Hotchkis & Wiley Capital Management LLC Sells 12,500 Shares of Schlumberger Limited (NYSE:SLB)

Hotchkis & Wiley Capital Management LLC lessened its stake in Schlumberger Limited (NYSE:SLB) by 0.7% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,881,097 shares of the oil and gas company’s stock after selling 12,500 shares during the quarter. Hotchkis & Wiley Capital Management LLC owned about 0.13% of Schlumberger worth $78,912,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of SLB. Financial Advocates Investment Management raised its holdings in Schlumberger by 3.4% in the 2nd quarter. Financial Advocates Investment Management now owns 6,558 shares of the oil and gas company’s stock valued at $309,000 after buying an additional 218 shares during the last quarter. Chilton Capital Management LLC increased its stake in shares of Schlumberger by 0.8% during the second quarter. Chilton Capital Management LLC now owns 26,202 shares of the oil and gas company’s stock valued at $1,236,000 after buying an additional 219 shares during the period. Grove Bank & Trust boosted its holdings in Schlumberger by 17.4% in the third quarter. Grove Bank & Trust now owns 1,514 shares of the oil and gas company’s stock worth $64,000 after acquiring an additional 224 shares in the last quarter. First PREMIER Bank lifted its holdings in shares of Schlumberger by 8.7% during the 2nd quarter. First PREMIER Bank now owns 2,842 shares of the oil and gas company’s stock valued at $134,000 after buying an additional 227 shares during the period. Finally, Addison Advisors LLC raised its position in shares of Schlumberger by 6.5% during the 2nd quarter. Addison Advisors LLC now owns 3,794 shares of the oil and gas company’s stock valued at $179,000 after purchasing an additional 233 shares during the period. 81.99% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

SLB has been the topic of several research 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 research note on Wednesday, October 16th. Stifel Nicolaus reissued a “buy” rating and issued a $60.00 target price (down previously from $62.00) on shares of Schlumberger in a research report on Monday, October 21st. BMO Capital Markets decreased their price target on shares of Schlumberger from $60.00 to $58.00 and set an “outperform” rating on the stock in a research note on Thursday, October 10th. Royal Bank of Canada restated an “outperform” rating and issued a $69.00 price target on shares of Schlumberger in a research report on Thursday, October 3rd. Finally, TD Cowen cut their target price on shares of Schlumberger from $68.00 to $65.00 and set a “buy” rating for the company in a research report on Monday, October 21st. Two research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $60.97.

Insider Buying and Selling at Schlumberger

In related news, EVP Abdellah Merad sold 60,000 shares of the company’s stock in a transaction on Thursday, October 24th. The shares were sold at an average price of $41.90, for a total value of $2,514,000.00. Following the completion of the transaction, the executive vice president now directly owns 211,937 shares of the company’s stock, valued at approximately $8,880,160.30. This represents a 22.06 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.26% of the company’s stock.

Schlumberger Stock Down 0.7 %

NYSE:SLB opened at $43.63 on Tuesday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.12 and a current ratio of 1.48. Schlumberger Limited has a fifty-two week low of $38.66 and a fifty-two week high of $55.69. The company’s 50-day simple moving average is $42.98 and its 200-day simple moving average is $44.36. The stock has a market capitalization of $61.61 billion, a P/E ratio of 14.03, a P/E/G ratio of 1.55 and a beta of 1.51.

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

Schlumberger Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 9th. Shareholders of record on Wednesday, December 4th will be issued a $0.275 dividend. This represents a $1.10 annualized dividend and a dividend yield of 2.52%. The ex-dividend date is Wednesday, December 4th. Schlumberger’s payout ratio 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.