Schlumberger Limited $SLB Shares Sold by Guinness Asset Management LTD

Key Points

• Guinness Asset Management LTD reduced its holdings in Schlumberger Limited by 19.5%, selling 46,377 shares, leaving them with 191,605 shares valued at $8,009,000.
• Several hedge funds increased their stakes in Schlumberger, with First Command Advisory Services Inc. boosting its position by 300% to now own 636 shares valued at $27,000.
• Schlumberger recently announced a quarterly dividend of $0.285 per share, resulting in an annualized yield of 3.2% and a payout ratio of 39.04%.

Guinness Asset Management LTD trimmed its position in Schlumberger Limited (NYSE:SLB - Free Report) by 19.5% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 191,605 shares of the oil and gas company's stock after selling 46,377 shares during the period. Guinness Asset Management LTD's holdings in Schlumberger were worth $8,009,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. First Command Advisory Services Inc. boosted its stake in Schlumberger by 300.0% in the first quarter. First Command Advisory Services Inc. now owns 636 shares of the oil and gas company's stock valued at $27,000 after acquiring an additional 477 shares during the period. Atlas Capital Advisors Inc. acquired a new position in Schlumberger in the first quarter valued at approximately $33,000. Alpine Bank Wealth Management acquired a new position in Schlumberger in the first quarter valued at approximately $34,000. Park Square Financial Group LLC acquired a new position in Schlumberger in the first quarter valued at approximately $38,000. Finally, Mpwm Advisory Solutions LLC acquired a new position in Schlumberger in the fourth quarter valued at approximately $40,000. 81.99% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the company. Jefferies Financial Group decreased their target price on Schlumberger from $54.00 to $53.00 and set a "buy" rating for the company in a research note on Thursday, June 26th. Susquehanna decreased their target price on Schlumberger from $44.00 to $42.00 and set a "positive" rating for the company in a research note on Monday, July 21st. JPMorgan Chase & Co. decreased their target price on Schlumberger from $46.00 to $44.00 and set an "overweight" rating for the company in a research note on Monday, June 30th. Barclays decreased their target price on Schlumberger from $47.00 to $46.00 and set an "overweight" rating for the company in a research note on Monday, July 21st. Finally, Stifel Nicolaus reduced their price objective on Schlumberger from $54.00 to $52.00 and set a "buy" rating for the company in a research report on Wednesday, July 16th. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and four have given a Hold rating to the company's stock. According to data from MarketBeat.com, Schlumberger has an average rating of "Moderate Buy" and a consensus target price of $52.86.

Schlumberger Stock Performance

Shares of NYSE SLB opened at $36.00 on Friday. The company has a current ratio of 1.31, a quick ratio of 0.98 and a debt-to-equity ratio of 0.51. The stock has a 50 day simple moving average of $34.82 and a 200-day simple moving average of $35.82. The company has a market cap of $53.77 billion, a PE ratio of 12.33, a P/E/G ratio of 10.03 and a beta of 1.05. Schlumberger Limited has a 12-month low of $31.11 and a 12-month high of $46.15.

Schlumberger (NYSE:SLB - Get Free Report) last issued its quarterly earnings data on Friday, July 18th. The oil and gas company reported $0.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.73 by $0.01. Schlumberger had a return on equity of 20.99% and a net margin of 11.53%.The business had revenue of $8.55 billion during the quarter, compared to the consensus estimate of $8.51 billion. During the same period in the previous year, the firm posted $0.85 earnings per share. The business's revenue was down 6.5% on a year-over-year basis. On average, equities research analysts forecast that Schlumberger Limited will post 3.38 EPS for the current year.

Schlumberger Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 9th. Investors of record on Wednesday, September 3rd will be issued 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 3.2%. Schlumberger's payout ratio is presently 39.04%.

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.

Want to see what other hedge funds are holding SLB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Schlumberger Limited (NYSE:SLB - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.