Ferguson Wellman Capital Management Inc. Sells 4,232 Shares of Schlumberger Limited (NYSE:SLB)

Ferguson Wellman Capital Management Inc. trimmed its stake in shares of Schlumberger Limited (NYSE:SLB) by 0.9% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 482,418 shares of the oil and gas company’s stock after selling 4,232 shares during the period. Ferguson Wellman Capital Management Inc.’s holdings in Schlumberger were worth $20,237,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in SLB. Avantax Advisory Services Inc. boosted its stake in shares of Schlumberger by 11.5% in the 1st quarter. Avantax Advisory Services Inc. now owns 27,713 shares of the oil and gas company’s stock worth $1,519,000 after buying an additional 2,866 shares during the last quarter. Kingsview Wealth Management LLC grew its stake in shares of Schlumberger by 114.9% during the 1st quarter. Kingsview Wealth Management LLC now owns 52,858 shares of the oil and gas company’s stock valued at $2,897,000 after purchasing an additional 28,256 shares during the period. Lord Abbett & CO. LLC increased its position in shares of Schlumberger by 0.8% during the 1st quarter. Lord Abbett & CO. LLC now owns 948,045 shares of the oil and gas company’s stock valued at $51,962,000 after purchasing an additional 7,463 shares during the last quarter. Banco BTG Pactual S.A. boosted its holdings in shares of Schlumberger by 160.7% in the first quarter. Banco BTG Pactual S.A. now owns 21,144 shares of the oil and gas company’s stock worth $1,159,000 after buying an additional 13,033 shares during the last quarter. Finally, Wintrust Investments LLC grew its position in Schlumberger by 7.8% during the first quarter. Wintrust Investments LLC now owns 50,599 shares of the oil and gas company’s stock valued at $2,773,000 after buying an additional 3,641 shares during the period. Institutional investors own 81.99% of the company’s stock.

Schlumberger Price Performance

Shares of SLB traded up $0.07 during mid-day trading on Thursday, hitting $43.66. 304,794 shares of the stock were exchanged, compared to its average volume of 11,240,074. The firm has a 50-day moving average of $42.31 and a two-hundred day moving average of $44.76. Schlumberger Limited has a 52-week low of $38.66 and a 52-week high of $55.69. 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 company has a market cap of $61.65 billion, a PE ratio of 14.02, a price-to-earnings-growth ratio of 1.56 and a beta of 1.52.

Schlumberger (NYSE:SLB) last released its quarterly earnings data on Friday, October 18th. The oil and gas company reported $0.89 EPS for the quarter, beating the consensus estimate 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 during the quarter, compared to analyst estimates of $9.27 billion. During the same quarter last year, the business earned $0.78 earnings per share. Schlumberger’s quarterly revenue was up 10.2% compared to the same quarter last year. On average, equities analysts predict 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 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 2.52%. Schlumberger’s payout ratio is currently 35.37%.

Insider Buying and Selling at Schlumberger

In other news, EVP Abdellah Merad sold 60,000 shares of the business’s stock in a transaction that occurred 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 transaction, the executive vice president now owns 211,937 shares of the company’s stock, valued at approximately $8,880,160.30. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 0.26% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on SLB shares. TD Cowen cut their price objective on shares of Schlumberger from $68.00 to $65.00 and set a “buy” rating for the company in a research report on Monday, October 21st. Barclays reduced their price target 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 lowered their price objective on Schlumberger from $58.00 to $54.00 and set a “buy” rating on the stock in a research report on Monday, October 14th. Morgan Stanley lowered their price target on shares of Schlumberger from $65.00 to $60.00 and set an “overweight” rating on the stock in a report on Monday, September 16th. Finally, Evercore ISI reduced their price objective on shares of Schlumberger from $74.00 to $62.00 and set an “outperform” rating for the company in a research note on Monday, October 21st. Two research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target 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.