Schlumberger Limited (NYSE:SLB) Shares Sold by Northern Financial Advisors Inc

Northern Financial Advisors Inc reduced its stake in Schlumberger Limited (NYSE:SLB) by 3.6% in the third quarter, HoldingsChannel reports. The fund owned 15,634 shares of the oil and gas company’s stock after selling 581 shares during the quarter. Northern Financial Advisors Inc’s holdings in Schlumberger were worth $656,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Manchester Capital Management LLC boosted its stake in Schlumberger by 297.9% during the 1st quarter. Manchester Capital Management LLC now owns 569 shares of the oil and gas company’s stock valued at $31,000 after purchasing an additional 426 shares in the last quarter. Bruce G. Allen Investments LLC boosted its stake in 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 in the last quarter. ORG Partners LLC grew its holdings in Schlumberger by 393.5% during the third quarter. ORG Partners LLC now owns 607 shares of the oil and gas company’s stock worth $25,000 after acquiring an additional 484 shares during the period. Unique Wealth Strategies LLC bought a new stake in Schlumberger in the second quarter worth about $30,000. Finally, Riverview Trust Co lifted its holdings in Schlumberger by 90.6% in the 2nd quarter. Riverview Trust Co now owns 648 shares of the oil and gas company’s stock valued at $31,000 after acquiring an additional 308 shares during the last quarter. Institutional investors and hedge funds own 81.99% of the company’s stock.

Schlumberger Price Performance

NYSE SLB opened at $39.76 on Friday. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.48 and a quick ratio of 1.12. The firm has a market capitalization of $56.15 billion, a price-to-earnings ratio of 12.78, a price-to-earnings-growth ratio of 1.41 and a beta of 1.52. The company has a 50 day simple moving average of $42.44 and a 200-day simple moving average of $45.15. Schlumberger Limited has a 52-week low of $38.66 and a 52-week high of $57.75.

Schlumberger (NYSE:SLB) last released its quarterly earnings data on Friday, October 18th. The oil and gas company reported $0.89 earnings per share for the quarter, beating the consensus estimate of $0.88 by $0.01. The firm had revenue of $9.16 billion for the quarter, compared to analyst estimates of $9.27 billion. Schlumberger had a net margin of 12.44% and a return on equity of 21.84%. The company’s revenue for the quarter was up 10.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.78 EPS. Equities research analysts predict that Schlumberger Limited will post 3.4 earnings per share for the current fiscal year.

Schlumberger Dividend Announcement

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. The ex-dividend date is Wednesday, December 4th. This represents a $1.10 dividend on an annualized basis and a yield of 2.77%. Schlumberger’s 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 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 $8,880,160.30. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.26% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. Morgan Stanley lowered their price objective on shares of Schlumberger from $65.00 to $60.00 and set an “overweight” rating on the stock in a research note on Monday, September 16th. Evercore ISI dropped their price target on Schlumberger from $74.00 to $62.00 and set an “outperform” rating on the stock in a report on Monday, October 21st. Piper Sandler cut their price objective on Schlumberger from $71.00 to $66.00 and set an “overweight” rating for the company in a research report on Monday, July 15th. Susquehanna decreased their target price on Schlumberger from $60.00 to $56.00 and set a “positive” rating on the stock in a report on Monday, October 21st. Finally, Bank of America reduced their target price on Schlumberger from $58.00 to $54.00 and set a “buy” rating for the company in a report on Monday, October 14th. Two investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $60.97.

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.