Sigma Planning Corp Sells 1,833 Shares of Schlumberger Limited (NYSE:SLB)

Sigma Planning Corp reduced its stake in shares of Schlumberger Limited (NYSE:SLB) by 14.9% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 10,463 shares of the oil and gas company’s stock after selling 1,833 shares during the quarter. Sigma Planning Corp’s holdings in Schlumberger were worth $439,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in SLB. Banco Santander S.A. boosted its stake in Schlumberger by 7.2% during the first quarter. Banco Santander S.A. now owns 26,169 shares of the oil and gas company’s stock worth $1,434,000 after buying an additional 1,748 shares during the period. M&G Plc bought a new position in Schlumberger during the 1st quarter valued at about $16,509,000. Cornerstone Advisors LLC raised its position in Schlumberger by 62.6% in the 1st quarter. Cornerstone Advisors LLC now owns 26,500 shares of the oil and gas company’s stock worth $1,452,000 after purchasing an additional 10,200 shares during the period. Vanguard Group Inc. lifted its stake in Schlumberger by 1.4% in the first quarter. Vanguard Group Inc. now owns 134,150,168 shares of the oil and gas company’s stock worth $7,352,771,000 after purchasing an additional 1,868,688 shares during the last quarter. Finally, Acadian Asset Management LLC boosted its position in shares of Schlumberger by 4.1% during the first quarter. Acadian Asset Management LLC now owns 8,638 shares of the oil and gas company’s stock valued at $471,000 after buying an additional 337 shares during the period. 81.99% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. BMO Capital Markets decreased their price target on Schlumberger from $60.00 to $58.00 and set an “outperform” rating for the company in a research note on Thursday, October 10th. Benchmark reissued a “buy” rating and set a $68.00 target price on shares of Schlumberger in a research note on Monday, July 22nd. Sanford C. Bernstein raised shares of Schlumberger to a “strong-buy” rating in a research note on Tuesday. Barclays lowered their price objective on shares of Schlumberger from $67.00 to $63.00 and set an “overweight” rating for the company in a research report on Wednesday, October 16th. Finally, Morgan Stanley reduced their target price on shares of Schlumberger from $65.00 to $60.00 and set an “overweight” rating on the stock in a research report on Monday, September 16th. Two research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $60.97.

Schlumberger Price Performance

SLB opened at $43.18 on Friday. The firm has a market capitalization of $60.98 billion, a PE ratio of 14.07, a price-to-earnings-growth ratio of 1.54 and a beta of 1.52. 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 business’s 50-day moving average is $42.35 and its two-hundred day moving average is $44.75. Schlumberger Limited has a 1 year low of $38.66 and a 1 year high of $55.69.

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

Schlumberger Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 9th. Stockholders of record on Wednesday, December 4th will be given 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 2.55%. Schlumberger’s payout ratio is 35.37%.

Insider Buying and Selling

In other news, EVP Abdellah Merad sold 60,000 shares of the business’s stock in a transaction dated Thursday, October 24th. The stock was 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 owns 211,937 shares in the company, valued at approximately $8,880,160.30. The trade was a 22.06 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.26% of the stock is owned by company insiders.

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.