Fragasso Financial Advisors Inc Trims Stock Position in Schlumberger Limited (NYSE:SLB)

Fragasso Financial Advisors Inc lowered its holdings in shares of Schlumberger Limited (NYSE:SLB) by 5.6% in the 4th quarter, Holdings Channel.com reports. The firm owned 94,938 shares of the oil and gas company’s stock after selling 5,581 shares during the quarter. Fragasso Financial Advisors Inc’s holdings in Schlumberger were worth $3,640,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. CHICAGO TRUST Co NA increased its holdings in Schlumberger by 1.6% in the 4th quarter. CHICAGO TRUST Co NA now owns 39,903 shares of the oil and gas company’s stock worth $1,530,000 after acquiring an additional 625 shares in the last quarter. City Center Advisors LLC increased its holdings in Schlumberger by 22.4% in the 4th quarter. City Center Advisors LLC now owns 10,359 shares of the oil and gas company’s stock worth $397,000 after acquiring an additional 1,899 shares in the last quarter. Clark & Stuart Inc purchased a new stake in Schlumberger in the 4th quarter worth approximately $3,772,000. Czech National Bank increased its holdings in Schlumberger by 5.8% in the 4th quarter. Czech National Bank now owns 306,183 shares of the oil and gas company’s stock worth $11,739,000 after acquiring an additional 16,914 shares in the last quarter. Finally, Harbor Capital Advisors Inc. increased its holdings in Schlumberger by 2.5% in the 4th quarter. Harbor Capital Advisors Inc. now owns 32,238 shares of the oil and gas company’s stock worth $1,236,000 after acquiring an additional 790 shares in the last quarter. Hedge funds and other institutional investors own 81.99% of the company’s stock.

Insiders Place Their Bets

In related 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 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. The trade was a 22.06 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.26% of the company’s stock.

Schlumberger Stock Up 3.2 %

NYSE:SLB traded up $1.25 during mid-day trading on Monday, hitting $39.87. The stock had a trading volume of 7,514,542 shares, compared to its average volume of 10,477,002. The company has a current ratio of 1.48, a quick ratio of 1.12 and a debt-to-equity ratio of 0.52. Schlumberger Limited has a twelve month low of $36.52 and a twelve month high of $55.69. The stock has a 50-day simple moving average of $40.97 and a two-hundred day simple moving average of $43.05. The company has a market capitalization of $56.30 billion, a PE ratio of 12.82, a PEG ratio of 1.42 and a beta of 1.52.

Schlumberger (NYSE:SLB) last announced its earnings results on Friday, October 18th. The oil and gas company reported $0.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.88 by $0.01. Schlumberger had a net margin of 12.44% and a return on equity of 21.84%. The business had revenue of $9.16 billion for the quarter, compared to analyst estimates of $9.27 billion. During the same period last year, the firm posted $0.78 earnings per share. The company’s revenue for the quarter was up 10.2% compared to the same quarter last year. On average, equities research analysts anticipate that Schlumberger Limited will post 3.39 EPS for the current year.

Schlumberger Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, January 9th. Shareholders of record on Wednesday, December 4th were given a dividend of $0.275 per share. The ex-dividend date of this dividend was Wednesday, December 4th. This represents a $1.10 annualized dividend and a dividend yield of 2.76%. Schlumberger’s payout ratio is currently 35.37%.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on SLB shares. Barclays reduced their target price on shares of Schlumberger from $61.00 to $53.00 and set an “overweight” rating for the company in a report on Wednesday, December 18th. Griffin Securities lowered shares of Schlumberger from a “buy” rating to a “neutral” rating in a report on Friday, December 20th. TD Cowen cut their price objective on shares of Schlumberger from $65.00 to $53.00 and set a “buy” rating for the company in a report on Wednesday, January 8th. BMO Capital Markets cut their price objective on shares of Schlumberger from $60.00 to $58.00 and set an “outperform” rating for the company in a report on Thursday, October 10th. Finally, Stifel Nicolaus cut their price objective on shares of Schlumberger from $60.00 to $59.00 and set a “buy” rating for the company in a report on Monday, December 23rd. Five investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $57.58.

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.