Schlumberger Limited (NYSE:SLB) Shares Sold by Stonebridge Financial Planning Group LLC

Stonebridge Financial Planning Group LLC trimmed its holdings in Schlumberger Limited (NYSE:SLB) by 16.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 4,990 shares of the oil and gas company’s stock after selling 1,000 shares during the quarter. Stonebridge Financial Planning Group LLC’s holdings in Schlumberger were worth $209,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Capital World Investors grew its holdings in 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 worth $4,875,402,000 after acquiring an additional 37,333,485 shares during the period. Price T Rowe Associates Inc. MD grew its stake in shares of Schlumberger by 14.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 85,986,039 shares of the oil and gas company’s stock worth $4,712,897,000 after purchasing an additional 10,606,191 shares during the period. Boston Partners grew its stake in shares of 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. Ceredex Value Advisors LLC purchased a new position in shares of Schlumberger during the 2nd quarter valued at approximately $92,944,000. Finally, 1832 Asset Management L.P. acquired a new position in shares of Schlumberger in the 2nd quarter valued at $91,364,000. 81.99% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related 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 in the company, valued at approximately $8,880,160.30. This represents a 22.06 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.26% of the company’s stock.

Schlumberger Price Performance

Shares of SLB stock traded up $0.36 during trading hours on Wednesday, reaching $43.46. The company had a trading volume of 269,344 shares, compared to its average volume of 11,194,885. Schlumberger Limited has a 12-month low of $38.66 and a 12-month high of $55.69. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.12 and a current ratio of 1.48. The company has a market capitalization of $61.37 billion, a price-to-earnings ratio of 13.86, a PEG ratio of 1.52 and a beta of 1.52. The stock has a fifty day moving average of $42.53 and a 200-day moving average of $44.61.

Schlumberger (NYSE:SLB) last issued its 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. 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 revenue for the quarter was up 10.2% on a year-over-year basis. During the same period last year, the company earned $0.78 EPS. On average, equities analysts anticipate that Schlumberger Limited will post 3.4 earnings per share for the current year.

Schlumberger Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 9th. Shareholders of record on Wednesday, December 4th will be issued a $0.275 dividend. The ex-dividend date is Wednesday, December 4th. This represents a $1.10 annualized dividend and a yield of 2.53%. Schlumberger’s payout ratio is 35.37%.

Analyst Upgrades and Downgrades

Several research firms recently commented on SLB. Dbs Bank assumed coverage on shares of Schlumberger in a research report on Wednesday, September 18th. They set a “buy” rating and a $64.50 price target on the stock. JPMorgan Chase & Co. cut their price target on Schlumberger from $64.00 to $60.00 and set an “overweight” rating for the company in a research note on Tuesday, October 1st. Morgan Stanley reduced their price target on Schlumberger from $65.00 to $60.00 and set an “overweight” rating for the company in a report on Monday, September 16th. UBS Group dropped their price objective on Schlumberger from $63.00 to $57.00 and set a “buy” rating on the stock in a report on Wednesday, September 18th. Finally, Susquehanna reduced their target price on Schlumberger from $60.00 to $56.00 and set a “positive” rating for the company in a research note on Monday, October 21st. Two investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Schlumberger presently has an average rating of “Moderate Buy” and an average target price of $60.97.

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.