LJI Wealth Management LLC Sells 296 Shares of Schlumberger Limited (NYSE:SLB)

LJI Wealth Management LLC lessened its holdings in Schlumberger Limited (NYSE:SLB) by 2.5% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 11,564 shares of the oil and gas company’s stock after selling 296 shares during the quarter. LJI Wealth Management LLC’s holdings in Schlumberger were worth $485,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of SLB. Vanguard Group Inc. increased its stake in Schlumberger by 1.4% in the 1st quarter. Vanguard Group Inc. now owns 134,150,168 shares of the oil and gas company’s stock worth $7,352,771,000 after buying an additional 1,868,688 shares during the period. Capital World Investors raised its stake in shares of Schlumberger by 72.3% during the first quarter. Capital World Investors now owns 88,950,956 shares of the oil and gas company’s stock valued at $4,875,402,000 after acquiring an additional 37,333,485 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in shares of Schlumberger by 14.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 85,986,039 shares of the oil and gas company’s stock valued at $4,712,897,000 after purchasing an additional 10,606,191 shares during the period. Legal & General Group Plc grew its stake in Schlumberger by 14.0% in the second quarter. Legal & General Group Plc now owns 12,686,384 shares of the oil and gas company’s stock worth $598,544,000 after purchasing an additional 1,560,684 shares in the last quarter. Finally, Boston Partners increased its holdings in Schlumberger by 35.8% during the 1st quarter. Boston Partners now owns 11,640,827 shares of the oil and gas company’s stock worth $635,883,000 after purchasing an additional 3,069,395 shares during the period. Hedge funds and other institutional investors own 81.99% of the company’s stock.

Wall Street Analysts Forecast Growth

SLB has been the topic of a number of recent research reports. Royal Bank of Canada reissued an “outperform” rating and set a $69.00 price target on shares of Schlumberger in a research report on Thursday, October 3rd. Dbs Bank assumed coverage on shares of Schlumberger in a report on Wednesday, September 18th. They set a “buy” rating and a $64.50 target price on the stock. Bank of America reduced their price target on shares of Schlumberger from $58.00 to $54.00 and set a “buy” rating for the company in a report on Monday, October 14th. Stifel Nicolaus reiterated a “buy” rating and set a $60.00 price objective (down from $62.00) on shares of Schlumberger in a research note on Monday, October 21st. Finally, Sanford C. Bernstein raised shares of Schlumberger to a “strong-buy” rating in a research note on Tuesday. Two investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Schlumberger presently has a consensus rating of “Moderate Buy” and an average target price of $60.97.

Insider Buying and Selling

In related news, EVP Abdellah Merad sold 60,000 shares of the firm’s stock in a transaction on Thursday, October 24th. The shares were sold at an average price of $41.90, for a total transaction of $2,514,000.00. Following the completion of the transaction, the executive vice president now owns 211,937 shares of the company’s stock, valued at $8,880,160.30. This trade represents a 22.06 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 0.26% of the company’s stock.

Schlumberger Stock Down 0.6 %

Shares of SLB traded down $0.27 during mid-day trading on Friday, hitting $43.18. 9,632,621 shares of the company traded hands, compared to its average volume of 11,276,779. The business has a 50 day moving average of $42.40 and a 200 day moving average of $44.71. The company has a market capitalization of $60.98 billion, a PE ratio of 13.88, a price-to-earnings-growth ratio of 1.54 and a beta of 1.52. 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 Limited has a 1-year low of $38.66 and a 1-year high of $55.69.

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, topping analysts’ consensus estimates of $0.88 by $0.01. Schlumberger had a net margin of 12.44% and a return on equity of 21.84%. The business had revenue of $9.16 billion during the quarter, compared to analysts’ expectations of $9.27 billion. During the same quarter last year, the company posted $0.78 earnings per share. The business’s quarterly revenue was up 10.2% on a year-over-year basis. Equities research analysts anticipate that Schlumberger Limited will post 3.4 EPS for the current year.

Schlumberger Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 9th. Stockholders of record on Wednesday, December 4th will be paid a $0.275 dividend. This represents a $1.10 annualized dividend and a dividend yield of 2.55%. The ex-dividend date is Wednesday, December 4th. Schlumberger’s payout ratio is 35.37%.

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.