B. Riley Wealth Advisors Inc. Cuts Holdings in Schlumberger Limited (NYSE:SLB)

B. Riley Wealth Advisors Inc. decreased its position in Schlumberger Limited (NYSE:SLB) by 20.3% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 36,496 shares of the oil and gas company’s stock after selling 9,278 shares during the period. B. Riley Wealth Advisors Inc.’s holdings in Schlumberger were worth $1,596,000 as of its most recent filing with the SEC.

Other hedge funds have also recently modified their holdings of the company. ORG Partners LLC increased its position in shares of Schlumberger by 393.5% during the third quarter. ORG Partners LLC now owns 607 shares of the oil and gas company’s stock valued at $25,000 after acquiring an additional 484 shares during the last quarter. Unique Wealth Strategies LLC bought a new position in Schlumberger in the 2nd quarter valued at $30,000. Prospera Private Wealth LLC purchased a new stake in shares of Schlumberger during the 3rd quarter valued at $29,000. Ashton Thomas Securities LLC bought a new stake in shares of Schlumberger during the 3rd quarter worth $37,000. Finally, Cultivar Capital Inc. purchased a new position in shares of Schlumberger in the 2nd quarter worth about $45,000. Institutional investors own 81.99% of the company’s stock.

Insider Buying and Selling

In other Schlumberger news, EVP Abdellah Merad sold 60,000 shares of the business’s stock in a transaction that occurred on Thursday, October 24th. The shares were sold at an average price of $41.90, for a total value of $2,514,000.00. Following the completion of the transaction, the executive vice president now owns 211,937 shares of the company’s stock, valued at $8,880,160.30. The trade was a 22.06 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.26% of the stock is owned by company insiders.

Schlumberger Stock Performance

NYSE SLB opened at $39.88 on Tuesday. The company’s 50 day simple moving average is $42.62 and its two-hundred day simple moving average is $43.94. The stock has a market capitalization of $56.32 billion, a PE ratio of 12.82, a P/E/G ratio of 1.42 and a beta of 1.51. 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 Limited has a 1 year low of $38.66 and a 1 year high of $55.69.

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

Schlumberger Dividend Announcement

The firm also recently disclosed 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 annualized dividend and a dividend yield of 2.76%. The ex-dividend date of this dividend is Wednesday, December 4th. Schlumberger’s payout ratio is 35.37%.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on SLB. 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. Evercore ISI decreased their price target on shares of Schlumberger from $74.00 to $62.00 and set an “outperform” rating for the company in a research note on Monday, October 21st. JPMorgan Chase & Co. dropped their price objective on Schlumberger from $64.00 to $60.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 1st. TD Cowen reduced their price objective on Schlumberger from $68.00 to $65.00 and set a “buy” rating for the company in a report on Monday, October 21st. Finally, Bank of America dropped their price target on Schlumberger from $58.00 to $54.00 and set a “buy” rating on the stock in a research report on Monday, October 14th. Three research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $60.91.

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.