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

Spectrum Asset Management Inc. NB CA lessened its stake in Schlumberger Limited (NYSE:SLB) by 4.9% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 15,991 shares of the oil and gas company’s stock after selling 818 shares during the quarter. Spectrum Asset Management Inc. NB CA’s holdings in Schlumberger were worth $675,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. ORG Partners LLC increased its position 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 acquiring an additional 484 shares during the last quarter. Register Financial Advisors LLC bought a new stake in Schlumberger during the first quarter worth about $27,000. Bruce G. Allen Investments LLC increased its holdings in shares of 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 worth $28,000 after buying an additional 392 shares during the period. Unique Wealth Strategies LLC purchased a new position in shares of Schlumberger in the second quarter worth about $30,000. Finally, Manchester Capital Management LLC increased its holdings in shares of Schlumberger by 297.9% in the first quarter. Manchester Capital Management LLC now owns 569 shares of the oil and gas company’s stock worth $31,000 after buying an additional 426 shares during the period. 81.99% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Morgan Stanley reduced their price target on Schlumberger from $65.00 to $60.00 and set an “overweight” rating on the stock in a report on Monday, September 16th. Wells Fargo & Company dropped their price target on Schlumberger from $53.00 to $49.00 and set an “equal weight” rating on the stock in a research report on Wednesday, September 25th. TD Cowen lowered their price objective on Schlumberger from $68.00 to $65.00 and set a “buy” rating on the stock in a research report on Monday. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $69.00 price objective on shares of Schlumberger in a research report on Thursday, October 3rd. Finally, Citigroup decreased their target price on shares of Schlumberger from $60.00 to $54.00 and set a “buy” rating for the company in a research note on Tuesday. Two analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $60.97.

Schlumberger Stock Up 0.5 %

SLB opened at $42.13 on Thursday. The firm has a 50-day simple moving average of $43.00 and a two-hundred day simple moving average of $45.75. Schlumberger Limited has a 52 week low of $38.66 and a 52 week high of $59.05. The company has a market capitalization of $59.82 billion, a PE ratio of 13.55, a price-to-earnings-growth ratio of 1.27 and a beta of 1.51. The company has a quick ratio of 1.13, a current ratio of 1.49 and a debt-to-equity ratio of 0.55.

Schlumberger (NYSE:SLB) last released its quarterly earnings data on Friday, October 18th. The oil and gas company reported $0.89 EPS for the quarter, beating the consensus estimate of $0.88 by $0.01. Schlumberger had a net margin of 12.56% and a return on equity of 21.92%. 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 prior year, the firm earned $0.78 EPS. The business’s revenue was up 10.2% on a year-over-year basis. Analysts forecast that Schlumberger Limited will post 3.44 earnings per share for the current fiscal year.

Schlumberger Dividend Announcement

The business 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 dividend of $0.275 per share. The ex-dividend date of this dividend is Wednesday, December 4th. This represents a $1.10 annualized dividend and a 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.