Cim Investment Management Inc. Decreases Stake in Schlumberger Limited (NYSE:SLB)

Cim Investment Management Inc. cut its stake in shares of Schlumberger Limited (NYSE:SLB) by 3.5% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,506 shares of the oil and gas company’s stock after selling 271 shares during the quarter. Cim Investment Management Inc.’s holdings in Schlumberger were worth $315,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the company. Wealth Enhancement Advisory Services LLC raised its stake in shares of Schlumberger by 4.9% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 119,027 shares of the oil and gas company’s stock valued at $5,616,000 after buying an additional 5,580 shares during the last quarter. Blue Trust Inc. raised its position in Schlumberger by 19.9% during the second quarter. Blue Trust Inc. now owns 14,822 shares of the oil and gas company’s stock valued at $699,000 after acquiring an additional 2,457 shares in the last quarter. Gradient Investments LLC raised its position in Schlumberger by 11.8% during the second quarter. Gradient Investments LLC now owns 376,369 shares of the oil and gas company’s stock valued at $17,757,000 after acquiring an additional 39,855 shares in the last quarter. TCW Group Inc. lifted its holdings in Schlumberger by 2.8% in the second quarter. TCW Group Inc. now owns 19,994 shares of the oil and gas company’s stock valued at $943,000 after acquiring an additional 549 shares during the period. Finally, Oakworth Capital Inc. boosted its position in Schlumberger by 32.6% in the 2nd quarter. Oakworth Capital Inc. now owns 1,896 shares of the oil and gas company’s stock worth $89,000 after purchasing an additional 466 shares in the last quarter. 81.99% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Schlumberger

In other Schlumberger news, EVP Abdellah Merad sold 60,000 shares of the stock in a transaction that occurred on Thursday, October 24th. The shares were 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 $8,880,160.30. This represents a 22.06 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.26% of the stock is owned by corporate insiders.

Schlumberger Stock Down 1.1 %

Shares of NYSE SLB opened at $41.10 on Friday. Schlumberger Limited has a 1 year low of $38.66 and a 1 year high of $55.69. The company has a market capitalization of $58.04 billion, a P/E ratio of 13.22, a P/E/G ratio of 1.47 and a beta of 1.51. The company has a 50 day simple moving average of $42.84 and a 200-day simple moving average of $44.05. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.48 and a quick ratio of 1.12.

Schlumberger (NYSE:SLB) last announced its quarterly earnings results 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. The business had revenue of $9.16 billion for 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%. The company’s quarterly revenue was up 10.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.78 EPS. On average, equities research analysts predict that Schlumberger Limited will post 3.39 earnings per share for the current year.

Schlumberger Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 9th. Shareholders of record on Wednesday, December 4th will be given a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a dividend yield of 2.68%. The ex-dividend date of this dividend is Wednesday, December 4th. Schlumberger’s dividend payout ratio is presently 35.37%.

Analyst Ratings Changes

Several research firms recently commented on SLB. Atb Cap Markets lowered shares of Schlumberger from a “strong-buy” rating to a “hold” rating in a research report on Tuesday. Barclays dropped their target price on Schlumberger from $67.00 to $63.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 16th. Sanford C. Bernstein raised Schlumberger to a “strong-buy” rating in a report on Tuesday, November 12th. 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. Finally, UBS Group cut their price objective on Schlumberger from $63.00 to $57.00 and set a “buy” rating for the company in a research report on Wednesday, September 18th. Three analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $60.91.

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.