Sterling Capital Management LLC Trims Stake in Schlumberger Limited. (NYSE:SLB)

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Sterling Capital Management LLC decreased its position in shares of Schlumberger Limited. (NYSE:SLB) by 13.3% during the second quarter, Holdings Channel reports. The fund owned 68,332 shares of the oil and gas company’s stock after selling 10,488 shares during the period. Sterling Capital Management LLC’s holdings in Schlumberger were worth $2,716,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of SLB. Telemus Capital LLC grew its holdings in shares of Schlumberger by 122.7% during the 1st quarter. Telemus Capital LLC now owns 72,566 shares of the oil and gas company’s stock worth $3,162,000 after acquiring an additional 39,985 shares during the period. MV Capital Management Inc. grew its stake in shares of Schlumberger by 2,340.0% in the 1st quarter. MV Capital Management Inc. now owns 7,320 shares of the oil and gas company’s stock worth $319,000 after buying an additional 7,020 shares during the last quarter. Pinnacle Financial Partners Inc. grew its stake in shares of Schlumberger by 2.7% in the 1st quarter. Pinnacle Financial Partners Inc. now owns 27,899 shares of the oil and gas company’s stock worth $1,215,000 after buying an additional 743 shares during the last quarter. German American Bancorp Inc. grew its stake in shares of Schlumberger by 195.6% in the 1st quarter. German American Bancorp Inc. now owns 17,133 shares of the oil and gas company’s stock worth $746,000 after buying an additional 11,337 shares during the last quarter. Finally, Comerica Bank grew its stake in shares of Schlumberger by 7.3% in the 1st quarter. Comerica Bank now owns 390,989 shares of the oil and gas company’s stock worth $17,809,000 after buying an additional 26,476 shares during the last quarter. Hedge funds and other institutional investors own 76.67% of the company’s stock.

Several research firms recently weighed in on SLB. Raymond James restated a “hold” rating on shares of Schlumberger in a research note on Friday, June 21st. Stifel Nicolaus upgraded Schlumberger from a “hold” rating to a “buy” rating and set a $50.00 price target on the stock in a research note on Friday, June 7th. Barclays upgraded Schlumberger from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $45.00 to $50.00 in a research note on Monday. Gabelli began coverage on Schlumberger in a research note on Thursday, June 27th. They issued a “buy” rating and a $55.00 price target on the stock. Finally, Bank of America cut their price target on Schlumberger from $51.00 to $45.00 and set a “buy” rating on the stock in a research note on Wednesday, August 28th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and fifteen have given a buy rating to the company. Schlumberger presently has a consensus rating of “Buy” and a consensus price target of $51.11.

SLB stock traded down $0.30 during midday trading on Thursday, hitting $37.73. The company’s stock had a trading volume of 4,107,368 shares, compared to its average volume of 11,647,682. The company has a market cap of $54.37 billion, a PE ratio of 23.29, a P/E/G ratio of 2.77 and a beta of 1.49. Schlumberger Limited. has a 12 month low of $31.03 and a 12 month high of $63.65. The company has a current ratio of 1.39, a quick ratio of 1.01 and a debt-to-equity ratio of 0.47. The firm’s 50-day moving average is $34.71 and its 200-day moving average is $39.24.

Schlumberger (NYSE:SLB) last released its quarterly earnings data on Friday, July 19th. The oil and gas company reported $0.35 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.35. The business had revenue of $8.27 billion for the quarter, compared to analysts’ expectations of $8.11 billion. Schlumberger had a return on equity of 5.62% and a net margin of 6.38%. The firm’s quarterly revenue was down .4% on a year-over-year basis. During the same period in the prior year, the firm posted $0.43 EPS. Analysts expect that Schlumberger Limited. will post 1.5 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 11th. Investors of record on Wednesday, September 4th will be given a $0.50 dividend. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $2.00 annualized dividend and a yield of 5.30%. Schlumberger’s dividend payout ratio (DPR) is presently 123.46%.

In other news, EVP Patrick Schorn sold 12,151 shares of the stock in a transaction on Monday, July 22nd. The stock was sold at an average price of $38.93, for a total transaction of $473,038.43. Following the transaction, the executive vice president now directly owns 130,000 shares of the company’s stock, valued at approximately $5,060,900. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Stephanie Cox sold 24,057 shares of the stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $40.59, for a total value of $976,473.63. Following the transaction, the insider now directly owns 46,354 shares in the company, valued at $1,881,508.86. The disclosure for this sale can be found here. Corporate insiders own 0.48% of the company’s stock.

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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