Worth Financial Advisory Group LLC Has $512,000 Holdings in Schlumberger Limited (NYSE:SLB)

Worth Financial Advisory Group LLC raised its position in Schlumberger Limited (NYSE:SLB) by 10.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 12,194 shares of the oil and gas company’s stock after purchasing an additional 1,187 shares during the quarter. Worth Financial Advisory Group LLC’s holdings in Schlumberger were worth $512,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Wealthcare Advisory Partners LLC increased its position in shares of Schlumberger by 15.4% in the first quarter. Wealthcare Advisory Partners LLC now owns 7,242 shares of the oil and gas company’s stock valued at $397,000 after acquiring an additional 965 shares during the last quarter. LVW Advisors LLC acquired a new position in Schlumberger during the first quarter worth approximately $203,000. Cullinan Associates Inc. increased its position in Schlumberger by 11.4% during the first quarter. Cullinan Associates Inc. now owns 30,200 shares of the oil and gas company’s stock worth $1,655,000 after buying an additional 3,100 shares during the last quarter. Olstein Capital Management L.P. increased its position in Schlumberger by 10.4% during the first quarter. Olstein Capital Management L.P. now owns 149,000 shares of the oil and gas company’s stock worth $8,167,000 after buying an additional 14,000 shares during the last quarter. Finally, State of Alaska Department of Revenue increased its position in Schlumberger by 0.4% during the first quarter. State of Alaska Department of Revenue now owns 154,854 shares of the oil and gas company’s stock worth $8,487,000 after buying an additional 630 shares during the last quarter. Institutional investors and hedge funds own 81.99% of the company’s stock.

Schlumberger Stock Down 0.8 %

Shares of SLB opened at $41.39 on Tuesday. Schlumberger Limited has a 52 week low of $38.66 and a 52 week high of $57.75. The stock has a market capitalization of $59.16 billion, a price-to-earnings ratio of 13.75, a PEG ratio of 1.47 and a beta of 1.51. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.12 and a current ratio of 1.48. The stock has a fifty day moving average of $42.78 and a 200-day moving average of $45.43.

Schlumberger (NYSE:SLB) last posted its quarterly earnings data on Friday, October 18th. The oil and gas company reported $0.89 earnings per share for the quarter, beating analysts’ consensus estimates of $0.88 by $0.01. The business had revenue of $9.16 billion during the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same period in the prior year, the business posted $0.78 earnings per share. As a group, sell-side analysts anticipate that Schlumberger Limited will post 3.4 earnings per share for the current fiscal year.

Schlumberger Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 9th. Investors of record on Wednesday, December 4th will be issued a $0.275 dividend. The ex-dividend date is Wednesday, December 4th. This represents a $1.10 dividend on an annualized basis and a yield of 2.66%. Schlumberger’s payout ratio is 36.54%.

Insider Activity at Schlumberger

In other Schlumberger news, EVP Abdellah Merad sold 60,000 shares of the stock in a transaction dated 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 completion of 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 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.26% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of brokerages have weighed in on SLB. Susquehanna lowered their price target on Schlumberger from $60.00 to $56.00 and set a “positive” rating on the stock in a research report on Monday, October 21st. Citigroup decreased their target price on Schlumberger from $60.00 to $54.00 and set a “buy” rating on the stock in a research report on Tuesday, October 22nd. Wells Fargo & Company decreased their target price on Schlumberger from $53.00 to $49.00 and set an “equal weight” rating on the stock in a research report on Wednesday, September 25th. Benchmark reaffirmed a “buy” rating and issued a $68.00 target price on shares of Schlumberger in a research report on Monday, July 22nd. Finally, BMO Capital Markets cut their price target on Schlumberger from $60.00 to $58.00 and set an “outperform” rating for the company in a research note on Thursday, October 10th. Two equities research 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 company has an average rating of “Moderate Buy” and an average target price of $60.97.

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