MidWestOne Financial Group Inc. Has $350,000 Position in Schlumberger Limited (NYSE:SLB)

MidWestOne Financial Group Inc. lowered its position in Schlumberger Limited (NYSE:SLB) by 3.0% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 8,348 shares of the oil and gas company’s stock after selling 259 shares during the quarter. MidWestOne Financial Group Inc.’s holdings in Schlumberger were worth $350,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of the stock. Financial Advocates Investment Management lifted its stake in shares of Schlumberger by 3.4% during the 2nd quarter. Financial Advocates Investment Management now owns 6,558 shares of the oil and gas company’s stock worth $309,000 after buying an additional 218 shares during the last quarter. Chilton Capital Management LLC lifted its stake in shares of Schlumberger by 0.8% during the 2nd quarter. Chilton Capital Management LLC now owns 26,202 shares of the oil and gas company’s stock worth $1,236,000 after buying an additional 219 shares during the last quarter. Grove Bank & Trust lifted its stake in shares of Schlumberger by 17.4% during the 3rd quarter. Grove Bank & Trust now owns 1,514 shares of the oil and gas company’s stock worth $64,000 after buying an additional 224 shares during the last quarter. First PREMIER Bank lifted its stake in shares of Schlumberger by 8.7% during the 2nd quarter. First PREMIER Bank now owns 2,842 shares of the oil and gas company’s stock worth $134,000 after buying an additional 227 shares during the last quarter. Finally, Addison Advisors LLC lifted its stake in shares of Schlumberger by 6.5% during the 2nd quarter. Addison Advisors LLC now owns 3,794 shares of the oil and gas company’s stock worth $179,000 after buying an additional 233 shares during the last quarter. Institutional investors and hedge funds own 81.99% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently issued reports on SLB. BMO Capital Markets cut their target price on shares of Schlumberger from $60.00 to $58.00 and set an “outperform” rating for the company in a research note on Thursday, October 10th. Citigroup cut their target price on shares of Schlumberger from $54.00 to $53.00 and set a “buy” rating for the company in a research note on Monday. Dbs Bank started coverage on shares of Schlumberger in a research note on Wednesday, September 18th. They issued a “buy” rating and a $64.50 price objective for the company. Susquehanna dropped their price objective on shares of Schlumberger from $60.00 to $56.00 and set a “positive” rating for the company in a research note on Monday, October 21st. Finally, TD Cowen dropped their price objective on shares of Schlumberger from $68.00 to $65.00 and set a “buy” rating for the company in a research note on Monday, October 21st. Two investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Schlumberger presently has a consensus rating of “Moderate Buy” and an average price target of $60.91.

Insiders Place Their Bets

In other Schlumberger news, EVP Abdellah Merad sold 60,000 shares of the business’s stock in a transaction that occurred 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 sale, the executive vice president now directly 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.26% of the company’s stock.

Schlumberger Trading Down 0.7 %

Shares of Schlumberger stock opened at $40.88 on Wednesday. The firm has a market capitalization of $57.72 billion, a PE ratio of 13.14, a price-to-earnings-growth ratio of 1.45 and a beta of 1.51. The company has a current ratio of 1.48, a quick ratio of 1.12 and a debt-to-equity ratio of 0.52. The firm’s 50 day moving average is $43.01 and its 200 day moving average is $44.13. Schlumberger Limited has a 1 year low of $38.66 and a 1 year high of $55.69.

Schlumberger (NYSE:SLB) last announced 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. The company had revenue of $9.16 billion for 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 firm’s revenue was up 10.2% on a year-over-year basis. During the same period in the previous year, the firm posted $0.78 EPS. Equities research analysts forecast that Schlumberger Limited will post 3.39 earnings per share for the current fiscal year.

Schlumberger Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 9th. Shareholders of record on Wednesday, December 4th will be issued a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a yield of 2.69%. The ex-dividend date of this dividend is Wednesday, December 4th. Schlumberger’s payout ratio 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.