Korea Investment CORP Sells 197,965 Shares of Schlumberger Limited $SLB

Key Points

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Korea Investment CORP trimmed its stake in Schlumberger Limited (NYSE:SLB - Free Report) by 13.4% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,279,533 shares of the oil and gas company's stock after selling 197,965 shares during the period. Korea Investment CORP owned about 0.09% of Schlumberger worth $53,484,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Price T Rowe Associates Inc. MD grew its position in Schlumberger by 7.4% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 75,986,195 shares of the oil and gas company's stock worth $2,913,312,000 after purchasing an additional 5,225,828 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in Schlumberger by 478.8% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 47,719,476 shares of the oil and gas company's stock worth $1,994,674,000 after purchasing an additional 39,474,501 shares during the last quarter. Deutsche Bank AG grew its position in Schlumberger by 12.2% in the 4th quarter. Deutsche Bank AG now owns 28,737,703 shares of the oil and gas company's stock worth $1,101,804,000 after purchasing an additional 3,119,543 shares during the last quarter. Boston Partners lifted its holdings in shares of Schlumberger by 27.7% during the 1st 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. Finally, Northern Trust Corp boosted its position in shares of Schlumberger by 4.4% during the 1st quarter. Northern Trust Corp now owns 14,422,499 shares of the oil and gas company's stock valued at $602,860,000 after acquiring an additional 604,832 shares in the last quarter. 81.99% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have recently weighed in on SLB shares. Melius Research started coverage on shares of Schlumberger in a research report on Wednesday. They set a "buy" rating and a $82.00 target price on the stock. Jefferies Financial Group decreased their target price on shares of Schlumberger from $54.00 to $53.00 and set a "buy" rating on the stock in a research report on Thursday, June 26th. Atb Cap Markets upgraded shares of Schlumberger from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, July 1st. Barclays decreased their target price on shares of Schlumberger from $47.00 to $46.00 and set an "overweight" rating on the stock in a research report on Monday, July 21st. Finally, Melius started coverage on shares of Schlumberger in a research report on Wednesday. They set a "buy" rating and a $82.00 target price on the stock. Two analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and four have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $52.86.

Schlumberger Price Performance

SLB stock traded up $1.7650 during trading on Friday, hitting $35.5750. 16,023,117 shares of the stock traded hands, compared to its average volume of 16,241,825. Schlumberger Limited has a one year low of $31.11 and a one year high of $46.16. The stock has a market cap of $48.07 billion, a price-to-earnings ratio of 12.18, a P/E/G ratio of 9.26 and a beta of 1.03. The company has a 50 day simple moving average of $34.53 and a 200 day simple moving average of $36.40. The company has a current ratio of 1.31, a quick ratio of 0.98 and a debt-to-equity ratio of 0.51.

Schlumberger (NYSE:SLB - Get Free Report) last announced its quarterly earnings results 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 during the quarter, compared to the consensus estimate of $8.51 billion. During the same period last year, the firm posted $0.85 EPS. The firm's quarterly revenue was down 6.5% on a year-over-year basis. Equities analysts expect that Schlumberger Limited will post 3.38 EPS for the current fiscal year.

Schlumberger Dividend Announcement

The company also recently declared 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. This represents a $1.14 annualized dividend and a yield of 3.2%. The ex-dividend date of this dividend is Wednesday, September 3rd. Schlumberger's dividend payout ratio (DPR) is currently 39.04%.

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.