Schlumberger Limited (NYSE:SLB) Shares Sold by Cromwell Holdings LLC

Cromwell Holdings LLC lessened its holdings in Schlumberger Limited (NYSE:SLB) by 6.9% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 4,067 shares of the oil and gas company’s stock after selling 300 shares during the period. Cromwell Holdings LLC’s holdings in Schlumberger were worth $172,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of SLB. Bank of Stockton acquired a new position in Schlumberger in the third quarter valued at about $554,000. Mediolanum International Funds Ltd lifted its holdings in shares of Schlumberger by 3.7% in the 3rd quarter. Mediolanum International Funds Ltd now owns 181,559 shares of the oil and gas company’s stock worth $7,665,000 after acquiring an additional 6,495 shares during the last quarter. Busey Bank increased its holdings in Schlumberger by 1.1% in the 3rd quarter. Busey Bank now owns 198,270 shares of the oil and gas company’s stock valued at $8,317,000 after purchasing an additional 2,240 shares during the last quarter. Mraz Amerine & Associates Inc. raised its position in Schlumberger by 14.7% in the third quarter. Mraz Amerine & Associates Inc. now owns 84,194 shares of the oil and gas company’s stock valued at $3,532,000 after purchasing an additional 10,785 shares during the period. Finally, Schwartz Investment Counsel Inc. lifted its stake in Schlumberger by 1.5% during the third quarter. Schwartz Investment Counsel Inc. now owns 328,800 shares of the oil and gas company’s stock worth $13,793,000 after purchasing an additional 5,000 shares in the last quarter. 81.99% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Schlumberger

In related news, EVP Abdellah Merad sold 60,000 shares of the firm’s stock in a transaction dated 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 sale, the executive vice president now owns 211,937 shares in the company, valued at $8,880,160.30. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.26% of the company’s stock.

Schlumberger Trading Up 1.2 %

SLB opened at $41.74 on Friday. The firm has a market cap of $59.66 billion, a price-to-earnings ratio of 13.87, a price-to-earnings-growth ratio of 1.48 and a beta of 1.51. Schlumberger Limited has a 52 week low of $38.66 and a 52 week high of $57.75. The business’s 50 day moving average is $42.92 and its two-hundred day moving average is $45.72. The company has a quick ratio of 1.12, a current ratio of 1.48 and a debt-to-equity ratio of 0.52.

Schlumberger (NYSE:SLB) last issued its quarterly earnings results on Friday, October 18th. The oil and gas company reported $0.89 earnings per share for the quarter, topping analysts’ consensus estimates of $0.88 by $0.01. Schlumberger had a net margin of 12.44% and a return on equity of 21.84%. The firm had revenue of $9.16 billion during the quarter, compared to analysts’ expectations of $9.27 billion. During the same quarter in the prior year, the business earned $0.78 EPS. Schlumberger’s quarterly revenue was up 10.2% compared to the same quarter last year. On average, research analysts predict that Schlumberger Limited will post 3.41 EPS for the current year.

Schlumberger Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 9th. Shareholders 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 2.64%. Schlumberger’s payout ratio is currently 36.54%.

Wall Street Analyst Weigh In

Several research firms recently issued reports on SLB. Morgan Stanley cut their price objective on Schlumberger from $65.00 to $60.00 and set an “overweight” rating on the stock in a report on Monday, September 16th. Bank of America reduced their price target on shares of Schlumberger from $58.00 to $54.00 and set a “buy” rating on the stock in a research report on Monday, October 14th. Royal Bank of Canada restated an “outperform” rating and issued a $69.00 price objective on shares of Schlumberger in a report on Thursday, October 3rd. Evercore ISI decreased their price target on shares of Schlumberger from $74.00 to $62.00 and set an “outperform” rating for the company in a research report on Monday, October 21st. Finally, Wells Fargo & Company cut their price objective on Schlumberger from $53.00 to $49.00 and set an “equal weight” rating on the stock in a research report on Wednesday, September 25th. Two research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $60.97.

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.