SeaCrest Wealth Management LLC Decreases Stake in Schlumberger Limited (NYSE:SLB)

SeaCrest Wealth Management LLC reduced its stake in shares of Schlumberger Limited (NYSE:SLB) by 4.4% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 16,737 shares of the oil and gas company’s stock after selling 765 shares during the period. SeaCrest Wealth Management LLC’s holdings in Schlumberger were worth $868,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in the stock. BluePath Capital Management LLC purchased a new stake in shares of Schlumberger in the 3rd quarter worth about $25,000. Acadian Asset Management LLC acquired a new position in shares of Schlumberger during the 1st quarter valued at about $25,000. Coppell Advisory Solutions LLC acquired a new stake in Schlumberger during the 2nd quarter worth approximately $27,000. MCF Advisors LLC boosted its holdings in Schlumberger by 1,355.9% in the 3rd quarter. MCF Advisors LLC now owns 495 shares of the oil and gas company’s stock worth $29,000 after acquiring an additional 461 shares during the period. Finally, Indiana Trust & Investment Management CO purchased a new position in Schlumberger in the 3rd quarter worth approximately $31,000. 81.99% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Schlumberger

In related news, CFO Stephane Biguet sold 6,250 shares of the stock in a transaction on Monday, February 26th. The stock was sold at an average price of $48.64, for a total value of $304,000.00. Following the completion of the transaction, the chief financial officer now owns 242,932 shares in the company, valued at approximately $11,816,212.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Schlumberger news, CFO Stephane Biguet sold 6,250 shares of the firm’s stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $48.64, for a total transaction of $304,000.00. Following the completion of the sale, the chief financial officer now directly owns 242,932 shares in the company, valued at approximately $11,816,212.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Abdellah Merad sold 50,000 shares of the firm’s stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $48.52, for a total value of $2,426,000.00. Following the sale, the executive vice president now owns 261,507 shares of the company’s stock, valued at $12,688,319.64. The disclosure for this sale can be found here. Insiders sold 172,191 shares of company stock worth $8,636,322 in the last quarter. 0.26% of the stock is owned by company insiders.

Schlumberger Price Performance

NYSE:SLB traded down $0.09 during mid-day trading on Friday, reaching $54.81. 8,032,377 shares of the stock were exchanged, compared to its average volume of 8,372,973. The business has a fifty day moving average price of $50.37 and a 200 day moving average price of $53.18. The firm has a market capitalization of $78.24 billion, a PE ratio of 18.77, a PEG ratio of 0.99 and a beta of 1.59. Schlumberger Limited has a 1-year low of $42.73 and a 1-year high of $62.12. The company has a current ratio of 1.32, a quick ratio of 1.00 and a debt-to-equity ratio of 0.51.

Schlumberger (NYSE:SLB) last released its quarterly earnings results on Friday, January 19th. The oil and gas company reported $0.86 earnings per share for the quarter, beating analysts’ consensus estimates of $0.84 by $0.02. Schlumberger had a return on equity of 21.97% and a net margin of 12.68%. The business had revenue of $8.99 billion during the quarter, compared to analyst estimates of $8.96 billion. During the same quarter last year, the company posted $0.71 EPS. Schlumberger’s revenue for the quarter was up 14.1% on a year-over-year basis. Research analysts expect that Schlumberger Limited will post 3.54 earnings per share for the current fiscal year.

Schlumberger Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 4th. Investors of record on Wednesday, February 7th will be given a $0.25 dividend. The ex-dividend date is Tuesday, February 6th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.82%. Schlumberger’s dividend payout ratio (DPR) is 34.25%.

Analysts Set New Price Targets

SLB has been the subject of several research analyst reports. Stifel Nicolaus increased their target price on Schlumberger from $63.00 to $64.00 and gave the company a “buy” rating in a research note on Monday, January 22nd. Royal Bank of Canada restated an “outperform” rating and set a $66.00 price objective on shares of Schlumberger in a research note on Thursday, February 8th. Wells Fargo & Company increased their target price on Schlumberger from $69.00 to $70.00 and gave the stock an “overweight” rating in a research report on Monday, January 22nd. Susquehanna reaffirmed a “positive” rating and issued a $77.00 target price on shares of Schlumberger in a research report on Tuesday, February 13th. Finally, Barclays dropped their target price on Schlumberger from $77.00 to $74.00 and set an “overweight” rating on the stock in a research report on Monday, January 22nd. One research analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $70.87.

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.