Spectrum Asset Management Inc. NB CA Sells 818 Shares of Schlumberger Limited (NYSE:SLB)

Spectrum Asset Management Inc. NB CA lowered its position in shares of Schlumberger Limited (NYSE:SLB) by 4.9% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 15,991 shares of the oil and gas company’s stock after selling 818 shares during the period. Spectrum Asset Management Inc. NB CA’s holdings in Schlumberger were worth $675,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. ORG Partners LLC increased its stake in shares of Schlumberger by 393.5% during the third quarter. ORG Partners LLC now owns 607 shares of the oil and gas company’s stock valued at $25,000 after buying an additional 484 shares during the period. Register Financial Advisors LLC purchased a new position in Schlumberger in the first quarter valued at about $27,000. Bruce G. Allen Investments LLC grew its stake in Schlumberger by 204.2% in the second quarter. Bruce G. Allen Investments LLC now owns 584 shares of the oil and gas company’s stock valued at $28,000 after purchasing an additional 392 shares during the last quarter. Unique Wealth Strategies LLC purchased a new position in Schlumberger in the second quarter valued at about $30,000. Finally, Manchester Capital Management LLC grew its stake in Schlumberger by 297.9% in the first quarter. Manchester Capital Management LLC now owns 569 shares of the oil and gas company’s stock valued at $31,000 after purchasing an additional 426 shares during the last quarter. Hedge funds and other institutional investors own 81.99% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have issued reports on SLB shares. Evercore ISI cut their target price on Schlumberger from $74.00 to $62.00 and set an “outperform” rating on the stock in a research note on Monday. Barclays cut their target price on Schlumberger from $67.00 to $63.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 16th. BMO Capital Markets cut their target price on Schlumberger from $60.00 to $58.00 and set an “outperform” rating on the stock in a research note on Thursday, October 10th. Susquehanna dropped their price target on Schlumberger from $60.00 to $56.00 and set a “positive” rating on the stock in a research note on Monday. Finally, Morgan Stanley dropped their price target on Schlumberger from $65.00 to $60.00 and set an “overweight” rating on the stock in a research note on Monday, September 16th. Two research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. According to data from MarketBeat, Schlumberger currently has a consensus rating of “Moderate Buy” and an average price target of $60.97.

Schlumberger Price Performance

SLB opened at $42.13 on Thursday. The stock’s 50-day moving average price is $43.00 and its 200 day moving average price is $45.75. Schlumberger Limited has a 12-month low of $38.66 and a 12-month high of $59.05. The company has a current ratio of 1.49, a quick ratio of 1.13 and a debt-to-equity ratio of 0.55. The firm has a market cap of $59.82 billion, a price-to-earnings ratio of 13.55, a PEG ratio of 1.27 and a beta of 1.51.

Schlumberger (NYSE:SLB) last posted 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. The company had revenue of $9.16 billion for the quarter, compared to analyst estimates of $9.27 billion. Schlumberger had a return on equity of 21.92% and a net margin of 12.56%. Schlumberger’s revenue for the quarter was up 10.2% compared to the same quarter last year. During the same quarter last year, the company earned $0.78 EPS. As a group, sell-side analysts expect that Schlumberger Limited will post 3.44 earnings per share for the current year.

Schlumberger Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 9th. Stockholders of record on Wednesday, December 4th will be issued a $0.275 dividend. The ex-dividend date is Wednesday, December 4th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 2.61%. Schlumberger’s payout ratio is currently 35.37%.

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.