SeaCrest Wealth Management LLC Sells 1,941 Shares of Schlumberger Limited (NYSE:SLB)

SeaCrest Wealth Management LLC trimmed its holdings in Schlumberger Limited (NYSE:SLB) by 13.2% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 12,727 shares of the oil and gas company’s stock after selling 1,941 shares during the period. SeaCrest Wealth Management LLC’s holdings in Schlumberger were worth $488,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Teachers Retirement System of The State of Kentucky increased its position in Schlumberger by 25.9% during the third quarter. Teachers Retirement System of The State of Kentucky now owns 761,875 shares of the oil and gas company’s stock worth $31,961,000 after buying an additional 156,698 shares during the last quarter. Wilmington Savings Fund Society FSB raised its stake in shares of Schlumberger by 27.0% in the 3rd quarter. Wilmington Savings Fund Society FSB now owns 76,838 shares of the oil and gas company’s stock valued at $3,223,000 after acquiring an additional 16,350 shares in the last quarter. Victory Capital Management Inc. lifted its holdings in Schlumberger by 8.7% in the 3rd quarter. Victory Capital Management Inc. now owns 817,771 shares of the oil and gas company’s stock worth $34,305,000 after purchasing an additional 65,318 shares during the last quarter. Concurrent Investment Advisors LLC boosted its position in Schlumberger by 269.1% during the third quarter. Concurrent Investment Advisors LLC now owns 19,718 shares of the oil and gas company’s stock worth $827,000 after purchasing an additional 14,376 shares during the period. Finally, Public Sector Pension Investment Board grew its holdings in Schlumberger by 0.6% during the second quarter. Public Sector Pension Investment Board now owns 1,901,713 shares of the oil and gas company’s stock valued at $89,723,000 after purchasing an additional 11,813 shares during the last quarter. Institutional investors own 81.99% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. Stifel Nicolaus decreased their price objective on shares of Schlumberger from $60.00 to $59.00 and set a “buy” rating for the company in a report on Monday, December 23rd. Susquehanna decreased their price target on shares of Schlumberger from $60.00 to $56.00 and set a “positive” rating for the company in a report on Monday, October 21st. Griffin Securities lowered Schlumberger from a “buy” rating to a “neutral” rating in a research note on Friday, December 20th. Bank of America decreased their target price on Schlumberger from $58.00 to $54.00 and set a “buy” rating for the company in a research note on Monday, October 14th. Finally, Barclays dropped their price target on Schlumberger from $61.00 to $53.00 and set an “overweight” rating on the stock in a research report on Wednesday, December 18th. Six investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $56.03.

Insider Activity at Schlumberger

In other news, EVP Abdellah Merad sold 60,000 shares of the firm’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 completion of the sale, the executive vice president now owns 211,937 shares of the company’s stock, valued at approximately $8,880,160.30. This trade represents a 22.06 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 0.26% of the stock is currently owned by insiders.

Schlumberger Trading Up 1.3 %

Shares of SLB opened at $41.16 on Friday. 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 stock has a market cap of $58.13 billion, a PE ratio of 13.24, a PEG ratio of 1.35 and a beta of 1.52. Schlumberger Limited has a 1 year low of $36.52 and a 1 year high of $55.69. The stock has a 50 day simple moving average of $40.89 and a 200-day simple moving average of $42.93.

Schlumberger (NYSE:SLB) last released its quarterly earnings data on Friday, October 18th. The oil and gas company reported $0.89 earnings per share (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 firm had revenue of $9.16 billion during the quarter, compared to analyst estimates of $9.27 billion. During the same period in the prior year, the company posted $0.78 earnings per share. The business’s revenue for the quarter was up 10.2% compared to the same quarter last year. On average, sell-side analysts predict that Schlumberger Limited will post 3.39 EPS for the current fiscal year.

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.