Brighton Jones LLC Sells 1,040 Shares of Schlumberger Limited (NYSE:SLB)

Brighton Jones LLC reduced its stake in Schlumberger Limited (NYSE:SLB) by 16.0% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 5,445 shares of the oil and gas company’s stock after selling 1,040 shares during the period. Brighton Jones LLC’s holdings in Schlumberger were worth $228,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in SLB. Register Financial Advisors LLC acquired a new position in shares of Schlumberger during the 1st quarter worth about $27,000. Manchester Capital Management LLC boosted its stake in Schlumberger by 297.9% during the 1st quarter. Manchester Capital Management LLC now owns 569 shares of the oil and gas company’s stock worth $31,000 after acquiring an additional 426 shares during the last quarter. Bruce G. Allen Investments LLC grew its holdings in Schlumberger by 204.2% during 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 period. ORG Partners LLC increased its stake in Schlumberger by 393.5% in the third quarter. ORG Partners LLC now owns 607 shares of the oil and gas company’s stock valued at $25,000 after purchasing an additional 484 shares in the last quarter. Finally, Unique Wealth Strategies LLC acquired a new stake in Schlumberger in the second quarter worth $30,000. 81.99% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Schlumberger

In other Schlumberger 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 sale, the executive vice president now owns 211,937 shares of the company’s stock, valued at approximately $8,880,160.30. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.26% of the stock is currently owned by insiders.

Schlumberger Price Performance

NYSE:SLB opened at $41.74 on Friday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.12 and a current ratio of 1.48. The firm has a market cap of $59.66 billion, a price-to-earnings ratio of 13.87, a P/E/G ratio of 1.48 and a beta of 1.51. Schlumberger Limited has a 52 week low of $38.66 and a 52 week high of $57.75. The firm’s 50-day simple moving average is $42.86 and its 200 day simple moving average is $45.64.

Schlumberger (NYSE:SLB) last released its earnings results on Friday, October 18th. The oil and gas company reported $0.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.88 by $0.01. The company had revenue of $9.16 billion for 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%. Schlumberger’s quarterly revenue was up 10.2% on a year-over-year basis. During the same period in the prior year, the firm posted $0.78 EPS. As a group, sell-side analysts predict that Schlumberger Limited will post 3.41 earnings per share for the current year.

Schlumberger Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 9th. Investors of record on Wednesday, December 4th will be given a dividend of $0.275 per share. The ex-dividend date of this dividend is Wednesday, December 4th. This represents a $1.10 annualized dividend and a dividend yield of 2.64%. Schlumberger’s dividend payout ratio is 36.54%.

Wall Street Analyst Weigh In

SLB has been the topic of several recent analyst reports. TD Cowen reduced their target price on Schlumberger from $68.00 to $65.00 and set a “buy” rating on the stock in a report on Monday, October 21st. Bank of America cut their price objective on Schlumberger from $58.00 to $54.00 and set a “buy” rating on the stock in a report on Monday, October 14th. Dbs Bank assumed coverage on Schlumberger in a research note on Wednesday, September 18th. They set a “buy” rating and a $64.50 target price for the company. Citigroup cut their price target on shares of Schlumberger from $60.00 to $54.00 and set a “buy” rating on the stock in a research note on Tuesday, October 22nd. Finally, Stifel Nicolaus reissued a “buy” rating and set a $60.00 price objective (down previously from $62.00) on shares of Schlumberger in a research report on Monday, October 21st. Two equities 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, Schlumberger has an average rating of “Moderate Buy” and an average target price 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.