Motley Fool Wealth Management LLC Trims Position in Schlumberger Limited (NYSE:SLB)

Motley Fool Wealth Management LLC trimmed its position in Schlumberger Limited (NYSE:SLB) by 9.5% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 88,399 shares of the oil and gas company’s stock after selling 9,294 shares during the quarter. Motley Fool Wealth Management LLC’s holdings in Schlumberger were worth $3,708,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Financial Advocates Investment Management raised its holdings in shares of Schlumberger by 3.4% during the 2nd quarter. Financial Advocates Investment Management now owns 6,558 shares of the oil and gas company’s stock worth $309,000 after acquiring an additional 218 shares in the last quarter. Chilton Capital Management LLC increased its stake in Schlumberger by 0.8% in the second quarter. Chilton Capital Management LLC now owns 26,202 shares of the oil and gas company’s stock worth $1,236,000 after purchasing an additional 219 shares during the period. Grove Bank & Trust grew its position in shares of Schlumberger by 17.4% during the 3rd quarter. Grove Bank & Trust now owns 1,514 shares of the oil and gas company’s stock worth $64,000 after buying an additional 224 shares in the last quarter. First PREMIER Bank grew its position in shares of Schlumberger by 8.7% during the 2nd quarter. First PREMIER Bank now owns 2,842 shares of the oil and gas company’s stock worth $134,000 after buying an additional 227 shares in the last quarter. Finally, Addison Advisors LLC grew its position in shares of Schlumberger by 6.5% during the 2nd quarter. Addison Advisors LLC now owns 3,794 shares of the oil and gas company’s stock worth $179,000 after buying an additional 233 shares in the last quarter. 81.99% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on SLB. TD Cowen dropped their price objective on Schlumberger from $68.00 to $65.00 and set a “buy” rating on the stock in a research report on Monday, October 21st. Royal Bank of Canada reaffirmed an “outperform” rating and set a $69.00 target price on shares of Schlumberger in a research note on Thursday, October 3rd. Susquehanna reduced their target price on Schlumberger from $60.00 to $56.00 and set a “positive” rating for the company in a research note on Monday, October 21st. Sanford C. Bernstein upgraded Schlumberger to a “strong-buy” rating in a research report on Tuesday, November 12th. Finally, Barclays dropped their target price on Schlumberger from $67.00 to $63.00 and set an “overweight” rating for the company in a report on Wednesday, October 16th. Two analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Schlumberger presently has an average rating of “Moderate Buy” and a consensus price target of $60.97.

Insider Buying and Selling

In related news, EVP Abdellah Merad sold 60,000 shares of Schlumberger stock in a transaction dated Thursday, October 24th. The stock was sold at an average price of $41.90, for a total transaction 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 approximately $8,880,160.30. This trade represents a 22.06 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.26% of the stock is currently owned by insiders.

Schlumberger Stock Up 0.1 %

SLB opened at $43.66 on Wednesday. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.48 and a quick ratio of 1.12. The business has a 50 day simple moving average of $43.01 and a 200-day simple moving average of $44.29. The stock has a market capitalization of $61.65 billion, a P/E ratio of 14.04, a P/E/G ratio of 1.54 and a beta of 1.51. Schlumberger Limited has a 12 month low of $38.66 and a 12 month high of $55.69.

Schlumberger (NYSE:SLB) last issued its quarterly earnings data 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 analysts’ expectations of $9.27 billion. Schlumberger had a return on equity of 21.84% and a net margin of 12.44%. Schlumberger’s revenue was up 10.2% on a year-over-year basis. During the same period in the previous year, the firm posted $0.78 earnings per share. On average, equities analysts anticipate that Schlumberger Limited will post 3.39 earnings per share for the current fiscal year.

Schlumberger Announces Dividend

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. The ex-dividend date of this dividend is Wednesday, December 4th. This represents a $1.10 annualized dividend and a yield of 2.52%. Schlumberger’s dividend payout ratio is presently 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.