Stonebridge Financial Planning Group LLC Lowers Stock Position in Schlumberger Limited (NYSE:SLB)

Stonebridge Financial Planning Group LLC cut its stake in shares of Schlumberger Limited (NYSE:SLB) by 16.7% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,990 shares of the oil and gas company’s stock after selling 1,000 shares during the period. Stonebridge Financial Planning Group LLC’s holdings in Schlumberger were worth $209,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Crescent Grove Advisors LLC acquired a new position in shares of Schlumberger in the second quarter valued at approximately $257,000. Victory Capital Management Inc. increased its holdings in shares of Schlumberger by 8.7% in the 3rd quarter. Victory Capital Management Inc. now owns 817,771 shares of the oil and gas company’s stock valued at $34,305,000 after acquiring an additional 65,318 shares during the period. National Bank of Canada FI boosted its stake in Schlumberger by 15.0% during the 1st quarter. National Bank of Canada FI now owns 396,382 shares of the oil and gas company’s stock worth $21,726,000 after purchasing an additional 51,637 shares during the period. Concurrent Investment Advisors LLC boosted its stake in shares of Schlumberger by 269.1% during the third quarter. Concurrent Investment Advisors LLC now owns 19,718 shares of the oil and gas company’s stock worth $827,000 after buying an additional 14,376 shares during the period. Finally, Public Sector Pension Investment Board grew its stake in shares of Schlumberger by 0.6% in the 2nd quarter. Public Sector Pension Investment Board now owns 1,901,713 shares of the oil and gas company’s stock valued at $89,723,000 after purchasing an additional 11,813 shares during the last quarter. 81.99% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Schlumberger news, EVP Abdellah Merad sold 60,000 shares of the business’s stock in a transaction dated Thursday, October 24th. The stock was sold at an average price of $41.90, for a total transaction of $2,514,000.00. Following the transaction, the executive vice president now owns 211,937 shares in the company, valued at $8,880,160.30. The trade was a 22.06 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.26% of the stock is owned by corporate insiders.

Schlumberger Trading Up 0.8 %

Schlumberger stock traded up $0.36 during trading on Wednesday, hitting $43.46. The company’s stock had a trading volume of 269,344 shares, compared to its average volume of 11,194,885. The stock’s fifty day moving average is $42.53 and its 200 day moving average is $44.61. 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 1-year low of $38.66 and a 1-year high of $55.69. The stock has a market capitalization of $61.37 billion, a price-to-earnings ratio of 13.86, a P/E/G ratio of 1.52 and a beta of 1.52.

Schlumberger (NYSE:SLB) last announced its quarterly earnings results on Friday, October 18th. The oil and gas company reported $0.89 earnings per share for the quarter, beating analysts’ consensus estimates of $0.88 by $0.01. The company had revenue of $9.16 billion for the quarter, compared to analyst estimates 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 quarter last year, the business earned $0.78 EPS. As a group, equities research analysts predict that Schlumberger Limited will post 3.4 EPS for the current year.

Schlumberger Dividend Announcement

The firm also recently announced 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. This represents a $1.10 dividend on an annualized basis and a dividend yield of 2.53%. The ex-dividend date is Wednesday, December 4th. Schlumberger’s dividend payout ratio is presently 35.37%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on SLB. Royal Bank of Canada reissued an “outperform” rating and set a $69.00 target price on shares of Schlumberger in a research note on Thursday, October 3rd. Citigroup decreased their target price on shares of Schlumberger from $60.00 to $54.00 and set a “buy” rating on the stock in a research report on Tuesday, October 22nd. Morgan Stanley cut their price target on shares of Schlumberger from $65.00 to $60.00 and set an “overweight” rating for the company in a report on Monday, September 16th. Wells Fargo & Company decreased their price objective on shares of Schlumberger from $53.00 to $49.00 and set an “equal weight” rating on the stock in a report on Wednesday, September 25th. Finally, Susquehanna dropped their target price on shares of Schlumberger from $60.00 to $56.00 and set a “positive” rating for the company in a report on Monday, October 21st. Two research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Schlumberger has a consensus rating of “Moderate Buy” and an average price target of $60.97.

About Schlumberger

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.