Schlumberger Limited (NYSE:SLB) Shares Sold by Nicholas Hoffman & Company LLC.

Nicholas Hoffman & Company LLC. decreased its position in Schlumberger Limited (NYSE:SLB) by 48.6% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 7,393 shares of the oil and gas company’s stock after selling 6,989 shares during the period. Nicholas Hoffman & Company LLC.’s holdings in Schlumberger were worth $309,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the company. First Command Advisory Services Inc. increased its position in Schlumberger by 300.0% in 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 acquiring an additional 477 shares during the period. Alpine Bank Wealth Management acquired a new position in shares of Schlumberger during the first quarter valued at $34,000. True Wealth Design LLC raised its stake in shares of Schlumberger by 584.7% during the fourth quarter. True Wealth Design LLC now owns 986 shares of the oil and gas company’s stock valued at $38,000 after purchasing an additional 842 shares in the last quarter. Park Square Financial Group LLC acquired a new stake in Schlumberger in the first quarter worth about $38,000. Finally, Mpwm Advisory Solutions LLC bought a new position in Schlumberger in the 4th quarter valued at about $40,000. Institutional investors and hedge funds own 81.99% of the company’s stock.

Wall Street Analysts Forecast Growth

SLB has been the topic of a number of recent analyst reports. Jefferies Financial Group dropped their price target on shares of Schlumberger from $54.00 to $53.00 and set a “buy” rating on the stock in a research report on Thursday, June 26th. UBS Group boosted their target price on Schlumberger from $44.00 to $45.00 and gave the stock a “buy” rating in a report on Wednesday, July 2nd. Stifel Nicolaus decreased their price target on Schlumberger from $54.00 to $52.00 and set a “buy” rating for the company in a research note on Wednesday, July 16th. Morgan Stanley dropped their price objective on Schlumberger from $50.00 to $45.00 and set an “overweight” rating on the stock in a research note on Friday, May 16th. Finally, JPMorgan Chase & Co. cut their price objective on Schlumberger from $46.00 to $44.00 and set an “overweight” rating for the company in a report on Monday, June 30th. Four research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, Schlumberger currently has a consensus rating of “Moderate Buy” and an average price target of $49.28.

Schlumberger Price Performance

NYSE SLB opened at $32.88 on Thursday. The company has a current ratio of 1.31, a quick ratio of 0.98 and a debt-to-equity ratio of 0.51. Schlumberger Limited has a 1 year low of $31.11 and a 1 year high of $46.16. The company has a market cap of $44.43 billion, a PE ratio of 11.26, a PEG ratio of 9.29 and a beta of 1.03. The stock’s 50-day moving average price is $34.74 and its two-hundred day moving average price is $37.05.

Schlumberger (NYSE:SLB) last released its quarterly earnings results on Friday, July 18th. The oil and gas company reported $0.74 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.73 by $0.01. The business had revenue of $8.55 billion for the quarter, compared to analyst estimates of $8.51 billion. Schlumberger had a net margin of 11.53% and a return on equity of 20.99%. The firm’s revenue was down 6.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.85 earnings per share. On average, analysts predict that Schlumberger Limited will post 3.38 EPS for the current year.

Schlumberger Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 9th. Stockholders of record on Wednesday, September 3rd will be issued a $0.285 dividend. The ex-dividend date is Wednesday, September 3rd. This represents a $1.14 dividend on an annualized basis and a dividend yield of 3.5%. Schlumberger’s dividend payout ratio is presently 39.04%.

Insider Activity

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

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.