Bryn Mawr Capital Management LLC Trims Stake in Schlumberger Limited (NYSE:SLB)

Bryn Mawr Capital Management LLC decreased its position in shares of Schlumberger Limited (NYSE:SLB) by 5.7% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 37,390 shares of the oil and gas company’s stock after selling 2,241 shares during the period. Bryn Mawr Capital Management LLC’s holdings in Schlumberger were worth $1,946,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Vanguard Group Inc. grew its stake in shares of Schlumberger by 1.1% in the 3rd quarter. Vanguard Group Inc. now owns 130,528,372 shares of the oil and gas company’s stock worth $7,609,804,000 after buying an additional 1,412,821 shares during the last quarter. FMR LLC lifted its position in Schlumberger by 1.1% in the 3rd quarter. FMR LLC now owns 27,171,516 shares of the oil and gas company’s stock valued at $1,584,099,000 after acquiring an additional 282,709 shares in the last quarter. Morgan Stanley lifted its position in Schlumberger by 1.9% in the 3rd quarter. Morgan Stanley now owns 15,790,074 shares of the oil and gas company’s stock valued at $920,561,000 after acquiring an additional 292,817 shares in the last quarter. Invesco Ltd. lifted its position in Schlumberger by 30.5% in the 3rd quarter. Invesco Ltd. now owns 8,370,835 shares of the oil and gas company’s stock valued at $488,020,000 after acquiring an additional 1,954,620 shares in the last quarter. Finally, Sanders Capital LLC lifted its position in Schlumberger by 34.9% in the 3rd quarter. Sanders Capital LLC now owns 8,056,492 shares of the oil and gas company’s stock valued at $469,693,000 after acquiring an additional 2,085,506 shares in the last quarter. Hedge funds and other institutional investors own 81.99% of the company’s stock.

Analysts Set New Price Targets

SLB has been the topic of several analyst reports. HSBC reaffirmed a “buy” rating and issued a $71.00 price objective on shares of Schlumberger in a research report on Thursday, April 4th. Morgan Stanley reissued an “overweight” rating and set a $65.00 price target on shares of Schlumberger in a report on Monday. Royal Bank of Canada increased their price target on Schlumberger from $66.00 to $69.00 and gave the company an “outperform” rating in a report on Wednesday, April 3rd. Benchmark reissued a “buy” rating and set a $68.00 price target on shares of Schlumberger in a report on Monday. Finally, TD Cowen lowered their price target on Schlumberger from $64.00 to $63.00 and set a “buy” rating on the stock in a report on Monday. One research analyst has rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $69.67.

Schlumberger Price Performance

Shares of Schlumberger stock traded down $0.24 during trading on Friday, reaching $49.20. 8,247,654 shares of the stock traded hands, compared to its average volume of 11,185,043. The company has a market capitalization of $70.23 billion, a price-to-earnings ratio of 16.35, a P/E/G ratio of 0.95 and a beta of 1.60. The business has a fifty day simple moving average of $51.74 and a two-hundred day simple moving average of $52.17. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.37 and a quick ratio of 1.02. Schlumberger Limited has a 52-week low of $42.73 and a 52-week high of $62.12.

Schlumberger (NYSE:SLB) last released its quarterly earnings results on Friday, April 19th. The oil and gas company reported $0.75 EPS for the quarter, hitting the consensus estimate of $0.75. The company had revenue of $8.71 billion during the quarter, compared to analyst estimates of $8.70 billion. Schlumberger had a return on equity of 21.88% and a net margin of 12.72%. The firm’s revenue was up 12.6% on a year-over-year basis. During the same quarter last year, the business posted $0.63 earnings per share. Sell-side analysts expect that Schlumberger Limited will post 3.5 EPS for the current year.

Schlumberger Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 11th. Shareholders of record on Wednesday, June 5th will be paid a $0.275 dividend. The ex-dividend date of this dividend is Wednesday, June 5th. This represents a $1.10 annualized dividend and a yield of 2.24%. This is an increase from Schlumberger’s previous quarterly dividend of $0.25. Schlumberger’s dividend payout ratio (DPR) is presently 36.54%.

Insiders Place Their Bets

In other Schlumberger news, CFO Stephane Biguet sold 6,250 shares of the firm’s stock in a transaction dated Monday, January 29th. The shares were sold at an average price of $52.78, for a total value of $329,875.00. Following the completion of the sale, the chief financial officer now owns 249,182 shares of the company’s stock, valued at $13,151,825.96. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, insider Katharina Beumelburg sold 8,000 shares of Schlumberger stock in a transaction that occurred on Monday, January 29th. The shares were sold at an average price of $52.62, for a total transaction of $420,960.00. Following the completion of the sale, the insider now owns 15,581 shares of the company’s stock, valued at $819,872.22. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Stephane Biguet sold 6,250 shares of Schlumberger stock in a transaction that occurred on Monday, January 29th. The shares were sold at an average price of $52.78, for a total transaction of $329,875.00. Following the sale, the chief financial officer now directly owns 249,182 shares of the company’s stock, valued at approximately $13,151,825.96. The disclosure for this sale can be found here. Insiders sold a total of 90,545 shares of company stock valued at $4,458,430 over the last 90 days. Insiders own 0.26% of the company’s stock.

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.