Waldron Private Wealth LLC Has $1.62 Million Stock Holdings in Schlumberger Limited (NYSE:SLB)

Waldron Private Wealth LLC trimmed its stake in Schlumberger Limited (NYSE:SLB) by 2.0% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 38,722 shares of the oil and gas company’s stock after selling 783 shares during the quarter. Waldron Private Wealth LLC’s holdings in Schlumberger were worth $1,624,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Leo Wealth LLC raised its holdings in shares of Schlumberger by 15.1% during the 3rd quarter. Leo Wealth LLC now owns 17,652 shares of the oil and gas company’s stock worth $741,000 after buying an additional 2,319 shares in the last quarter. Eastern Bank bought a new stake in shares of Schlumberger during the 3rd quarter valued at about $554,000. Sequoia Financial Advisors LLC raised its stake in Schlumberger by 2.0% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 474,837 shares of the oil and gas company’s stock worth $19,919,000 after buying an additional 9,381 shares during the period. Foundations Investment Advisors LLC raised its stake in shares of Schlumberger by 4.8% in the third quarter. Foundations Investment Advisors LLC now owns 8,874 shares of the oil and gas company’s stock worth $372,000 after purchasing an additional 409 shares during the last quarter. Finally, Townsend Asset Management Corp NC ADV purchased a new stake in shares of Schlumberger in the third quarter worth approximately $2,063,000. 81.99% of the stock is currently owned by institutional investors.

Schlumberger Stock Down 1.3 %

Shares of SLB stock traded down $0.56 during midday trading on Tuesday, reaching $41.87. 6,664,765 shares of the stock were exchanged, compared to its average volume of 11,083,001. The company has a current ratio of 1.49, a quick ratio of 1.13 and a debt-to-equity ratio of 0.55. The firm has a market cap of $59.45 billion, a PE ratio of 13.54, a price-to-earnings-growth ratio of 1.27 and a beta of 1.51. The company’s 50 day moving average is $43.07 and its two-hundred day moving average is $45.87. Schlumberger Limited has a 1 year low of $38.66 and a 1 year high of $59.05.

Schlumberger (NYSE:SLB) last posted its quarterly earnings results on Friday, October 18th. The oil and gas company reported $0.89 earnings per share for the quarter, topping the consensus estimate of $0.88 by $0.01. The company had revenue of $9.16 billion for the quarter, compared to the consensus estimate of $9.27 billion. Schlumberger had a return on equity of 21.92% and a net margin of 12.56%. The firm’s quarterly revenue was up 10.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.78 EPS. On average, equities research analysts predict that Schlumberger Limited will post 3.44 EPS for the current year.

Schlumberger Dividend Announcement

The business also recently announced 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 2.63%. Schlumberger’s dividend payout ratio is currently 35.37%.

Analyst Ratings Changes

SLB has been the subject of several research reports. Wells Fargo & Company reduced their price objective on Schlumberger from $53.00 to $49.00 and set an “equal weight” rating for the company in a report on Wednesday, September 25th. JPMorgan Chase & Co. cut their price target on Schlumberger from $64.00 to $60.00 and set an “overweight” rating for the company in a report on Tuesday, October 1st. Evercore ISI cut their price target on Schlumberger from $74.00 to $62.00 and set an “outperform” rating for the company in a report on Monday. Morgan Stanley cut their price target on Schlumberger from $65.00 to $60.00 and set an “overweight” rating for the company in a report on Monday, September 16th. Finally, TD Cowen cut their price target on Schlumberger from $68.00 to $65.00 and set a “buy” rating for the company in a report on Monday. Two investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $61.58.

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.