My Legacy Advisors LLC Trims Holdings in Schlumberger Limited (NYSE:SLB)

My Legacy Advisors LLC lowered its position in shares of Schlumberger Limited (NYSE:SLB) by 21.4% in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 6,425 shares of the oil and gas company’s stock after selling 1,752 shares during the quarter. My Legacy Advisors LLC’s holdings in Schlumberger were worth $270,000 as of its most recent filing with the SEC.

Other large investors also recently bought and sold shares of the company. ORG Partners LLC grew its stake in shares of 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 purchasing an additional 484 shares during the period. Register Financial Advisors LLC acquired a new position in shares of Schlumberger during the 1st quarter worth $27,000. Bruce G. Allen Investments LLC grew its stake in shares of 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 purchasing an additional 392 shares during the period. Unique Wealth Strategies LLC acquired a new position in shares of Schlumberger during the 2nd quarter worth $30,000. Finally, Manchester Capital Management LLC grew its stake in shares of 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 purchasing an additional 426 shares during the period. Hedge funds and other institutional investors own 81.99% of the company’s stock.

Schlumberger Trading Down 1.2 %

NYSE SLB opened at $41.94 on Wednesday. Schlumberger Limited has a one year low of $38.66 and a one year high of $59.05. The company’s 50 day moving average price is $43.03 and its 200 day moving average price is $45.78. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.13 and a current ratio of 1.49. The firm has a market capitalization of $59.54 billion, a price-to-earnings ratio of 13.48, a PEG ratio of 1.27 and a beta of 1.51.

Schlumberger (NYSE:SLB) last posted its quarterly earnings results on Friday, October 18th. The oil and gas company reported $0.89 EPS for the quarter, beating the consensus estimate of $0.88 by $0.01. Schlumberger had a net margin of 12.56% and a return on equity of 21.92%. The firm had revenue of $9.16 billion for the quarter, compared to analyst estimates of $9.27 billion. During the same quarter last year, the firm posted $0.78 earnings per share. Schlumberger’s revenue for the quarter was up 10.2% compared to the same quarter last year. On average, sell-side analysts predict that Schlumberger Limited will post 3.44 EPS for the current year.

Schlumberger Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 9th. Shareholders of record on Wednesday, December 4th will be given a $0.275 dividend. This represents a $1.10 annualized dividend and a yield of 2.62%. The ex-dividend date is Wednesday, December 4th. Schlumberger’s dividend payout ratio (DPR) is 35.37%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the stock. Piper Sandler lowered their price target on shares of Schlumberger from $71.00 to $66.00 and set an “overweight” rating on the stock in a research note on Monday, July 15th. Wells Fargo & Company lowered their price objective on shares of Schlumberger from $53.00 to $49.00 and set an “equal weight” rating on the stock in a research note on Wednesday, September 25th. Bank of America lowered their price objective on shares of Schlumberger from $58.00 to $54.00 and set a “buy” rating on the stock in a research note on Monday, October 14th. Barclays lowered their price objective on shares of Schlumberger from $67.00 to $63.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 16th. Finally, Susquehanna lowered their price objective on shares of Schlumberger from $60.00 to $56.00 and set a “positive” rating on the stock in a research note on Monday. Two equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to data from MarketBeat.com, Schlumberger presently has an average rating of “Moderate Buy” and a consensus target price of $61.58.

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.