Schlumberger Limited (NYSE:SLB) Shares Sold by Court Place Advisors LLC

Court Place Advisors LLC lessened its stake in shares of Schlumberger Limited (NYSE:SLB) by 5.5% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 6,937 shares of the oil and gas company’s stock after selling 400 shares during the period. Court Place Advisors LLC’s holdings in Schlumberger were worth $291,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Register Financial Advisors LLC acquired a new position in shares of Schlumberger during the first quarter valued at approximately $27,000. Manchester Capital Management LLC raised its stake in Schlumberger by 297.9% in the 1st 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. Bruce G. Allen Investments LLC raised its stake in Schlumberger by 204.2% in the 2nd 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. ORG Partners LLC lifted its holdings in Schlumberger by 393.5% in the 3rd quarter. ORG Partners LLC now owns 607 shares of the oil and gas company’s stock valued at $25,000 after purchasing an additional 484 shares in the last quarter. Finally, Unique Wealth Strategies LLC acquired a new stake in Schlumberger during the 2nd quarter worth $30,000. 81.99% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. UBS Group decreased their price target on shares of Schlumberger from $63.00 to $57.00 and set a “buy” rating on the stock in a research note on Wednesday, September 18th. TD Cowen decreased their target price on shares of Schlumberger from $68.00 to $65.00 and set a “buy” rating on the stock in a research note on Monday. Piper Sandler lowered their target price on Schlumberger from $71.00 to $66.00 and set an “overweight” rating on the stock in a report on Monday, July 15th. Wells Fargo & Company cut their price target on Schlumberger from $53.00 to $49.00 and set an “equal weight” rating for the company in a report on Wednesday, September 25th. Finally, Citigroup lowered their price objective on Schlumberger from $60.00 to $54.00 and set a “buy” rating on the stock in a research note on Tuesday. Two investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to MarketBeat, Schlumberger currently has a consensus rating of “Moderate Buy” and an average target price of $60.97.

Schlumberger Trading Up 1.5 %

SLB stock traded up $0.60 during mid-day trading on Friday, hitting $41.85. 1,620,699 shares of the company were exchanged, compared to its average volume of 11,073,821. The business has a fifty day simple moving average of $43.00 and a 200-day simple moving average of $45.75. The firm has a market capitalization of $59.82 billion, a P/E ratio of 13.70, a PEG ratio of 1.48 and a beta of 1.51. Schlumberger Limited has a 12-month low of $38.66 and a 12-month high of $57.75. The company has a quick ratio of 1.12, a current ratio of 1.48 and a debt-to-equity ratio of 0.52.

Schlumberger (NYSE:SLB) last announced its 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 company had revenue of $9.16 billion for the quarter, compared to analyst estimates of $9.27 billion. During the same quarter in the previous year, the company earned $0.78 earnings per share. The firm’s quarterly revenue was up 10.2% compared to the same quarter last year. On average, equities research analysts predict that Schlumberger Limited will post 3.41 earnings per share for the current fiscal year.

Schlumberger Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 9th. Investors of record on Wednesday, December 4th will be issued a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a yield of 2.63%. The ex-dividend date is Wednesday, December 4th. Schlumberger’s dividend payout ratio (DPR) is 36.54%.

Insiders Place Their Bets

In related news, EVP Abdellah Merad sold 60,000 shares of Schlumberger stock in a transaction that occurred on Thursday, October 24th. The shares were sold at an average price of $41.90, for a total value of $2,514,000.00. Following the completion of the transaction, the executive vice president now owns 211,937 shares in the company, valued at approximately $8,880,160.30. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.26% of the company’s stock.

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.