Coastline Trust Co Has $917,000 Position in Schlumberger Limited (NYSE:SLB)

Coastline Trust Co lessened its stake in shares of Schlumberger Limited (NYSE:SLB) by 35.6% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 21,870 shares of the oil and gas company’s stock after selling 12,110 shares during the period. Coastline Trust Co’s holdings in Schlumberger were worth $917,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in SLB. Crescent Grove Advisors LLC acquired a new position in Schlumberger in the second quarter valued at about $257,000. National Bank of Canada FI raised its position in shares of Schlumberger by 15.0% in the 1st 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 buying an additional 51,637 shares in the last quarter. Concurrent Investment Advisors LLC raised its position in shares of Schlumberger by 269.1% in the 3rd quarter. Concurrent Investment Advisors LLC now owns 19,718 shares of the oil and gas company’s stock valued at $827,000 after buying an additional 14,376 shares in the last quarter. Public Sector Pension Investment Board lifted its holdings in shares of Schlumberger by 0.6% during the 2nd 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 acquiring an additional 11,813 shares during the period. Finally, Los Angeles Capital Management LLC boosted its position in shares of 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 worth $12,880,000 after acquiring an additional 63,413 shares in the last quarter. 81.99% of the stock is owned by institutional investors and hedge funds.

Schlumberger Price Performance

Schlumberger stock opened at $43.18 on Friday. The firm has a market cap of $60.98 billion, a P/E ratio of 13.88, a P/E/G ratio of 1.54 and a beta of 1.52. The stock’s 50 day moving average is $42.40 and its 200 day moving average is $44.71. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.48 and a quick ratio of 1.12. Schlumberger Limited has a one year low of $38.66 and a one year high of $55.69.

Schlumberger (NYSE:SLB) last posted its quarterly earnings data 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. Schlumberger had a net margin of 12.44% and a return on equity of 21.84%. The company had revenue of $9.16 billion for the quarter, compared to analyst estimates of $9.27 billion. The company’s quarterly revenue was up 10.2% on a year-over-year basis. During the same period in the prior year, the firm posted $0.78 EPS. As a group, research analysts expect that Schlumberger Limited will post 3.4 EPS for the current year.

Schlumberger Announces Dividend

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

Analysts Set New Price Targets

Several brokerages have commented on SLB. Morgan Stanley lowered their price objective on shares of Schlumberger from $65.00 to $60.00 and set an “overweight” rating for the company in a research report on Monday, September 16th. TD Cowen lowered their price target on Schlumberger from $68.00 to $65.00 and set a “buy” rating for the company in a report on Monday, October 21st. Stifel Nicolaus reaffirmed a “buy” rating and issued a $60.00 price objective (down from $62.00) on shares of Schlumberger in a research note on Monday, October 21st. Evercore ISI lowered their target price on Schlumberger from $74.00 to $62.00 and set an “outperform” rating for the company in a research note on Monday, October 21st. Finally, Bank of America dropped their target price on shares of Schlumberger from $58.00 to $54.00 and set a “buy” rating for the company in a report on Monday, October 14th. Two equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $60.97.

Insider Activity

In other news, EVP Abdellah Merad sold 60,000 shares of Schlumberger stock in a transaction on Thursday, October 24th. The shares were sold at an average price of $41.90, for a total value of $2,514,000.00. Following the completion of the sale, the executive vice president now owns 211,937 shares in the company, valued at $8,880,160.30. The trade was a 22.06 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.26% of the stock is owned by company insiders.

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.