B. Riley Wealth Advisors Inc. Has $1.60 Million Stake in Schlumberger Limited (NYSE:SLB)

B. Riley Wealth Advisors Inc. lowered its stake in Schlumberger Limited (NYSE:SLB) by 20.3% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 36,496 shares of the oil and gas company’s stock after selling 9,278 shares during the quarter. B. Riley Wealth Advisors Inc.’s holdings in Schlumberger were worth $1,596,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Raymond James & Associates lifted its stake in shares of Schlumberger by 2.0% in the 2nd quarter. Raymond James & Associates now owns 889,375 shares of the oil and gas company’s stock valued at $41,961,000 after acquiring an additional 17,346 shares during the last quarter. Raymond James Financial Services Advisors Inc. boosted its position in Schlumberger by 6.0% during the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 332,410 shares of the oil and gas company’s stock worth $15,683,000 after buying an additional 18,826 shares during the period. Dakota Wealth Management grew its holdings in Schlumberger by 28.1% during the 2nd quarter. Dakota Wealth Management now owns 42,118 shares of the oil and gas company’s stock worth $1,987,000 after acquiring an additional 9,236 shares during the last quarter. Crescent Grove Advisors LLC acquired a new position in Schlumberger in the 2nd quarter valued at approximately $257,000. Finally, Fifth Third Wealth Advisors LLC raised its stake in shares of Schlumberger by 144.2% during the second quarter. Fifth Third Wealth Advisors LLC now owns 22,375 shares of the oil and gas company’s stock valued at $1,056,000 after acquiring an additional 13,214 shares during the last quarter. 81.99% of the stock is owned by institutional investors.

Insider Activity

In related news, EVP Abdellah Merad sold 60,000 shares of the firm’s stock in a transaction dated Thursday, October 24th. The shares were sold at an average price of $41.90, for a total value 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. This trade represents a 22.06 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.26% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently weighed in on SLB. TD Cowen reduced their price objective on shares of Schlumberger from $68.00 to $65.00 and set a “buy” rating on the stock in a research note on Monday, October 21st. Citigroup decreased their price target on Schlumberger from $54.00 to $53.00 and set a “buy” rating for the company in a research note on Monday, December 9th. Atb Cap Markets lowered Schlumberger from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 10th. Bank of America decreased their target price on shares of Schlumberger from $58.00 to $54.00 and set a “buy” rating for the company in a research report on Monday, October 14th. Finally, Barclays lowered their price target on shares of Schlumberger from $67.00 to $63.00 and set an “overweight” rating for the company in a report on Wednesday, October 16th. Three equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Schlumberger has a consensus rating of “Moderate Buy” and a consensus price target of $60.91.

Schlumberger Stock Performance

Shares of Schlumberger stock opened at $39.88 on Tuesday. The business has a 50-day simple moving average of $42.62 and a 200 day simple moving average of $43.94. The firm has a market capitalization of $56.32 billion, a price-to-earnings ratio of 12.82, a PEG ratio of 1.42 and a beta of 1.51. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.48 and a quick ratio of 1.12. Schlumberger Limited has a one year low of $38.66 and a one year high of $55.69.

Schlumberger (NYSE:SLB) last issued its earnings results 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 21.84% and a net margin of 12.44%. The company had revenue of $9.16 billion for the quarter, compared to analyst estimates of $9.27 billion. During the same period in the prior year, the firm earned $0.78 earnings per share. Schlumberger’s revenue for the quarter was up 10.2% on a year-over-year basis. On average, research analysts anticipate that Schlumberger Limited will post 3.39 earnings per share for the current fiscal year.

Schlumberger Announces Dividend

The firm 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 $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a dividend yield of 2.76%. The ex-dividend date is Wednesday, December 4th. Schlumberger’s dividend payout ratio (DPR) is 35.37%.

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.