Jade Capital Advisors LLC Decreases Stock Position in Schlumberger Limited (NYSE:SLB)

Jade Capital Advisors LLC trimmed its holdings in shares of Schlumberger Limited (NYSE:SLB) by 81.8% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 10,000 shares of the oil and gas company’s stock after selling 45,000 shares during the period. Jade Capital Advisors LLC’s holdings in Schlumberger were worth $420,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of SLB. ORG Partners LLC grew its position in Schlumberger by 393.5% in the 3rd quarter. ORG Partners LLC now owns 607 shares of the oil and gas company’s stock worth $25,000 after purchasing an additional 484 shares during the period. Register Financial Advisors LLC bought a new stake in Schlumberger during the first quarter valued at about $27,000. Bruce G. Allen Investments LLC boosted its stake in shares of Schlumberger by 204.2% in the second quarter. Bruce G. Allen Investments LLC now owns 584 shares of the oil and gas company’s stock worth $28,000 after acquiring an additional 392 shares during the period. Unique Wealth Strategies LLC bought a new stake in Schlumberger during the 2nd quarter valued at approximately $30,000. Finally, Manchester Capital Management LLC boosted its stake in Schlumberger by 297.9% in the 1st quarter. Manchester Capital Management LLC now owns 569 shares of the oil and gas company’s stock worth $31,000 after purchasing an additional 426 shares during the period. Hedge funds and other institutional investors own 81.99% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on SLB shares. Piper Sandler cut their target price on shares of Schlumberger from $71.00 to $66.00 and set an “overweight” rating for the company in a research note on Monday, July 15th. Wells Fargo & Company reduced their price objective on Schlumberger from $53.00 to $49.00 and set an “equal weight” rating on the stock in a research note on Wednesday, September 25th. Barclays lowered their target price on Schlumberger from $67.00 to $63.00 and set an “overweight” rating for the company in a research report on Wednesday, October 16th. Bank of America reduced their price target 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, Stifel Nicolaus reiterated a “buy” rating and set a $60.00 price objective (down previously from $62.00) on shares of Schlumberger in a research report on Monday. Two equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $62.03.

Schlumberger Trading Up 1.2 %

NYSE:SLB opened at $42.43 on Tuesday. The firm has a 50 day moving average of $43.07 and a 200 day moving average of $45.87. The company has a quick ratio of 1.13, a current ratio of 1.49 and a debt-to-equity ratio of 0.55. Schlumberger Limited has a 52 week low of $38.66 and a 52 week high of $59.05. The stock has a market capitalization of $60.24 billion, a price-to-earnings ratio of 13.64, a PEG ratio of 1.27 and a beta of 1.51.

Schlumberger (NYSE:SLB) last posted its quarterly earnings data on Friday, October 18th. The oil and gas company reported $0.89 earnings per share for the quarter, topping analysts’ consensus estimates of $0.88 by $0.01. Schlumberger had a return on equity of 21.92% and a net margin of 12.56%. The firm had revenue of $9.16 billion during the quarter, compared to analysts’ expectations of $9.27 billion. During the same quarter last year, the firm earned $0.78 EPS. The business’s quarterly revenue was up 10.2% on a year-over-year basis. As a group, sell-side analysts anticipate that Schlumberger Limited will post 3.44 earnings per share for the current fiscal year.

Schlumberger Announces Dividend

The business 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 $0.275 dividend. This represents a $1.10 annualized dividend and a dividend yield of 2.59%. The ex-dividend date of this dividend is Wednesday, December 4th. Schlumberger’s payout ratio is currently 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.