Janney Capital Management LLC Sells 3,395 Shares of Schlumberger Limited (NYSE:SLB)

Janney Capital Management LLC reduced its holdings in Schlumberger Limited (NYSE:SLB) by 2.4% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 136,093 shares of the oil and gas company’s stock after selling 3,395 shares during the quarter. Janney Capital Management LLC’s holdings in Schlumberger were worth $5,709,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the stock. Financial Advocates Investment Management boosted its stake in Schlumberger by 3.4% during the second quarter. Financial Advocates Investment Management now owns 6,558 shares of the oil and gas company’s stock worth $309,000 after acquiring an additional 218 shares in the last quarter. Chilton Capital Management LLC raised its holdings in shares of Schlumberger by 0.8% during the second quarter. Chilton Capital Management LLC now owns 26,202 shares of the oil and gas company’s stock valued at $1,236,000 after purchasing an additional 219 shares during the period. Grove Bank & Trust boosted its position in shares of Schlumberger by 17.4% during the 3rd quarter. Grove Bank & Trust now owns 1,514 shares of the oil and gas company’s stock worth $64,000 after purchasing an additional 224 shares in the last quarter. First PREMIER Bank grew its stake in shares of Schlumberger by 8.7% in the 2nd quarter. First PREMIER Bank now owns 2,842 shares of the oil and gas company’s stock valued at $134,000 after buying an additional 227 shares during the period. Finally, Team Hewins LLC increased its position in Schlumberger by 3.0% in the 1st quarter. Team Hewins LLC now owns 7,924 shares of the oil and gas company’s stock valued at $436,000 after buying an additional 229 shares in the last quarter. Institutional investors and hedge funds own 81.99% of the company’s stock.

Schlumberger Stock Performance

Shares of SLB opened at $39.76 on Friday. The stock has a 50 day moving average of $42.44 and a 200 day moving average of $45.15. The company has a market capitalization of $56.15 billion, a price-to-earnings ratio of 12.78, a PEG ratio of 1.41 and a beta of 1.52. Schlumberger Limited has a 12 month low of $38.66 and a 12 month high of $57.75. The company has a current ratio of 1.48, a quick ratio of 1.12 and a debt-to-equity ratio of 0.52.

Schlumberger (NYSE:SLB) last announced its earnings results 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. The firm had revenue of $9.16 billion during the quarter, compared to analyst estimates of $9.27 billion. Schlumberger had a return on equity of 21.84% and a net margin of 12.44%. The business’s revenue was up 10.2% compared to the same quarter last year. During the same period last year, the firm posted $0.78 EPS. As a group, sell-side analysts forecast that Schlumberger Limited will post 3.4 earnings per share for the current year.

Schlumberger Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 9th. Shareholders of record on Wednesday, December 4th will be given a $0.275 dividend. This represents a $1.10 annualized dividend and a yield of 2.77%. The ex-dividend date is Wednesday, December 4th. Schlumberger’s dividend payout ratio is 35.37%.

Insider Buying and Selling at Schlumberger

In other news, EVP Abdellah Merad sold 60,000 shares of the firm’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 transaction of $2,514,000.00. Following the completion of the sale, the executive vice president now owns 211,937 shares in the company, valued at $8,880,160.30. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 0.26% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have issued reports on SLB. TD Cowen cut their price target on Schlumberger from $68.00 to $65.00 and set a “buy” rating on the stock in a report on Monday, October 21st. Royal Bank of Canada reiterated an “outperform” rating and issued a $69.00 target price on shares of Schlumberger in a report on Thursday, October 3rd. Wells Fargo & Company decreased their price target on shares of Schlumberger from $53.00 to $49.00 and set an “equal weight” rating for the company in a research note on Wednesday, September 25th. BMO Capital Markets dropped their price objective on shares of Schlumberger from $60.00 to $58.00 and set an “outperform” rating on the stock in a research note on Thursday, October 10th. Finally, Evercore ISI lowered their target price on shares of Schlumberger from $74.00 to $62.00 and set an “outperform” rating on the stock in a report on Monday, October 21st. Two analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $60.97.

Schlumberger 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.