Tower Research Capital LLC TRC Sells 58,626 Shares of Schlumberger Limited. (NYSE:SLB)

Tower Research Capital LLC TRC lessened its stake in shares of Schlumberger Limited. (NYSE:SLB) by 63.4% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 33,906 shares of the oil and gas company’s stock after selling 58,626 shares during the period. Tower Research Capital LLC TRC’s holdings in Schlumberger were worth $1,158,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in SLB. Neville Rodie & Shaw Inc. increased its holdings in shares of Schlumberger by 2.5% during the 2nd quarter. Neville Rodie & Shaw Inc. now owns 96,052 shares of the oil and gas company’s stock valued at $3,817,000 after purchasing an additional 2,300 shares in the last quarter. Boltwood Capital Management increased its holdings in shares of Schlumberger by 15.5% during the 2nd quarter. Boltwood Capital Management now owns 9,304 shares of the oil and gas company’s stock valued at $370,000 after purchasing an additional 1,250 shares in the last quarter. Park National Corp OH increased its holdings in shares of Schlumberger by 3.8% during the 2nd quarter. Park National Corp OH now owns 171,587 shares of the oil and gas company’s stock valued at $6,818,000 after purchasing an additional 6,298 shares in the last quarter. Woodstock Corp increased its holdings in shares of Schlumberger by 0.6% during the 2nd quarter. Woodstock Corp now owns 125,840 shares of the oil and gas company’s stock valued at $5,001,000 after purchasing an additional 725 shares in the last quarter. Finally, Bright Rock Capital Management LLC increased its holdings in shares of Schlumberger by 868.0% during the 2nd quarter. Bright Rock Capital Management LLC now owns 242,000 shares of the oil and gas company’s stock valued at $9,617,000 after purchasing an additional 217,000 shares in the last quarter. Institutional investors own 76.31% of the company’s stock.

In other news, EVP Patrick Schorn sold 65,000 shares of the company’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $35.89, for a total transaction of $2,332,850.00. Following the completion of the sale, the executive vice president now owns 50,000 shares of the company’s stock, valued at $1,794,500. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, VP Simon Farrant sold 5,000 shares of the company’s stock in a transaction on Monday, October 21st. The stock was sold at an average price of $33.55, for a total transaction of $167,750.00. Following the sale, the vice president now directly owns 20,316 shares of the company’s stock, valued at approximately $681,601.80. The disclosure for this sale can be found here. 0.48% of the stock is currently owned by insiders.

Several equities analysts have recently weighed in on the stock. Barclays set a $47.00 target price on shares of Schlumberger and gave the company a “buy” rating in a report on Friday, October 18th. TheStreet lowered shares of Schlumberger from a “c” rating to a “d+” rating in a report on Friday, October 18th. Morgan Stanley set a $50.00 target price on shares of Schlumberger and gave the company a “buy” rating in a report on Monday, October 21st. Wells Fargo & Co cut their target price on shares of Schlumberger from $44.00 to $40.00 and set an “outperform” rating for the company in a report on Monday, October 21st. Finally, Bank of America set a $43.00 target price on shares of Schlumberger and gave the company a “buy” rating in a report on Monday, October 21st. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and fourteen have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $44.82.

NYSE SLB traded down $1.18 on Wednesday, hitting $35.03. The company had a trading volume of 10,026,385 shares, compared to its average volume of 10,835,286. The company has a market capitalization of $50.31 billion, a PE ratio of 21.62, a PEG ratio of 3.41 and a beta of 1.49. The company’s fifty day moving average price is $33.85 and its 200-day moving average price is $36.49. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.29 and a quick ratio of 0.95. Schlumberger Limited. has a 12-month low of $30.65 and a 12-month high of $49.18.

Schlumberger (NYSE:SLB) last issued its quarterly earnings results on Friday, October 18th. The oil and gas company reported $0.43 EPS for the quarter, topping the consensus estimate of $0.40 by $0.03. The company had revenue of $8.54 billion during the quarter, compared to analyst estimates of $8.50 billion. Schlumberger had a negative net margin of 30.22% and a positive return on equity of 6.00%. The firm’s revenue was up .4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.46 EPS. On average, sell-side analysts anticipate that Schlumberger Limited. will post 1.46 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, January 10th. Investors of record on Wednesday, December 4th will be issued a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 5.71%. The ex-dividend date of this dividend is Tuesday, December 3rd. Schlumberger’s payout ratio is presently 123.46%.

Schlumberger Company Profile

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.

Further Reading: Calculating net profit and net profit margin ratio

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Institutional Ownership by Quarter for Schlumberger (NYSE:SLB)

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