Schlumberger Limited. (SLB) Position Cut by Scotia Capital Inc.

Scotia Capital Inc. trimmed its holdings in Schlumberger Limited. (NYSE:SLB) by 31.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 31,634 shares of the oil and gas company’s stock after selling 14,714 shares during the quarter. Scotia Capital Inc.’s holdings in Schlumberger were worth $1,141,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of SLB. Soros Fund Management LLC bought a new position in Schlumberger during the 3rd quarter valued at $3,046,000. Greylin Investment Mangement Inc. bought a new position in Schlumberger during the 3rd quarter valued at $7,963,000. Fosun International Ltd bought a new position in Schlumberger during the 3rd quarter valued at $1,847,000. Kentucky Retirement Systems bought a new position in Schlumberger during the 3rd quarter valued at $9,798,000. Finally, Sound Shore Management Inc. CT bought a new position in Schlumberger during the 3rd quarter valued at $61,845,000. 78.31% of the stock is owned by institutional investors and hedge funds.

A number of equities analysts have issued reports on the company. HSBC raised Schlumberger from a “hold” rating to a “buy” rating in a research note on Monday, November 26th. Bank of America reaffirmed a “buy” rating and set a $52.00 price target (down from $69.00) on shares of Schlumberger in a research note on Monday, December 3rd. Credit Suisse Group set a $44.00 price objective on Schlumberger and gave the stock a “hold” rating in a research note on Friday, January 18th. Royal Bank of Canada set a $58.00 price objective on Schlumberger and gave the stock a “buy” rating in a research note on Friday, January 18th. Finally, Jefferies Financial Group reduced their price objective on Schlumberger to $54.00 and set a “buy” rating for the company in a research note on Thursday, December 6th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and twelve have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $65.50.

In other Schlumberger news, EVP Patrick Schorn bought 10,000 shares of Schlumberger stock in a transaction dated Thursday, December 20th. The stock was bought at an average price of $37.55 per share, for a total transaction of $375,500.00. Following the completion of the acquisition, the executive vice president now directly owns 35,000 shares of the company’s stock, valued at $1,314,250. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Peuch Olivier Le sold 15,000 shares of the stock in a transaction on Tuesday, January 22nd. The shares were sold at an average price of $44.00, for a total value of $660,000.00. The disclosure for this sale can be found here. 0.48% of the stock is owned by corporate insiders.

SLB opened at $42.39 on Friday. The firm has a market cap of $58.75 billion, a PE ratio of 26.17, a P/E/G ratio of 2.30 and a beta of 1.34. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.17 and a quick ratio of 0.87. Schlumberger Limited. has a fifty-two week low of $34.99 and a fifty-two week high of $75.43.

Schlumberger (NYSE:SLB) last released its earnings results on Friday, January 18th. The oil and gas company reported $0.36 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.36. The company had revenue of $8.18 billion during the quarter, compared to analyst estimates of $8.10 billion. Schlumberger had a return on equity of 6.12% and a net margin of 6.51%. The company’s revenue for the quarter was up .0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.48 earnings per share. Equities research analysts forecast that Schlumberger Limited. will post 1.59 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 12th. Stockholders of record on Wednesday, February 13th will be issued a $0.50 dividend. The ex-dividend date of this dividend is Tuesday, February 12th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.72%. Schlumberger’s payout ratio is currently 123.46%.

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About Schlumberger

Schlumberger Limited supplies technology for reservoir characterization, drilling, production, and processing to the oil and gas industry worldwide. The company's Reservoir Characterization segment offers reservoir interpretation and data processing services; open and cased-hole, and slickline services; exploration and production pressure and flow-rate measurement services; tubing-conveyed perforating services; integrated production systems; software, consulting, information management, and IT infrastructure services; reservoir characterization, field development planning, and production enhancement consulting services; petro technical data services and training solutions; and integrated management services.

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Institutional Ownership by Quarter for Schlumberger (NYSE:SLB)

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