Kovack Advisors Inc. Has $1.92 Million Stake in Schlumberger Limited (NYSE:SLB)

Kovack Advisors Inc. lowered its stake in shares of Schlumberger Limited (NYSE:SLB) by 25.9% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 45,643 shares of the oil and gas company’s stock after selling 15,954 shares during the quarter. Kovack Advisors Inc.’s holdings in Schlumberger were worth $1,915,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Bruce G. Allen Investments LLC raised its stake in shares of Schlumberger by 204.2% in 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 buying an additional 392 shares in the last quarter. ORG Partners LLC increased its holdings in 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 purchasing an additional 484 shares in the last quarter. Unique Wealth Strategies LLC bought a new position in Schlumberger in the 2nd quarter valued at $30,000. Riverview Trust Co boosted its stake in Schlumberger by 90.6% in the second quarter. Riverview Trust Co now owns 648 shares of the oil and gas company’s stock worth $31,000 after purchasing an additional 308 shares in the last quarter. Finally, First Community Trust NA increased its position in Schlumberger by 264.0% in the 2nd quarter. First Community Trust NA now owns 728 shares of the oil and gas company’s stock valued at $34,000 after acquiring an additional 528 shares in the last quarter. Institutional investors and hedge funds own 81.99% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently commented on SLB. BMO Capital Markets lowered their target price on Schlumberger from $60.00 to $58.00 and set an “outperform” rating for the company in a research note on Thursday, October 10th. Bank of America decreased their price objective on Schlumberger from $58.00 to $54.00 and set a “buy” rating for the company in a research note on Monday, October 14th. UBS Group decreased their target price on Schlumberger from $63.00 to $57.00 and set a “buy” rating for the company in a research report on Wednesday, September 18th. Wells Fargo & Company decreased their target price on Schlumberger from $53.00 to $49.00 and set an “equal weight” rating for the company in a research note on Wednesday, September 25th. Finally, Barclays cut their price target on shares of Schlumberger from $67.00 to $63.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 16th. Two research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $60.97.

Insider Buying and Selling

In other Schlumberger news, EVP Abdellah Merad sold 60,000 shares of the business’s stock in a transaction dated Thursday, October 24th. The shares were sold at an average price of $41.90, for a total value of $2,514,000.00. Following the transaction, the executive vice president now directly owns 211,937 shares in the company, valued at $8,880,160.30. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.26% of the stock is currently owned by company insiders.

Schlumberger Price Performance

Shares of NYSE:SLB traded down $0.95 during trading on Wednesday, hitting $43.38. 2,328,496 shares of the company were exchanged, compared to its average volume of 11,255,361. The company has a market capitalization of $61.26 billion, a P/E ratio of 14.26, a price-to-earnings-growth ratio of 1.56 and a beta of 1.52. Schlumberger Limited has a 1-year low of $38.66 and a 1-year high of $55.69. The company has a quick ratio of 1.12, a current ratio of 1.48 and a debt-to-equity ratio of 0.52. The business’s 50 day moving average is $42.26 and its 200-day moving average is $44.77.

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

Schlumberger Announces Dividend

The firm also recently announced 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. This represents a $1.10 annualized dividend and a dividend yield of 2.54%. The ex-dividend date is Wednesday, December 4th. Schlumberger’s payout ratio is presently 35.37%.

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.