Schlumberger Limited (NYSE:SLB) Shares Sold by 1776 Wealth LLC

1776 Wealth LLC cut its stake in shares of Schlumberger Limited (NYSE:SLB) by 7.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 6,805 shares of the oil and gas company’s stock after selling 553 shares during the quarter. 1776 Wealth LLC’s holdings in Schlumberger were worth $285,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of SLB. ORG Partners LLC lifted its holdings in Schlumberger by 393.5% in the third quarter. ORG Partners LLC now owns 607 shares of the oil and gas company’s stock valued at $25,000 after acquiring an additional 484 shares during the period. Bruce G. Allen Investments LLC lifted its holdings 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 acquiring an additional 392 shares during the period. Unique Wealth Strategies LLC acquired a new stake in Schlumberger in the second quarter valued at $30,000. Riverview Trust Co lifted its holdings in Schlumberger by 90.6% in the second quarter. Riverview Trust Co now owns 648 shares of the oil and gas company’s stock valued at $31,000 after acquiring an additional 308 shares during the period. Finally, First Community Trust NA increased its position in shares of Schlumberger by 264.0% in the second quarter. First Community Trust NA now owns 728 shares of the oil and gas company’s stock valued at $34,000 after buying an additional 528 shares in the last quarter. 81.99% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Schlumberger news, EVP Abdellah Merad sold 60,000 shares of the company’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 value of $2,514,000.00. Following the transaction, the executive vice president now directly owns 211,937 shares of the company’s stock, valued at $8,880,160.30. This represents a 22.06 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.26% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. Benchmark restated a “buy” rating and issued a $68.00 price target on shares of Schlumberger in a research report on Monday, July 22nd. Sanford C. Bernstein upgraded Schlumberger to a “strong-buy” rating in a research report on Tuesday. Susquehanna dropped their price target on Schlumberger from $60.00 to $56.00 and set a “positive” rating for the company in a research report on Monday, October 21st. Evercore ISI dropped their price target on Schlumberger from $74.00 to $62.00 and set an “outperform” rating for the company in a research report on Monday, October 21st. Finally, Citigroup dropped their price objective on Schlumberger from $60.00 to $54.00 and set a “buy” rating for the company in a research report on Tuesday, October 22nd. Two equities 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 stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $60.97.

Schlumberger Trading Down 0.6 %

SLB traded down $0.27 during midday trading on Friday, hitting $43.18. The company’s stock had a trading volume of 9,632,621 shares, compared to its average volume of 11,276,779. The firm has a market cap of $60.98 billion, a P/E ratio of 13.88, a PEG 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 current ratio of 1.48, a quick ratio of 1.12 and a debt-to-equity ratio of 0.52. The firm has a 50-day moving average price of $42.40 and a two-hundred day moving average price of $44.71.

Schlumberger (NYSE:SLB) last released its quarterly earnings data on Friday, October 18th. The oil and gas company reported $0.89 earnings per share for the quarter, beating the consensus estimate of $0.88 by $0.01. The business had revenue of $9.16 billion for the quarter, compared to analyst estimates of $9.27 billion. Schlumberger had a return on equity of 21.84% and a net margin of 12.44%. The company’s revenue was up 10.2% compared to the same quarter last year. During the same period in the previous year, the company posted $0.78 EPS. On average, research analysts anticipate that Schlumberger Limited will post 3.4 earnings per share for the current year.

Schlumberger Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 9th. Investors of record on Wednesday, December 4th will be given a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a yield of 2.55%. The ex-dividend date of this dividend is Wednesday, December 4th. Schlumberger’s dividend payout ratio (DPR) is presently 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.