Northeast Investment Management Sells 26,441 Shares of Schlumberger Limited (NYSE:SLB)

Northeast Investment Management decreased its holdings in shares of Schlumberger Limited (NYSE:SLB) by 28.2% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 67,332 shares of the oil and gas company’s stock after selling 26,441 shares during the period. Northeast Investment Management’s holdings in Schlumberger were worth $2,825,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in SLB. Financial Advocates Investment Management grew its position in shares of 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 valued at $309,000 after purchasing an additional 218 shares in the last quarter. Chilton Capital Management LLC grew its position in Schlumberger by 0.8% in the second quarter. Chilton Capital Management LLC now owns 26,202 shares of the oil and gas company’s stock worth $1,236,000 after acquiring an additional 219 shares in the last quarter. Grove Bank & Trust grew its position in Schlumberger by 17.4% in the third quarter. Grove Bank & Trust now owns 1,514 shares of the oil and gas company’s stock worth $64,000 after acquiring an additional 224 shares in the last quarter. First PREMIER Bank grew its position in Schlumberger by 8.7% in the second quarter. First PREMIER Bank now owns 2,842 shares of the oil and gas company’s stock worth $134,000 after acquiring an additional 227 shares in the last quarter. Finally, Team Hewins LLC grew its position in Schlumberger by 3.0% in the first quarter. Team Hewins LLC now owns 7,924 shares of the oil and gas company’s stock worth $436,000 after acquiring an additional 229 shares in the last quarter. Hedge funds and other institutional investors own 81.99% of the company’s stock.

Insider Buying and Selling at Schlumberger

In other news, EVP Abdellah Merad sold 60,000 shares of the business’s stock in a transaction dated 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 transaction, the executive vice president now directly owns 211,937 shares in the company, valued at $8,880,160.30. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.26% of the stock is currently owned by company insiders.

Schlumberger Stock Performance

NYSE:SLB opened at $39.76 on Monday. 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 stock has a market capitalization of $56.15 billion, a P/E ratio of 12.78, a PEG ratio of 1.41 and a beta of 1.52. The company has a 50 day moving average price of $42.44 and a 200 day moving average price of $45.11. Schlumberger Limited has a fifty-two week low of $38.66 and a fifty-two week high of $57.75.

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

Schlumberger Announces Dividend

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

Analyst Ratings Changes

Several research analysts recently commented on the company. Wells Fargo & Company dropped their price target on Schlumberger from $53.00 to $49.00 and set an “equal weight” rating for the company in a research report on Wednesday, September 25th. Royal Bank of Canada reiterated an “outperform” rating and issued a $69.00 price target on shares of Schlumberger in a research report on Thursday, October 3rd. Citigroup dropped their price target on Schlumberger from $60.00 to $54.00 and set a “buy” rating for the company in a research report on Tuesday, October 22nd. UBS Group decreased their price objective on shares of Schlumberger from $63.00 to $57.00 and set a “buy” rating for the company in a research note on Wednesday, September 18th. Finally, Dbs Bank initiated coverage on shares of Schlumberger in a research note on Wednesday, September 18th. They issued a “buy” rating and a $64.50 price objective for the company. Two equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Schlumberger has an average rating of “Moderate Buy” and an average 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.