Sicart Associates LLC Reduces Holdings in Schlumberger Limited (NYSE:SLB)

Sicart Associates LLC lowered its position in shares of Schlumberger Limited (NYSE:SLB) by 2.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 196,003 shares of the oil and gas company’s stock after selling 5,009 shares during the quarter. Schlumberger makes up approximately 2.7% of Sicart Associates LLC’s holdings, making the stock its 14th biggest holding. Sicart Associates LLC’s holdings in Schlumberger were worth $7,570,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the company. Grove Bank & Trust increased its stake in Schlumberger by 17.4% during the 3rd quarter. Grove Bank & Trust now owns 1,514 shares of the oil and gas company’s stock worth $64,000 after buying an additional 224 shares during the period. M&R Capital Management Inc. boosted its stake in Schlumberger by 1.7% during the 3rd quarter. M&R Capital Management Inc. now owns 14,817 shares of the oil and gas company’s stock valued at $622,000 after purchasing an additional 241 shares during the period. GM Advisory Group LLC lifted its stake in shares of Schlumberger by 3.8% in the 3rd quarter. GM Advisory Group LLC now owns 6,701 shares of the oil and gas company’s stock worth $281,000 after acquiring an additional 247 shares during the period. Cordatus Wealth Management LLC raised its holdings in shares of Schlumberger by 2.1% during the third quarter. Cordatus Wealth Management LLC now owns 13,383 shares of the oil and gas company’s stock valued at $561,000 after acquiring an additional 281 shares during the period. Finally, OneDigital Investment Advisors LLC boosted its holdings in shares of Schlumberger by 0.7% during the 3rd quarter. OneDigital Investment Advisors LLC now owns 40,715 shares of the oil and gas company’s stock worth $1,708,000 after buying an additional 284 shares during the period. Institutional investors and hedge funds own 81.99% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on SLB. BMO Capital Markets reduced their target price on shares of Schlumberger from $53.00 to $48.00 in a research note on Thursday. Piper Sandler assumed coverage on shares of Schlumberger in a research report on Thursday, December 19th. They set a “neutral” rating and a $47.00 price target on the stock. Bank of America decreased their price objective on shares of Schlumberger from $58.00 to $54.00 and set a “buy” rating on the stock in a report on Monday, October 14th. Stifel Nicolaus decreased their price target on shares of Schlumberger from $60.00 to $59.00 and set a “buy” rating on the stock in a research note on Monday, December 23rd. Finally, Susquehanna reduced their price objective on shares of Schlumberger from $60.00 to $56.00 and set a “positive” rating on the stock in a research note on Monday, October 21st. Six analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $56.03.

Schlumberger Trading Up 1.3 %

Schlumberger stock opened at $41.16 on Friday. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.48 and a quick ratio of 1.12. Schlumberger Limited has a one year low of $36.52 and a one year high of $55.69. The stock has a market capitalization of $58.13 billion, a PE ratio of 13.24, a price-to-earnings-growth ratio of 1.35 and a beta of 1.52. The business’s fifty day moving average is $40.89 and its 200 day moving average is $42.93.

Schlumberger (NYSE:SLB) last posted its 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. Schlumberger had a return on equity of 21.84% and a net margin of 12.44%. The company had revenue of $9.16 billion for the quarter, compared to the consensus estimate of $9.27 billion. During the same quarter in the prior year, the company earned $0.78 earnings per share. Schlumberger’s revenue was up 10.2% on a year-over-year basis. On average, sell-side analysts predict that Schlumberger Limited will post 3.39 EPS for the current year.

Insider Buying and Selling

In other Schlumberger news, EVP Abdellah Merad sold 60,000 shares of the firm’s stock in a transaction that occurred on 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 completion of the transaction, the executive vice president now owns 211,937 shares in the company, valued at $8,880,160.30. This trade represents a 22.06 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.26% of the stock is currently owned by company insiders.

Schlumberger 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.