Schlumberger Limited (NYSE:SLB) Shares Sold by Creative Planning

Creative Planning trimmed its position in Schlumberger Limited (NYSE:SLB) by 7.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 243,260 shares of the oil and gas company’s stock after selling 20,147 shares during the quarter. Creative Planning’s holdings in Schlumberger were worth $10,205,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Grove Bank & Trust raised its holdings in shares of Schlumberger by 17.4% in the 3rd quarter. Grove Bank & Trust now owns 1,514 shares of the oil and gas company’s stock valued at $64,000 after purchasing an additional 224 shares in the last quarter. Wedge Capital Management L L P NC grew its position in Schlumberger by 25.9% during the 3rd quarter. Wedge Capital Management L L P NC now owns 163,079 shares of the oil and gas company’s stock worth $6,841,000 after purchasing an additional 33,512 shares during the last quarter. ORG Partners LLC grew its position 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 purchasing an additional 484 shares during the last quarter. Stablepoint Partners LLC grew its position in Schlumberger by 4.3% during the 3rd quarter. Stablepoint Partners LLC now owns 23,840 shares of the oil and gas company’s stock worth $1,000,000 after purchasing an additional 982 shares during the last quarter. Finally, Sapient Capital LLC grew its position in Schlumberger by 6.9% during the 3rd quarter. Sapient Capital LLC now owns 5,034 shares of the oil and gas company’s stock worth $212,000 after purchasing an additional 323 shares during the last quarter. 81.99% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on SLB shares. Benchmark reaffirmed a “buy” rating and issued a $68.00 target price on shares of Schlumberger in a report on Monday, July 22nd. Morgan Stanley lowered their target price on shares of Schlumberger from $65.00 to $60.00 and set an “overweight” rating on the stock in a report on Monday, September 16th. Citigroup lowered their target price on shares of Schlumberger from $60.00 to $54.00 and set a “buy” rating on the stock in a report on Tuesday. JPMorgan Chase & Co. lowered their target price on shares of Schlumberger from $64.00 to $60.00 and set an “overweight” rating on the stock in a report on Tuesday, October 1st. Finally, Evercore ISI decreased their price objective on shares of Schlumberger from $74.00 to $62.00 and set an “outperform” rating on the stock in a report on Monday. Two investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to MarketBeat, Schlumberger has an average rating of “Moderate Buy” and a consensus target price of $61.58.

Schlumberger Stock Performance

NYSE:SLB opened at $41.94 on Wednesday. The firm has a 50 day simple moving average of $43.03 and a 200-day simple moving average of $45.78. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.49 and a quick ratio of 1.13. The firm has a market cap of $59.54 billion, a PE ratio of 13.48, a P/E/G ratio of 1.27 and a beta of 1.51. Schlumberger Limited has a 1-year low of $38.66 and a 1-year high of $59.05.

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

Schlumberger Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 9th. Investors of record on Wednesday, December 4th will be issued a $0.275 dividend. The ex-dividend date of this dividend is Wednesday, December 4th. This represents a $1.10 dividend on an annualized basis and a yield of 2.62%. Schlumberger’s payout ratio is 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.