00 to $52.00 and set a "buy" rating for the company in a report on Wednesday, July 16th. Four research analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, Schlumberger currently has a consensus rating of "Moderate Buy" and an average price target of $49.28.

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.

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