Sigma Planning Corp cut its stake in Schlumberger Limited. (NYSE:SLB) by 15.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 18,149 shares of the oil and gas company’s stock after selling 3,239 shares during the period. Sigma Planning Corp’s holdings in Schlumberger were worth $620,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently modified their holdings of the business. Quad Cities Investment Group LLC bought a new position in Schlumberger during the second quarter valued at about $32,000. Mizuho Securities Co. Ltd. bought a new position in Schlumberger in the 2nd quarter valued at $32,000. Doyle Wealth Management bought a new position in Schlumberger in the 2nd quarter valued at $33,000. Shamrock Asset Management LLC raised its position in Schlumberger by 49.6% in the 2nd quarter. Shamrock Asset Management LLC now owns 1,061 shares of the oil and gas company’s stock valued at $42,000 after purchasing an additional 352 shares during the last quarter. Finally, Acima Private Wealth LLC raised its position in Schlumberger by 34.1% in the 3rd quarter. Acima Private Wealth LLC now owns 1,239 shares of the oil and gas company’s stock valued at $42,000 after purchasing an additional 315 shares during the last quarter. 76.52% of the stock is currently owned by hedge funds and other institutional investors.
In other news, VP Simon Farrant sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, October 21st. The stock was sold at an average price of $33.55, for a total value of $167,750.00. Following the transaction, the vice president now owns 20,316 shares of the company’s stock, valued at $681,601.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.48% of the stock is currently owned by corporate insiders.
Schlumberger (NYSE:SLB) last released its quarterly earnings data on Friday, October 18th. The oil and gas company reported $0.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.40 by $0.03. The firm had revenue of $8.54 billion for the quarter, compared to analyst estimates of $8.50 billion. Schlumberger had a positive return on equity of 6.00% and a negative net margin of 30.22%. The business’s revenue for the quarter was up .4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.46 earnings per share. Equities analysts expect that Schlumberger Limited. will post 1.47 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, January 10th. Stockholders of record on Wednesday, December 4th will be given a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 5.50%. The ex-dividend date is Tuesday, December 3rd. Schlumberger’s payout ratio is 123.46%.
A number of equities research analysts have recently weighed in on SLB shares. Royal Bank of Canada set a $40.00 target price on Schlumberger and gave the stock a “buy” rating in a research report on Monday, October 21st. Cowen decreased their target price on Schlumberger from $47.00 to $45.00 and set an “outperform” rating for the company in a research note on Monday, October 21st. Morgan Stanley set a $50.00 target price on Schlumberger and gave the company a “buy” rating in a research note on Monday, October 21st. Wells Fargo & Co reduced their price objective on Schlumberger from $44.00 to $40.00 and set an “outperform” rating for the company in a research report on Monday, October 21st. Finally, ValuEngine raised Schlumberger from a “sell” rating to a “hold” rating in a research report on Wednesday, October 2nd. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and fourteen have given a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $44.82.
Schlumberger Limited supplies technology for reservoir characterization, drilling, production, and processing to the oil and gas industry worldwide. The company's Reservoir Characterization segment offers reservoir interpretation and data processing services; open and cased-hole, and slickline services; exploration and production pressure and flow-rate measurement services; tubing-conveyed perforating services; integrated production systems; software, consulting, information management, and IT infrastructure services; reservoir characterization, field development planning, and production enhancement consulting services; petro technical data services and training solutions; and integrated management services.
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