Associated Banc Corp Reduces Stock Position in Schlumberger Limited (NYSE:SLB)

Associated Banc Corp trimmed its stake in shares of Schlumberger Limited (NYSE:SLB) by 5.4% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 41,050 shares of the oil and gas company’s stock after selling 2,339 shares during the quarter. Associated Banc Corp’s holdings in Schlumberger were worth $1,722,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the stock. Bruce G. Allen Investments LLC increased its position in shares of Schlumberger by 204.2% during the second quarter. Bruce G. Allen Investments LLC now owns 584 shares of the oil and gas company’s stock valued at $28,000 after buying an additional 392 shares during the period. ORG Partners LLC raised its position in 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 purchasing an additional 484 shares in the last quarter. Unique Wealth Strategies LLC purchased a new position in Schlumberger in the 2nd quarter worth approximately $30,000. Riverview Trust Co increased its stake in Schlumberger by 90.6% in the 2nd quarter. Riverview Trust Co now owns 648 shares of the oil and gas company’s stock worth $31,000 after purchasing an additional 308 shares during the period. Finally, Prospera Private Wealth LLC bought a new stake in Schlumberger in the third quarter valued at approximately $29,000. Hedge funds and other institutional investors own 81.99% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently commented on SLB. Morgan Stanley lowered their price target 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. UBS Group cut their target price on Schlumberger from $63.00 to $57.00 and set a “buy” rating on the stock in a research note on Wednesday, September 18th. TD Cowen lowered their price target on Schlumberger from $68.00 to $65.00 and set a “buy” rating for the company in a research report on Monday, October 21st. Evercore ISI cut their price objective on Schlumberger from $74.00 to $62.00 and set an “outperform” rating on the stock in a research report on Monday, October 21st. Finally, Stifel Nicolaus restated a “buy” rating and set a $60.00 target price (down previously from $62.00) on shares of Schlumberger in a report on Monday, October 21st. Two research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $60.97.

Schlumberger Price Performance

SLB stock opened at $43.77 on Tuesday. 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 firm has a 50 day moving average price of $42.85 and a 200-day moving average price of $44.49. Schlumberger Limited has a 52-week low of $38.66 and a 52-week high of $55.69. The firm has a market capitalization of $61.81 billion, a price-to-earnings ratio of 14.07, a PEG ratio of 1.56 and a beta of 1.52.

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

Schlumberger Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 9th. Investors of record on Wednesday, December 4th will be given a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a yield of 2.51%. The ex-dividend date is Wednesday, December 4th. Schlumberger’s dividend payout ratio (DPR) is 35.37%.

Insider Buying and Selling at Schlumberger

In other Schlumberger news, EVP Abdellah Merad sold 60,000 shares of the stock in a transaction on 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 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 22.06 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.26% of the stock is owned by company insiders.

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.