Levin Capital Strategies L.P. Has $388,000 Stock Position in Schlumberger Limited (NYSE:SLB)

Levin Capital Strategies L.P. trimmed its position in Schlumberger Limited (NYSE:SLB) by 6.3% in the fourth quarter, Holdings Channel.com reports. The firm owned 7,464 shares of the oil and gas company’s stock after selling 500 shares during the period. Levin Capital Strategies L.P.’s holdings in Schlumberger were worth $388,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in Schlumberger by 1.1% in the third quarter. Vanguard Group Inc. now owns 130,528,372 shares of the oil and gas company’s stock worth $7,609,804,000 after purchasing an additional 1,412,821 shares during the period. FMR LLC increased its position in Schlumberger by 1.1% in the third quarter. FMR LLC now owns 27,171,516 shares of the oil and gas company’s stock worth $1,584,099,000 after purchasing an additional 282,709 shares during the period. Morgan Stanley increased its position in Schlumberger by 1.9% in the third quarter. Morgan Stanley now owns 15,790,074 shares of the oil and gas company’s stock worth $920,561,000 after purchasing an additional 292,817 shares during the period. Invesco Ltd. increased its position in Schlumberger by 30.5% in the third quarter. Invesco Ltd. now owns 8,370,835 shares of the oil and gas company’s stock worth $488,020,000 after purchasing an additional 1,954,620 shares during the period. Finally, Sanders Capital LLC increased its position in Schlumberger by 34.9% in the third quarter. Sanders Capital LLC now owns 8,056,492 shares of the oil and gas company’s stock worth $469,693,000 after purchasing an additional 2,085,506 shares during the period. 81.99% of the stock is currently owned by institutional investors and hedge funds.

Schlumberger Stock Up 0.2 %

NYSE SLB traded up $0.08 during trading on Friday, hitting $47.66. The stock had a trading volume of 10,999,773 shares, compared to its average volume of 11,168,643. The company has a market capitalization of $68.12 billion, a PE ratio of 15.83, a P/E/G ratio of 0.91 and a beta of 1.64. The company’s 50-day moving average price is $51.66 and its two-hundred day moving average price is $51.87. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.02 and a current ratio of 1.37. Schlumberger Limited has a 12 month low of $42.73 and a 12 month high of $62.12.

Schlumberger (NYSE:SLB) last released its earnings results on Friday, April 19th. The oil and gas company reported $0.75 EPS for the quarter, meeting the consensus estimate of $0.75. The firm had revenue of $8.71 billion for the quarter, compared to analysts’ expectations of $8.70 billion. Schlumberger had a return on equity of 21.88% and a net margin of 12.72%. The business’s quarterly revenue was up 12.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.63 EPS. As a group, sell-side analysts forecast that Schlumberger Limited will post 3.51 EPS for the current year.

Schlumberger Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 11th. Shareholders of record on Wednesday, June 5th will be given a dividend of $0.275 per share. This is a positive change from Schlumberger’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend is Wednesday, June 5th. This represents a $1.10 annualized dividend and a dividend yield of 2.31%. Schlumberger’s payout ratio is 36.54%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. TD Cowen decreased their target price on Schlumberger from $64.00 to $63.00 and set a “buy” rating for the company in a research report on Monday, April 22nd. Bank of America decreased their target price on Schlumberger from $63.00 to $62.00 and set a “buy” rating for the company in a research report on Monday, April 22nd. Benchmark restated a “buy” rating and set a $68.00 target price on shares of Schlumberger in a research report on Monday, April 22nd. BMO Capital Markets decreased their target price on Schlumberger from $66.00 to $64.00 and set an “outperform” rating for the company in a research report on Monday, April 22nd. Finally, Susquehanna restated a “positive” rating and set a $77.00 target price on shares of Schlumberger in a research report on Monday, April 22nd. Two investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. Based on data from MarketBeat, Schlumberger currently has an average rating of “Moderate Buy” and a consensus price target of $68.72.

Insiders Place Their Bets

In other Schlumberger news, EVP Abdellah Merad sold 50,000 shares of the business’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $48.52, for a total transaction of $2,426,000.00. Following the transaction, the executive vice president now owns 261,507 shares of the company’s stock, valued at approximately $12,688,319.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CFO Stephane Biguet sold 6,250 shares of the business’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $48.64, for a total transaction of $304,000.00. Following the transaction, the chief financial officer now directly owns 242,932 shares of the company’s stock, valued at approximately $11,816,212.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Abdellah Merad sold 50,000 shares of the business’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $48.52, for a total value of $2,426,000.00. Following the transaction, the executive vice president now directly owns 261,507 shares in the company, valued at $12,688,319.64. The disclosure for this sale can be found here. Insiders own 0.26% of the company’s stock.

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.