Schlumberger Limited (NYSE:SLB) Shares Sold by Hourglass Capital LLC

Hourglass Capital LLC decreased its position in shares of Schlumberger Limited (NYSE:SLB) by 1.3% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 179,670 shares of the oil and gas company’s stock after selling 2,310 shares during the quarter. Schlumberger accounts for about 2.1% of Hourglass Capital LLC’s holdings, making the stock its 14th biggest holding. Hourglass Capital LLC’s holdings in Schlumberger were worth $7,537,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of the stock. Huntington National Bank lifted its holdings in Schlumberger by 4.4% in the third quarter. Huntington National Bank now owns 39,147 shares of the oil and gas company’s stock worth $1,642,000 after purchasing an additional 1,665 shares during the period. Peak Asset Management LLC lifted its holdings in Schlumberger by 7.8% in the 3rd quarter. Peak Asset Management LLC now owns 39,321 shares of the oil and gas company’s stock valued at $1,650,000 after acquiring an additional 2,860 shares during the last quarter. Plato Investment Management Ltd raised its holdings in Schlumberger by 32.5% during the 3rd quarter. Plato Investment Management Ltd now owns 81,296 shares of the oil and gas company’s stock worth $3,407,000 after buying an additional 19,962 shares during the period. Schrum Private Wealth Management LLC raised its holdings in Schlumberger by 59.8% during the 3rd quarter. Schrum Private Wealth Management LLC now owns 19,448 shares of the oil and gas company’s stock worth $816,000 after buying an additional 7,279 shares during the period. Finally, Oppenheimer Asset Management Inc. raised its holdings in Schlumberger by 11.1% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 6,816 shares of the oil and gas company’s stock worth $286,000 after buying an additional 683 shares during the period. Institutional investors and hedge funds own 81.99% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently commented on SLB. Wells Fargo & Company dropped their price objective on Schlumberger from $53.00 to $49.00 and set an “equal weight” rating on the stock in a report on Wednesday, September 25th. UBS Group cut their price objective on shares of Schlumberger from $63.00 to $57.00 and set a “buy” rating on the stock in a research report on Wednesday, September 18th. Morgan Stanley cut their price objective on shares of Schlumberger from $65.00 to $60.00 and set an “overweight” rating on the stock in a research report on Monday, September 16th. Bank of America cut their price objective on shares of Schlumberger from $58.00 to $54.00 and set a “buy” rating on the stock in a research report on Monday, October 14th. Finally, Barclays cut their price objective on shares of Schlumberger from $67.00 to $63.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 16th. Two research 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 company. Based on data from MarketBeat.com, Schlumberger has an average rating of “Moderate Buy” and a consensus price target of $60.97.

Insider Activity at Schlumberger

In other Schlumberger news, EVP Abdellah Merad sold 60,000 shares of the business’s 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 of the company’s stock, valued at approximately $8,880,160.30. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.26% of the stock is currently owned by company insiders.

Schlumberger Stock Down 1.7 %

Shares of NYSE:SLB opened at $43.59 on Thursday. Schlumberger Limited has a 52 week low of $38.66 and a 52 week high of $55.69. 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 company’s fifty day moving average is $42.26 and its 200-day moving average is $44.77. The company has a market capitalization of $61.56 billion, a PE ratio of 14.02, a P/E/G ratio of 1.56 and a beta of 1.52.

Schlumberger (NYSE:SLB) last issued its 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. Schlumberger had a net margin of 12.44% and a return on equity of 21.84%. The company had revenue of $9.16 billion for the quarter, compared to the consensus estimate of $9.27 billion. During the same quarter in the previous year, the company earned $0.78 EPS. The firm’s revenue for the quarter was up 10.2% compared to the same quarter last year. Equities research analysts predict that Schlumberger Limited will post 3.4 earnings per share for the current fiscal year.

Schlumberger Announces Dividend

The firm also recently declared 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 of this dividend is Wednesday, December 4th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 2.52%. Schlumberger’s dividend payout ratio is 35.37%.

About Schlumberger

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.