Schlumberger Limited. (SLB) Stake Lowered by South State Corp

South State Corp lessened its holdings in Schlumberger Limited. (NYSE:SLB) by 51.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 54,894 shares of the oil and gas company’s stock after selling 58,787 shares during the period. South State Corp’s holdings in Schlumberger were worth $1,981,000 as of its most recent SEC filing.

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

Schlumberger stock opened at $42.39 on Friday. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.87 and a current ratio of 1.17. The stock has a market capitalization of $58.75 billion, a PE ratio of 26.17, a price-to-earnings-growth ratio of 2.30 and a beta of 1.34. Schlumberger Limited. has a 52 week low of $34.99 and a 52 week high of $75.43.

Schlumberger (NYSE:SLB) last posted its quarterly earnings data on Friday, January 18th. The oil and gas company reported $0.36 EPS for the quarter, hitting analysts’ consensus estimates of $0.36. The business had revenue of $8.18 billion for 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 firm’s revenue for the quarter was up .0% on a year-over-year basis. During the same period in the previous year, the company posted $0.48 earnings per share. Analysts anticipate that Schlumberger Limited. will post 1.59 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 12th. Stockholders of record on Wednesday, February 13th will be paid a $0.50 dividend. The ex-dividend date 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 presently 123.46%.

SLB has been the subject of a number of analyst reports. Jefferies Financial Group cut Schlumberger from a “buy” rating to a “hold” rating and reduced their price target for the stock from $50.00 to $45.00 in a research report on Friday. HSBC raised Schlumberger from a “hold” rating to a “buy” rating in a research report on Sunday, December 2nd. Credit Suisse Group set a $44.00 price target on Schlumberger and gave the stock a “hold” rating in a research report on Friday, January 18th. Barclays set a $58.00 price target on Schlumberger and gave the stock a “hold” rating in a research report on Monday, December 10th. Finally, Goldman Sachs Group initiated coverage on Schlumberger in a research report on Sunday, March 10th. They issued a “buy” rating and a $55.00 price target for the company. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and twelve have given a buy rating to the company’s stock. Schlumberger currently has a consensus rating of “Hold” and an average target price of $65.50.

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

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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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