Sequoia Financial Advisors LLC Purchases 9,381 Shares of Schlumberger Limited (NYSE:SLB)

Sequoia Financial Advisors LLC boosted its stake in shares of Schlumberger Limited (NYSE:SLB) by 2.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 474,837 shares of the oil and gas company’s stock after purchasing an additional 9,381 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in Schlumberger were worth $19,919,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently added to or reduced their stakes in SLB. &PARTNERS bought a new stake in Schlumberger during the first quarter valued at about $265,000. Strategic Planning Group LLC raised its stake in Schlumberger by 20.1% in the first quarter. Strategic Planning Group LLC now owns 11,481 shares of the oil and gas company’s stock valued at $629,000 after buying an additional 1,921 shares during the last quarter. Community Bank of Raymore purchased a new stake in Schlumberger in the first quarter valued at about $243,000. First Financial Corp IN raised its stake in Schlumberger by 14.2% in the first quarter. First Financial Corp IN now owns 3,105 shares of the oil and gas company’s stock valued at $170,000 after buying an additional 387 shares during the last quarter. Finally, Kingswood Wealth Advisors LLC raised its stake in Schlumberger by 5.6% in the first quarter. Kingswood Wealth Advisors LLC now owns 13,944 shares of the oil and gas company’s stock valued at $764,000 after buying an additional 745 shares during the last quarter. Institutional investors own 81.99% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on SLB shares. Citigroup decreased their price target on Schlumberger from $65.00 to $62.00 and set a “buy” rating for the company in a research note on Friday, June 28th. UBS Group reduced their price objective on Schlumberger from $63.00 to $57.00 and set a “buy” rating for the company in a research note on Wednesday, September 18th. Wells Fargo & Company dropped their target price on Schlumberger from $53.00 to $49.00 and set an “equal weight” rating on the stock in a report on Wednesday, September 25th. Morgan Stanley dropped their target price on Schlumberger from $65.00 to $60.00 and set an “overweight” rating on the stock in a report on Monday, September 16th. Finally, Bank of America dropped their target price on Schlumberger from $58.00 to $54.00 and set a “buy” rating on the stock in a report on Monday, October 14th. Two analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $62.03.

Schlumberger Price Performance

Shares of NYSE:SLB traded down $0.44 during trading on Tuesday, reaching $41.99. The stock had a trading volume of 3,761,762 shares, compared to its average volume of 11,068,771. 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 business has a fifty day moving average price of $43.07 and a 200-day moving average price of $45.87. The stock has a market cap of $59.62 billion, a PE ratio of 13.64, a PEG ratio of 1.27 and a beta of 1.51. Schlumberger Limited has a 1-year low of $38.66 and a 1-year high of $59.05.

Schlumberger (NYSE:SLB) last announced 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 the consensus estimate 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% compared to the same quarter last year. On average, equities analysts forecast that Schlumberger Limited will post 3.44 earnings per share for the current fiscal year.

Schlumberger Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 9th. Investors of record on Wednesday, December 4th will be given a dividend of $0.275 per share. The ex-dividend date of this dividend is Wednesday, December 4th. This represents a $1.10 dividend on an annualized basis and a yield of 2.62%. 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.