Alpha Cubed Investments LLC Has $200,000 Stock Holdings in Schlumberger Limited (NYSE:SLB)

Alpha Cubed Investments LLC lowered its position in shares of Schlumberger Limited (NYSE:SLB) by 43.5% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,770 shares of the oil and gas company’s stock after selling 3,670 shares during the quarter. Alpha Cubed Investments LLC’s holdings in Schlumberger were worth $200,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in SLB. Capital World Investors grew its position in Schlumberger by 72.3% in the first quarter. Capital World Investors now owns 88,950,956 shares of the oil and gas company’s stock valued at $4,875,402,000 after purchasing an additional 37,333,485 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of Schlumberger by 14.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 85,986,039 shares of the oil and gas company’s stock worth $4,712,897,000 after buying an additional 10,606,191 shares during the last quarter. Boston Partners grew its holdings in shares of Schlumberger by 35.8% in the 1st quarter. Boston Partners now owns 11,640,827 shares of the oil and gas company’s stock valued at $635,883,000 after acquiring an additional 3,069,395 shares in the last quarter. Ceredex Value Advisors LLC acquired a new stake in shares of Schlumberger in the second quarter valued at about $92,944,000. Finally, 1832 Asset Management L.P. bought a new stake in Schlumberger during the second quarter worth about $91,364,000. 81.99% of the stock is owned by institutional investors.

Schlumberger Trading Down 3.2 %

SLB stock opened at $44.14 on Wednesday. Schlumberger Limited has a 52 week low of $38.66 and a 52 week high of $61.20. The company has a market capitalization of $63.09 billion, a PE ratio of 14.66, a price-to-earnings-growth ratio of 0.94 and a beta of 1.51. The company’s 50-day simple moving average is $43.30 and its 200 day simple moving average is $46.63. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.13 and a current ratio of 1.49.

Schlumberger (NYSE:SLB) last announced its earnings results on Friday, July 19th. The oil and gas company reported $0.85 EPS for the quarter, topping the consensus estimate of $0.83 by $0.02. The company had revenue of $9.14 billion for the quarter, compared to analysts’ expectations of $9.08 billion. Schlumberger had a net margin of 12.56% and a return on equity of 21.92%. The business’s revenue for the quarter was up 12.8% on a year-over-year basis. During the same period last year, the firm earned $0.72 earnings per share. As a group, sell-side analysts anticipate that Schlumberger Limited will post 3.48 earnings per share for the current year.

Schlumberger Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 10th. Stockholders of record on Wednesday, September 4th will be issued a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a dividend yield of 2.49%. The ex-dividend date of this dividend is Wednesday, September 4th. Schlumberger’s dividend payout ratio (DPR) is currently 36.54%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on SLB shares. JPMorgan Chase & Co. decreased their price target on Schlumberger from $64.00 to $60.00 and set an “overweight” rating for the company in a research note on Tuesday, October 1st. 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 target price for the company. Bank of America dropped their price target on shares of Schlumberger from $62.00 to $58.00 and set a “buy” rating on the stock in a research report on Monday, July 15th. TD Cowen lifted their price objective on shares of Schlumberger from $62.00 to $64.00 and gave the company a “buy” rating in a research report on Monday, July 22nd. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $69.00 target price on shares of Schlumberger in a report on Thursday, October 3rd. Two research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company. According to data from MarketBeat, Schlumberger presently has an average rating of “Moderate Buy” and a consensus target price of $65.29.

Insider Buying and Selling

In related news, EVP Mogharbel Khaled Al sold 120,668 shares of the company’s stock in a transaction dated Monday, July 22nd. The shares were sold at an average price of $50.19, for a total transaction of $6,056,326.92. Following the completion of the sale, the executive vice president now owns 247,699 shares of the company’s stock, valued at $12,432,012.81. 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 through the SEC website. In related news, Director Vijay Kasibhatla sold 10,000 shares of the stock in a transaction on Monday, July 22nd. The shares were sold at an average price of $49.29, for a total transaction of $492,900.00. Following the transaction, the director now directly owns 62,354 shares of the company’s stock, valued at $3,073,428.66. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Mogharbel Khaled Al sold 120,668 shares of Schlumberger stock in a transaction on Monday, July 22nd. The shares were sold at an average price of $50.19, for a total transaction of $6,056,326.92. Following the completion of the sale, the executive vice president now directly owns 247,699 shares of the company’s stock, valued at approximately $12,432,012.81. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 180,716 shares of company stock worth $9,048,624. Company insiders own 0.26% of the company’s stock.

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.