Miracle Mile Advisors LLC Sells 107,303 Shares of Schlumberger Limited (NYSE:SLB)

Miracle Mile Advisors LLC lowered its stake in shares of Schlumberger Limited (NYSE:SLBFree Report) by 94.1% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 6,673 shares of the oil and gas company’s stock after selling 107,303 shares during the period. Miracle Mile Advisors LLC’s holdings in Schlumberger were worth $256,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of SLB. Oppenheimer Asset Management Inc. lifted its stake in Schlumberger by 50.7% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 6,133 shares of the oil and gas company’s stock valued at $289,000 after acquiring an additional 2,063 shares in the last quarter. Envestnet Asset Management Inc. lifted its position in shares of Schlumberger by 10.4% during the second quarter. Envestnet Asset Management Inc. now owns 927,875 shares of the oil and gas company’s stock valued at $43,777,000 after purchasing an additional 87,236 shares in the last quarter. Wealth Alliance purchased a new position in Schlumberger during the second quarter worth about $202,000. Seven Eight Capital LP bought a new stake in Schlumberger in the 2nd quarter worth about $385,000. Finally, Carolinas Wealth Consulting LLC increased its stake in Schlumberger by 19.9% in the 2nd quarter. Carolinas Wealth Consulting LLC now owns 1,783 shares of the oil and gas company’s stock valued at $84,000 after buying an additional 296 shares during the last quarter. 81.99% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the company. BMO Capital Markets cut their target price on Schlumberger from $53.00 to $48.00 in a research note on Thursday. Jefferies Financial Group cut their price objective on Schlumberger from $64.00 to $61.00 and set a “buy” rating on the stock in a research report on Friday, January 3rd. Griffin Securities lowered Schlumberger from a “buy” rating to a “neutral” rating in a research report on Friday, December 20th. Royal Bank of Canada reissued an “outperform” rating and issued a $69.00 price target on shares of Schlumberger in a report on Thursday, October 3rd. Finally, Citigroup decreased their price objective on shares of Schlumberger from $53.00 to $50.00 and set a “buy” rating for the company in a report on Thursday, December 19th. Six investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $56.03.

Get Our Latest Analysis on Schlumberger

Schlumberger Stock Up 1.3 %

Shares of NYSE SLB opened at $41.16 on Friday. The business has a 50-day simple moving average of $40.89 and a two-hundred day simple moving average of $42.93. Schlumberger Limited has a 52 week low of $36.52 and a 52 week high of $55.69. The company has a market cap of $58.13 billion, a P/E ratio of 13.24, a P/E/G ratio of 1.35 and a beta of 1.52. The company has a quick ratio of 1.12, a current ratio of 1.48 and a debt-to-equity ratio of 0.52.

Schlumberger (NYSE:SLBGet Free Report) last issued 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 net margin of 12.44% and a return on equity of 21.84%. The company had revenue of $9.16 billion during the quarter, compared to analysts’ expectations of $9.27 billion. During the same quarter in the previous year, the company earned $0.78 earnings per share. Schlumberger’s revenue for the quarter was up 10.2% on a year-over-year basis. Research analysts anticipate that Schlumberger Limited will post 3.39 earnings per share for the current fiscal year.

Insider Buying and Selling at Schlumberger

In other news, EVP Abdellah Merad sold 60,000 shares of the company’s stock in a transaction on 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 owns 211,937 shares of the company’s stock, valued at approximately $8,880,160.30. This represents a 22.06 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.26% of the company’s stock.

Schlumberger Profile

(Free Report)

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.

Featured Stories

Want to see what other hedge funds are holding SLB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Schlumberger Limited (NYSE:SLBFree Report).

Institutional Ownership by Quarter for Schlumberger (NYSE:SLB)

Receive News & Ratings for Schlumberger Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Schlumberger and related companies with MarketBeat.com's FREE daily email newsletter.