Schlumberger Limited (NYSE:SLB) Stock Holdings Reduced by Sanders Morris Harris LLC

Sanders Morris Harris LLC lowered its position in Schlumberger Limited (NYSE:SLB) by 12.6% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 217,650 shares of the oil and gas company’s stock after selling 31,500 shares during the period. Schlumberger accounts for 1.2% of Sanders Morris Harris LLC’s portfolio, making the stock its 10th largest holding. Sanders Morris Harris LLC’s holdings in Schlumberger were worth $8,227,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in SLB. Teachers Retirement System of The State of Kentucky boosted its stake in shares of Schlumberger by 25.9% during the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 761,875 shares of the oil and gas company’s stock worth $31,961,000 after acquiring an additional 156,698 shares in the last quarter. Wilmington Savings Fund Society FSB grew its holdings in Schlumberger by 27.0% during the third quarter. Wilmington Savings Fund Society FSB now owns 76,838 shares of the oil and gas company’s stock valued at $3,223,000 after purchasing an additional 16,350 shares during the last quarter. Victory Capital Management Inc. raised its position in shares of Schlumberger by 8.7% in the third quarter. Victory Capital Management Inc. now owns 817,771 shares of the oil and gas company’s stock valued at $34,305,000 after purchasing an additional 65,318 shares during the period. Concurrent Investment Advisors LLC lifted its stake in shares of Schlumberger by 269.1% in the third quarter. Concurrent Investment Advisors LLC now owns 19,718 shares of the oil and gas company’s stock worth $827,000 after buying an additional 14,376 shares during the last quarter. Finally, Public Sector Pension Investment Board boosted 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 buying an additional 11,813 shares during the period. 81.99% of the stock is currently owned by institutional investors and hedge funds.

Schlumberger Stock Up 0.6 %

Shares of NYSE SLB opened at $40.88 on Thursday. The firm has a 50 day moving average price of $40.95 and a 200 day moving average price of $42.95. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.12 and a current ratio of 1.48. The stock has a market cap of $57.73 billion, a P/E ratio of 13.14, a P/E/G ratio of 1.35 and a beta of 1.52. Schlumberger Limited has a 52-week low of $36.52 and a 52-week high of $55.69.

Schlumberger (NYSE:SLB) last announced its quarterly earnings results on Friday, October 18th. The oil and gas company reported $0.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.88 by $0.01. The company had revenue of $9.16 billion during the quarter, compared to analyst estimates 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 quarter in the previous year, the business earned $0.78 EPS. Analysts expect that Schlumberger Limited will post 3.39 EPS for the current year.

Insiders Place Their Bets

In related news, EVP Abdellah Merad sold 60,000 shares of the stock in a transaction that occurred on 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 completion of the sale, the executive vice president now directly owns 211,937 shares of the company’s stock, valued at approximately $8,880,160.30. This represents a 22.06 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.26% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on SLB. Griffin Securities lowered shares of Schlumberger from a “buy” rating to a “neutral” rating in a research report on Friday, December 20th. Dbs Bank initiated coverage on Schlumberger in a research note on Wednesday, September 18th. They set a “buy” rating and a $64.50 target price for the company. Stifel Nicolaus dropped their price target on Schlumberger from $60.00 to $59.00 and set a “buy” rating on the stock in a research report on Monday, December 23rd. Evercore ISI reissued an “in-line” rating and issued a $44.00 price objective (down from $62.00) on shares of Schlumberger in a research report on Wednesday. Finally, Bank of America dropped their target price 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. Six investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $56.58.

About Schlumberger

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.