Schlumberger Limited (NYSE:SLB) Shares Sold by Mesirow Financial Investment Management Inc.

Mesirow Financial Investment Management Inc. trimmed its holdings in Schlumberger Limited (NYSE:SLB) by 9.1% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 10,769 shares of the oil and gas company’s stock after selling 1,078 shares during the period. Mesirow Financial Investment Management Inc.’s holdings in Schlumberger were worth $452,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in SLB. Essex Savings Bank lifted its position in Schlumberger by 18.8% in the third quarter. Essex Savings Bank now owns 5,753 shares of the oil and gas company’s stock valued at $241,000 after purchasing an additional 910 shares during the period. Tompkins Financial Corp boosted its stake in shares of Schlumberger by 5.5% in the third quarter. Tompkins Financial Corp now owns 5,800 shares of the oil and gas company’s stock valued at $243,000 after buying an additional 300 shares in the last quarter. Equitable Trust Co. lifted its stake in shares of Schlumberger by 33.7% in the third quarter. Equitable Trust Co. now owns 10,830 shares of the oil and gas company’s stock valued at $454,000 after purchasing an additional 2,727 shares during the period. CWA Asset Management Group LLC purchased a new position in Schlumberger in the third quarter valued at about $5,444,000. Finally, AIA Group Ltd increased its stake in Schlumberger by 1.0% in the 3rd quarter. AIA Group Ltd now owns 148,668 shares of the oil and gas company’s stock valued at $6,237,000 after purchasing an additional 1,468 shares in the last quarter. 81.99% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Schlumberger

In related news, EVP Abdellah Merad sold 60,000 shares of Schlumberger 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 sale, the executive vice president now directly owns 211,937 shares in the company, valued at $8,880,160.30. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.26% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on SLB. Susquehanna dropped their price objective on shares of Schlumberger from $60.00 to $56.00 and set a “positive” rating for the company in a research note on Monday, October 21st. Evercore ISI cut their price target on shares of Schlumberger from $74.00 to $62.00 and set an “outperform” rating on the stock in a research note on Monday, October 21st. JPMorgan Chase & Co. decreased their target price on Schlumberger from $64.00 to $60.00 and set an “overweight” rating for the company in a report on Tuesday, October 1st. Piper Sandler decreased their price objective on shares of Schlumberger from $71.00 to $66.00 and set an “overweight” rating for the company in a research note on Monday, July 15th. Finally, Barclays cut their target price on shares of Schlumberger from $67.00 to $63.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 16th. Two research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Schlumberger has an average rating of “Moderate Buy” and a consensus price target of $60.97.

Schlumberger Price Performance

Shares of NYSE SLB opened at $44.29 on Tuesday. The business has a 50 day simple moving average of $42.21 and a 200-day simple moving average of $44.84. Schlumberger Limited has a twelve month low of $38.66 and a twelve month high of $55.69. The company has a market capitalization of $62.54 billion, a price-to-earnings ratio of 14.14, a price-to-earnings-growth ratio of 1.52 and a beta of 1.52. The company has a current ratio of 1.48, a quick ratio of 1.12 and a debt-to-equity ratio of 0.52.

Schlumberger (NYSE:SLB) last posted its 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. Schlumberger had a return on equity of 21.84% and a net margin of 12.44%. The company had revenue of $9.16 billion during the quarter, compared to analyst estimates of $9.27 billion. During the same period in the prior year, the company earned $0.78 earnings per share. The business’s revenue was up 10.2% compared to the same quarter last year. As a group, equities research analysts expect that Schlumberger Limited will post 3.4 earnings per share for the current year.

Schlumberger Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 9th. Investors of record on Wednesday, December 4th will be given a $0.275 dividend. This represents a $1.10 annualized dividend and a yield of 2.48%. The ex-dividend date is Wednesday, December 4th. Schlumberger’s dividend payout ratio is currently 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.