Signaturefd LLC Decreases Stock Position in Schlumberger Limited (NYSE:SLB)

Signaturefd LLC lessened its stake in Schlumberger Limited (NYSE:SLB) by 9.9% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 18,753 shares of the oil and gas company’s stock after selling 2,065 shares during the quarter. Signaturefd LLC’s holdings in Schlumberger were worth $787,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Crescent Grove Advisors LLC purchased a new position in Schlumberger in the 2nd quarter worth approximately $257,000. National Bank of Canada FI raised its position in shares of Schlumberger by 15.0% in the 1st quarter. National Bank of Canada FI now owns 396,382 shares of the oil and gas company’s stock valued at $21,726,000 after purchasing an additional 51,637 shares in the last quarter. Mission Wealth Management LP acquired a new position in shares of Schlumberger in the 1st quarter valued at approximately $245,000. Public Sector Pension Investment Board raised its position in shares of Schlumberger by 0.6% in the 2nd 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, Canada Pension Plan Investment Board raised its position in shares of Schlumberger by 9.0% in the 1st quarter. Canada Pension Plan Investment Board now owns 788,484 shares of the oil and gas company’s stock valued at $43,217,000 after purchasing an additional 64,974 shares in the last quarter. Hedge funds and other institutional investors own 81.99% of the company’s stock.

Insider Transactions at Schlumberger

In other news, EVP Abdellah Merad sold 60,000 shares of the stock in a transaction on Thursday, October 24th. The stock was sold at an average price of $41.90, for a total value of $2,514,000.00. Following the completion of the transaction, the executive vice president now owns 211,937 shares of the company’s stock, valued at approximately $8,880,160.30. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 0.26% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. UBS Group cut their target price on Schlumberger from $63.00 to $57.00 and set a “buy” rating on the stock in a research report on Wednesday, September 18th. TD Cowen cut their target price on Schlumberger from $68.00 to $65.00 and set a “buy” rating on the stock in a research report on Monday. Wells Fargo & Company cut their target price on Schlumberger from $53.00 to $49.00 and set an “equal weight” rating on the stock in a research report on Wednesday, September 25th. Evercore ISI cut their target price on Schlumberger from $74.00 to $62.00 and set an “outperform” rating on the stock in a research report on Monday. Finally, Susquehanna cut their target price on Schlumberger from $60.00 to $56.00 and set a “positive” rating on the stock in a research report on Monday. Two analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $60.97.

Schlumberger Price Performance

Shares of SLB opened at $41.25 on Friday. The company has a market cap of $58.96 billion, a P/E ratio of 13.70, a PEG ratio of 1.48 and a beta of 1.51. The stock has a fifty day moving average price of $43.00 and a 200 day moving average price of $45.75. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.48 and a quick ratio of 1.12. Schlumberger Limited has a 12 month low of $38.66 and a 12 month high of $57.75.

Schlumberger (NYSE:SLB) last issued its quarterly earnings data on Friday, October 18th. The oil and gas company reported $0.89 EPS for the quarter, topping analysts’ consensus estimates of $0.88 by $0.01. The firm 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%. The firm’s revenue was up 10.2% on a year-over-year basis. During the same period in the prior year, the business earned $0.78 EPS. On average, research analysts forecast that Schlumberger Limited will post 3.41 earnings per share for the current year.

Schlumberger Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 9th. Investors of record on Wednesday, December 4th will be paid a dividend of $0.275 per share. The ex-dividend date is Wednesday, December 4th. This represents a $1.10 dividend on an annualized basis and a yield of 2.67%. Schlumberger’s payout ratio is currently 36.54%.

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.