Evercore Wealth Management LLC trimmed its position in shares of Schlumberger Limited (NYSE:SLB) by 9.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 19,130 shares of the oil and gas company’s stock after selling 1,887 shares during the period. Evercore Wealth Management LLC’s holdings in Schlumberger were worth $520,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently modified their holdings of SLB. Concord Wealth Partners bought a new stake in Schlumberger in the 4th quarter valued at $26,000. Spirit of America Management Corp NY bought a new stake in Schlumberger in the 1st quarter valued at $27,000. Harvest Fund Management Co. Ltd bought a new stake in Schlumberger in the 1st quarter valued at $28,000. Hoertkorn Richard Charles increased its holdings in Schlumberger by 90.9% in the 1st quarter. Hoertkorn Richard Charles now owns 1,050 shares of the oil and gas company’s stock valued at $29,000 after buying an additional 500 shares during the period. Finally, Alpha DNA Investment Management LLC bought a new stake in Schlumberger in the 4th quarter valued at $30,000. Hedge funds and other institutional investors own 75.01% of the company’s stock.
Shares of SLB opened at $28.43 on Thursday. The firm’s fifty day moving average price is $32.29. The firm has a market capitalization of $39.75 billion, a price-to-earnings ratio of 42.56 and a beta of 2.40. Schlumberger Limited has a 12-month low of $13.70 and a 12-month high of $36.87. The company has a quick ratio of 0.96, a current ratio of 1.30 and a debt-to-equity ratio of 1.22.
In other Schlumberger news, EVP Hinda Gharbi sold 30,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 6th. The shares were sold at an average price of $30.10, for a total value of $903,000.00. Following the transaction, the executive vice president now directly owns 129,262 shares of the company’s stock, valued at $3,890,786.20. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.26% of the stock is currently owned by company insiders.
Several equities research analysts have recently weighed in on the company. TheStreet upgraded Schlumberger from a “d+” rating to a “c-” rating in a research note on Thursday, June 10th. The Goldman Sachs Group initiated coverage on Schlumberger in a research note on Thursday, May 13th. They issued a “buy” rating and a $38.00 price objective on the stock. upped their target price on shares of Schlumberger from $34.00 to $35.00 and gave the stock a “buy” rating in a report on Monday, April 26th. Morgan Stanley upped their target price on shares of Schlumberger from $32.00 to $40.00 and gave the stock an “overweight” rating in a report on Friday, July 9th. Finally, Citigroup upped their target price on shares of Schlumberger from $34.00 to $35.00 in a report on Monday, April 26th. One analyst has rated the stock with a sell rating, six have given a hold rating and fourteen have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $28.61.
Schlumberger Limited supplies technology for reservoir characterization, drilling, production, and processing to the oil and gas industry worldwide. It operates in four divisions: Digital & Integration, Reservoir Performance, Well Construction, and Production Systems. The company 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; and petro technical data services and training solutions.
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