Schlumberger Limited (NYSE:SLB) Shares Sold by First Trust Direct Indexing L.P.

First Trust Direct Indexing L.P. trimmed its holdings in shares of Schlumberger Limited (NYSE:SLB) by 7.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 38,502 shares of the oil and gas company’s stock after selling 2,920 shares during the period. First Trust Direct Indexing L.P.’s holdings in Schlumberger were worth $1,615,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Financial Advocates Investment Management increased its holdings in Schlumberger by 3.4% in the 2nd quarter. Financial Advocates Investment Management now owns 6,558 shares of the oil and gas company’s stock worth $309,000 after acquiring an additional 218 shares in the last quarter. Chilton Capital Management LLC increased its holdings in Schlumberger by 0.8% in the 2nd quarter. Chilton Capital Management LLC now owns 26,202 shares of the oil and gas company’s stock worth $1,236,000 after acquiring an additional 219 shares in the last quarter. Grove Bank & Trust increased its holdings in Schlumberger by 17.4% in the 3rd quarter. Grove Bank & Trust now owns 1,514 shares of the oil and gas company’s stock worth $64,000 after acquiring an additional 224 shares in the last quarter. First PREMIER Bank increased its holdings in Schlumberger by 8.7% in the 2nd quarter. First PREMIER Bank now owns 2,842 shares of the oil and gas company’s stock worth $134,000 after acquiring an additional 227 shares in the last quarter. Finally, Team Hewins LLC increased its holdings in Schlumberger by 3.0% in the 1st quarter. Team Hewins LLC now owns 7,924 shares of the oil and gas company’s stock worth $436,000 after acquiring an additional 229 shares in the last quarter. 81.99% of the stock is currently owned by institutional investors and hedge funds.

Schlumberger Trading Down 0.2 %

NYSE SLB opened at $40.08 on Friday. The firm’s 50-day moving average is $42.55 and its two-hundred day moving average is $45.27. Schlumberger Limited has a 12 month low of $38.66 and a 12 month high of $57.75. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.48 and a quick ratio of 1.12. The stock has a market capitalization of $57.29 billion, a P/E ratio of 13.32, a PEG ratio of 1.47 and a beta of 1.51.

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

Schlumberger Dividend Announcement

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

Insider Transactions at Schlumberger

In other news, EVP Abdellah Merad sold 60,000 shares of the stock in a transaction dated Thursday, October 24th. The shares were sold at an average price of $41.90, for a total transaction of $2,514,000.00. Following the sale, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.26% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on SLB shares. Bank of America cut their price target on shares of Schlumberger from $58.00 to $54.00 and set a “buy” rating for the company in a report on Monday, October 14th. Citigroup dropped their target price on shares of Schlumberger from $60.00 to $54.00 and set a “buy” rating for the company in a report on Tuesday, October 22nd. Dbs Bank assumed coverage on shares of Schlumberger in a report on Wednesday, September 18th. They set a “buy” rating and a $64.50 target price for the company. Benchmark reaffirmed a “buy” rating and set a $68.00 target price on shares of Schlumberger in a report on Monday, July 22nd. Finally, Susquehanna dropped their target price on shares of Schlumberger from $60.00 to $56.00 and set a “positive” rating for the company in a report on Monday, October 21st. Two investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $60.97.

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.