Summit Trail Advisors LLC Cuts Stock Holdings in Schlumberger Limited (NYSE:SLB)

Summit Trail Advisors LLC lowered its stake in Schlumberger Limited (NYSE:SLB) by 6.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 15,391 shares of the oil and gas company’s stock after selling 990 shares during the period. Summit Trail Advisors LLC’s holdings in Schlumberger were worth $650,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Financial Advocates Investment Management boosted its stake in shares of Schlumberger by 3.4% during the second quarter. Financial Advocates Investment Management now owns 6,558 shares of the oil and gas company’s stock valued at $309,000 after purchasing an additional 218 shares during the period. Chilton Capital Management LLC boosted its position in Schlumberger by 0.8% during the 2nd quarter. Chilton Capital Management LLC now owns 26,202 shares of the oil and gas company’s stock valued at $1,236,000 after buying an additional 219 shares during the period. Grove Bank & Trust grew its holdings in Schlumberger by 17.4% in the 3rd quarter. Grove Bank & Trust now owns 1,514 shares of the oil and gas company’s stock worth $64,000 after acquiring an additional 224 shares during the last quarter. First PREMIER Bank increased its position in shares of Schlumberger by 8.7% in the second quarter. First PREMIER Bank now owns 2,842 shares of the oil and gas company’s stock valued at $134,000 after acquiring an additional 227 shares during the period. Finally, Addison Advisors LLC raised its stake in shares of Schlumberger by 6.5% during the second quarter. Addison Advisors LLC now owns 3,794 shares of the oil and gas company’s stock valued at $179,000 after acquiring an additional 233 shares during the last quarter. Institutional investors own 81.99% of the company’s stock.

Schlumberger Stock Down 1.0 %

Shares of NYSE:SLB opened at $43.77 on Tuesday. The company has a current ratio of 1.48, a quick ratio of 1.12 and a debt-to-equity ratio of 0.52. The stock has a fifty day simple moving average of $42.85 and a two-hundred day simple moving average of $44.49. Schlumberger Limited has a 12-month low of $38.66 and a 12-month high of $55.69. The stock has a market capitalization of $61.81 billion, a price-to-earnings ratio of 14.07, a PEG ratio of 1.56 and a beta of 1.52.

Schlumberger (NYSE:SLB) last posted its quarterly earnings results on Friday, October 18th. The oil and gas company reported $0.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.88 by $0.01. The firm had revenue of $9.16 billion during the quarter, compared to analyst estimates of $9.27 billion. Schlumberger had a return on equity of 21.84% and a net margin of 12.44%. Schlumberger’s quarterly revenue was up 10.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.78 EPS. On average, research analysts anticipate that Schlumberger Limited will post 3.39 earnings per share for the current fiscal year.

Schlumberger Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 9th. Stockholders of record on Wednesday, December 4th will be issued a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a dividend yield of 2.51%. The ex-dividend date is Wednesday, December 4th. Schlumberger’s payout ratio is 35.37%.

Insider Activity at Schlumberger

In other Schlumberger news, EVP Abdellah Merad sold 60,000 shares of the stock in a transaction on Thursday, October 24th. The stock was sold at an average price of $41.90, for a total transaction of $2,514,000.00. Following the sale, the executive vice president now directly owns 211,937 shares in the company, valued at approximately $8,880,160.30. This trade represents a 22.06 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.26% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research firms recently issued reports on SLB. Bank of America cut their target price on Schlumberger from $58.00 to $54.00 and set a “buy” rating on the stock in a research note on Monday, October 14th. Sanford C. Bernstein raised Schlumberger to a “strong-buy” rating in a research note on Tuesday, November 12th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $69.00 price target on shares of Schlumberger in a research note on Thursday, October 3rd. BMO Capital Markets cut their price target on shares of Schlumberger from $60.00 to $58.00 and set an “outperform” rating on the stock in a report on Thursday, October 10th. Finally, Morgan Stanley decreased their price objective on shares of Schlumberger from $65.00 to $60.00 and set an “overweight” rating for the company in a report on Monday, September 16th. Two equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $60.97.

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.