Stonebridge Financial Planning Group LLC Decreases Stock Position in Schlumberger Limited (NYSE:SLB)

Stonebridge Financial Planning Group LLC cut its holdings in shares of Schlumberger Limited (NYSE:SLB) by 11.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,940 shares of the oil and gas company’s stock after selling 900 shares during the period. Stonebridge Financial Planning Group LLC’s holdings in Schlumberger were worth $361,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the business. Exchange Traded Concepts LLC boosted its position in Schlumberger by 3,008.8% in the third quarter. Exchange Traded Concepts LLC now owns 6,031 shares of the oil and gas company’s stock worth $352,000 after purchasing an additional 5,837 shares during the last quarter. Accurate Wealth Management LLC purchased a new position in Schlumberger during the third quarter valued at $228,000. Balboa Wealth Partners bought a new position in shares of Schlumberger in the third quarter worth about $260,000. Cambridge Investment Research Advisors Inc. increased its holdings in Schlumberger by 33.4% in the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 125,099 shares of the oil and gas company’s stock worth $7,293,000 after acquiring an additional 31,303 shares in the last quarter. Finally, Kingswood Wealth Advisors LLC lifted its holdings in Schlumberger by 62.4% during the third quarter. Kingswood Wealth Advisors LLC now owns 15,711 shares of the oil and gas company’s stock valued at $916,000 after purchasing an additional 6,036 shares in the last quarter. Hedge funds and other institutional investors own 81.99% of the company’s stock.

Schlumberger Trading Down 3.5 %

Shares of NYSE SLB opened at $47.48 on Wednesday. Schlumberger Limited has a twelve month low of $42.73 and a twelve month high of $62.12. The company has a quick ratio of 1.02, a current ratio of 1.37 and a debt-to-equity ratio of 0.49. The business has a fifty day simple moving average of $51.73 and a two-hundred day simple moving average of $51.93. The firm has a market cap of $67.87 billion, a PE ratio of 15.77, a price-to-earnings-growth ratio of 0.95 and a beta of 1.60.

Schlumberger (NYSE:SLB) last released its quarterly earnings data on Friday, April 19th. The oil and gas company reported $0.75 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.75. The company had revenue of $8.71 billion during the quarter, compared to analyst estimates of $8.70 billion. Schlumberger had a net margin of 12.72% and a return on equity of 21.88%. The firm’s revenue for the quarter was up 12.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.63 earnings per share. Analysts expect that Schlumberger Limited will post 3.51 earnings per share for the current fiscal year.

Schlumberger Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 11th. Investors of record on Wednesday, June 5th will be issued a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a yield of 2.32%. This is a positive change from Schlumberger’s previous quarterly dividend of $0.25. The ex-dividend date is Wednesday, June 5th. Schlumberger’s dividend payout ratio (DPR) is presently 36.54%.

Analysts Set New Price Targets

SLB has been the subject of several recent analyst reports. Morgan Stanley reaffirmed an “overweight” rating and issued a $65.00 target price on shares of Schlumberger in a report on Monday, April 22nd. Benchmark reiterated a “buy” rating and set a $68.00 price objective on shares of Schlumberger in a research report on Monday, April 22nd. Wells Fargo & Company cut Schlumberger from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $68.00 to $53.00 in a report on Monday. TD Cowen reduced their price objective on Schlumberger from $64.00 to $63.00 and set a “buy” rating on the stock in a research note on Monday, April 22nd. Finally, Stifel Nicolaus restated a “buy” rating and issued a $64.00 price target on shares of Schlumberger in a research report on Monday, April 22nd. Two analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $68.72.

Insider Buying and Selling

In other news, CFO Stephane Biguet sold 6,250 shares of Schlumberger stock in a transaction on Monday, February 26th. The stock was sold at an average price of $48.64, for a total value of $304,000.00. Following the transaction, the chief financial officer now directly owns 242,932 shares in the company, valued at approximately $11,816,212.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, insider Gavin Rennick sold 20,045 shares of Schlumberger stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $48.77, for a total value of $977,594.65. Following the completion of the sale, the insider now directly owns 77,563 shares in the company, valued at approximately $3,782,747.51. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Stephane Biguet sold 6,250 shares of the firm’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $48.64, for a total transaction of $304,000.00. Following the completion of the transaction, the chief financial officer now directly owns 242,932 shares of the company’s stock, valued at approximately $11,816,212.48. The disclosure for this sale can be found here. Insiders sold 76,295 shares of company stock valued at $3,707,595 over the last 90 days. Corporate insiders own 0.26% of the company’s stock.

Schlumberger 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.