Advisors Asset Management Inc. Sells 12,593 Shares of Schlumberger Limited (NYSE:SLB)

Advisors Asset Management Inc. trimmed its stake in Schlumberger Limited (NYSE:SLB) by 8.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 136,572 shares of the oil and gas company’s stock after selling 12,593 shares during the period. Advisors Asset Management Inc.’s holdings in Schlumberger were worth $5,729,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of SLB. Acadian Asset Management LLC boosted its position in Schlumberger by 4.1% during the 1st quarter. Acadian Asset Management LLC now owns 8,638 shares of the oil and gas company’s stock valued at $471,000 after acquiring an additional 337 shares in the last quarter. CreativeOne Wealth LLC grew its stake in Schlumberger by 53.3% in the first quarter. CreativeOne Wealth LLC now owns 6,302 shares of the oil and gas company’s stock worth $345,000 after purchasing an additional 2,192 shares during the period. Axxcess Wealth Management LLC raised its holdings in Schlumberger by 10.3% in the first quarter. Axxcess Wealth Management LLC now owns 35,770 shares of the oil and gas company’s stock worth $1,961,000 after purchasing an additional 3,344 shares in the last quarter. Canada Pension Plan Investment Board raised its holdings in Schlumberger by 9.0% in the first quarter. Canada Pension Plan Investment Board now owns 788,484 shares of the oil and gas company’s stock worth $43,217,000 after purchasing an additional 64,974 shares in the last quarter. Finally, Linscomb Wealth Inc. lifted its position in Schlumberger by 14.5% during the first quarter. Linscomb Wealth Inc. now owns 12,695 shares of the oil and gas company’s stock valued at $696,000 after buying an additional 1,608 shares during the period. 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 on 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 completion of the sale, the executive vice president now owns 211,937 shares of the company’s stock, valued at $8,880,160.30. The trade was a 22.06 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 0.26% of the company’s stock.

Schlumberger Stock Up 1.3 %

SLB opened at $44.10 on Friday. The stock has a market capitalization of $62.28 billion, a price-to-earnings ratio of 14.18, a PEG ratio of 1.52 and a beta of 1.52. The firm has a 50 day moving average price of $42.70 and a 200-day moving average price of $44.60. Schlumberger Limited has a twelve month low of $38.66 and a twelve month high of $55.69. The company has a quick ratio of 1.12, a current ratio of 1.48 and a debt-to-equity ratio of 0.52.

Schlumberger (NYSE:SLB) last announced its earnings results 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. The business had revenue of $9.16 billion during the quarter, compared to analyst estimates of $9.27 billion. Schlumberger had a net margin of 12.44% and a return on equity of 21.84%. The company’s quarterly revenue was up 10.2% compared to the same quarter last year. During the same period in the previous year, the business earned $0.78 EPS. Equities research analysts forecast that Schlumberger Limited will post 3.4 earnings per share for the current year.

Schlumberger Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 9th. Shareholders of record on Wednesday, December 4th will be given a $0.275 dividend. The ex-dividend date is Wednesday, December 4th. This represents a $1.10 annualized dividend and a yield of 2.49%. Schlumberger’s payout ratio is 35.37%.

Analyst Upgrades and Downgrades

SLB has been the subject of several research reports. Bank of America decreased their price target on shares of Schlumberger from $58.00 to $54.00 and set a “buy” rating for the company in a research note on Monday, October 14th. Morgan Stanley lowered their target price 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. Stifel Nicolaus restated a “buy” rating and issued a $60.00 price target (down previously from $62.00) on shares of Schlumberger in a research note on Monday, October 21st. Susquehanna reduced their price objective on Schlumberger from $60.00 to $56.00 and set a “positive” rating for the company in a research report on Monday, October 21st. Finally, Dbs Bank assumed coverage on Schlumberger in a report on Wednesday, September 18th. They issued a “buy” rating and a $64.50 target price on the stock. Two research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus 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.