Sumitomo Mitsui Trust Group Inc. Sells 47,857 Shares of Schlumberger Limited (NYSE:SLB)

Sumitomo Mitsui Trust Group Inc. reduced its stake in Schlumberger Limited (NYSE:SLB - Free Report) by 0.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,283,346 shares of the oil and gas company's stock after selling 47,857 shares during the period. Sumitomo Mitsui Trust Group Inc. owned 0.37% of Schlumberger worth $221,636,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of SLB. ORG Partners LLC increased its stake in shares of Schlumberger by 393.5% in the 3rd quarter. ORG Partners LLC now owns 607 shares of the oil and gas company's stock worth $25,000 after acquiring an additional 484 shares in the last quarter. Bruce G. Allen Investments LLC increased its stake in shares of Schlumberger by 204.2% during the second quarter. Bruce G. Allen Investments LLC now owns 584 shares of the oil and gas company's stock valued at $28,000 after purchasing an additional 392 shares in the last quarter. Unique Wealth Strategies LLC purchased a new position in shares of Schlumberger during the second quarter valued at approximately $30,000. Riverview Trust Co boosted its position in shares of Schlumberger by 90.6% in the 2nd quarter. Riverview Trust Co now owns 648 shares of the oil and gas company's stock worth $31,000 after purchasing an additional 308 shares in the last quarter. Finally, First Community Trust NA grew its stake in shares of Schlumberger by 264.0% in the 2nd quarter. First Community Trust NA now owns 728 shares of the oil and gas company's stock worth $34,000 after buying an additional 528 shares during the last quarter. 81.99% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

SLB has been the topic of several analyst reports. Barclays dropped their target price on Schlumberger from $67.00 to $63.00 and set an "overweight" rating on the stock in a report on Wednesday, October 16th. Citigroup dropped their price target 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. Dbs Bank assumed coverage on shares of Schlumberger in a research report on Wednesday, September 18th. They set a "buy" rating and a $64.50 price objective on the stock. JPMorgan Chase & Co. decreased their target price on shares of Schlumberger from $64.00 to $60.00 and set an "overweight" rating for the company in a report on Tuesday, October 1st. Finally, Susquehanna dropped their target price on shares of Schlumberger from $60.00 to $56.00 and set a "positive" rating on the stock in a research note on Monday, October 21st. Two analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $60.97.

Insider Transactions at Schlumberger

In other news, EVP Abdellah Merad sold 60,000 shares of the firm's stock in a transaction dated Thursday, October 24th. The stock was sold at an average price of $41.90, for a total value of $2,514,000.00. Following the transaction, the executive vice president now owns 211,937 shares of the company's stock, valued at $8,880,160.30. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.26% of the stock is currently owned by company insiders.

Schlumberger Stock Performance

NYSE:SLB traded down $0.74 on Wednesday, hitting $43.59. The stock had a trading volume of 9,715,082 shares, compared to its average volume of 11,289,707. The business's 50-day simple moving average is $42.26 and its two-hundred day simple moving average is $44.77. The stock has a market cap of $61.56 billion, a price-to-earnings ratio of 14.02, a price-to-earnings-growth ratio of 1.56 and a beta of 1.52. Schlumberger Limited has a 52-week low of $38.66 and a 52-week high of $55.69. The company has a quick ratio of 1.12, a current ratio of 1.48 and a debt-to-equity ratio of 0.52.

Schlumberger (NYSE:SLB - Get Free Report) last posted its quarterly earnings data 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. 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 the consensus estimate of $9.27 billion. During the same quarter last year, the firm posted $0.78 earnings per share. The firm's revenue was up 10.2% compared to the same quarter last year. As a group, research analysts predict that Schlumberger Limited will post 3.4 earnings per share for the current year.

Schlumberger Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 9th. Stockholders of record on Wednesday, December 4th will be paid a $0.275 dividend. The ex-dividend date of this dividend is Wednesday, December 4th. This represents a $1.10 annualized dividend and a dividend yield of 2.52%. Schlumberger's dividend payout ratio (DPR) is 35.37%.

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.