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Are Institutional Investors Bearish on Schlumberger?

Rekha Khandelwal, CFA - Author

Aug. 18 2020, Updated 6:24 a.m. ET

Top investors in Schlumberger

The Vanguard Group, State Street Global Advisors, and BlackRock Institutional Trust Company are the top three institutional investors in Schlumberger (SLB). They own 7.8%, 4.8%, and 4.3%, respectively, of Schlumberger’s outstanding shares. According to the latest filings, the Vanguard Group and State Street Global Advisors added net 5.7 million and 1.4 million Schlumberger shares, respectively, to their holdings. BlackRock Institutional Trust Company sold net 3.7 million Schlumberger shares in the second quarter.

The above table shows the top institutional investors in Schlumberger and their latest position changes. Together, the top ten investors hold ~31% of Schlumberger’s outstanding shares.

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Position changes

Collectively, the ten investors sold net 10.2 million Schlumberger shares during the second quarter. A sale of 10.3 million shares by Capital World Investors was the largest sale transaction. Seven of the top ten investors reduced their positions in Schlumberger in the second quarter, which likely hints at investors’ bearish sentiment.

Barrow, Hanley, Mewhinney & Strauss, not among the top ten investors, bought 15.1 million Schlumberger shares, according to the latest filings.

Schlumberger has ~1.4 billion outstanding shares—99.9% are free-floating shares. Institutions own ~80% of Schlumberger’s outstanding shares. Schlumberger forms 20.5% of the VanEck Vectors Oil Services ETF (OIH).

In this series, we’ll discuss institutional investors’ activity in S&P 500 oilfield services stocks—TechnipFMC (FTI), Halliburton (HAL), Baker Hughes (BHGE), and National Oilwell Varco (NOV). Next, we’ll discuss the institutional activity in TechnipFMC in the second quarter.


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