Modera Wealth Management LLC Invests $235,000 in Schlumberger Limited (NYSE:SLB)

Modera Wealth Management LLC bought a new position in shares of Schlumberger Limited (NYSE:SLB) in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund bought 5,594 shares of the oil and gas company’s stock, valued at approximately $235,000.

Several other institutional investors also recently modified their holdings of SLB. State of Alaska Department of Revenue grew its position in shares of Schlumberger by 0.4% during the 1st quarter. State of Alaska Department of Revenue now owns 154,854 shares of the oil and gas company’s stock worth $8,487,000 after buying an additional 630 shares during the period. Norden Group LLC acquired a new position in shares of Schlumberger in the 1st quarter valued at approximately $4,046,000. Massachusetts Wealth Management grew its position in shares of Schlumberger by 1.3% in the 1st quarter. Massachusetts Wealth Management now owns 57,517 shares of the oil and gas company’s stock valued at $3,153,000 after purchasing an additional 750 shares during the period. Kovack Advisors Inc. grew its position in shares of Schlumberger by 6.9% in the 1st quarter. Kovack Advisors Inc. now owns 43,720 shares of the oil and gas company’s stock valued at $2,396,000 after purchasing an additional 2,827 shares during the period. Finally, First Trust Direct Indexing L.P. grew its position in shares of Schlumberger by 1.4% in the 1st quarter. First Trust Direct Indexing L.P. now owns 45,401 shares of the oil and gas company’s stock valued at $2,488,000 after purchasing an additional 641 shares during the period. 81.99% of the stock is currently owned by institutional investors and hedge funds.

Schlumberger Trading Down 2.3 %

Shares of Schlumberger stock opened at $40.43 on Wednesday. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.48 and a quick ratio of 1.12. The company has a market capitalization of $57.79 billion, a price-to-earnings ratio of 13.43, a P/E/G ratio of 1.47 and a beta of 1.51. The business has a fifty day simple moving average of $42.71 and a two-hundred day simple moving average of $45.35. Schlumberger Limited has a 1 year low of $38.66 and a 1 year high of $57.75.

Schlumberger (NYSE:SLB) last posted its quarterly earnings data on Friday, October 18th. The oil and gas company reported $0.89 earnings per share for the quarter, topping the consensus estimate of $0.88 by $0.01. The firm had revenue of $9.16 billion for the quarter, compared to analysts’ expectations of $9.27 billion. Schlumberger had a return on equity of 21.84% and a net margin of 12.44%. The company’s quarterly revenue was up 10.2% compared to the same quarter last year. During the same quarter last year, the business earned $0.78 EPS. Research analysts forecast that Schlumberger Limited will post 3.4 EPS for the current year.

Schlumberger Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 9th. Shareholders of record on Wednesday, December 4th will be given a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a yield of 2.72%. The ex-dividend date is Wednesday, December 4th. Schlumberger’s payout ratio is 36.54%.

Insiders Place Their Bets

In related news, EVP Abdellah Merad sold 60,000 shares of the firm’s stock in a transaction 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 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.26% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. BMO Capital Markets decreased their price objective on Schlumberger from $60.00 to $58.00 and set an “outperform” rating for the company in a research report on Thursday, October 10th. Evercore ISI cut their target price on Schlumberger from $74.00 to $62.00 and set an “outperform” rating on the stock in a research note on Monday, October 21st. Barclays cut their target price on Schlumberger from $67.00 to $63.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 16th. Wells Fargo & Company cut their target price on Schlumberger from $53.00 to $49.00 and set an “equal weight” rating on the stock in a research note on Wednesday, September 25th. Finally, Bank of America cut their target price on Schlumberger from $58.00 to $54.00 and set a “buy” rating on the stock in a research note on Monday, October 14th. Two research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to MarketBeat.com, Schlumberger has an average rating of “Moderate Buy” and a consensus price target of $60.97.

Schlumberger 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.