Kingsview Wealth Management LLC Sells 2,754 Shares of Schlumberger Limited (NYSE:SLB)

Kingsview Wealth Management LLC reduced its position in Schlumberger Limited (NYSE:SLB) by 12.8% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 18,692 shares of the oil and gas company’s stock after selling 2,754 shares during the period. Kingsview Wealth Management LLC’s holdings in Schlumberger were worth $784,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. Crescent Grove Advisors LLC purchased a new stake in shares of Schlumberger during the 2nd quarter valued at approximately $257,000. Victory Capital Management Inc. lifted its position in shares of Schlumberger by 8.7% during the third quarter. Victory Capital Management Inc. now owns 817,771 shares of the oil and gas company’s stock worth $34,305,000 after acquiring an additional 65,318 shares in the last quarter. Concurrent Investment Advisors LLC boosted its holdings in shares of Schlumberger by 269.1% in the third quarter. Concurrent Investment Advisors LLC now owns 19,718 shares of the oil and gas company’s stock worth $827,000 after acquiring an additional 14,376 shares during the period. Public Sector Pension Investment Board grew its position in shares of Schlumberger by 0.6% in the second quarter. Public Sector Pension Investment Board now owns 1,901,713 shares of the oil and gas company’s stock valued at $89,723,000 after purchasing an additional 11,813 shares in the last quarter. Finally, Los Angeles Capital Management LLC raised its stake in shares of Schlumberger by 26.0% during the 3rd quarter. Los Angeles Capital Management LLC now owns 307,040 shares of the oil and gas company’s stock valued at $12,880,000 after purchasing an additional 63,413 shares during the period. 81.99% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. JPMorgan Chase & Co. cut their target price on Schlumberger from $64.00 to $60.00 and set an “overweight” rating for the company in a research note on Tuesday, October 1st. Barclays cut 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. Sanford C. Bernstein raised shares of Schlumberger to a “strong-buy” rating in a report on Tuesday, November 12th. Dbs Bank started coverage on shares of Schlumberger in a report on Wednesday, September 18th. They issued a “buy” rating and a $64.50 price target for the company. Finally, Evercore ISI decreased their price target on shares of Schlumberger from $74.00 to $62.00 and set an “outperform” rating on the stock in a report on Monday, October 21st. Two research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $60.97.

Schlumberger Price Performance

Shares of Schlumberger stock opened at $43.66 on Thursday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.12 and a current ratio of 1.48. Schlumberger Limited has a 52-week low of $38.66 and a 52-week high of $55.69. The company has a fifty day moving average of $42.94 and a 200-day moving average of $44.45. The stock has a market capitalization of $61.65 billion, a price-to-earnings ratio of 14.04, a price-to-earnings-growth ratio of 1.55 and a beta of 1.52.

Schlumberger (NYSE:SLB) last announced its quarterly earnings data on Friday, October 18th. The oil and gas company reported $0.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.88 by $0.01. Schlumberger had a return on equity of 21.84% and a net margin of 12.44%. The firm had revenue of $9.16 billion for the quarter, compared to analysts’ expectations of $9.27 billion. During the same period last year, the firm earned $0.78 earnings per share. The company’s revenue for the quarter was up 10.2% compared to the same quarter last year. Equities research analysts expect that Schlumberger Limited will post 3.39 EPS for the current year.

Schlumberger Dividend Announcement

The business 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. This represents a $1.10 dividend on an annualized basis and a dividend yield of 2.52%. The ex-dividend date of this dividend is Wednesday, December 4th. Schlumberger’s dividend payout ratio (DPR) is presently 35.37%.

Insider Transactions at Schlumberger

In related news, EVP Abdellah Merad sold 60,000 shares of the company’s stock in a transaction on Thursday, October 24th. The shares were 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 $8,880,160.30. This represents a 22.06 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Company insiders own 0.26% of the company’s stock.

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.