Edge Wealth Management LLC Sells 14,051 Shares of Schlumberger Limited (NYSE:SLB)

Edge Wealth Management LLC lowered its stake in Schlumberger Limited (NYSE:SLB) by 5.3% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 251,631 shares of the oil and gas company’s stock after selling 14,051 shares during the period. Schlumberger accounts for about 2.0% of Edge Wealth Management LLC’s holdings, making the stock its 21st largest holding. Edge Wealth Management LLC’s holdings in Schlumberger were worth $9,648,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. State Street Corp boosted its holdings in Schlumberger by 0.6% in the third quarter. State Street Corp now owns 90,209,014 shares of the oil and gas company’s stock worth $3,808,476,000 after acquiring an additional 528,279 shares in the last quarter. Geode Capital Management LLC boosted its stake in Schlumberger by 0.8% in the 3rd quarter. Geode Capital Management LLC now owns 28,608,226 shares of the oil and gas company’s stock worth $1,195,290,000 after purchasing an additional 239,966 shares in the last quarter. Legal & General Group Plc grew its position in Schlumberger by 14.0% during the 2nd quarter. Legal & General Group Plc now owns 12,686,384 shares of the oil and gas company’s stock valued at $598,544,000 after purchasing an additional 1,560,684 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Schlumberger by 20.6% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 11,213,944 shares of the oil and gas company’s stock valued at $470,425,000 after purchasing an additional 1,916,851 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in Schlumberger by 0.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 7,990,797 shares of the oil and gas company’s stock worth $335,214,000 after buying an additional 31,718 shares during the last quarter. Institutional investors own 81.99% of the company’s stock.

Insider Buying and Selling at Schlumberger

In other Schlumberger news, EVP Abdellah Merad sold 60,000 shares of the business’s stock in a transaction 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 sale, the executive vice president now owns 211,937 shares in the company, valued at $8,880,160.30. The trade was a 22.06 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.26% of the company’s stock.

Schlumberger Trading Up 1.3 %

Shares of SLB stock opened at $41.16 on Friday. 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 stock has a fifty day simple moving average of $40.89 and a two-hundred day simple moving average of $42.93. The firm has a market capitalization of $58.13 billion, a PE ratio of 13.24, a PEG ratio of 1.35 and a beta of 1.52. Schlumberger Limited has a 52-week low of $36.52 and a 52-week high of $55.69.

Schlumberger (NYSE:SLB) last released its 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. Schlumberger had a return on equity of 21.84% and a net margin of 12.44%. The firm had revenue of $9.16 billion during the quarter, compared to analysts’ expectations of $9.27 billion. During the same quarter last year, the business posted $0.78 earnings per share. The firm’s revenue was up 10.2% on a year-over-year basis. On average, analysts predict that Schlumberger Limited will post 3.39 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. Barclays reduced their price target on shares of Schlumberger from $61.00 to $53.00 and set an “overweight” rating for the company in a research report on Wednesday, December 18th. Jefferies Financial Group decreased their price target on Schlumberger from $64.00 to $61.00 and set a “buy” rating for the company in a research note on Friday, January 3rd. Citigroup dropped their price objective on Schlumberger from $53.00 to $50.00 and set a “buy” rating on the stock in a research report on Thursday, December 19th. Sanford C. Bernstein raised Schlumberger to a “strong-buy” rating in a research report on Tuesday, November 12th. Finally, TD Cowen dropped their price target on shares of Schlumberger from $65.00 to $53.00 and set a “buy” rating on the stock in a report on Wednesday, January 8th. Six equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $56.03.

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.