W.H. Cornerstone Investments Inc. Cuts Holdings in Schlumberger Limited (NYSE:SLB)

W.H. Cornerstone Investments Inc. lessened its stake in Schlumberger Limited (NYSE:SLB) by 37.2% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 4,943 shares of the oil and gas company’s stock after selling 2,927 shares during the quarter. W.H. Cornerstone Investments Inc.’s holdings in Schlumberger were worth $207,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Financial Advocates Investment Management raised its holdings in Schlumberger by 3.4% in the second quarter. Financial Advocates Investment Management now owns 6,558 shares of the oil and gas company’s stock valued at $309,000 after acquiring an additional 218 shares in the last quarter. Chilton Capital Management LLC increased its position in shares of Schlumberger by 0.8% in the 2nd quarter. Chilton Capital Management LLC now owns 26,202 shares of the oil and gas company’s stock valued at $1,236,000 after purchasing an additional 219 shares during the last quarter. Grove Bank & Trust lifted 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 purchasing an additional 224 shares during the last quarter. First PREMIER Bank grew its stake in shares of Schlumberger by 8.7% during the second quarter. First PREMIER Bank now owns 2,842 shares of the oil and gas company’s stock worth $134,000 after purchasing an additional 227 shares in the last quarter. Finally, Team Hewins LLC increased its holdings in Schlumberger by 3.0% in the first quarter. Team Hewins LLC now owns 7,924 shares of the oil and gas company’s stock valued at $436,000 after buying an additional 229 shares during the last quarter. Hedge funds and other institutional investors own 81.99% of the company’s stock.

Insider Activity

In related news, EVP Abdellah Merad sold 60,000 shares of the stock in a transaction dated Thursday, October 24th. The shares were sold at an average price of $41.90, for a total transaction of $2,514,000.00. Following the completion of the transaction, the executive vice president now directly owns 211,937 shares of the company’s stock, valued at $8,880,160.30. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Insiders own 0.26% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have issued reports on SLB shares. Bank of America decreased their price target on Schlumberger from $58.00 to $54.00 and set a “buy” rating for the company in a report on Monday, October 14th. Evercore ISI lowered their price target on Schlumberger from $74.00 to $62.00 and set an “outperform” rating for the company in a report on Monday, October 21st. Dbs Bank assumed coverage on shares of Schlumberger in a research note on Wednesday, September 18th. They issued a “buy” rating and a $64.50 price target on the stock. Susquehanna reduced their price objective on shares of Schlumberger from $60.00 to $56.00 and set a “positive” rating for the company in a research report on Monday, October 21st. Finally, Benchmark restated a “buy” rating and issued a $68.00 target price on shares of Schlumberger in a report on Monday, July 22nd. Two investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $60.97.

Schlumberger Stock Performance

Shares of SLB stock opened at $40.32 on Tuesday. Schlumberger Limited has a 52-week low of $38.66 and a 52-week high of $57.47. The stock’s 50-day moving average price is $42.34 and its 200 day moving average price is $45.03. The company has a quick ratio of 1.12, a current ratio of 1.48 and a debt-to-equity ratio of 0.52. The stock has a market capitalization of $56.94 billion, a PE ratio of 12.96, a price-to-earnings-growth ratio of 1.40 and a beta of 1.52.

Schlumberger (NYSE:SLB) last released its earnings results on Friday, October 18th. The oil and gas company reported $0.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.88 by $0.01. Schlumberger had a return on equity of 21.84% and a net margin of 12.44%. The business had revenue of $9.16 billion for the quarter, compared to analyst estimates of $9.27 billion. During the same quarter in the previous year, the company posted $0.78 earnings per share. The company’s revenue for the quarter was up 10.2% compared to the same quarter last year. As a group, equities research analysts forecast that Schlumberger Limited will post 3.4 EPS for the current year.

Schlumberger Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 9th. Stockholders of record on Wednesday, December 4th will be paid a $0.275 dividend. This represents a $1.10 annualized dividend and a dividend yield of 2.73%. The ex-dividend date of this dividend is Wednesday, December 4th. Schlumberger’s dividend payout ratio (DPR) 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.