Schlumberger Limited $SLB Shares Sold by Ferguson Wellman Capital Management Inc.

Key Points

• Ferguson Wellman Capital Management Inc. reduced its stake in Schlumberger Limited by 15.7% in the second quarter, holding shares worth approximately $1.95 million after selling 10,777 shares.
• Schlumberger's stock currently has a consensus rating of "Moderate Buy" with a price target of $52.18, reflecting analyst upgrades and downgrades.
• The company recently declared a quarterly dividend of $0.285 per share, with an annual yield of 3.3%, payable on October 9th.

Ferguson Wellman Capital Management Inc. cut its holdings in Schlumberger Limited (NYSE:SLB - Free Report) by 15.7% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 57,787 shares of the oil and gas company's stock after selling 10,777 shares during the quarter. Ferguson Wellman Capital Management Inc.'s holdings in Schlumberger were worth $1,953,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. 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 during the period. Boston Partners lifted 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 worth $824,160,000 after acquiring an additional 4,300,222 shares during the period. Northern Trust Corp lifted 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 worth $602,860,000 after acquiring an additional 604,832 shares during the period. Dimensional Fund Advisors LP lifted its stake in Schlumberger by 22.8% in the first quarter. Dimensional Fund Advisors LP now owns 8,989,115 shares of the oil and gas company's stock worth $375,738,000 after acquiring an additional 1,667,203 shares during the period. Finally, Invesco Ltd. lifted its stake in Schlumberger by 3.8% in the first quarter. Invesco Ltd. now owns 7,659,177 shares of the oil and gas company's stock worth $320,154,000 after acquiring an additional 281,937 shares during the period. 81.99% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Dianne B. Ralston sold 39,727 shares of the company's stock in a transaction dated Friday, September 12th. The shares were sold at an average price of $36.08, for a total transaction of $1,433,350.16. Following the transaction, the insider owned 202,201 shares in the company, valued at $7,295,412.08. This represents a 16.42% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.22% of the stock is currently owned by company insiders.

Schlumberger Stock Down 0.8%

Shares of SLB traded down $0.27 during mid-day trading on Friday, hitting $34.47. 33,102,000 shares of the company traded hands, compared to its average volume of 15,493,405. Schlumberger Limited has a 1-year low of $31.11 and a 1-year high of $46.15. The company has a quick ratio of 0.98, a current ratio of 1.31 and a debt-to-equity ratio of 0.51. The company has a market capitalization of $51.49 billion, a PE ratio of 11.80, a price-to-earnings-growth ratio of 9.64 and a beta of 1.05. The business has a 50 day moving average of $34.66 and a 200 day moving average of $35.59.

Schlumberger (NYSE:SLB - Get Free Report) last posted its quarterly earnings data 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 firm had revenue of $8.55 billion for the quarter, compared to the consensus estimate of $8.51 billion. During the same quarter in the prior year, the company posted $0.85 earnings per share. The company's revenue for the quarter was down 6.5% compared to the same quarter last year. Equities research analysts anticipate that Schlumberger Limited will post 3.38 EPS for the current year.

Schlumberger Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 9th. Stockholders of record on Wednesday, September 3rd will be issued a dividend of $0.285 per share. The ex-dividend date is Wednesday, September 3rd. This represents a $1.14 annualized dividend and a dividend yield of 3.3%. Schlumberger's dividend payout ratio is 39.04%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Susquehanna lowered their price objective on shares of Schlumberger from $44.00 to $42.00 and set a "positive" rating for the company in a research note on Monday, July 21st. Atb Cap Markets raised shares of Schlumberger from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, July 1st. 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 research report on Monday, July 21st. Melius Research initiated coverage on shares of Schlumberger in a research report on Wednesday, August 20th. They set a "buy" rating and a $82.00 price target for the company. Finally, Zacks Research raised shares of Schlumberger from a "strong sell" rating to a "hold" rating in a research report on Monday. Two research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $52.18.

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.