Schlumberger Limited (NYSE:SLB) Holdings Cut by Eagle Bay Advisors LLC

Eagle Bay Advisors LLC reduced its stake in shares of Schlumberger Limited (NYSE:SLB) by 36.9% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,169 shares of the oil and gas company’s stock after selling 683 shares during the period. Eagle Bay Advisors LLC’s holdings in Schlumberger were worth $45,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of SLB. ORG Partners LLC grew its stake in Schlumberger by 393.5% in the third quarter. ORG Partners LLC now owns 607 shares of the oil and gas company’s stock valued at $25,000 after purchasing an additional 484 shares in the last quarter. Prospera Private Wealth LLC acquired a new stake in shares of Schlumberger during the 3rd quarter valued at about $29,000. Ashton Thomas Securities LLC acquired a new stake in shares of Schlumberger during the 3rd quarter valued at about $37,000. DiNuzzo Private Wealth Inc. increased its holdings in Schlumberger by 1,068.3% in the third quarter. DiNuzzo Private Wealth Inc. now owns 958 shares of the oil and gas company’s stock worth $40,000 after buying an additional 876 shares during the last quarter. Finally, J. Stern & Co. LLP acquired a new position in Schlumberger in the third quarter worth approximately $47,000. 81.99% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, EVP Abdellah Merad sold 60,000 shares of the stock in a transaction on 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 completion of the transaction, the executive vice president now owns 211,937 shares in the company, valued at approximately $8,880,160.30. This represents a 22.06 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.26% of the company’s stock.

Schlumberger Stock Performance

NYSE:SLB opened at $39.84 on Tuesday. The firm’s 50-day moving average is $40.96 and its 200-day moving average is $43.00. The company has a market cap of $56.26 billion, a price-to-earnings ratio of 12.81, a PEG ratio of 1.42 and a beta of 1.52. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.12 and a current ratio of 1.48. Schlumberger Limited has a 52-week low of $36.52 and a 52-week high of $55.69.

Schlumberger (NYSE:SLB) last issued its quarterly 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. Schlumberger had a return on equity of 21.84% and a net margin of 12.44%. The firm had revenue of $9.16 billion for the quarter, compared to analyst estimates of $9.27 billion. During the same period in the previous year, the company posted $0.78 earnings per share. The company’s quarterly revenue was up 10.2% compared to the same quarter last year. Equities research analysts anticipate that Schlumberger Limited will post 3.39 earnings per share for the current year.

Schlumberger Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, January 9th. Investors of record on Wednesday, December 4th were given a $0.275 dividend. The ex-dividend date of this dividend was Wednesday, December 4th. This represents a $1.10 annualized dividend and a yield of 2.76%. Schlumberger’s dividend payout ratio (DPR) is currently 35.37%.

Wall Street Analyst Weigh In

Several research firms have commented on SLB. Citigroup decreased their target price on shares of Schlumberger from $53.00 to $50.00 and set a “buy” rating for the company in a research report on Thursday, December 19th. Morgan Stanley decreased their price objective on shares of Schlumberger from $65.00 to $60.00 and set an “overweight” rating for the company in a report on Monday, September 16th. Dbs Bank began coverage on shares of Schlumberger in a research report on Wednesday, September 18th. They set a “buy” rating and a $64.50 target price on the stock. Sanford C. Bernstein upgraded Schlumberger to a “strong-buy” rating in a research note on Tuesday, November 12th. Finally, TD Cowen cut their price objective on Schlumberger from $65.00 to $53.00 and set a “buy” rating on the stock in a research note on Wednesday, January 8th. Five investment 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 company’s stock. According to MarketBeat, Schlumberger has a consensus rating of “Moderate Buy” and an average price target of $57.58.

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.