Financial Management Professionals Inc. Sells 334 Shares of Schlumberger Limited. (NYSE:SLB)

Financial Management Professionals Inc. decreased its position in shares of Schlumberger Limited. (NYSE:SLB) by 5.6% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 5,670 shares of the oil and gas company’s stock after selling 334 shares during the quarter. Financial Management Professionals Inc.’s holdings in Schlumberger were worth $194,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Tokio Marine Asset Management Co. Ltd. grew its position in Schlumberger by 1.0% in the 2nd quarter. Tokio Marine Asset Management Co. Ltd. now owns 25,410 shares of the oil and gas company’s stock valued at $1,010,000 after purchasing an additional 262 shares during the period. Pendal Group Ltd grew its position in Schlumberger by 1.5% in the 2nd quarter. Pendal Group Ltd now owns 18,636 shares of the oil and gas company’s stock valued at $703,000 after purchasing an additional 269 shares during the period. Artemis Investment Management LLP grew its position in Schlumberger by 4.9% in the 2nd quarter. Artemis Investment Management LLP now owns 6,260 shares of the oil and gas company’s stock valued at $248,000 after purchasing an additional 293 shares during the period. Glassman Wealth Services grew its position in Schlumberger by 6.0% in the 2nd quarter. Glassman Wealth Services now owns 5,177 shares of the oil and gas company’s stock valued at $206,000 after purchasing an additional 295 shares during the period. Finally, Truvestments Capital LLC grew its position in Schlumberger by 19.6% in the 2nd quarter. Truvestments Capital LLC now owns 1,860 shares of the oil and gas company’s stock valued at $74,000 after purchasing an additional 305 shares during the period. Hedge funds and other institutional investors own 76.66% of the company’s stock.

In other news, EVP Patrick Schorn sold 12,151 shares of the company’s stock in a transaction dated Monday, July 22nd. The stock was sold at an average price of $38.93, for a total transaction of $473,038.43. Following the sale, the executive vice president now directly owns 130,000 shares in the company, valued at $5,060,900. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Stephanie Cox sold 24,057 shares of the company’s stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $40.59, for a total value of $976,473.63. Following the sale, the insider now owns 46,354 shares in the company, valued at $1,881,508.86. The disclosure for this sale can be found here. 0.48% of the stock is currently owned by insiders.

SLB has been the subject of several research reports. Citigroup reduced their price target on shares of Schlumberger from $45.00 to $44.00 and set a “buy” rating for the company in a research report on Monday, September 23rd. Gabelli initiated coverage on shares of Schlumberger in a research report on Thursday, June 27th. They issued a “buy” rating and a $55.00 price target for the company. Wells Fargo & Co cut their price objective on shares of Schlumberger from $48.00 to $44.00 and set an “outperform” rating on the stock in a report on Thursday, September 12th. ValuEngine raised shares of Schlumberger from a “sell” rating to a “hold” rating in a report on Wednesday, October 2nd. Finally, Bank of America cut their price objective on shares of Schlumberger from $51.00 to $45.00 and set a “buy” rating on the stock in a report on Wednesday, August 28th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and fifteen have issued a buy rating to the company. Schlumberger presently has an average rating of “Buy” and an average target price of $49.39.

SLB traded up $1.43 during mid-day trading on Friday, reaching $32.50. 651,294 shares of the stock were exchanged, compared to its average volume of 12,549,562. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.01 and a current ratio of 1.39. The stock has a market capitalization of $42.47 billion, a PE ratio of 20.15, a price-to-earnings-growth ratio of 2.19 and a beta of 1.49. The company has a 50 day moving average price of $34.18 and a two-hundred day moving average price of $38.22. Schlumberger Limited. has a 1 year low of $30.65 and a 1 year high of $61.19.

Schlumberger (NYSE:SLB) last posted its quarterly earnings data on Friday, July 19th. The oil and gas company reported $0.35 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.35. The firm had revenue of $8.27 billion for the quarter, compared to the consensus estimate of $8.11 billion. Schlumberger had a net margin of 6.38% and a return on equity of 5.62%. The business’s revenue for the quarter was down .4% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.43 EPS. Sell-side analysts expect that Schlumberger Limited. will post 1.48 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, October 11th. Investors of record on Wednesday, September 4th will be issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 6.15%. The ex-dividend date of this dividend is Tuesday, September 3rd. Schlumberger’s dividend payout ratio (DPR) is currently 123.46%.

Schlumberger Profile

Schlumberger Limited supplies technology for reservoir characterization, drilling, production, and processing to the oil and gas industry worldwide. The company's Reservoir Characterization segment offers reservoir interpretation and data processing services; open and cased-hole, and slickline services; exploration and production pressure and flow-rate measurement services; tubing-conveyed perforating services; integrated production systems; software, consulting, information management, and IT infrastructure services; reservoir characterization, field development planning, and production enhancement consulting services; petro technical data services and training solutions; and integrated management services.

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Institutional Ownership by Quarter for Schlumberger (NYSE:SLB)

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