Nations Financial Group Inc. IA ADV Decreases Stock Holdings in Schlumberger Limited (NYSE:SLB)

Nations Financial Group Inc. IA ADV decreased its holdings in shares of Schlumberger Limited (NYSE:SLB) by 23.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,492 shares of the oil and gas company’s stock after selling 1,940 shares during the period. Nations Financial Group Inc. IA ADV’s holdings in Schlumberger were worth $272,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently added to or reduced their stakes in the company. Capital World Investors increased its stake in shares of Schlumberger by 72.3% in the 1st quarter. Capital World Investors now owns 88,950,956 shares of the oil and gas company’s stock worth $4,875,402,000 after acquiring an additional 37,333,485 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of Schlumberger by 14.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 85,986,039 shares of the oil and gas company’s stock worth $4,712,897,000 after purchasing an additional 10,606,191 shares during the last quarter. Boston Partners increased its position in shares of Schlumberger by 35.8% during the 1st quarter. Boston Partners now owns 11,640,827 shares of the oil and gas company’s stock worth $635,883,000 after purchasing an additional 3,069,395 shares during the last quarter. Ceredex Value Advisors LLC purchased a new position in Schlumberger during the 2nd quarter valued at about $92,944,000. Finally, 1832 Asset Management L.P. purchased a new position in Schlumberger during the 2nd quarter valued at about $91,364,000. 81.99% of the stock is owned by institutional investors and hedge funds.

Schlumberger Trading Down 0.3 %

Shares of NYSE SLB opened at $43.45 on Friday. The company has a market cap of $61.36 billion, a price-to-earnings ratio of 13.97, a price-to-earnings-growth ratio of 1.56 and a beta of 1.52. Schlumberger Limited has a 12-month low of $38.66 and a 12-month high of $55.69. 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’s 50 day simple moving average is $42.31 and its 200 day simple moving average is $44.76.

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, topping the consensus estimate of $0.88 by $0.01. The business had revenue of $9.16 billion for the quarter, compared to the consensus estimate of $9.27 billion. Schlumberger had a return on equity of 21.84% and a net margin of 12.44%. The business’s revenue was up 10.2% on a year-over-year basis. During the same quarter last year, the business posted $0.78 EPS. Equities research analysts expect that Schlumberger Limited will post 3.4 EPS for the current year.

Schlumberger Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 9th. Stockholders of record on Wednesday, December 4th will be paid a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a dividend yield of 2.53%. The ex-dividend date of this dividend is Wednesday, December 4th. Schlumberger’s dividend payout ratio is presently 35.37%.

Insider Buying and Selling

In other Schlumberger news, EVP Abdellah Merad sold 60,000 shares of the business’s 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 transaction, the executive vice president now owns 211,937 shares in the company, valued at $8,880,160.30. The trade was a 22.06 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 0.26% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on SLB shares. JPMorgan Chase & Co. decreased their price objective on Schlumberger from $64.00 to $60.00 and set an “overweight” rating for the company in a research note on Tuesday, October 1st. Bank of America cut their target price on Schlumberger from $58.00 to $54.00 and set a “buy” rating on the stock in a research report on Monday, October 14th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $69.00 price target on shares of Schlumberger in a research report on Thursday, October 3rd. TD Cowen cut their price target on Schlumberger from $68.00 to $65.00 and set a “buy” rating on the stock in a research report on Monday, October 21st. Finally, Stifel Nicolaus reissued a “buy” rating and issued a $60.00 target price (down previously from $62.00) on shares of Schlumberger in a report on Monday, October 21st. 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 stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $60.97.

About Schlumberger

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.