NBT Bank N A NY Lowers Holdings in Schlumberger Limited $SLB

NBT Bank N A NY decreased its position in Schlumberger Limited (NYSE:SLB) by 3.1% in the second quarter, Holdings Channel reports. The firm owned 38,544 shares of the oil and gas company’s stock after selling 1,225 shares during the period. NBT Bank N A NY’s holdings in Schlumberger were worth $1,303,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of SLB. Charles Schwab Investment Management Inc. boosted its holdings in shares of Schlumberger by 478.8% in the first quarter. Charles Schwab Investment Management Inc. now owns 47,719,476 shares of the oil and gas company’s stock valued at $1,994,674,000 after purchasing an additional 39,474,501 shares during the period. Boston Partners boosted its holdings in shares of Schlumberger by 27.7% in the first quarter. Boston Partners now owns 19,829,381 shares of the oil and gas company’s stock valued at $824,160,000 after purchasing an additional 4,300,222 shares during the period. Hotchkis & Wiley Capital Management LLC boosted its holdings in shares of Schlumberger by 211.1% in the first quarter. Hotchkis & Wiley Capital Management LLC now owns 5,992,997 shares of the oil and gas company’s stock valued at $250,507,000 after purchasing an additional 4,066,500 shares during the period. Nuveen LLC purchased a new stake in shares of Schlumberger in the first quarter valued at approximately $169,232,000. Finally, Banque Transatlantique SA boosted its holdings in shares of Schlumberger by 21,737.8% in the first quarter. Banque Transatlantique SA now owns 1,859,274 shares of the oil and gas company’s stock valued at $71,821,000 after purchasing an additional 1,850,760 shares during the period. Hedge funds and other institutional investors own 81.99% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on SLB. Atb Cap Markets raised Schlumberger from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, July 1st. JPMorgan Chase & Co. reduced their price target on Schlumberger from $46.00 to $44.00 and set an “overweight” rating for the company in a research report on Monday, June 30th. Susquehanna reduced their price target on Schlumberger from $44.00 to $42.00 and set a “positive” rating for the company in a research report on Monday, July 21st. Melius began coverage on Schlumberger in a research report on Wednesday, August 20th. They issued a “buy” rating and a $82.00 price target for the company. Finally, UBS Group reduced their price target on Schlumberger from $45.00 to $44.00 and set a “buy” rating for the company in a research report on Wednesday, August 20th. Two research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $52.18.

Schlumberger Price Performance

NYSE SLB opened at $33.99 on Thursday. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.31 and a quick ratio of 0.98. The stock’s fifty day moving average price is $34.57 and its 200 day moving average price is $35.04. Schlumberger Limited has a 1 year low of $31.11 and a 1 year high of $45.12. The company has a market cap of $50.77 billion, a price-to-earnings ratio of 11.64, a PEG ratio of 9.56 and a beta of 0.97.

Schlumberger (NYSE:SLB) last released its earnings results on Friday, July 18th. The oil and gas company reported $0.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.73 by $0.01. Schlumberger had a return on equity of 20.99% and a net margin of 11.53%.The firm had revenue of $8.55 billion for the quarter, compared to the consensus estimate of $8.51 billion. During the same period in the prior year, the firm earned $0.85 EPS. The firm’s revenue was down 6.5% on a year-over-year basis. As a group, equities research analysts forecast that Schlumberger Limited will post 3.38 earnings per share for the current year.

Schlumberger Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 9th. Investors of record on Wednesday, September 3rd will be given a $0.285 dividend. This represents a $1.14 annualized dividend and a dividend yield of 3.4%. The ex-dividend date of this dividend is Wednesday, September 3rd. Schlumberger’s dividend payout ratio is presently 39.04%.

Insider Activity

In related news, insider Dianne B. Ralston sold 39,727 shares of the company’s stock in a transaction on Friday, September 12th. The stock was sold at an average price of $36.08, for a total value of $1,433,350.16. Following the transaction, the insider directly owned 202,201 shares of the company’s stock, valued at $7,295,412.08. This represents a 16.42% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.22% of the stock is currently owned by 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.