Schlumberger Limited (NYSE:SLB) Shares Sold by Independent Advisor Alliance

Independent Advisor Alliance cut its position in Schlumberger Limited (NYSE:SLB) by 26.6% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 8,312 shares of the oil and gas company’s stock after selling 3,019 shares during the quarter. Independent Advisor Alliance’s holdings in Schlumberger were worth $349,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in SLB. Jacobs Levy Equity Management Inc. purchased a new position in shares of Schlumberger during the first quarter worth approximately $252,000. B. Riley Wealth Advisors Inc. grew its position in Schlumberger by 55.3% during the 1st quarter. B. Riley Wealth Advisors Inc. now owns 24,800 shares of the oil and gas company’s stock worth $1,452,000 after purchasing an additional 8,829 shares during the last quarter. LRI Investments LLC acquired a new position in Schlumberger in the first quarter valued at $80,000. Swedbank AB purchased a new stake in shares of Schlumberger in the first quarter valued at about $28,267,000. Finally, Atria Investments Inc boosted its stake in shares of Schlumberger by 1.9% during the first quarter. Atria Investments Inc now owns 73,617 shares of the oil and gas company’s stock worth $4,034,000 after buying an additional 1,352 shares during the period. Hedge funds and other institutional investors own 81.99% of the company’s stock.

Schlumberger Stock Performance

Shares of SLB stock opened at $43.66 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 stock has a market cap of $61.65 billion, a PE ratio of 14.04, a P/E/G ratio of 1.55 and a beta of 1.52. Schlumberger Limited has a 1 year low of $38.66 and a 1 year high of $55.69. The stock has a fifty day moving average price of $42.95 and a 200 day moving average price of $44.45.

Schlumberger (NYSE:SLB) last released its quarterly 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. Schlumberger had a return on equity of 21.84% and a net margin of 12.44%. The business had revenue of $9.16 billion during the quarter, compared to the consensus estimate of $9.27 billion. During the same quarter in the previous year, the company posted $0.78 EPS. The business’s revenue was up 10.2% on a year-over-year basis. Sell-side analysts forecast that Schlumberger Limited will post 3.39 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 paid a dividend of $0.275 per share. The ex-dividend date of this dividend is Wednesday, December 4th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 2.52%. Schlumberger’s dividend payout ratio (DPR) is 35.37%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on SLB shares. Barclays dropped their price target on Schlumberger from $67.00 to $63.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 16th. Evercore ISI cut their price target on Schlumberger from $74.00 to $62.00 and set an “outperform” rating for the company in a research note on Monday, October 21st. Citigroup lowered their price objective on shares of Schlumberger from $60.00 to $54.00 and set a “buy” rating on the stock in a research report on Tuesday, October 22nd. Dbs Bank started coverage on shares of Schlumberger in a research note on Wednesday, September 18th. They issued a “buy” rating and a $64.50 price objective on the stock. Finally, BMO Capital Markets reduced their target price on shares of Schlumberger from $60.00 to $58.00 and set an “outperform” rating for the company in a research note on Thursday, October 10th. Two research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $60.97.

Insider Buying and Selling

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 transaction of $2,514,000.00. Following the completion of the transaction, 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 22.06 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 0.26% of the company’s stock.

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.