Violich Capital Management Inc. Sells 23,100 Shares of Schlumberger Limited (NYSE:SLB)

Violich Capital Management Inc. decreased its position in shares of Schlumberger Limited (NYSE:SLB - Free Report) by 42.6% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 31,150 shares of the oil and gas company's stock after selling 23,100 shares during the period. Violich Capital Management Inc.'s holdings in Schlumberger were worth $1,302,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in SLB. Dynamic Technology Lab Private Ltd increased its holdings in Schlumberger by 32.2% during the 4th quarter. Dynamic Technology Lab Private Ltd now owns 71,390 shares of the oil and gas company's stock valued at $2,737,000 after purchasing an additional 17,405 shares during the period. Geode Capital Management LLC increased its holdings in Schlumberger by 4.8% during the 4th quarter. Geode Capital Management LLC now owns 29,985,360 shares of the oil and gas company's stock valued at $1,146,195,000 after purchasing an additional 1,377,134 shares during the period. Scharf Investments LLC increased its holdings in Schlumberger by 20.5% during the 1st quarter. Scharf Investments LLC now owns 1,653,895 shares of the oil and gas company's stock valued at $69,133,000 after purchasing an additional 281,773 shares during the period. Integrated Advisors Network LLC increased its holdings in Schlumberger by 810.4% during the 1st quarter. Integrated Advisors Network LLC now owns 75,163 shares of the oil and gas company's stock valued at $3,142,000 after purchasing an additional 66,907 shares during the period. Finally, Alan B Lancz & Associates Inc. purchased a new position in Schlumberger during the 1st quarter valued at about $308,000. Hedge funds and other institutional investors own 81.99% of the company's stock.

Analyst Ratings Changes

SLB has been the topic of several research reports. UBS Group lifted their price objective on Schlumberger from $44.00 to $45.00 and gave the company a "buy" rating in a research report on Wednesday, July 2nd. Susquehanna cut their price objective on Schlumberger from $46.00 to $44.00 and set a "positive" rating on the stock in a research report on Tuesday, July 1st. Wells Fargo & Company cut their price objective on Schlumberger from $46.00 to $43.00 and set an "overweight" rating on the stock in a research report on Thursday, June 5th. Jefferies Financial Group cut their price objective on Schlumberger from $54.00 to $53.00 and set a "buy" rating on the stock in a research report on Thursday, June 26th. Finally, Morgan Stanley cut their price objective on Schlumberger from $50.00 to $45.00 and set an "overweight" rating on the stock in a research report on Friday, May 16th. Three research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $50.79.

Schlumberger Stock Down 3.1%

SLB stock traded down $1.14 during midday trading on Tuesday, hitting $35.09. The company's stock had a trading volume of 17,349,283 shares, compared to its average volume of 13,914,917. The company has a market cap of $47.72 billion, a PE ratio of 11.89, a P/E/G ratio of 9.64 and a beta of 1.01. Schlumberger Limited has a 12 month low of $31.11 and a 12 month high of $50.94. The company has a current ratio of 1.24, a quick ratio of 0.93 and a debt-to-equity ratio of 0.51. The firm's 50-day moving average is $34.82 and its 200-day moving average is $37.62.

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

Schlumberger Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 10th. Investors of record on Wednesday, June 4th were given a $0.285 dividend. The ex-dividend date was Wednesday, June 4th. This represents a $1.14 annualized dividend and a yield of 3.25%. Schlumberger's dividend payout ratio (DPR) is presently 38.64%.

Insider Transactions at Schlumberger

In other Schlumberger news, Director La Chevardiere Patrick De sold 5,000 shares of the business's stock in a transaction 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 completion of the sale, 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.26% of the company's stock.

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.