Voya Investment Management LLC Sells 1,164,851 Shares of Schlumberger Limited $SLB

Key Points

• Voya Investment Management LLC has reduced its stake in Schlumberger Limited by 73.2%, selling over 1.16 million shares and leaving it with 426,518 shares valued at approximately $17.8 million as of its last SEC filing.
• Schlumberger reported earnings of $0.74 EPS for the last quarter, which surpassed analysts' expectations, but revenue fell by 6.5% year-over-year to $8.55 billion.
• The company has announced a quarterly dividend of $0.285 per share, indicating a 3.3% dividend yield, with the payment scheduled for October 9th.

Voya Investment Management LLC trimmed its holdings in shares of Schlumberger Limited (NYSE:SLB - Free Report) by 73.2% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 426,518 shares of the oil and gas company's stock after selling 1,164,851 shares during the quarter. Voya Investment Management LLC's holdings in Schlumberger were worth $17,828,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of the business. Vident Advisory LLC lifted its position 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 during the period. Glen Eagle Advisors LLC increased its holdings in shares of Schlumberger by 3.7% during the fourth 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. EntryPoint Capital LLC increased its holdings in Schlumberger by 4.5% in the 1st quarter. EntryPoint Capital LLC now owns 7,348 shares of the oil and gas company's stock worth $307,000 after buying an additional 316 shares in the last quarter. Heritage Wealth Management Inc. Texas increased its holdings in Schlumberger by 2.2% in the 1st quarter. Heritage Wealth Management Inc. Texas now owns 14,736 shares of the oil and gas company's stock worth $616,000 after buying an additional 318 shares in the last quarter. Finally, Horizon Investments LLC increased its holdings in Schlumberger by 1.5% in the 1st quarter. Horizon Investments LLC now owns 22,633 shares of the oil and gas company's stock worth $946,000 after buying an additional 330 shares in the last quarter. 81.99% of the stock is owned by institutional investors.

Schlumberger Trading Down 2.1%

Schlumberger stock opened at $34.83 on Tuesday. The stock has a 50-day moving average of $34.81 and a two-hundred day moving average of $35.67. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.98 and a current ratio of 1.31. Schlumberger Limited has a one year low of $31.11 and a one year high of $46.15. The stock has a market cap of $52.02 billion, a PE ratio of 11.93, a price-to-earnings-growth ratio of 9.87 and a beta of 1.05.

Schlumberger (NYSE:SLB - Get Free Report) last released 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. Schlumberger had a return on equity of 20.99% and a net margin of 11.53%.The company had revenue of $8.55 billion during the quarter, compared to analysts' expectations of $8.51 billion. During the same period last year, the business posted $0.85 earnings per share. The firm's revenue was down 6.5% compared to the same quarter last year. On average, research analysts anticipate that Schlumberger Limited will post 3.38 EPS for the current fiscal year.

Schlumberger Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 9th. Stockholders of record on Wednesday, September 3rd will be paid a $0.285 dividend. This represents a $1.14 annualized dividend and a dividend yield of 3.3%. The ex-dividend date is Wednesday, September 3rd. Schlumberger's dividend payout ratio (DPR) is presently 39.04%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on SLB shares. Jefferies Financial Group cut their price target on Schlumberger from $54.00 to $53.00 and set a "buy" rating for the company in a research note on Thursday, June 26th. Melius Research initiated coverage on Schlumberger in a research report on Wednesday, August 20th. They set a "buy" rating and a $82.00 price objective on the stock. Melius assumed coverage on Schlumberger in a report on Wednesday, August 20th. They issued a "buy" rating and a $82.00 price target on the stock. Stifel Nicolaus decreased their price objective on Schlumberger from $54.00 to $52.00 and set a "buy" rating on the stock in a report on Wednesday, July 16th. Finally, JPMorgan Chase & Co. decreased their price target on Schlumberger from $46.00 to $44.00 and set an "overweight" rating on the stock in a report on Monday, June 30th. Two analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, Schlumberger currently has an average rating of "Moderate Buy" and an average target price of $52.86.

Insider Activity

In other news, insider Dianne B. Ralston sold 39,727 shares of the firm's stock in a transaction dated Friday, September 12th. The stock was sold at an average price of $36.08, for a total value of $1,433,350.16. Following the completion of the transaction, the insider directly owned 202,201 shares in the company, valued at $7,295,412.08. This trade represents a 16.42% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.26% of the stock is currently owned by insiders.

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.

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