LJI Wealth Management LLC Lowers Position in Schlumberger Limited (NYSE:SLB)

LJI Wealth Management LLC trimmed its position in shares of Schlumberger Limited (NYSE:SLB) by 2.5% in the 3rd quarter, Holdings Channel.com reports. The firm owned 11,564 shares of the oil and gas company’s stock after selling 296 shares during the period. LJI Wealth Management LLC’s holdings in Schlumberger were worth $485,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in SLB. Crescent Grove Advisors LLC acquired a new stake in shares of Schlumberger during the 2nd quarter valued at about $257,000. National Bank of Canada FI increased its position in shares of Schlumberger by 15.0% in the first quarter. National Bank of Canada FI now owns 396,382 shares of the oil and gas company’s stock valued at $21,726,000 after buying an additional 51,637 shares in the last quarter. Concurrent Investment Advisors LLC raised its stake in shares of Schlumberger by 269.1% during the 3rd 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. Public Sector Pension Investment Board lifted its position in shares of Schlumberger by 0.6% during 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 buying an additional 11,813 shares in the last quarter. Finally, Los Angeles Capital Management LLC grew its stake in Schlumberger by 26.0% in the 3rd quarter. Los Angeles Capital Management LLC now owns 307,040 shares of the oil and gas company’s stock valued at $12,880,000 after acquiring an additional 63,413 shares during the period. 81.99% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Schlumberger news, EVP Abdellah Merad sold 60,000 shares of the company’s stock in a transaction 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 transaction, the executive vice president now directly owns 211,937 shares in the company, valued at $8,880,160.30. This represents a 22.06 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.26% of the stock is currently owned by insiders.

Schlumberger Trading Down 0.6 %

Shares of SLB stock traded down $0.27 during trading on Friday, hitting $43.18. 9,632,621 shares of the stock traded hands, compared to its average volume of 11,276,779. The firm has a market capitalization of $60.98 billion, a P/E ratio of 13.88, a price-to-earnings-growth ratio of 1.54 and a beta of 1.52. Schlumberger Limited has a 52-week low of $38.66 and a 52-week high of $55.69. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.48 and a quick ratio of 1.12. The firm’s fifty day moving average price is $42.40 and its 200-day moving average price is $44.71.

Schlumberger (NYSE:SLB) last posted its earnings results on Friday, October 18th. The oil and gas company reported $0.89 EPS 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 the consensus estimate of $9.27 billion. Schlumberger had a return on equity of 21.84% and a net margin of 12.44%. The company’s revenue for the quarter was up 10.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.78 earnings per share. As a group, research analysts forecast that Schlumberger Limited will post 3.4 earnings per share for the current fiscal year.

Schlumberger Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 9th. Shareholders of record on Wednesday, December 4th will be given a $0.275 dividend. The ex-dividend date of this dividend is Wednesday, December 4th. This represents a $1.10 dividend on an annualized basis and a yield of 2.55%. Schlumberger’s payout ratio is currently 35.37%.

Wall Street Analyst Weigh In

A number of analysts have recently commented on SLB shares. Stifel Nicolaus reissued a “buy” rating and set a $60.00 target price (down previously from $62.00) on shares of Schlumberger in a research note on Monday, October 21st. Susquehanna decreased their target price on Schlumberger from $60.00 to $56.00 and set a “positive” rating on the stock in a research report on Monday, October 21st. Wells Fargo & Company dropped their price target on Schlumberger from $53.00 to $49.00 and set an “equal weight” rating for the company in a research report on Wednesday, September 25th. Sanford C. Bernstein raised shares of Schlumberger to a “strong-buy” rating in a research note on Tuesday. Finally, Citigroup decreased their price target on shares of Schlumberger from $60.00 to $54.00 and set a “buy” rating on the stock in a research note on Tuesday, October 22nd. Two analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Schlumberger currently has an average rating of “Moderate Buy” and a consensus price target of $60.97.

Schlumberger Company 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.