Schlumberger Limited (NYSE:SLB) Shares Sold by OVERSEA CHINESE BANKING Corp Ltd

OVERSEA CHINESE BANKING Corp Ltd decreased its position in Schlumberger Limited (NYSE:SLB - Free Report) by 48.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 9,989 shares of the oil and gas company's stock after selling 9,466 shares during the period. OVERSEA CHINESE BANKING Corp Ltd's holdings in Schlumberger were worth $421,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. SBI Securities Co. Ltd. boosted its holdings in shares of Schlumberger by 834.0% in the first quarter. SBI Securities Co. Ltd. now owns 27,066 shares of the oil and gas company's stock valued at $1,131,000 after acquiring an additional 24,168 shares in the last quarter. Apollon Wealth Management LLC boosted its holdings in shares of Schlumberger by 45.3% in the first quarter. Apollon Wealth Management LLC now owns 36,186 shares of the oil and gas company's stock valued at $1,513,000 after acquiring an additional 11,284 shares in the last quarter. Hohimer Wealth Management LLC purchased a new stake in shares of Schlumberger in the first quarter valued at about $2,778,000. Sigma Planning Corp boosted its holdings in shares of Schlumberger by 18.0% in the first quarter. Sigma Planning Corp now owns 12,494 shares of the oil and gas company's stock valued at $523,000 after acquiring an additional 1,902 shares in the last quarter. Finally, Catalyst Financial Partners LLC purchased a new stake in shares of Schlumberger in the first quarter valued at about $209,000. Hedge funds and other institutional investors own 81.99% of the company's stock.

Insider Buying and Selling at Schlumberger

In other news, Director La Chevardiere Patrick De sold 5,000 shares of the business's stock in a transaction that occurred on Thursday, May 22nd. The shares were sold at an average price of $33.58, for a total value of $167,900.00. Following the completion of the transaction, the director owned 23,525 shares of the company's stock, valued at $789,969.50. The trade was a 17.53% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.26% of the stock is currently owned by corporate insiders.

Schlumberger Price Performance

Shares of NYSE SLB traded up $0.02 on Thursday, hitting $34.61. The company's stock had a trading volume of 19,658,912 shares, compared to its average volume of 13,987,051. The stock has a 50 day moving average of $34.87 and a 200-day moving average of $37.59. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.24 and a quick ratio of 0.93. The company has a market capitalization of $47.07 billion, a price-to-earnings ratio of 11.72, a price-to-earnings-growth ratio of 9.38 and a beta of 1.01. Schlumberger Limited has a 12-month low of $31.11 and a 12-month high of $50.94.

Schlumberger (NYSE:SLB - Get Free Report) last posted its quarterly earnings data on Friday, April 25th. The oil and gas company reported $0.72 earnings per share for the quarter, missing analysts' consensus estimates of $0.73 by ($0.01). The firm had revenue of $8.49 billion during the quarter, compared to analyst estimates of $8.64 billion. Schlumberger had a net margin of 11.62% and a return on equity of 21.76%. The business's quarterly revenue was down 2.5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.75 EPS. As a group, research analysts predict that Schlumberger Limited will post 3.38 EPS for the current year.

Schlumberger Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 10th. Stockholders of record on Wednesday, June 4th were given a $0.285 dividend. This represents a $1.14 dividend on an annualized basis and a dividend yield of 3.29%. The ex-dividend date of this dividend was Wednesday, June 4th. Schlumberger's dividend payout ratio is presently 38.64%.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on SLB. Morgan Stanley lowered their target price on shares of Schlumberger from $50.00 to $45.00 and set an "overweight" rating on the stock in a report on Friday, May 16th. UBS Group boosted their price objective on shares of Schlumberger from $44.00 to $45.00 and gave the stock a "buy" rating in a report on Wednesday, July 2nd. Stifel Nicolaus decreased their price objective on shares of Schlumberger from $54.00 to $52.00 and set a "buy" rating on the stock in a report on Wednesday. Susquehanna decreased their price objective on shares of Schlumberger from $46.00 to $44.00 and set a "positive" rating on the stock in a report on Tuesday, July 1st. Finally, Wells Fargo & Company decreased their price objective on shares of Schlumberger from $46.00 to $43.00 and set an "overweight" rating on the stock in a report on Thursday, June 5th. Three research analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $50.68.

About Schlumberger

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.