Tokio Marine Asset Management Co. Ltd. Sells 1,649 Shares of Schlumberger Limited (NYSE:SLB)

by · The Markets Daily

Tokio Marine Asset Management Co. Ltd. trimmed its stake in shares of Schlumberger Limited (NYSE:SLB – Free Report) by 2.8% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 56,452 shares of the oil and gas company’s stock after selling 1,649 shares during the quarter. Tokio Marine Asset Management Co. Ltd.’s holdings in Schlumberger were worth $2,368,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in SLB. Crescent Grove Advisors LLC bought a new stake in shares of Schlumberger in the 2nd quarter valued at $257,000. National Bank of Canada FI grew its position in shares of Schlumberger by 15.0% during the 1st quarter. National Bank of Canada FI now owns 396,382 shares of the oil and gas company’s stock worth $21,726,000 after buying an additional 51,637 shares during the period. Public Sector Pension Investment Board increased its stake in shares of Schlumberger by 0.6% in the 2nd quarter. Public Sector Pension Investment Board now owns 1,901,713 shares of the oil and gas company’s stock valued at $89,723,000 after acquiring an additional 11,813 shares in the last quarter. Concurrent Investment Advisors LLC boosted its stake in Schlumberger by 269.1% during the third quarter. Concurrent Investment Advisors LLC now owns 19,718 shares of the oil and gas company’s stock worth $827,000 after acquiring an additional 14,376 shares in the last quarter. Finally, Los Angeles Capital Management LLC grew its holdings in Schlumberger by 26.0% in the third quarter. Los Angeles Capital Management LLC now owns 307,040 shares of the oil and gas company’s stock worth $12,880,000 after purchasing an additional 63,413 shares during the period. 81.99% of the stock is owned by institutional investors and hedge funds.

Schlumberger Stock Performance

NYSE SLB opened at $43.45 on Friday. The company’s 50 day moving average is $42.31 and its 200-day moving average is $44.76. The company has a quick ratio of 1.12, a current ratio of 1.48 and a debt-to-equity ratio of 0.52. Schlumberger Limited has a 12-month low of $38.66 and a 12-month high of $55.69. The firm has a market cap of $61.36 billion, a P/E ratio of 13.97, a price-to-earnings-growth ratio of 1.54 and a beta of 1.52.

Schlumberger (NYSE:SLB – Get Free Report) last announced its quarterly earnings results on Friday, October 18th. The oil and gas company reported $0.89 earnings per share for the quarter, beating the consensus estimate of $0.88 by $0.01. Schlumberger had a return on equity of 21.84% and a net margin of 12.44%. The firm had revenue of $9.16 billion for the quarter, compared to analysts’ expectations of $9.27 billion. During the same period in the prior year, the business posted $0.78 earnings per share. The company’s revenue was up 10.2% on a year-over-year basis. Sell-side analysts predict that Schlumberger Limited will post 3.4 earnings per share for the current year.

Schlumberger Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 9th. Shareholders of record on Wednesday, December 4th will be issued a $0.275 dividend. The ex-dividend date of this dividend is Wednesday, December 4th. This represents a $1.10 annualized dividend and a dividend yield of 2.53%. Schlumberger’s payout ratio is currently 35.37%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on SLB shares. Morgan Stanley dropped their price objective on shares of Schlumberger from $65.00 to $60.00 and set an “overweight” rating on the stock in a report on Monday, September 16th. TD Cowen reduced their price objective on Schlumberger from $68.00 to $65.00 and set a “buy” rating for the company in a research note on Monday, October 21st. Barclays lowered their target price on Schlumberger from $67.00 to $63.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 16th. Wells Fargo & Company decreased their price target on shares of Schlumberger from $53.00 to $49.00 and set an “equal weight” rating for the company in a research note on Wednesday, September 25th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $69.00 target price on shares of Schlumberger in a research report on Thursday, October 3rd. Two investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $60.97.

Read Our Latest Research Report on SLB

Insider Activity

In related news, EVP Abdellah Merad sold 60,000 shares of the company’s stock in a transaction on Thursday, October 24th. The shares were sold at an average price of $41.90, for a total value of $2,514,000.00. Following the completion of the transaction, the executive vice president now directly owns 211,937 shares in the company, valued at approximately $8,880,160.30. The trade was a 22.06 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.26% of the company’s stock.

Schlumberger Profile

(Free Report)

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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