Atria Investments Inc Reduces Position in Schlumberger Limited (NYSE:SLB)

Atria Investments Inc lessened its stake in shares of Schlumberger Limited (NYSE:SLB) by 7.0% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 54,702 shares of the oil and gas company’s stock after selling 4,141 shares during the quarter. Atria Investments Inc’s holdings in Schlumberger were worth $2,295,000 at the end of the most recent quarter.

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

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on SLB. Susquehanna dropped their price target on Schlumberger from $60.00 to $56.00 and set a “positive” rating for the company in a research note on Monday, October 21st. Morgan Stanley dropped their price target on Schlumberger from $65.00 to $60.00 and set an “overweight” rating for the company in a research note on Monday, September 16th. Wells Fargo & Company lowered their price objective on Schlumberger from $53.00 to $49.00 and set an “equal weight” rating for the company in a research report on Wednesday, September 25th. Dbs Bank assumed coverage on Schlumberger in a research report on Wednesday, September 18th. They set a “buy” rating and a $64.50 price objective for the company. Finally, BMO Capital Markets lowered their price objective on Schlumberger from $60.00 to $58.00 and set an “outperform” rating for the company in a research report on Thursday, October 10th. Two research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $60.97.

Insider Buying and Selling

In related news, EVP Abdellah Merad sold 60,000 shares of Schlumberger stock in a transaction dated Thursday, October 24th. The stock was sold at an average price of $41.90, for a total value of $2,514,000.00. Following the completion of the sale, the executive vice president now directly owns 211,937 shares in the company, valued at approximately $8,880,160.30. This trade represents a 22.06 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.26% of the stock is owned by corporate insiders.

Schlumberger Price Performance

Shares of NYSE:SLB opened at $43.45 on Friday. Schlumberger Limited has a 1-year low of $38.66 and a 1-year high of $55.69. The business has a fifty day moving average price of $42.31 and a 200-day moving average price of $44.76. The company has a market capitalization of $61.36 billion, a PE ratio of 13.97, a PEG ratio of 1.56 and a beta of 1.52. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.48 and a quick ratio of 1.12.

Schlumberger (NYSE:SLB) last released its quarterly earnings data on Friday, October 18th. The oil and gas company reported $0.89 EPS for the quarter, topping 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 company had revenue of $9.16 billion during the quarter, compared to the consensus estimate of $9.27 billion. During the same period last year, the company earned $0.78 EPS. Schlumberger’s revenue for the quarter was up 10.2% on a year-over-year basis. As a group, equities analysts expect that Schlumberger Limited will post 3.4 EPS for the current fiscal year.

Schlumberger Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 9th. Investors of record on Wednesday, December 4th will be issued a $0.275 dividend. The ex-dividend date of this dividend is Wednesday, December 4th. This represents a $1.10 annualized dividend and a yield of 2.53%. 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.