Schlumberger Limited. (SLB) Position Lowered by Institute for Wealth Management LLC.

Institute for Wealth Management LLC. lessened its position in shares of Schlumberger Limited. (NYSE:SLB) by 6.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 17,079 shares of the oil and gas company’s stock after selling 1,199 shares during the quarter. Institute for Wealth Management LLC.’s holdings in Schlumberger were worth $1,034,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Bank of New York Mellon Corp increased its stake in Schlumberger by 8.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 29,461,493 shares of the oil and gas company’s stock valued at $1,974,805,000 after purchasing an additional 2,188,823 shares in the last quarter. Fisher Asset Management LLC increased its stake in Schlumberger by 6.2% during the 3rd quarter. Fisher Asset Management LLC now owns 6,576,688 shares of the oil and gas company’s stock valued at $400,652,000 after purchasing an additional 385,816 shares in the last quarter. Schwab Charles Investment Management Inc. increased its stake in Schlumberger by 3.0% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 5,720,875 shares of the oil and gas company’s stock valued at $383,471,000 after purchasing an additional 164,182 shares in the last quarter. Swiss National Bank increased its stake in Schlumberger by 2.8% during the 2nd quarter. Swiss National Bank now owns 4,950,935 shares of the oil and gas company’s stock valued at $331,861,000 after purchasing an additional 133,900 shares in the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. increased its stake in Schlumberger by 5.1% during the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 4,578,037 shares of the oil and gas company’s stock valued at $306,866,000 after purchasing an additional 222,573 shares in the last quarter. Hedge funds and other institutional investors own 78.52% of the company’s stock.

In related news, CFO Simon Ayat sold 60,000 shares of the stock in a transaction on Tuesday, October 30th. The shares were sold at an average price of $56.60, for a total transaction of $3,396,000.00. Following the sale, the chief financial officer now directly owns 234,008 shares of the company’s stock, valued at $13,244,852.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Michael E. Marks purchased 8,000 shares of the stock in a transaction that occurred on Thursday, September 6th. The shares were purchased at an average cost of $60.31 per share, for a total transaction of $482,480.00. The disclosure for this purchase can be found here. Corporate insiders own 0.48% of the company’s stock.

A number of research analysts have issued reports on the stock. Credit Suisse Group upped their price target on shares of Schlumberger from $80.00 to $82.00 and gave the company a “buy” rating in a research note on Monday, July 23rd. Piper Jaffray Companies reaffirmed a “buy” rating and issued a $80.00 price objective on shares of Schlumberger in a report on Monday, July 23rd. Citigroup dropped their price objective on shares of Schlumberger from $78.00 to $77.00 and set a “buy” rating on the stock in a report on Monday, July 23rd. Jefferies Financial Group set a $80.00 price objective on shares of Schlumberger and gave the company a “buy” rating in a report on Monday, July 23rd. Finally, Seaport Global Securities set a $72.00 price objective on shares of Schlumberger and gave the company a “buy” rating in a report on Monday, July 23rd. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and seventeen have assigned a buy rating to the company. Schlumberger has a consensus rating of “Buy” and an average price target of $76.84.

Shares of NYSE SLB opened at $51.31 on Thursday. Schlumberger Limited. has a 1 year low of $50.80 and a 1 year high of $80.35. The firm has a market cap of $72.45 billion, a P/E ratio of 34.21, a PEG ratio of 5.16 and a beta of 0.93. The company has a current ratio of 1.13, a quick ratio of 0.85 and a debt-to-equity ratio of 0.38.

Schlumberger (NYSE:SLB) last announced its quarterly earnings results on Friday, October 19th. The oil and gas company reported $0.46 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.45 by $0.01. Schlumberger had a negative net margin of 2.00% and a positive return on equity of 6.55%. The firm had revenue of $8.50 billion for the quarter, compared to the consensus estimate of $8.57 billion. During the same period in the prior year, the firm posted $0.42 earnings per share. The firm’s quarterly revenue was up 7.6% compared to the same quarter last year. On average, research analysts anticipate that Schlumberger Limited. will post 1.69 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, January 11th. Investors of record on Wednesday, December 5th will be issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 3.90%. The ex-dividend date of this dividend is Tuesday, December 4th. Schlumberger’s dividend payout ratio (DPR) is presently 133.33%.

About Schlumberger

Schlumberger Limited supplies technology products and services to the oil and gas exploration and production industry worldwide. The company's Reservoir Characterization Group segment provides reservoir interpretation and data processing services; open and cased-hole services; slickline services; exploration and production pressure and flow-rate measurement services at the surface and downhole; software integrated solutions, such as software, consulting, information management, and IT infrastructure services; consulting services for reservoir characterization, field development planning, and production enhancement; and petrotechnical data services and training solutions, as well as integrated management services.

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Institutional Ownership by Quarter for Schlumberger (NYSE:SLB)

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