Metis Global Partners LLC Sells 2,056 Shares of Schlumberger Limited (NYSE:SLB)

Metis Global Partners LLC reduced its holdings in shares of Schlumberger Limited (NYSE:SLB) by 2.8% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 70,280 shares of the oil and gas company’s stock after selling 2,056 shares during the quarter. Metis Global Partners LLC’s holdings in Schlumberger were worth $3,657,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Vanguard Group Inc. grew 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 valued at $7,609,804,000 after purchasing an additional 1,412,821 shares in the last quarter. FMR LLC grew its holdings in shares of Schlumberger by 1.1% in the 3rd quarter. FMR LLC now owns 27,171,516 shares of the oil and gas company’s stock valued at $1,584,099,000 after acquiring an additional 282,709 shares in the last quarter. Morgan Stanley grew its holdings in shares of Schlumberger by 1.9% in the 3rd quarter. Morgan Stanley now owns 15,790,074 shares of the oil and gas company’s stock valued at $920,561,000 after acquiring an additional 292,817 shares in the last quarter. Invesco Ltd. increased its position in shares of Schlumberger by 30.5% in the third quarter. Invesco Ltd. now owns 8,370,835 shares of the oil and gas company’s stock valued at $488,020,000 after acquiring an additional 1,954,620 shares during the last quarter. Finally, Sanders Capital LLC raised its holdings in Schlumberger by 34.9% during 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 acquiring an additional 2,085,506 shares in the last quarter. 81.99% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Schlumberger

In other Schlumberger news, CFO Stephane Biguet sold 6,250 shares of the company’s stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $48.64, for a total value of $304,000.00. Following the completion of the transaction, the chief financial officer now owns 242,932 shares of the company’s stock, valued at approximately $11,816,212.48. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Schlumberger news, CFO Stephane Biguet sold 6,250 shares of the business’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $48.64, for a total transaction of $304,000.00. Following the sale, 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 is available at this hyperlink. Also, EVP Abdellah Merad sold 50,000 shares of the firm’s stock in a transaction dated 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 owns 261,507 shares of the company’s stock, valued at $12,688,319.64. The disclosure for this sale can be found here. 0.26% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Bank of America lowered their target price on shares of Schlumberger from $63.00 to $62.00 and set a “buy” rating on the stock in a report on Monday, April 22nd. TD Cowen reduced their price objective on shares of Schlumberger from $64.00 to $63.00 and set a “buy” rating for the company in a research report on Monday, April 22nd. Benchmark reissued a “buy” rating and issued a $68.00 price objective on shares of Schlumberger in a research report on Monday, April 22nd. Susquehanna reaffirmed a “positive” rating and set a $77.00 target price on shares of Schlumberger in a report on Monday, April 22nd. Finally, Royal Bank of Canada increased their price target on shares of Schlumberger from $66.00 to $69.00 and gave the company an “outperform” rating in a report on Wednesday, April 3rd. Two equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $68.72.

Schlumberger Price Performance

Shares of Schlumberger stock traded up $0.30 on Monday, reaching $47.96. 9,857,195 shares of the stock were exchanged, compared to its average volume of 11,153,603. The firm’s 50 day moving average is $51.63 and its 200-day moving average is $51.67. The firm has a market cap of $68.55 billion, a PE ratio of 15.83, a P/E/G ratio of 0.92 and a beta of 1.64. 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 one year low of $42.73 and a one year high of $62.12.

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

Schlumberger Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 11th. Investors of record on Wednesday, June 5th will be given a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a yield of 2.29%. This is a boost from Schlumberger’s previous quarterly dividend of $0.25. The ex-dividend date is Wednesday, June 5th. Schlumberger’s dividend payout ratio is currently 36.54%.

Schlumberger 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.