Pekin Hardy Strauss Inc. Sells 1,500 Shares of Schlumberger Limited (NYSE:SLB)

Pekin Hardy Strauss Inc. decreased its position in Schlumberger Limited (NYSE:SLB) by 3.5% during the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 40,861 shares of the oil and gas company’s stock after selling 1,500 shares during the quarter. Pekin Hardy Strauss Inc.’s holdings in Schlumberger were worth $2,007,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the company. Cibc World Markets Corp increased its position in Schlumberger by 132.6% in the second quarter. Cibc World Markets Corp now owns 167,037 shares of the oil and gas company’s stock worth $8,205,000 after buying an additional 95,220 shares in the last quarter. Farmers & Merchants Investments Inc. increased its position in Schlumberger by 4.1% in the first quarter. Farmers & Merchants Investments Inc. now owns 126,060 shares of the oil and gas company’s stock worth $6,190,000 after buying an additional 4,940 shares in the last quarter. Financial Counselors Inc. increased its position in Schlumberger by 0.8% in the first quarter. Financial Counselors Inc. now owns 226,539 shares of the oil and gas company’s stock worth $11,123,000 after buying an additional 1,862 shares in the last quarter. LaFleur & Godfrey LLC increased its position in Schlumberger by 11.8% in the second quarter. LaFleur & Godfrey LLC now owns 112,793 shares of the oil and gas company’s stock worth $5,540,000 after buying an additional 11,940 shares in the last quarter. Finally, Hanson & Doremus Investment Management increased its position in Schlumberger by 10.3% in the second quarter. Hanson & Doremus Investment Management now owns 53,955 shares of the oil and gas company’s stock worth $2,650,000 after buying an additional 5,045 shares in the last quarter. Institutional investors own 79.43% of the company’s stock.

Insider Activity

In other news, CTO Demosthenis Pafitis sold 60,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 30th. The stock was sold at an average price of $58.83, for a total value of $3,529,800.00. Following the completion of the sale, the chief technology officer now directly owns 36,858 shares of the company’s stock, valued at approximately $2,168,356.14. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director La Chevardiere Patrick De sold 500 shares of the firm’s stock in a transaction that occurred on Tuesday, October 24th. The stock was sold at an average price of $57.76, for a total transaction of $28,880.00. Following the completion of the sale, the director now directly owns 28,810 shares of the company’s stock, valued at approximately $1,664,065.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CTO Demosthenis Pafitis sold 60,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 30th. The stock was sold at an average price of $58.83, for a total value of $3,529,800.00. Following the sale, the chief technology officer now directly owns 36,858 shares of the company’s stock, valued at $2,168,356.14. The disclosure for this sale can be found here. Insiders sold 109,250 shares of company stock valued at $6,441,505 in the last ninety days. Insiders own 0.23% of the company’s stock.

Schlumberger Price Performance

NYSE SLB traded up $0.31 during trading on Thursday, hitting $53.24. 2,582,242 shares of the stock traded hands, compared to its average volume of 9,258,073. The company has a market capitalization of $75.78 billion, a P/E ratio of 18.28, a price-to-earnings-growth ratio of 0.72 and a beta of 1.77. The firm has a 50-day simple moving average of $58.59 and a 200-day simple moving average of $53.82. The company has a quick ratio of 1.02, a current ratio of 1.36 and a debt-to-equity ratio of 0.57. Schlumberger Limited has a 12-month low of $42.73 and a 12-month high of $62.78.

Schlumberger (NYSE:SLB) last released its quarterly earnings results on Friday, October 20th. The oil and gas company reported $0.78 earnings per share for the quarter, beating the consensus estimate of $0.77 by $0.01. The business had revenue of $8.31 billion during the quarter, compared to analysts’ expectations of $8.32 billion. Schlumberger had a return on equity of 21.80% and a net margin of 12.98%. The firm’s revenue for the quarter was up 11.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.63 EPS. As a group, analysts predict that Schlumberger Limited will post 2.97 EPS for the current year.

Schlumberger Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 11th. Stockholders of record on Wednesday, December 6th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.88%. The ex-dividend date is Tuesday, December 5th. Schlumberger’s payout ratio is 34.60%.

Analyst Upgrades and Downgrades

A number of analysts have commented on SLB shares. UBS Group upped their price target on Schlumberger from $72.00 to $73.00 and gave the stock a “buy” rating in a research report on Thursday, August 17th. Susquehanna increased their target price on Schlumberger from $68.00 to $72.00 and gave the stock a “positive” rating in a research report on Thursday, September 7th. Royal Bank of Canada increased their target price on Schlumberger from $60.00 to $62.00 and gave the stock an “outperform” rating in a research report on Thursday, July 20th. Morgan Stanley reiterated an “overweight” rating and set a $62.00 target price on shares of Schlumberger in a research report on Monday, July 24th. Finally, Raymond James increased their target price on Schlumberger from $68.00 to $72.00 and gave the stock an “outperform” rating in a research report on Monday, October 23rd. Two investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $70.36.

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, integration of adjacent energy systems; reservoir interpretation and data processing services for exploration data; and well construction and production improvement services and products.