Schlumberger Limited (NYSE:SLB) Shares Sold by Waldron Private Wealth LLC

Waldron Private Wealth LLC cut its stake in shares of Schlumberger Limited (NYSE:SLB) by 2.0% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 38,722 shares of the oil and gas company’s stock after selling 783 shares during the period. Waldron Private Wealth LLC’s holdings in Schlumberger were worth $1,624,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the stock. ORG Partners LLC raised its position in shares of Schlumberger by 393.5% in the third quarter. ORG Partners LLC now owns 607 shares of the oil and gas company’s stock valued at $25,000 after buying an additional 484 shares during the last quarter. Register Financial Advisors LLC purchased a new stake in shares of Schlumberger in the first quarter valued at about $27,000. Bruce G. Allen Investments LLC grew its holdings in shares of 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 valued at $28,000 after purchasing an additional 392 shares during the period. Unique Wealth Strategies LLC purchased a new position in Schlumberger during the second quarter worth about $30,000. Finally, Manchester Capital Management LLC boosted its stake in Schlumberger by 297.9% during the first quarter. Manchester Capital Management LLC now owns 569 shares of the oil and gas company’s stock worth $31,000 after buying an additional 426 shares during the period. 81.99% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on SLB. Piper Sandler reduced their target price on shares of Schlumberger from $71.00 to $66.00 and set an “overweight” rating on the stock in a report on Monday, July 15th. Morgan Stanley decreased their target price on shares of Schlumberger from $65.00 to $60.00 and set an “overweight” rating on the stock in a research report on Monday, September 16th. Evercore ISI cut their target price on shares of Schlumberger from $74.00 to $62.00 and set an “outperform” rating for the company in a research note on Monday. Citigroup dropped their target price on shares of Schlumberger from $60.00 to $54.00 and set a “buy” rating for the company in a research report on Tuesday. Finally, Stifel Nicolaus reiterated a “buy” rating and set a $60.00 target price (down from $62.00) on shares of Schlumberger in a research note on Monday. Two analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $61.58.

Schlumberger Stock Performance

Shares of NYSE SLB traded down $0.56 during trading hours on Tuesday, reaching $41.87. 6,664,765 shares of the stock were exchanged, compared to its average volume of 11,083,001. The stock’s fifty day simple moving average is $43.07 and its 200 day simple moving average is $45.87. Schlumberger Limited has a 52 week low of $38.66 and a 52 week high of $59.05. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.13 and a current ratio of 1.49. The firm has a market capitalization of $59.45 billion, a price-to-earnings ratio of 13.54, a P/E/G ratio of 1.27 and a beta of 1.51.

Schlumberger (NYSE:SLB) last posted its quarterly earnings data on Friday, October 18th. The oil and gas company reported $0.89 EPS for the quarter, topping analysts’ consensus estimates of $0.88 by $0.01. Schlumberger had a return on equity of 21.92% and a net margin of 12.56%. The firm had revenue of $9.16 billion for the quarter, compared to analyst estimates of $9.27 billion. During the same quarter last year, the company earned $0.78 EPS. The company’s revenue was up 10.2% on a year-over-year basis. Sell-side analysts predict that Schlumberger Limited will post 3.44 EPS for the current year.

Schlumberger Dividend Announcement

The company also recently disclosed 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 annualized dividend and a dividend yield of 2.63%. The ex-dividend date is Wednesday, December 4th. Schlumberger’s dividend payout ratio (DPR) is 35.37%.

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.