Wedbush Securities Inc. reduced its position in shares of Schlumberger Limited. (NYSE:SLB) by 3.4% in the third quarter, according to its most recent filing with the SEC. The fund owned 36,020 shares of the oil and gas company’s stock after selling 1,282 shares during the quarter. Wedbush Securities Inc.’s holdings in Schlumberger were worth $2,194,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Zions Bancorporation acquired a new stake in shares of Schlumberger during the third quarter worth about $131,000. Truvestments Capital LLC purchased a new stake in shares of Schlumberger in the third quarter valued at approximately $132,000. Whitener Capital Management Inc. purchased a new stake in shares of Schlumberger during the third quarter worth approximately $137,000. Westbourne Investment Advisors Inc. purchased a new stake in shares of Schlumberger during the third quarter worth approximately $158,000. Finally, NuWave Investment Management LLC increased its position in shares of Schlumberger by 5,526.5% during the third quarter. NuWave Investment Management LLC now owns 2,757 shares of the oil and gas company’s stock worth $168,000 after purchasing an additional 2,708 shares in the last quarter. Hedge funds and other institutional investors own 77.74% of the company’s stock.

Schlumberger stock traded down $1.66 during midday trading on Wednesday, reaching $44.12. The stock had a trading volume of 12,978,091 shares, compared to its average volume of 11,271,714. Schlumberger Limited. has a twelve month low of $44.02 and a twelve month high of $80.35. The stock has a market capitalization of $62.45 billion, a P/E ratio of 29.41, a PEG ratio of 4.57 and a beta of 1.04. The company has a current ratio of 1.13, a quick ratio of 0.85 and a debt-to-equity ratio of 0.38.

Schlumberger (NYSE:SLB) last issued its quarterly earnings data on Friday, October 19th. The oil and gas company reported $0.46 EPS for the quarter, topping the Zacks’ consensus estimate of $0.45 by $0.01. The company had revenue of $8.50 billion for the quarter, compared to analysts’ expectations of $8.57 billion. Schlumberger had a positive return on equity of 6.55% and a negative net margin of 2.00%. The firm’s quarterly revenue was up 7.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.42 earnings per share. As a group, sell-side analysts predict that Schlumberger Limited. will post 1.69 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 11th. Shareholders of record on Wednesday, December 5th will be paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.53%. The ex-dividend date is Tuesday, December 4th. Schlumberger’s dividend payout ratio is presently 133.33%.

Several equities analysts recently issued reports on the company. Tudor Pickering lowered Schlumberger from a “buy” rating to a “hold” rating in a research note on Tuesday, October 2nd. HSBC upgraded Schlumberger from a “hold” rating to a “buy” rating in a report on Sunday. ValuEngine downgraded Schlumberger from a “hold” rating to a “sell” rating in a report on Tuesday, September 4th. Credit Suisse Group dropped their price target on Schlumberger from $82.00 to $71.00 and set an “outperform” rating on the stock in a research note on Monday, October 22nd. Finally, UBS Group decreased their price objective on Schlumberger from $92.00 to $75.00 and set a “buy” rating for the company in a research report on Monday, October 22nd. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and seventeen have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $75.67.

In related news, CFO Simon Ayat sold 60,000 shares of the business’s stock in a transaction dated Tuesday, October 30th. The stock was sold at an average price of $56.60, for a total value of $3,396,000.00. Following the transaction, the chief financial officer now owns 234,008 shares in the company, valued at $13,244,852.80. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Michael E. Marks purchased 8,000 shares of the business’s stock in a transaction that occurred on Thursday, September 6th. The stock was acquired at an average price of $60.31 per share, for a total transaction of $482,480.00. The disclosure for this purchase can be found here. Insiders own 0.48% of the company’s stock.

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Schlumberger Profile

Schlumberger Limited supplies technology products and services to the oil and gas exploration and production industry worldwide. The company's Reservoir Characterization Group segment provides reservoir interpretation and data processing services; open and cased-hole services; slickline services; exploration and production pressure and flow-rate measurement services at the surface and downhole; software integrated solutions, such as software, consulting, information management, and IT infrastructure services; consulting services for reservoir characterization, field development planning, and production enhancement; and petrotechnical data services and training solutions, as well as integrated management services.

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Institutional Ownership by Quarter for Schlumberger (NYSE:SLB)

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