Schlumberger Limited (NYSE:SLB) Stake Lowered by J.W. Cole Advisors Inc.

J.W. Cole Advisors Inc. reduced its stake in shares of Schlumberger Limited (NYSE:SLBGet Rating) by 6.3% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 10,936 shares of the oil and gas company’s stock after selling 737 shares during the period. J.W. Cole Advisors Inc.’s holdings in Schlumberger were worth $452,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Sugarloaf Wealth Management LLC lifted its stake in shares of Schlumberger by 1,059.6% in the 1st quarter. Sugarloaf Wealth Management LLC now owns 603 shares of the oil and gas company’s stock valued at $25,000 after purchasing an additional 551 shares during the last quarter. Acadian Asset Management LLC acquired a new stake in shares of Schlumberger in the 1st quarter valued at $25,000. JFS Wealth Advisors LLC lifted its stake in shares of Schlumberger by 95.6% in the 1st quarter. JFS Wealth Advisors LLC now owns 618 shares of the oil and gas company’s stock valued at $26,000 after purchasing an additional 302 shares during the last quarter. WD Rutherford LLC acquired a new stake in shares of Schlumberger in the 1st quarter valued at $26,000. Finally, Crewe Advisors LLC lifted its stake in shares of Schlumberger by 768.4% in the 1st quarter. Crewe Advisors LLC now owns 660 shares of the oil and gas company’s stock valued at $27,000 after purchasing an additional 584 shares during the last quarter. 78.71% of the stock is currently owned by hedge funds and other institutional investors.

Schlumberger Stock Performance

NYSE SLB opened at $38.97 on Tuesday. The stock has a market cap of $55.12 billion, a P/E ratio of 21.18, a PEG ratio of 0.49 and a beta of 1.81. The company’s 50-day simple moving average is $36.50 and its 200 day simple moving average is $39.55. Schlumberger Limited has a twelve month low of $26.64 and a twelve month high of $49.83. The company has a quick ratio of 0.98, a current ratio of 1.35 and a debt-to-equity ratio of 0.78.

Schlumberger (NYSE:SLBGet Rating) last released its quarterly earnings results on Friday, July 22nd. The oil and gas company reported $0.50 EPS for the quarter, beating the consensus estimate of $0.40 by $0.10. Schlumberger had a net margin of 10.56% and a return on equity of 15.06%. The business had revenue of $6.77 billion for the quarter, compared to analysts’ expectations of $6.28 billion. During the same period in the prior year, the firm earned $0.30 earnings per share. Schlumberger’s revenue was up 20.2% compared to the same quarter last year. As a group, research analysts forecast that Schlumberger Limited will post 2.02 earnings per share for the current fiscal year.

Schlumberger Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 13th. Stockholders of record on Wednesday, September 7th will be paid a dividend of $0.175 per share. The ex-dividend date is Tuesday, September 6th. This represents a $0.70 annualized dividend and a dividend yield of 1.80%. Schlumberger’s dividend payout ratio (DPR) is currently 38.04%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on SLB shares. StockNews.com lowered shares of Schlumberger from a “buy” rating to a “hold” rating in a research report on Friday, August 19th. Benchmark raised shares of Schlumberger from a “hold” rating to a “buy” rating and set a $55.00 target price for the company in a research report on Wednesday, July 27th. Barclays boosted their target price on shares of Schlumberger from $55.00 to $59.00 and gave the stock an “overweight” rating in a research report on Wednesday, June 8th. The Goldman Sachs Group cut their target price on shares of Schlumberger from $54.00 to $45.00 and set a “buy” rating for the company in a research report on Wednesday, July 13th. Finally, Cowen boosted their target price on shares of Schlumberger from $47.00 to $49.00 and gave the stock an “outperform” rating in a research report on Monday, July 25th. One analyst has rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $47.01.

Schlumberger Company Profile

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Schlumberger Limited provides technology for the energy industry worldwide. The company operates through four divisions: Digital & Integration, Reservoir Performance, Well Construction, and Production Systems. It offers software, information management, and IT infrastructure services; consulting services for reservoir characterization, field development planning, and production enhancement; petro technical data services and training solutions; reservoir interpretation and data processing services; asset performance solutions; open and cased-hole services; exploration and production pressure and flow-rate measurement services; pressure pumping, well stimulation, and coiled tubing equipment for downhole mechanical well intervention, reservoir monitoring, and downhole data acquisition; and integrated production systems.

Further Reading

Institutional Ownership by Quarter for Schlumberger (NYSE:SLB)

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