Miracle Mile Advisors LLC Sells 107,303 Shares of Schlumberger Limited (NYSE:SLB)

Miracle Mile Advisors LLC decreased its stake in Schlumberger Limited (NYSE:SLB) by 94.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,673 shares of the oil and gas company’s stock after selling 107,303 shares during the period. Miracle Mile Advisors LLC’s holdings in Schlumberger were worth $256,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. Grove Bank & Trust raised its position in 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 in the last quarter. M&R Capital Management Inc. increased its position in shares of Schlumberger by 1.7% during 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 during the last quarter. GM Advisory Group LLC raised its holdings 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 in the last quarter. Cordatus Wealth Management LLC lifted its position in Schlumberger by 2.1% in the 3rd 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 during the last quarter. Finally, OneDigital Investment Advisors LLC boosted its stake in 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 in the last quarter. Hedge funds and other institutional investors own 81.99% of the company’s stock.

Schlumberger Stock Up 1.3 %

SLB stock opened at $41.16 on Friday. Schlumberger Limited has a fifty-two week low of $36.52 and a fifty-two week high of $55.69. The company has a market capitalization of $58.13 billion, a price-to-earnings ratio of 13.24, a price-to-earnings-growth ratio of 1.35 and a beta of 1.52. The business’s 50 day moving average price is $40.89 and its two-hundred day moving average price is $42.93. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.12 and a current ratio of 1.48.

Schlumberger (NYSE:SLB) last posted its quarterly earnings data on Friday, October 18th. The oil and gas company reported $0.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.88 by $0.01. Schlumberger had a return on equity of 21.84% and a net margin of 12.44%. The business had revenue of $9.16 billion during the quarter, compared to the consensus estimate of $9.27 billion. During the same quarter in the prior year, the company earned $0.78 earnings per share. The firm’s quarterly revenue was up 10.2% compared to the same quarter last year. As a group, analysts forecast that Schlumberger Limited will post 3.39 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on SLB shares. Evercore ISI restated an “in-line” rating and issued a $44.00 price objective (down from $62.00) on shares of Schlumberger in a report on Wednesday. Barclays cut their price target on shares of Schlumberger from $61.00 to $53.00 and set an “overweight” rating for the company in a research report on Wednesday, December 18th. Atb Cap Markets downgraded Schlumberger from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 10th. Citigroup dropped their target price on Schlumberger from $53.00 to $50.00 and set a “buy” rating for the company in a report on Thursday, December 19th. Finally, TD Cowen decreased their price target on Schlumberger from $65.00 to $53.00 and set a “buy” rating on the stock in a research note on Wednesday, January 8th. Six equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Schlumberger has an average rating of “Moderate Buy” and an average price target of $56.03.

Insider Transactions at Schlumberger

In related news, EVP Abdellah Merad sold 60,000 shares of the business’s stock in a transaction dated 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 owns 211,937 shares of the company’s stock, valued at $8,880,160.30. The trade was a 22.06 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.26% of the company’s stock.

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.