MAI Capital Management Reduces Holdings in Schlumberger Limited (NYSE:SLB)

MAI Capital Management lessened its position in shares of Schlumberger Limited (NYSE:SLB) by 1.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 66,012 shares of the oil and gas company’s stock after selling 816 shares during the period. MAI Capital Management’s holdings in Schlumberger were worth $2,769,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. ORG Partners LLC lifted its position 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 last quarter. Bruce G. Allen Investments LLC lifted its position 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 buying an additional 392 shares during the last quarter. Unique Wealth Strategies LLC purchased a new stake in Schlumberger during the 2nd quarter worth about $30,000. Riverview Trust Co lifted its holdings in Schlumberger by 90.6% during the 2nd 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 lifted its holdings in Schlumberger by 264.0% during the 2nd quarter. First Community Trust NA now owns 728 shares of the oil and gas company’s stock worth $34,000 after purchasing an additional 528 shares in the last quarter. Hedge funds and other institutional investors own 81.99% of the company’s stock.

Schlumberger Price Performance

Shares of Schlumberger stock opened at $43.10 on Wednesday. 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 firm has a market capitalization of $60.86 billion, a PE ratio of 13.86, a price-to-earnings-growth ratio of 1.52 and a beta of 1.52. The business’s 50-day moving average price is $42.53 and its 200-day moving average price is $44.61. Schlumberger Limited has a 12 month low of $38.66 and a 12 month high of $55.69.

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

Schlumberger Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 9th. Investors of record on Wednesday, December 4th will be given a dividend of $0.275 per share. The ex-dividend date of this dividend is Wednesday, December 4th. This represents a $1.10 annualized dividend and a yield of 2.55%. Schlumberger’s payout ratio is 35.37%.

Insider Buying and Selling

In related news, EVP Abdellah Merad sold 60,000 shares of the firm’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 transaction, the executive vice president now directly owns 211,937 shares in the company, valued at $8,880,160.30. This trade represents a 22.06 % decrease in their position. 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 owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on SLB shares. Barclays dropped their price objective on Schlumberger from $67.00 to $63.00 and set an “overweight” rating on the stock in a report on Wednesday, October 16th. Citigroup dropped their price objective on Schlumberger from $60.00 to $54.00 and set a “buy” rating on the stock in a report on Tuesday, October 22nd. Royal Bank of Canada reissued an “outperform” rating and set a $69.00 price objective on shares of Schlumberger in a report on Thursday, October 3rd. Dbs Bank started coverage on Schlumberger in a report on Wednesday, September 18th. They set a “buy” rating and a $64.50 price objective on the stock. Finally, TD Cowen dropped their price objective on Schlumberger from $68.00 to $65.00 and set a “buy” rating on the stock in a report on Monday, October 21st. Two equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target 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.