Schlumberger Limited (NYSE:SLB) Shares Sold by Banco Santander S.A.

Key Points

• Banco Santander S.A. reduced its stake in Schlumberger Limited by 6.1%, holding 210,296 shares valued at approximately $8.79 million after selling 13,754 shares during the first quarter.
• Schlumberger announced a quarterly dividend of $0.285 per share to be paid on October 9th, providing an annualized yield of 3.5%.
• The stock of Schlumberger is currently down 2.2% and analysts have mixed ratings, with an average target price of $49.28.

Banco Santander S.A. reduced its position in shares of Schlumberger Limited (NYSE:SLB - Free Report) by 6.1% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 210,296 shares of the oil and gas company's stock after selling 13,754 shares during the period. Banco Santander S.A.'s holdings in Schlumberger were worth $8,790,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in SLB. Vident Advisory LLC raised its stake in Schlumberger by 1.0% during the fourth quarter. Vident Advisory LLC now owns 27,838 shares of the oil and gas company's stock valued at $1,067,000 after buying an additional 273 shares in the last quarter. Glen Eagle Advisors LLC raised its position in shares of Schlumberger by 3.7% during the 4th quarter. Glen Eagle Advisors LLC now owns 7,843 shares of the oil and gas company's stock valued at $301,000 after acquiring an additional 282 shares in the last quarter. Heritage Wealth Management Inc. Texas raised its position in shares of Schlumberger by 2.2% during the 1st quarter. Heritage Wealth Management Inc. Texas now owns 14,736 shares of the oil and gas company's stock valued at $616,000 after acquiring an additional 318 shares in the last quarter. Wahed Invest LLC raised its position in shares of Schlumberger by 0.9% during the 4th quarter. Wahed Invest LLC now owns 35,022 shares of the oil and gas company's stock valued at $1,343,000 after acquiring an additional 319 shares in the last quarter. Finally, Financial Management Professionals Inc. raised its position in shares of Schlumberger by 2.0% during the 1st quarter. Financial Management Professionals Inc. now owns 16,851 shares of the oil and gas company's stock valued at $704,000 after acquiring an additional 336 shares in the last quarter. 81.99% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director La Chevardiere Patrick De sold 5,000 shares of the firm'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 transaction of $167,900.00. Following the transaction, the director owned 23,525 shares in the company, valued at $789,969.50. This trade represents a 17.53% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.26% of the company's stock.

Schlumberger Stock Down 2.2%

SLB opened at $33.04 on Friday. Schlumberger Limited has a 12 month low of $31.11 and a 12 month high of $46.16. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.31 and a quick ratio of 0.98. The stock has a market cap of $44.65 billion, a P/E ratio of 11.32, a P/E/G ratio of 9.17 and a beta of 1.03. The stock's 50 day moving average price is $34.78 and its 200 day moving average price is $37.21.

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

Schlumberger Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 9th. Shareholders of record on Wednesday, September 3rd will be paid a dividend of $0.285 per share. The ex-dividend date of this dividend is Wednesday, September 3rd. This represents a $1.14 annualized dividend and a yield of 3.5%. Schlumberger's dividend payout ratio (DPR) is presently 39.04%.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. Morgan Stanley dropped 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. Atb Cap Markets upgraded shares of Schlumberger from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, July 1st. Susquehanna dropped their price objective on shares of Schlumberger from $44.00 to $42.00 and set a "positive" rating on the stock in a research note on Monday, July 21st. Jefferies Financial Group dropped their price objective on shares of Schlumberger from $54.00 to $53.00 and set a "buy" rating on the stock in a research note on Thursday, June 26th. Finally, Wells Fargo & Company cut Schlumberger from a "strong-buy" rating to a "hold" rating in a research report on Sunday, July 20th. Four analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, Schlumberger presently has an average rating of "Moderate Buy" and a consensus target price of $49.28.

Schlumberger 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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