Hardman Johnston Global Advisors LLC Sells 12,860 Shares of Schlumberger Limited (NYSE:SLB)

Hardman Johnston Global Advisors LLC trimmed its holdings in Schlumberger Limited (NYSE:SLB - Free Report) by 11.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 97,648 shares of the oil and gas company's stock after selling 12,860 shares during the period. Hardman Johnston Global Advisors LLC's holdings in Schlumberger were worth $4,096,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in shares of Schlumberger by 1.4% in the first quarter. Vanguard Group Inc. now owns 134,150,168 shares of the oil and gas company's stock valued at $7,352,771,000 after purchasing an additional 1,868,688 shares in the last quarter. Capital World Investors lifted its holdings in shares of Schlumberger by 72.3% in the first quarter. Capital World Investors now owns 88,950,956 shares of the oil and gas company's stock valued at $4,875,402,000 after purchasing an additional 37,333,485 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of Schlumberger by 14.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 85,986,039 shares of the oil and gas company's stock valued at $4,712,897,000 after purchasing an additional 10,606,191 shares in the last quarter. Legal & General Group Plc lifted its holdings in shares of Schlumberger by 14.0% in the second quarter. Legal & General Group Plc now owns 12,686,384 shares of the oil and gas company's stock valued at $598,544,000 after purchasing an additional 1,560,684 shares in the last quarter. Finally, Boston Partners lifted its holdings in shares of Schlumberger by 35.8% in the first quarter. Boston Partners now owns 11,640,827 shares of the oil and gas company's stock valued at $635,883,000 after purchasing an additional 3,069,395 shares in the last quarter. 81.99% of the stock is owned by institutional investors and hedge funds.

Schlumberger Stock Performance

Shares of Schlumberger stock traded up $3.23 on Wednesday, hitting $43.78. The stock had a trading volume of 25,370,513 shares, compared to its average volume of 11,250,631. Schlumberger Limited has a twelve month low of $38.66 and a twelve month high of $55.69. The business's 50 day moving average is $42.25 and its two-hundred day moving average is $44.96. The company has a quick ratio of 1.12, a current ratio of 1.48 and a debt-to-equity ratio of 0.52. The stock has a market cap of $61.82 billion, a price-to-earnings ratio of 14.08, a price-to-earnings-growth ratio of 1.42 and a beta of 1.52.

Schlumberger (NYSE:SLB - Get Free Report) last issued its quarterly earnings results on Friday, October 18th. The oil and gas company reported $0.89 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.88 by $0.01. The business had revenue of $9.16 billion for the quarter, compared to the consensus estimate of $9.27 billion. Schlumberger had a return on equity of 21.84% and a net margin of 12.44%. The firm's quarterly revenue was up 10.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.78 earnings per share. Analysts forecast that Schlumberger Limited will post 3.4 EPS for the current year.

Schlumberger Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 9th. Investors of record on Wednesday, December 4th will be given a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a yield of 2.51%. The ex-dividend date is Wednesday, December 4th. Schlumberger's dividend payout ratio is currently 35.37%.

Insider Buying and Selling

In related news, EVP Abdellah Merad sold 60,000 shares of the stock in a transaction that occurred on Thursday, October 24th. The stock was sold at an average price of $41.90, for a total transaction of $2,514,000.00. Following the sale, the executive vice president now owns 211,937 shares of the company's stock, valued at $8,880,160.30. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.26% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

SLB has been the topic of a number of research reports. JPMorgan Chase & Co. cut their price target on Schlumberger from $64.00 to $60.00 and set an "overweight" rating on the stock in a report on Tuesday, October 1st. TD Cowen dropped their target price on Schlumberger from $68.00 to $65.00 and set a "buy" rating on the stock in a report on Monday, October 21st. Citigroup dropped their target price on Schlumberger from $60.00 to $54.00 and set a "buy" rating on the stock in a report on Tuesday, October 22nd. Royal Bank of Canada reiterated an "outperform" rating and set a $69.00 target price on shares of Schlumberger in a report on Thursday, October 3rd. Finally, Evercore ISI dropped their target price on Schlumberger from $74.00 to $62.00 and set an "outperform" rating on the stock in a report on Monday, October 21st. Two analysts have rated the stock with a hold rating and seventeen 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 $60.97.

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.