Focused Wealth Management Inc trimmed its position in Schlumberger Limited. (NYSE:SLB) by 23.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 9,320 shares of the oil and gas company’s stock after selling 2,800 shares during the quarter. Focused Wealth Management Inc’s holdings in Schlumberger were worth $568,000 as of its most recent SEC filing.
Several other large investors have also recently made changes to their positions in the company. Mainstay Capital Management LLC ADV raised its position in Schlumberger by 3,884.1% during the second quarter. Mainstay Capital Management LLC ADV now owns 6,773 shares of the oil and gas company’s stock valued at $105,000 after acquiring an additional 6,603 shares in the last quarter. Zions Bancorporation purchased a new position in Schlumberger during the third quarter valued at approximately $131,000. Truvestments Capital LLC purchased a new position in Schlumberger during the third quarter valued at approximately $132,000. Whitener Capital Management Inc. purchased a new position in Schlumberger during the third quarter valued at approximately $137,000. Finally, Moneta Group Investment Advisors LLC raised its position in Schlumberger by 909.1% during the second quarter. Moneta Group Investment Advisors LLC now owns 22,352 shares of the oil and gas company’s stock valued at $138,000 after acquiring an additional 20,137 shares in the last quarter. Hedge funds and other institutional investors own 77.71% of the company’s stock.
SLB has been the subject of several recent research reports. Citigroup reduced their price target on Schlumberger from $77.00 to $72.00 and set a “buy” rating for the company in a research report on Monday, October 22nd. HSBC upgraded Schlumberger from a “hold” rating to a “buy” rating in a research report on Monday, November 26th. Morgan Stanley initiated coverage on Schlumberger in a research report on Tuesday, September 18th. They set an “equal weight” rating and a $72.00 price target for the company. Credit Suisse Group reduced their price target on Schlumberger from $82.00 to $71.00 and set an “outperform” rating for the company in a research report on Monday, October 22nd. Finally, Bank of America assumed coverage on Schlumberger in a research report on Wednesday, October 17th. They issued a “buy” rating for the company. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and sixteen have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $71.05.
Shares of NYSE:SLB traded down $0.50 during trading on Friday, reaching $35.70. The stock had a trading volume of 30,587,235 shares, compared to its average volume of 8,858,021. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.13 and a quick ratio of 0.85. The firm has a market capitalization of $52.33 billion, a PE ratio of 23.80, a P/E/G ratio of 3.82 and a beta of 1.04. Schlumberger Limited. has a 1-year low of $35.23 and a 1-year high of $80.35.
Schlumberger (NYSE:SLB) last issued its quarterly earnings results on Friday, October 19th. The oil and gas company reported $0.46 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.45 by $0.01. The firm had revenue of $8.50 billion for the quarter, compared to analyst estimates of $8.57 billion. Schlumberger had a positive return on equity of 6.55% and a negative net margin of 2.00%. The business’s revenue was up 7.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.42 earnings per share. As a group, analysts expect that Schlumberger Limited. will post 1.65 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 2nd. Stockholders of record on Wednesday, December 5th will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 5.60%. The ex-dividend date of this dividend is Tuesday, December 4th. Schlumberger’s dividend payout ratio is presently 133.33%.
In other news, EVP Patrick Schorn purchased 10,000 shares of the stock in a transaction dated Thursday, December 20th. The shares were purchased at an average cost of $37.55 per share, with a total value of $375,500.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Simon Ayat sold 60,000 shares of Schlumberger stock in a transaction that occurred on Tuesday, October 30th. The stock was sold at an average price of $56.60, for a total value of $3,396,000.00. Following the completion of the sale, the chief financial officer now directly owns 234,008 shares in the company, valued at $13,244,852.80. The disclosure for this sale can be found here. Insiders own 0.48% of the company’s stock.
TRADEMARK VIOLATION WARNING: This piece was published by Fairfield Current and is the sole property of of Fairfield Current. If you are accessing this piece on another publication, it was illegally stolen and reposted in violation of US & international copyright and trademark legislation. The correct version of this piece can be read at https://www.fairfieldcurrent.com/news/2018/12/21/focused-wealth-management-inc-sells-2800-shares-of-schlumberger-limited-slb.html.
Schlumberger Limited supplies technology products and services to the oil and gas exploration and production industry worldwide. The company’s Reservoir Characterization Group segment provides reservoir interpretation and data processing services; open and cased-hole services; slickline services; exploration and production pressure and flow-rate measurement services at the surface and downhole; software integrated solutions, such as software, consulting, information management, and IT infrastructure services; consulting services for reservoir characterization, field development planning, and production enhancement; and petrotechnical data services and training solutions, as well as integrated management services.
Recommended Story: Does the discount rate affect the economy?
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.