J.W. Cole Advisors Inc. Sells 1,220 Shares of Schlumberger Limited (NYSE:SLB)

J.W. Cole Advisors Inc. cut its position in Schlumberger Limited (NYSE:SLB) by 7.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,306 shares of the oil and gas company’s stock after selling 1,220 shares during the quarter. J.W. Cole Advisors Inc.’s holdings in Schlumberger were worth $600,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. ORG Partners LLC raised its stake in shares of Schlumberger by 393.5% in the third 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. Bruce G. Allen Investments LLC raised 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 valued at $28,000 after purchasing an additional 392 shares during the period. Unique Wealth Strategies LLC bought a new stake in shares of Schlumberger during the 2nd quarter valued at $30,000. Manchester Capital Management LLC raised 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 valued at $31,000 after purchasing an additional 426 shares during the period. Finally, Riverview Trust Co raised its stake in shares of Schlumberger by 90.6% during the 2nd quarter. Riverview Trust Co now owns 648 shares of the oil and gas company’s stock valued at $31,000 after purchasing an additional 308 shares during the period. 81.99% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms recently issued reports on SLB. TD Cowen decreased their price objective on Schlumberger from $68.00 to $65.00 and set a “buy” rating on the stock in a research note on Monday, October 21st. UBS Group decreased their price objective on Schlumberger from $63.00 to $57.00 and set a “buy” rating on the stock in a research note on Wednesday, September 18th. Stifel Nicolaus reiterated a “buy” rating and set a $60.00 price objective (down from $62.00) on shares of Schlumberger in a research note on Monday, October 21st. Morgan Stanley reduced their target price on Schlumberger from $65.00 to $60.00 and set an “overweight” rating for the company in a research report on Monday, September 16th. Finally, JPMorgan Chase & Co. reduced their target price on Schlumberger from $64.00 to $60.00 and set an “overweight” rating for the company in a research report on Tuesday, October 1st. Two investment 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 presently has an average rating of “Moderate Buy” and an average target price of $60.97.

Schlumberger Price Performance

SLB opened at $40.16 on Thursday. The stock has a 50-day moving average price of $42.63 and a 200-day moving average price of $45.31. Schlumberger Limited has a 12-month low of $38.66 and a 12-month high of $57.75. The company has a current ratio of 1.48, a quick ratio of 1.12 and a debt-to-equity ratio of 0.52. The stock has a market capitalization of $57.40 billion, a P/E ratio of 13.34, a PEG ratio of 1.47 and a beta of 1.51.

Schlumberger (NYSE:SLB) last issued its earnings results on Friday, October 18th. The oil and gas company reported $0.89 earnings per share for the quarter, beating the consensus estimate of $0.88 by $0.01. The company had revenue of $9.16 billion during the quarter, compared to analysts’ expectations of $9.27 billion. Schlumberger had a return on equity of 21.84% and a net margin of 12.44%. Schlumberger’s quarterly revenue was up 10.2% compared to the same quarter last year. During the same period in the prior year, the business posted $0.78 EPS. Equities analysts predict that Schlumberger Limited will post 3.4 earnings per share for the current fiscal year.

Schlumberger Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 9th. Shareholders of record on Wednesday, December 4th will be given a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a yield of 2.74%. The ex-dividend date is Wednesday, December 4th. Schlumberger’s payout ratio is 36.54%.

Insider Buying and Selling at Schlumberger

In other Schlumberger news, EVP Abdellah Merad sold 60,000 shares of the company’s stock in a transaction that occurred on Thursday, October 24th. The stock was sold at an average price of $41.90, for a total transaction 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 $8,880,160.30. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.26% of the stock is currently owned by corporate insiders.

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.