Schlumberger Limited (NYSE:SLB) Shares Sold by SpiderRock Advisors LLC

SpiderRock Advisors LLC trimmed its holdings in Schlumberger Limited (NYSE:SLB) by 3.7% during the third quarter, Holdings Channel reports. The institutional investor owned 51,717 shares of the oil and gas company’s stock after selling 1,985 shares during the period. SpiderRock Advisors LLC’s holdings in Schlumberger were worth $2,170,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in SLB. Equitable Trust Co. raised its holdings in shares of Schlumberger by 33.7% in the 3rd quarter. Equitable Trust Co. now owns 10,830 shares of the oil and gas company’s stock worth $454,000 after purchasing an additional 2,727 shares during the period. CWA Asset Management Group LLC purchased a new position in shares of Schlumberger in the 3rd quarter worth about $5,444,000. AIA Group Ltd raised its holdings in shares of Schlumberger by 1.0% in the 3rd quarter. AIA Group Ltd now owns 148,668 shares of the oil and gas company’s stock worth $6,237,000 after purchasing an additional 1,468 shares during the period. Hara Capital LLC raised its holdings in shares of Schlumberger by 15.7% in the 3rd quarter. Hara Capital LLC now owns 9,909 shares of the oil and gas company’s stock worth $416,000 after purchasing an additional 1,345 shares during the period. Finally, Kornitzer Capital Management Inc. KS raised its holdings in shares of Schlumberger by 2.0% in the 3rd quarter. Kornitzer Capital Management Inc. KS now owns 1,539,184 shares of the oil and gas company’s stock worth $64,569,000 after purchasing an additional 29,504 shares during the period. 81.99% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Schlumberger

In other news, EVP Abdellah Merad sold 60,000 shares of Schlumberger stock in a transaction that occurred on Thursday, October 24th. The stock was sold at an average price of $41.90, for a total value of $2,514,000.00. Following the completion of the transaction, the executive vice president now owns 211,937 shares in the company, valued at approximately $8,880,160.30. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.26% of the company’s stock.

Analyst Ratings Changes

SLB has been the topic of a number of research reports. Morgan Stanley cut their price objective on Schlumberger from $65.00 to $60.00 and set an “overweight” rating on the stock in a report on Monday, September 16th. BMO Capital Markets cut their price objective on Schlumberger from $60.00 to $58.00 and set an “outperform” rating on the stock in a report on Thursday, October 10th. Wells Fargo & Company dropped their target price on Schlumberger from $53.00 to $49.00 and set an “equal weight” rating on the stock in a report on Wednesday, September 25th. Benchmark reiterated a “buy” rating and set a $68.00 target price on shares of Schlumberger in a report on Monday, July 22nd. Finally, UBS Group dropped their target price on Schlumberger from $63.00 to $57.00 and set a “buy” rating on the stock in a report on Wednesday, September 18th. Two research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $60.97.

Schlumberger Price Performance

Shares of NYSE SLB opened at $43.18 on Friday. Schlumberger Limited has a fifty-two week low of $38.66 and a fifty-two week high of $55.69. The business has a 50 day moving average price of $42.21 and a two-hundred day moving average price of $44.90. 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 firm has a market cap of $60.98 billion, a PE ratio of 13.88, a price-to-earnings-growth ratio of 1.54 and a beta of 1.52.

Schlumberger (NYSE:SLB) last issued its earnings results on Friday, October 18th. The oil and gas company reported $0.89 EPS for the quarter, topping the consensus estimate of $0.88 by $0.01. The company had revenue of $9.16 billion during the quarter, compared to analyst estimates of $9.27 billion. Schlumberger had a return on equity of 21.84% and a net margin of 12.44%. The business’s revenue was up 10.2% on a year-over-year basis. During the same quarter last year, the firm earned $0.78 EPS. Sell-side analysts expect that Schlumberger Limited will post 3.4 earnings per share for the current fiscal year.

Schlumberger Dividend Announcement

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 given a $0.275 dividend. The ex-dividend date is Wednesday, December 4th. This represents a $1.10 annualized dividend and a dividend yield of 2.55%. Schlumberger’s payout ratio is 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.