Schlumberger Limited $SLB Shares Sold by MetLife Investment Management LLC

Key Points

• MetLife Investment Management LLC reduced its stake in Schlumberger Limited by 2.6%, selling 9,722 shares, and now holds shares valued at approximately $15.2 million.
• Multiple institutional investors increased their stakes in Schlumberger, with Charles Schwab Investment Management Inc. raising its holdings by 478.8% in the first quarter.
• Schlumberger reported $0.74 earnings per share for the last quarter, exceeding estimates, although revenue decreased 6.5% year-over-year.

MetLife Investment Management LLC lessened its stake in Schlumberger Limited (NYSE:SLB - Free Report) by 2.6% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 364,041 shares of the oil and gas company's stock after selling 9,722 shares during the period. MetLife Investment Management LLC's holdings in Schlumberger were worth $15,217,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Charles Schwab Investment Management Inc. increased its holdings 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 valued at $1,994,674,000 after purchasing an additional 39,474,501 shares during the last quarter. Deutsche Bank AG increased its holdings 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 valued at $1,101,804,000 after purchasing an additional 3,119,543 shares during the last quarter. Boston Partners increased its holdings in Schlumberger by 27.7% in the 1st quarter. Boston Partners now owns 19,829,381 shares of the oil and gas company's stock valued at $824,160,000 after purchasing an additional 4,300,222 shares during the last quarter. Northern Trust Corp increased its holdings in Schlumberger by 4.4% in 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 purchasing an additional 604,832 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in shares of Schlumberger by 22.8% in the first quarter. Dimensional Fund Advisors LP now owns 8,989,115 shares of the oil and gas company's stock worth $375,738,000 after acquiring an additional 1,667,203 shares in the last quarter. Institutional investors and hedge funds own 81.99% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on SLB. Jefferies Financial Group dropped their price target on shares of Schlumberger from $54.00 to $53.00 and set a "buy" rating for the company in a research note on Thursday, June 26th. Stifel Nicolaus dropped their price target on shares of Schlumberger from $54.00 to $52.00 and set a "buy" rating for the company in a research note on Wednesday, July 16th. Barclays dropped their price target on shares of Schlumberger from $47.00 to $46.00 and set an "overweight" rating for the company in a research note on Monday, July 21st. Atb Cap Markets upgraded shares of Schlumberger from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, July 1st. Finally, Susquehanna dropped their price target on shares of Schlumberger from $44.00 to $42.00 and set a "positive" rating for the company in a research note on Monday, July 21st. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and four have issued a Hold rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $52.86.

Schlumberger Price Performance

Schlumberger stock opened at $35.67 on Tuesday. The stock has a market cap of $48.20 billion, a P/E ratio of 12.22, a price-to-earnings-growth ratio of 9.88 and a beta of 1.03. The company has a fifty day simple moving average of $34.51 and a 200-day simple moving average of $36.27. Schlumberger Limited has a 12-month low of $31.11 and a 12-month high of $46.16. 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 released 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. The business had revenue of $8.55 billion during the quarter, compared to analysts' expectations of $8.51 billion. Schlumberger had a net margin of 11.53% and a return on equity of 20.99%. The company's revenue for the quarter was down 6.5% on a year-over-year basis. During the same period in the previous year, the company earned $0.85 EPS. Equities analysts expect that Schlumberger Limited will post 3.38 EPS for the current fiscal year.

Schlumberger Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 9th. Investors of record on Wednesday, September 3rd will be given a $0.285 dividend. The ex-dividend date of this dividend is Wednesday, September 3rd. This represents a $1.14 dividend on an annualized basis and a yield of 3.2%. Schlumberger's payout ratio is 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.

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