Mitchell Mcleod Pugh & Williams Inc. Sells 622 Shares of Schlumberger Limited (NYSE:SLB)

Mitchell Mcleod Pugh & Williams Inc. cut its stake in Schlumberger Limited (NYSE:SLB) by 4.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 14,482 shares of the oil and gas company’s stock after selling 622 shares during the quarter. Mitchell Mcleod Pugh & Williams Inc.’s holdings in Schlumberger were worth $608,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Bruce G. Allen Investments LLC lifted its position 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 worth $28,000 after buying an additional 392 shares during the last quarter. ORG Partners LLC increased its stake in Schlumberger by 393.5% in the third quarter. ORG Partners LLC now owns 607 shares of the oil and gas company’s stock worth $25,000 after purchasing an additional 484 shares during the period. Unique Wealth Strategies LLC purchased a new stake in Schlumberger in the second quarter worth $30,000. Riverview Trust Co increased its stake in Schlumberger by 90.6% in the second quarter. Riverview Trust Co now owns 648 shares of the oil and gas company’s stock worth $31,000 after purchasing an additional 308 shares during the period. Finally, First Community Trust NA increased its stake in Schlumberger by 264.0% in the second quarter. First Community Trust NA now owns 728 shares of the oil and gas company’s stock worth $34,000 after purchasing an additional 528 shares during the period. 81.99% of the stock is currently owned by institutional investors.

Schlumberger Stock Down 0.1 %

NYSE SLB traded down $0.06 during trading on Friday, hitting $43.18. The company’s stock had a trading volume of 13,598,067 shares, compared to its average volume of 13,230,377. 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 company has a market cap of $60.98 billion, a PE ratio of 13.88, a P/E/G ratio of 1.52 and a beta of 1.52. The business’s 50 day simple moving average is $42.21 and its 200-day simple moving average is $44.90. Schlumberger Limited has a fifty-two week low of $38.66 and a fifty-two week high of $55.69.

Schlumberger (NYSE:SLB) last issued its quarterly earnings results on Friday, October 18th. The oil and gas company reported $0.89 earnings per share for the quarter, topping the consensus estimate of $0.88 by $0.01. The business had revenue of $9.16 billion during 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 quarterly revenue was up 10.2% on a year-over-year basis. During the same quarter last year, the company earned $0.78 earnings per share. On average, equities analysts anticipate that Schlumberger Limited will post 3.4 EPS 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 dividend yield of 2.55%. The ex-dividend date of this dividend is Wednesday, December 4th. Schlumberger’s dividend payout ratio (DPR) is 35.37%.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on SLB. Stifel Nicolaus reiterated a “buy” rating and issued a $60.00 target price (down previously from $62.00) on shares of Schlumberger in a research note on Monday, October 21st. Dbs Bank began coverage on Schlumberger in a research note on Wednesday, September 18th. They issued a “buy” rating and a $64.50 target price on the stock. Morgan Stanley cut 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. Benchmark restated a “buy” rating and set a $68.00 price target on shares of Schlumberger in a research note on Monday, July 22nd. Finally, Piper Sandler cut their price target on Schlumberger from $71.00 to $66.00 and set an “overweight” rating on the stock in a research note on Monday, July 15th. Two analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $60.97.

Insider Buying and Selling

In related news, EVP Abdellah Merad sold 60,000 shares of Schlumberger stock in a transaction dated 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 completion of the sale, the executive vice president now owns 211,937 shares of the company’s stock, valued at $8,880,160.30. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.26% of the company’s stock.

Schlumberger 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.