Schlumberger Limited (NYSE:SLB) Stock Holdings Cut by Lord Abbett & CO. LLC

Lord Abbett & CO. LLC trimmed its holdings in shares of Schlumberger Limited (NYSE:SLB) by 15.5% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 822,998 shares of the oil and gas company’s stock after selling 151,427 shares during the period. Lord Abbett & CO. LLC’s holdings in Schlumberger were worth $34,525,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Copley Financial Group Inc. acquired a new position in Schlumberger in the 3rd quarter worth approximately $515,000. Peapack Gladstone Financial Corp lifted its holdings in shares of Schlumberger by 15.0% in the third quarter. Peapack Gladstone Financial Corp now owns 268,008 shares of the oil and gas company’s stock valued at $11,244,000 after purchasing an additional 34,861 shares in the last quarter. Synovus Financial Corp boosted its position in shares of Schlumberger by 30.2% in the third quarter. Synovus Financial Corp now owns 109,717 shares of the oil and gas company’s stock worth $4,603,000 after buying an additional 25,465 shares during the period. PVG Asset Management Corp acquired a new stake in shares of Schlumberger in the third quarter worth $386,000. Finally, Wilmington Savings Fund Society FSB grew its holdings in shares of Schlumberger by 27.0% during the third quarter. Wilmington Savings Fund Society FSB now owns 76,838 shares of the oil and gas company’s stock valued at $3,223,000 after buying an additional 16,350 shares in the last quarter. 81.99% of the stock is owned by institutional investors and hedge funds.

Schlumberger Trading Down 2.1 %

Shares of Schlumberger stock opened at $40.22 on Friday. The company’s fifty day moving average price is $42.73 and its two-hundred day moving average price is $43.99. The firm has a market capitalization of $56.80 billion, a PE ratio of 12.93, a price-to-earnings-growth ratio of 1.47 and a beta of 1.51. Schlumberger Limited has a 52-week low of $38.66 and a 52-week high of $55.69. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.48 and a quick ratio of 1.12.

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 the consensus estimate of $0.88 by $0.01. The firm had revenue of $9.16 billion during the quarter, compared to analyst estimates of $9.27 billion. Schlumberger had a net margin of 12.44% and a return on equity of 21.84%. The company’s quarterly revenue was up 10.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.78 earnings per share. On average, analysts expect that Schlumberger Limited will post 3.39 EPS for the current year.

Schlumberger Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 9th. Shareholders of record on Wednesday, December 4th will be given a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a yield of 2.73%. The ex-dividend date is Wednesday, December 4th. Schlumberger’s dividend payout ratio (DPR) is 35.37%.

Insiders Place Their Bets

In other 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 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.

Analyst Upgrades and Downgrades

SLB has been the subject of a number of research reports. Atb Cap Markets cut Schlumberger from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 10th. Evercore ISI lowered their price objective on shares of Schlumberger from $74.00 to $62.00 and set an “outperform” rating on the stock in a research report on Monday, October 21st. Sanford C. Bernstein raised shares of Schlumberger to a “strong-buy” rating in a research note on Tuesday, November 12th. Susquehanna cut their price objective on Schlumberger from $60.00 to $56.00 and set a “positive” rating for the company in a report on Monday, October 21st. Finally, Bank of America cut their price target on Schlumberger from $58.00 to $54.00 and set a “buy” rating for the company in a research note on Monday, October 14th. Three equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $60.91.

Schlumberger Company 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.