Chevy Chase Trust Holdings LLC Decreases Position in Schlumberger Limited (NYSE:SLB)

Chevy Chase Trust Holdings LLC reduced its stake in Schlumberger Limited (NYSE:SLB) by 1.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,449,446 shares of the oil and gas company’s stock after selling 38,708 shares during the period. Chevy Chase Trust Holdings LLC’s holdings in Schlumberger were worth $102,754,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Cetera Investment Advisers grew its position in shares of Schlumberger by 233.0% in the 1st quarter. Cetera Investment Advisers now owns 216,385 shares of the oil and gas company’s stock valued at $11,860,000 after buying an additional 151,412 shares during the last quarter. Cetera Advisors LLC boosted its stake in Schlumberger by 88.8% in the first quarter. Cetera Advisors LLC now owns 57,764 shares of the oil and gas company’s stock valued at $3,166,000 after acquiring an additional 27,171 shares in the last quarter. EverSource Wealth Advisors LLC grew its holdings in shares of Schlumberger by 38.7% during the first quarter. EverSource Wealth Advisors LLC now owns 4,080 shares of the oil and gas company’s stock worth $224,000 after purchasing an additional 1,138 shares during the last quarter. Transcend Capital Advisors LLC acquired a new stake in shares of Schlumberger during the second quarter worth about $259,000. Finally, Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of Schlumberger in the 2nd quarter valued at about $154,000. Institutional investors and hedge funds own 81.99% of the company’s stock.

Schlumberger Price Performance

Shares of NYSE SLB opened at $44.03 on Monday. The company’s fifty day moving average is $42.98 and its two-hundred day moving average is $44.36. 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 firm has a market capitalization of $62.18 billion, a P/E ratio of 14.13, a PEG ratio of 1.55 and a beta of 1.52. Schlumberger Limited has a one year low of $38.66 and a one year high of $55.69.

Schlumberger (NYSE:SLB) last issued its earnings results on Friday, October 18th. The oil and gas company reported $0.89 earnings per share for the quarter, topping the consensus estimate of $0.88 by $0.01. Schlumberger had a net margin of 12.44% and a return on equity of 21.84%. The company had revenue of $9.16 billion for the quarter, compared to analyst estimates of $9.27 billion. During the same period in the prior year, the business posted $0.78 earnings per share. The firm’s revenue for the quarter was up 10.2% compared to the same quarter last year. Analysts forecast that Schlumberger Limited will post 3.39 EPS for the current fiscal year.

Schlumberger Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 9th. Investors of record on Wednesday, December 4th will be issued a dividend of $0.275 per share. The ex-dividend date of this dividend is Wednesday, December 4th. This represents a $1.10 annualized dividend and a yield of 2.50%. Schlumberger’s dividend payout ratio is presently 35.37%.

Insiders Place Their Bets

In other Schlumberger news, EVP Abdellah Merad sold 60,000 shares of Schlumberger stock in a transaction dated Thursday, October 24th. The shares were sold at an average price of $41.90, for a total transaction of $2,514,000.00. Following the completion of the transaction, the executive vice president now owns 211,937 shares in the company, valued at approximately $8,880,160.30. The trade was a 22.06 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.26% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on SLB. TD Cowen decreased their price objective on Schlumberger from $68.00 to $65.00 and set a “buy” rating for the company in a report on Monday, October 21st. UBS Group decreased their price target on shares of Schlumberger from $63.00 to $57.00 and set a “buy” rating for the company in a research note on Wednesday, September 18th. Citigroup dropped their price objective on shares of Schlumberger from $60.00 to $54.00 and set a “buy” rating on the stock in a research note on Tuesday, October 22nd. Stifel Nicolaus reiterated a “buy” rating and set a $60.00 target price (down previously from $62.00) on shares of Schlumberger in a research note on Monday, October 21st. Finally, Morgan Stanley dropped their price target on Schlumberger from $65.00 to $60.00 and set an “overweight” rating on the stock in a research report on Monday, September 16th. Two research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Schlumberger presently has an average rating of “Moderate Buy” and an average price target of $60.97.

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.