Cortland Advisers LLC Has $48.09 Million Holdings in Schlumberger Limited. (SLB)

Cortland Advisers LLC lowered its stake in Schlumberger Limited. (NYSE:SLB) by 2.7% in the third quarter, Holdings Channel reports. The institutional investor owned 689,401 shares of the oil and gas company’s stock after selling 19,439 shares during the quarter. Schlumberger makes up approximately 2.2% of Cortland Advisers LLC’s portfolio, making the stock its 20th largest holding. Cortland Advisers LLC’s holdings in Schlumberger were worth $48,093,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently made changes to their positions in the company. Aviance Capital Management LLC acquired a new position in shares of Schlumberger during the 2nd quarter worth about $100,000. Mountain Capital Investment Advisors Inc acquired a new position in shares of Schlumberger during the 2nd quarter worth about $107,000. Tradewinds Capital Management LLC lifted its position in shares of Schlumberger by 22.3% during the 2nd quarter. Tradewinds Capital Management LLC now owns 1,636 shares of the oil and gas company’s stock worth $108,000 after purchasing an additional 298 shares during the last quarter. Jacobi Capital Management LLC lifted its position in shares of Schlumberger by 95.8% during the 2nd quarter. Jacobi Capital Management LLC now owns 2,044 shares of the oil and gas company’s stock worth $134,000 after purchasing an additional 1,000 shares during the last quarter. Finally, Atlantic Trust LLC acquired a new position in shares of Schlumberger during the 2nd quarter worth about $137,000. 79.30% of the stock is owned by institutional investors.

In other news, CFO Simon Ayat sold 75,000 shares of the company’s stock in a transaction that occurred on Wednesday, January 24th. The stock was sold at an average price of $78.86, for a total value of $5,914,500.00. Following the sale, the chief financial officer now directly owns 138,827 shares in the company, valued at approximately $10,947,897.22. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Howard Guild sold 25,000 shares of the company’s stock in a transaction that occurred on Monday, January 22nd. The shares were sold at an average price of $78.26, for a total value of $1,956,500.00. Following the completion of the sale, the insider now owns 22,410 shares in the company, valued at $1,753,806.60. The disclosure for this sale can be found here. Corporate insiders own 0.38% of the company’s stock.

Several equities analysts recently weighed in on SLB shares. Royal Bank of Canada reissued an “outperform” rating and set a $70.00 price objective (down previously from $86.00) on shares of Schlumberger in a research report on Monday, October 16th. FBR & Co reissued a “buy” rating on shares of Schlumberger in a research report on Friday, October 20th. Piper Jaffray Companies set a $74.00 price objective on Schlumberger and gave the stock a “buy” rating in a research report on Saturday, October 21st. Scotiabank set a $80.00 price objective on Schlumberger and gave the stock a “buy” rating in a research report on Saturday, October 21st. Finally, Morgan Stanley cut their price objective on Schlumberger from $90.00 to $81.00 and set an “overweight” rating for the company in a research report on Monday, October 23rd. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating, twenty-five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $82.29.

Schlumberger Limited. (SLB) opened at $67.40 on Friday. The company has a quick ratio of 0.95, a current ratio of 1.21 and a debt-to-equity ratio of 0.40. The company has a market capitalization of $93,370.00, a P/E ratio of -61.83, a price-to-earnings-growth ratio of 5.40 and a beta of 0.98. Schlumberger Limited. has a twelve month low of $61.02 and a twelve month high of $82.71.

Schlumberger (NYSE:SLB) last posted its quarterly earnings results on Friday, January 19th. The oil and gas company reported $0.48 EPS for the quarter, beating the consensus estimate of $0.44 by $0.04. Schlumberger had a positive return on equity of 5.27% and a negative net margin of 4.94%. The firm had revenue of $8.18 billion during the quarter, compared to analysts’ expectations of $8.12 billion. During the same quarter in the prior year, the firm posted $0.27 EPS. The company’s revenue for the quarter was up 15.1% on a year-over-year basis. equities research analysts expect that Schlumberger Limited. will post 2.19 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 13th. Stockholders of record on Wednesday, February 7th will be paid a $0.50 dividend. The ex-dividend date is Tuesday, February 6th. This represents a $2.00 annualized dividend and a dividend yield of 2.97%. Schlumberger’s dividend payout ratio is currently -183.49%.

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Schlumberger Company Profile

Schlumberger N.V. provides technology for reservoir characterization, drilling, production and processing to the oil and gas industry. The Company’s segments include Reservoir Characterization Group, Drilling Group, Production Group and Cameron Group. The Reservoir Characterization Group consists of the principal technologies involved in finding and defining hydrocarbon resources.

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Institutional Ownership by Quarter for Schlumberger (NYSE:SLB)

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