Apollon Wealth Management LLC Sells 3,406 Shares of Schlumberger Limited (NYSE:SLB)

Apollon Wealth Management LLC lessened its holdings in Schlumberger Limited (NYSE:SLB) by 12.2% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 24,470 shares of the oil and gas company’s stock after selling 3,406 shares during the period. Apollon Wealth Management LLC’s holdings in Schlumberger were worth $1,027,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Bruce G. Allen Investments LLC raised its stake in Schlumberger by 204.2% during the 2nd quarter. Bruce G. Allen Investments LLC now owns 584 shares of the oil and gas company’s stock worth $28,000 after acquiring an additional 392 shares during the period. ORG Partners LLC raised its stake in Schlumberger by 393.5% during the 3rd quarter. ORG Partners LLC now owns 607 shares of the oil and gas company’s stock worth $25,000 after acquiring an additional 484 shares during the period. Unique Wealth Strategies LLC bought a new stake in Schlumberger during the 2nd quarter worth approximately $30,000. Riverview Trust Co raised its stake in Schlumberger by 90.6% during the 2nd quarter. Riverview Trust Co now owns 648 shares of the oil and gas company’s stock worth $31,000 after acquiring an additional 308 shares during the period. Finally, First Community Trust NA raised its stake in Schlumberger by 264.0% during the 2nd quarter. First Community Trust NA now owns 728 shares of the oil and gas company’s stock worth $34,000 after acquiring an additional 528 shares during the period. Institutional investors own 81.99% of the company’s stock.

Insider Buying and Selling

In other news, EVP Abdellah Merad sold 60,000 shares of Schlumberger 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 sale, the executive vice president now directly owns 211,937 shares in the company, 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.26% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

SLB has been the subject of a number of research analyst reports. Dbs Bank initiated coverage on shares of Schlumberger in a report on Wednesday, September 18th. They set a “buy” rating and a $64.50 price objective for the company. TD Cowen cut their price objective on shares of Schlumberger from $68.00 to $65.00 and set a “buy” rating for the company in a report on Monday, October 21st. Wells Fargo & Company cut their price objective on shares of Schlumberger from $53.00 to $49.00 and set an “equal weight” rating for the company in a report on Wednesday, September 25th. JPMorgan Chase & Co. cut their price objective on shares of Schlumberger from $64.00 to $60.00 and set an “overweight” rating for the company in a report on Tuesday, October 1st. Finally, Sanford C. Bernstein raised shares of Schlumberger to a “strong-buy” rating in a report on Tuesday. Two analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Schlumberger has a consensus rating of “Moderate Buy” and an average price target of $60.97.

Schlumberger Stock Down 0.6 %

Shares of SLB opened at $43.18 on Friday. The company has a market cap of $60.98 billion, a PE ratio of 13.88, a P/E/G ratio of 1.54 and a beta of 1.52. The business has a fifty day moving average of $42.35 and a 200 day moving average of $44.75. Schlumberger Limited has a 52-week low of $38.66 and a 52-week high of $55.69. The company has a quick ratio of 1.12, a current ratio of 1.48 and a debt-to-equity ratio of 0.52.

Schlumberger (NYSE:SLB) last issued its quarterly earnings results 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. The company had revenue of $9.16 billion during the quarter, compared to the consensus estimate of $9.27 billion. Schlumberger had a return on equity of 21.84% and a net margin of 12.44%. Schlumberger’s revenue was up 10.2% on a year-over-year basis. During the same period last year, the company earned $0.78 earnings per share. On average, sell-side analysts expect that Schlumberger Limited will post 3.4 EPS for the current year.

Schlumberger Dividend Announcement

The business 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 $0.275 dividend. The ex-dividend date is Wednesday, December 4th. This represents a $1.10 dividend on an annualized basis and a yield of 2.55%. Schlumberger’s dividend payout ratio is presently 35.37%.

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.