Hobbs Group Advisors LLC Sells 1,000 Shares of Schlumberger Limited (NYSE:SLB)

Hobbs Group Advisors LLC lessened its holdings in Schlumberger Limited (NYSE:SLB) by 45.9% in the third quarter, HoldingsChannel reports. The fund owned 1,181 shares of the oil and gas company’s stock after selling 1,000 shares during the period. Hobbs Group Advisors LLC’s holdings in Schlumberger were worth $50,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of SLB. ORG Partners LLC lifted its position in Schlumberger by 393.5% during the third quarter. ORG Partners LLC now owns 607 shares of the oil and gas company’s stock worth $25,000 after purchasing an additional 484 shares during the period. Prospera Private Wealth LLC acquired a new stake in shares of Schlumberger in the 3rd quarter valued at approximately $29,000. Unique Wealth Strategies LLC bought a new stake in shares of Schlumberger during the 2nd quarter valued at approximately $30,000. Ashton Thomas Securities LLC acquired a new stake in Schlumberger in the third quarter valued at approximately $37,000. Finally, DiNuzzo Private Wealth Inc. boosted its holdings in shares of Schlumberger by 1,068.3% during the 3rd quarter. DiNuzzo Private Wealth Inc. now owns 958 shares of the oil and gas company’s stock valued at $40,000 after acquiring an additional 876 shares in the last quarter. Institutional investors own 81.99% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on SLB. Susquehanna lowered their price objective on Schlumberger from $60.00 to $56.00 and set a “positive” rating for the company in a research note on Monday, October 21st. TD Cowen cut their price target on shares of Schlumberger from $68.00 to $65.00 and set a “buy” rating on the stock in a report on Monday, October 21st. Royal Bank of Canada reissued an “outperform” rating and issued a $69.00 price target on shares of Schlumberger in a research note on Thursday, October 3rd. Wells Fargo & Company decreased their target price on shares of Schlumberger from $53.00 to $49.00 and set an “equal weight” rating for the company in a research report on Wednesday, September 25th. Finally, Sanford C. Bernstein raised shares of Schlumberger to a “strong-buy” rating in a research note on Tuesday, November 12th. Two 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. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $60.91.

Insiders Place Their Bets

In related news, EVP Abdellah Merad sold 60,000 shares of the 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 sale, the executive vice president now directly owns 211,937 shares of the company’s stock, valued at approximately $8,880,160.30. This trade represents a 22.06 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.26% of the company’s stock.

Schlumberger Stock Performance

Shares of SLB stock opened at $41.55 on Thursday. The company has a current ratio of 1.48, a quick ratio of 1.12 and a debt-to-equity ratio of 0.52. The firm has a fifty day simple moving average of $42.96 and a two-hundred day simple moving average of $44.09. The firm has a market capitalization of $58.67 billion, a PE ratio of 13.36, a price-to-earnings-growth ratio of 1.45 and a beta of 1.51. Schlumberger Limited has a 12 month low of $38.66 and a 12 month high of $55.69.

Schlumberger (NYSE:SLB) last released its quarterly earnings results on Friday, October 18th. The oil and gas company reported $0.89 earnings per share (EPS) 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 business had revenue of $9.16 billion during the quarter, compared to the consensus estimate of $9.27 billion. During the same quarter in the previous year, the business earned $0.78 EPS. The company’s quarterly revenue was up 10.2% on a year-over-year basis. Analysts forecast that Schlumberger Limited will post 3.39 EPS for the current fiscal year.

Schlumberger Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 9th. Shareholders of record on Wednesday, December 4th will be paid a $0.275 dividend. The ex-dividend date is Wednesday, December 4th. This represents a $1.10 annualized dividend and a yield of 2.65%. Schlumberger’s dividend payout ratio (DPR) is 35.37%.

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.