Heritage Wealth Management Inc. Texas Cuts Holdings in Schlumberger Limited (NYSE:SLB)

Heritage Wealth Management Inc. Texas cut its position in shares of Schlumberger Limited (NYSE:SLB) by 10.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 14,418 shares of the oil and gas company’s stock after selling 1,709 shares during the quarter. Schlumberger comprises 0.3% of Heritage Wealth Management Inc. Texas’ portfolio, making the stock its 20th biggest position. Heritage Wealth Management Inc. Texas’ holdings in Schlumberger were worth $553,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of SLB. Grove Bank & Trust raised its stake in shares of Schlumberger by 17.4% during the third quarter. Grove Bank & Trust now owns 1,514 shares of the oil and gas company’s stock valued at $64,000 after purchasing an additional 224 shares during the period. M&R Capital Management Inc. raised its position in shares of Schlumberger by 1.7% in the 3rd quarter. M&R Capital Management Inc. now owns 14,817 shares of the oil and gas company’s stock valued at $622,000 after purchasing an additional 241 shares in the last quarter. GM Advisory Group LLC boosted its stake in shares of Schlumberger by 3.8% during the 3rd quarter. GM Advisory Group LLC now owns 6,701 shares of the oil and gas company’s stock valued at $281,000 after buying an additional 247 shares during the last quarter. Cordatus Wealth Management LLC grew its position in shares of Schlumberger by 2.1% during the third quarter. Cordatus Wealth Management LLC now owns 13,383 shares of the oil and gas company’s stock worth $561,000 after buying an additional 281 shares in the last quarter. Finally, OneDigital Investment Advisors LLC increased its stake in shares of Schlumberger by 0.7% in the third quarter. OneDigital Investment Advisors LLC now owns 40,715 shares of the oil and gas company’s stock worth $1,708,000 after buying an additional 284 shares during the last quarter. 81.99% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have weighed in on SLB. Royal Bank of Canada reissued an “outperform” rating and set a $57.00 price objective on shares of Schlumberger in a report on Tuesday. BMO Capital Markets decreased their price target on Schlumberger from $53.00 to $48.00 in a research note on Thursday, January 16th. Stifel Nicolaus reduced their target price on Schlumberger from $60.00 to $59.00 and set a “buy” rating on the stock in a report on Monday, December 23rd. Evercore ISI reiterated an “in-line” rating and issued a $44.00 price target (down from $62.00) on shares of Schlumberger in a report on Wednesday, January 15th. Finally, Bank of America reduced their price objective on Schlumberger from $58.00 to $54.00 and set a “buy” rating on the stock in a research note on Monday, October 14th. Six investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $55.81.

Insider Activity

In other Schlumberger news, VP Ugo Prechner sold 7,000 shares of the company’s stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $44.20, for a total value of $309,400.00. Following the transaction, the vice president now owns 11,240 shares in the company, valued at approximately $496,808. This represents a 38.38 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Vijay Kasibhatla sold 25,000 shares of Schlumberger stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $43.94, for a total transaction of $1,098,500.00. Following the sale, the director now directly owns 49,595 shares of the company’s stock, valued at $2,179,204.30. This trade represents a 33.51 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 198,258 shares of company stock worth $8,732,604 over the last quarter. Corporate insiders own 0.26% of the company’s stock.

Schlumberger Stock Up 0.9 %

Shares of Schlumberger stock opened at $41.99 on Friday. The stock’s fifty day moving average is $40.79 and its 200-day moving average is $42.79. The firm has a market capitalization of $59.29 billion, a PE ratio of 13.50, a price-to-earnings-growth ratio of 9.98 and a beta of 1.52. Schlumberger Limited has a 12-month low of $36.52 and a 12-month high of $55.69. The company has a quick ratio of 1.11, a current ratio of 1.45 and a debt-to-equity ratio of 0.49.

Schlumberger (NYSE:SLB) last announced its earnings results on Friday, January 17th. The oil and gas company reported $0.92 EPS for the quarter, topping the consensus estimate of $0.90 by $0.02. Schlumberger had a net margin of 12.29% and a return on equity of 21.90%. The company had revenue of $9.28 billion during the quarter, compared to analysts’ expectations of $9,241,140 billion. During the same period last year, the company posted $0.86 earnings per share. The business’s revenue for the quarter was up 3.3% on a year-over-year basis. Equities analysts anticipate that Schlumberger Limited will post 3.34 earnings per share for the current year.

Schlumberger Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 3rd. Shareholders of record on Wednesday, February 5th will be paid a dividend of $0.285 per share. This is an increase from Schlumberger’s previous quarterly dividend of $0.28. This represents a $1.14 annualized dividend and a yield of 2.72%. The ex-dividend date of this dividend is Wednesday, February 5th. Schlumberger’s payout ratio is 35.37%.

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.