Pillar Pacific Capital Management LLC trimmed its holdings in Schlumberger Limited. (NYSE:SLB) by 20.2% during the fourth quarter, Holdings Channel reports. The fund owned 45,763 shares of the oil and gas company’s stock after selling 11,550 shares during the period. Pillar Pacific Capital Management LLC’s holdings in Schlumberger were worth $3,084,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also modified their holdings of the company. Meyer Handelman Co. grew its stake in Schlumberger by 12.3% in the 3rd quarter. Meyer Handelman Co. now owns 232,113 shares of the oil and gas company’s stock valued at $16,193,000 after acquiring an additional 25,494 shares during the last quarter. WFG Advisors LP grew its stake in Schlumberger by 51.5% in the 2nd quarter. WFG Advisors LP now owns 11,332 shares of the oil and gas company’s stock valued at $746,000 after acquiring an additional 3,853 shares during the last quarter. MUFG Securities EMEA plc acquired a new stake in Schlumberger in the 2nd quarter valued at about $14,156,000. Wilkins Investment Counsel Inc. grew its stake in Schlumberger by 8.8% in the 2nd quarter. Wilkins Investment Counsel Inc. now owns 111,235 shares of the oil and gas company’s stock valued at $7,324,000 after acquiring an additional 8,950 shares during the last quarter. Finally, King Luther Capital Management Corp grew its stake in Schlumberger by 1.2% in the 2nd quarter. King Luther Capital Management Corp now owns 861,701 shares of the oil and gas company’s stock valued at $56,734,000 after acquiring an additional 9,874 shares during the last quarter. 80.01% of the stock is currently owned by hedge funds and other institutional investors.
In related news, CFO Simon Ayat sold 75,000 shares of the firm’s stock in a transaction that occurred on Wednesday, January 24th. The shares were sold at an average price of $78.86, for a total value of $5,914,500.00. Following the transaction, the chief financial officer now owns 138,827 shares in the company, valued at $10,947,897.22. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Howard Guild sold 25,000 shares of the firm’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 transaction of $1,956,500.00. Following the completion of the transaction, the insider now owns 22,410 shares in the company, valued at approximately $1,753,806.60. The disclosure for this sale can be found here. Company insiders own 0.48% of the company’s stock.
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 Thomson Reuters’ consensus estimate of $0.44 by $0.04. Schlumberger had a negative net margin of 4.94% and a positive return on equity of 5.27%. The firm had revenue of $8.18 billion for the quarter, compared to analyst estimates of $8.12 billion. During the same quarter last year, the firm posted $0.27 earnings per share. Schlumberger’s revenue for the quarter was up 15.1% compared to the same quarter last year. equities analysts expect that Schlumberger Limited. will post 2.16 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, April 13th. Investors of record on Wednesday, February 7th will be issued a $0.50 dividend. The ex-dividend date is Tuesday, February 6th. This represents a $2.00 annualized dividend and a yield of 2.98%. Schlumberger’s payout ratio is -175.44%.
A number of equities research analysts recently commented on SLB shares. ValuEngine cut shares of Schlumberger from a “hold” rating to a “sell” rating in a research note on Thursday, March 1st. Jefferies Group set a $78.00 price target on shares of Schlumberger and gave the stock a “buy” rating in a research note on Thursday, January 4th. B. Riley set a $80.00 price target on shares of Schlumberger and gave the stock a “buy” rating in a research note on Wednesday, January 3rd. SunTrust Banks raised their price target on shares of Schlumberger from $72.00 to $80.00 and gave the stock a “hold” rating in a research note on Tuesday, January 23rd. Finally, Zacks Investment Research cut shares of Schlumberger from a “hold” rating to a “sell” rating in a research note on Tuesday, January 23rd. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, twenty-seven have assigned a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $81.59.
TRADEMARK VIOLATION NOTICE: “Pillar Pacific Capital Management LLC Lowers Position in Schlumberger Limited. (SLB)” was first reported by Ticker Report and is the property of of Ticker Report. If you are viewing this article on another domain, it was stolen and reposted in violation of U.S. and international trademark and copyright laws. The correct version of this article can be viewed at https://www.tickerreport.com/banking-finance/3260958/pillar-pacific-capital-management-llc-lowers-position-in-schlumberger-limited-slb.html.
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.
Want to see what other hedge funds are holding SLB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Schlumberger Limited. (NYSE:SLB).
Receive News & Ratings for Schlumberger Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Schlumberger and related companies with MarketBeat.com's FREE daily email newsletter.