CX Institutional Sells 3,137 Shares of Schlumberger Limited (NYSE:SLB)

CX Institutional cut its stake in Schlumberger Limited (NYSE:SLB) by 23.7% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 10,126 shares of the oil and gas company’s stock after selling 3,137 shares during the quarter. CX Institutional’s holdings in Schlumberger were worth $425,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the stock. ORG Partners LLC lifted its holdings 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 valued at $25,000 after buying an additional 484 shares during the period. Register Financial Advisors LLC bought a new position in Schlumberger in the first quarter valued at about $27,000. Bruce G. Allen Investments LLC lifted its holdings in Schlumberger by 204.2% in the second quarter. Bruce G. Allen Investments LLC now owns 584 shares of the oil and gas company’s stock valued at $28,000 after acquiring an additional 392 shares during the period. Unique Wealth Strategies LLC purchased a new position in Schlumberger in the second quarter worth about $30,000. Finally, Manchester Capital Management LLC increased its position 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 valued at $31,000 after purchasing an additional 426 shares during the last quarter. 81.99% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms recently issued reports on SLB. UBS Group dropped their price objective on shares of Schlumberger from $63.00 to $57.00 and set a “buy” rating on the stock in a report on Wednesday, September 18th. BMO Capital Markets reduced their price objective on Schlumberger from $60.00 to $58.00 and set an “outperform” rating for the company in a research note on Thursday, October 10th. Citigroup lowered their target price on Schlumberger from $65.00 to $62.00 and set a “buy” rating on the stock in a research report on Friday, June 28th. Wells Fargo & Company reduced their price target on Schlumberger from $53.00 to $49.00 and set an “equal weight” rating for the company in a research report on Wednesday, September 25th. Finally, TD Cowen lifted their price objective on Schlumberger from $62.00 to $64.00 and gave the company a “buy” rating in a research report on Monday, July 22nd. Two research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $62.97.

Insider Buying and Selling at Schlumberger

In other news, EVP Mogharbel Khaled Al sold 120,668 shares of the business’s stock in a transaction dated Monday, July 22nd. The shares were sold at an average price of $50.19, for a total value of $6,056,326.92. Following the sale, the executive vice president now directly owns 247,699 shares in the company, valued at $12,432,012.81. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, EVP Mogharbel Khaled Al sold 120,668 shares of Schlumberger stock in a transaction that occurred on Monday, July 22nd. The stock was sold at an average price of $50.19, for a total value of $6,056,326.92. Following the completion of the transaction, the executive vice president now owns 247,699 shares in the company, valued at approximately $12,432,012.81. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Vijay Kasibhatla sold 10,000 shares of the stock in a transaction on Monday, July 22nd. The shares were sold at an average price of $49.29, for a total value of $492,900.00. Following the sale, the director now owns 62,354 shares in the company, valued at $3,073,428.66. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 180,716 shares of company stock worth $9,048,624 over the last 90 days. 0.26% of the stock is owned by insiders.

Schlumberger Price Performance

Shares of Schlumberger stock opened at $43.99 on Friday. The company has a current ratio of 1.49, a quick ratio of 1.13 and a debt-to-equity ratio of 0.55. Schlumberger Limited has a 12 month low of $38.66 and a 12 month high of $61.20. The stock has a 50 day moving average of $43.13 and a 200 day moving average of $46.17. The firm has a market cap of $62.46 billion, a PE ratio of 14.38, a PEG ratio of 0.96 and a beta of 1.51.

Schlumberger (NYSE:SLB) last posted its earnings results on Friday, July 19th. The oil and gas company reported $0.85 earnings per share for the quarter, beating analysts’ consensus estimates of $0.83 by $0.02. The firm had revenue of $9.14 billion during the quarter, compared to analyst estimates of $9.08 billion. Schlumberger had a net margin of 12.56% and a return on equity of 21.92%. Schlumberger’s revenue for the quarter was up 12.8% compared to the same quarter last year. During the same period last year, the firm posted $0.72 earnings per share. On average, research analysts expect that Schlumberger Limited will post 3.46 EPS for the current fiscal year.

About Schlumberger

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.