Kentucky Retirement Systems Sells 8,785 Shares of Schlumberger Limited (NYSE:SLB)

Kentucky Retirement Systems trimmed its stake in shares of Schlumberger Limited (NYSE:SLB) by 8.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 98,925 shares of the oil and gas company’s stock after selling 8,785 shares during the quarter. Kentucky Retirement Systems’ holdings in Schlumberger were worth $4,150,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of SLB. Crescent Grove Advisors LLC purchased a new position in shares of Schlumberger in the second quarter worth $257,000. National Bank of Canada FI raised its stake in shares of Schlumberger by 15.0% during the first quarter. National Bank of Canada FI now owns 396,382 shares of the oil and gas company’s stock valued at $21,726,000 after acquiring an additional 51,637 shares during the last quarter. Concurrent Investment Advisors LLC boosted its holdings in shares of 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 purchasing an additional 14,376 shares during the period. Public Sector Pension Investment Board grew its stake in shares of Schlumberger by 0.6% in the second quarter. Public Sector Pension Investment Board now owns 1,901,713 shares of the oil and gas company’s stock worth $89,723,000 after purchasing an additional 11,813 shares during the last quarter. Finally, Los Angeles Capital Management LLC increased its holdings in Schlumberger by 26.0% during the 3rd quarter. Los Angeles Capital Management LLC now owns 307,040 shares of the oil and gas company’s stock valued at $12,880,000 after purchasing an additional 63,413 shares during the period. 81.99% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Schlumberger

In other news, EVP Abdellah Merad sold 60,000 shares of Schlumberger stock in a transaction dated Thursday, October 24th. The stock was sold at an average price of $41.90, for a total transaction of $2,514,000.00. Following the transaction, the executive vice president now directly owns 211,937 shares of the company’s stock, valued at $8,880,160.30. The trade was a 22.06 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.26% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on SLB. Dbs Bank initiated coverage on Schlumberger in a research report on Wednesday, September 18th. They issued a “buy” rating and a $64.50 price objective on the stock. UBS Group cut their price target on shares of Schlumberger from $63.00 to $57.00 and set a “buy” rating on the stock in a report on Wednesday, September 18th. Bank of America reduced their price objective on shares of Schlumberger from $58.00 to $54.00 and set a “buy” rating on the stock in a research report on Monday, October 14th. Susquehanna dropped their target price on shares of Schlumberger from $60.00 to $56.00 and set a “positive” rating for the company in a research report on Monday, October 21st. Finally, Evercore ISI reduced their price target on shares of Schlumberger from $74.00 to $62.00 and set an “outperform” rating on the stock in a research report on Monday, October 21st. Two research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $60.97.

Schlumberger Price Performance

NYSE SLB opened at $43.18 on Friday. The company has a 50-day moving average price of $42.40 and a 200-day moving average price of $44.69. Schlumberger Limited has a 52 week low of $38.66 and a 52 week high of $55.69. The company has a quick ratio of 1.12, a current ratio of 1.48 and a debt-to-equity ratio of 0.52. The firm has a market capitalization of $60.98 billion, a P/E ratio of 13.88, a PEG ratio of 1.52 and a beta of 1.52.

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

Schlumberger Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 9th. Investors of record on Wednesday, December 4th will be given a dividend of $0.275 per share. The ex-dividend date is Wednesday, December 4th. This represents a $1.10 annualized dividend and a yield of 2.55%. Schlumberger’s dividend payout ratio (DPR) is presently 35.37%.

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.