Kovack Advisors Inc. Sells 23,855 Shares of Schlumberger Limited (NYSE:SLB)

Kovack Advisors Inc. trimmed its holdings in Schlumberger Limited (NYSE:SLB) by 63.7% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,585 shares of the oil and gas company’s stock after selling 23,855 shares during the quarter. Kovack Advisors Inc.’s holdings in Schlumberger were worth $568,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of SLB. First Command Advisory Services Inc. grew its position in Schlumberger by 300.0% during the 1st quarter. First Command Advisory Services Inc. now owns 636 shares of the oil and gas company’s stock valued at $27,000 after purchasing an additional 477 shares during the last quarter. Alpine Bank Wealth Management bought a new stake in shares of Schlumberger in the first quarter worth approximately $34,000. Park Square Financial Group LLC bought a new stake in shares of Schlumberger in the first quarter worth approximately $38,000. Sound Income Strategies LLC grew its stake in shares of Schlumberger by 265.4% in the first quarter. Sound Income Strategies LLC now owns 961 shares of the oil and gas company’s stock worth $40,000 after acquiring an additional 698 shares during the period. Finally, True Wealth Design LLC grew its stake in shares of Schlumberger by 584.7% in the fourth quarter. True Wealth Design LLC now owns 986 shares of the oil and gas company’s stock worth $38,000 after acquiring an additional 842 shares during the period. 81.99% of the stock is currently owned by institutional investors.

Insider Activity

In other news, Director La Chevardiere Patrick De sold 5,000 shares of Schlumberger stock in a transaction that occurred on Thursday, May 22nd. The shares were sold at an average price of $33.58, for a total transaction of $167,900.00. Following the sale, the director owned 23,525 shares in the company, valued at $789,969.50. This trade represents a 17.53% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.26% of the stock is currently owned by insiders.

Schlumberger Trading Up 0.7%

Schlumberger stock opened at $35.48 on Friday. The stock has a market cap of $48.26 billion, a P/E ratio of 12.15, a PEG ratio of 9.70 and a beta of 1.01. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.31 and a quick ratio of 0.98. Schlumberger Limited has a 1 year low of $31.11 and a 1 year high of $49.31. The firm’s 50 day moving average price is $34.75 and its 200-day moving average price is $37.40.

Schlumberger (NYSE:SLB) last released its quarterly earnings data on Friday, July 18th. The oil and gas company reported $0.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.73 by $0.01. The firm had revenue of $8.55 billion for the quarter, compared to analysts’ expectations of $8.51 billion. Schlumberger had a net margin of 11.53% and a return on equity of 20.99%. The company’s revenue for the quarter was down 6.5% compared to the same quarter last year. During the same quarter last year, the business posted $0.85 earnings per share. On average, equities analysts predict that Schlumberger Limited will post 3.38 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, October 9th. Stockholders of record on Wednesday, September 3rd will be given a dividend of $0.285 per share. This represents a $1.14 annualized dividend and a dividend yield of 3.21%. The ex-dividend date of this dividend is Wednesday, September 3rd. Schlumberger’s payout ratio is currently 39.04%.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on SLB. Morgan Stanley dropped their price objective on shares of Schlumberger from $50.00 to $45.00 and set an “overweight” rating on the stock in a report on Friday, May 16th. Stifel Nicolaus dropped their price objective on shares of Schlumberger from $54.00 to $52.00 and set a “buy” rating on the stock in a report on Wednesday, July 16th. Barclays dropped their price objective on shares of Schlumberger from $47.00 to $46.00 and set an “overweight” rating on the stock in a report on Monday, July 21st. Susquehanna dropped their price objective on shares of Schlumberger from $44.00 to $42.00 and set a “positive” rating on the stock in a report on Monday, July 21st. Finally, Atb Cap Markets raised shares of Schlumberger from a “hold” rating to a “strong-buy” rating in a report on Tuesday, July 1st. Four research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, Schlumberger presently has a consensus rating of “Moderate Buy” and a consensus price target of $49.28.

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.