BLB&B Advisors LLC Decreases Stock Holdings in Schlumberger Limited (NYSE:SLB)

BLB&B Advisors LLC lessened its holdings in Schlumberger Limited (NYSE:SLB) by 4.2% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 9,624 shares of the oil and gas company’s stock after selling 417 shares during the quarter. BLB&B Advisors LLC’s holdings in Schlumberger were worth $404,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of SLB. ORG Partners LLC increased its holdings in shares of Schlumberger by 393.5% in the 3rd quarter. ORG Partners LLC now owns 607 shares of the oil and gas company’s stock valued at $25,000 after acquiring an additional 484 shares during the last quarter. Register Financial Advisors LLC acquired a new position in Schlumberger in the first quarter valued at approximately $27,000. Bruce G. Allen Investments LLC increased its stake in Schlumberger by 204.2% in the second quarter. Bruce G. Allen Investments LLC now owns 584 shares of the oil and gas company’s stock valued at $28,000 after purchasing an additional 392 shares during the last quarter. Unique Wealth Strategies LLC acquired a new stake in Schlumberger during the second quarter worth approximately $30,000. Finally, Manchester Capital Management LLC boosted its holdings in shares of Schlumberger by 297.9% in the 1st quarter. Manchester Capital Management LLC now owns 569 shares of the oil and gas company’s stock valued at $31,000 after buying an additional 426 shares in the last quarter. 81.99% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on SLB shares. UBS Group cut their price target on shares of Schlumberger from $63.00 to $57.00 and set a “buy” rating on the stock in a research note on Wednesday, September 18th. Susquehanna cut their target price on Schlumberger from $60.00 to $56.00 and set a “positive” rating on the stock in a research report on Monday. Stifel Nicolaus reissued a “buy” rating and issued a $60.00 target price (down from $62.00) on shares of Schlumberger in a research report on Monday. Royal Bank of Canada reaffirmed an “outperform” rating and set a $69.00 price target on shares of Schlumberger in a research report on Thursday, October 3rd. Finally, Barclays decreased their price objective on Schlumberger from $67.00 to $63.00 and set an “overweight” rating for the company in a report on Wednesday, October 16th. Two analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $60.97.

Schlumberger Price Performance

Shares of NYSE:SLB opened at $42.13 on Thursday. Schlumberger Limited has a 52 week low of $38.66 and a 52 week high of $59.05. The company has a 50-day moving average price of $43.00 and a 200 day moving average price of $45.75. The company has a market cap of $59.82 billion, a P/E ratio of 13.55, a PEG ratio of 1.27 and a beta of 1.51. The company has a quick ratio of 1.13, a current ratio of 1.49 and a debt-to-equity ratio of 0.55.

Schlumberger (NYSE:SLB) last posted its quarterly earnings results on Friday, October 18th. The oil and gas company reported $0.89 EPS for the quarter, beating the consensus estimate of $0.88 by $0.01. The business had revenue of $9.16 billion during the quarter, compared to analysts’ expectations of $9.27 billion. Schlumberger had a return on equity of 21.92% and a net margin of 12.56%. The company’s quarterly revenue was up 10.2% compared to the same quarter last year. During the same period last year, the firm earned $0.78 EPS. Research analysts predict that Schlumberger Limited will post 3.44 earnings per share for the current year.

Schlumberger Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 9th. Stockholders of record on Wednesday, December 4th will be issued a $0.275 dividend. The ex-dividend date is Wednesday, December 4th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 2.61%. Schlumberger’s dividend payout ratio is presently 35.37%.

About Schlumberger

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.