Silvercrest Asset Management Group LLC Sells 1,939 Shares of Schlumberger Limited (NYSE:SLB)

Silvercrest Asset Management Group LLC lowered its position in shares of Schlumberger Limited (NYSE:SLB) by 5.4% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 33,810 shares of the oil and gas company’s stock after selling 1,939 shares during the quarter. Silvercrest Asset Management Group LLC’s holdings in Schlumberger were worth $1,853,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Carolinas Wealth Consulting LLC boosted its position in Schlumberger by 53.5% in the fourth quarter. Carolinas Wealth Consulting LLC now owns 1,960 shares of the oil and gas company’s stock worth $102,000 after purchasing an additional 683 shares during the last quarter. Asset Management One Co. Ltd. boosted its holdings in shares of Schlumberger by 6.3% in the 4th quarter. Asset Management One Co. Ltd. now owns 607,312 shares of the oil and gas company’s stock worth $31,726,000 after buying an additional 35,763 shares during the last quarter. National Bank of Canada FI increased its holdings in Schlumberger by 15.0% during the first quarter. National Bank of Canada FI now owns 396,382 shares of the oil and gas company’s stock worth $21,726,000 after buying an additional 51,637 shares during the last quarter. Sapient Capital LLC bought a new stake in Schlumberger in the fourth quarter worth about $1,389,000. Finally, Mission Wealth Management LP purchased a new position in Schlumberger in the first quarter valued at about $245,000. Hedge funds and other institutional investors own 81.99% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on SLB shares. BMO Capital Markets decreased their price target on shares of Schlumberger from $66.00 to $64.00 and set an “outperform” rating for the company in a research note on Monday, April 22nd. HSBC reaffirmed a “buy” rating and set a $71.00 price target on shares of Schlumberger in a research report on Thursday, April 4th. StockNews.com lowered Schlumberger from a “buy” rating to a “hold” rating in a report on Thursday, June 6th. Barclays dropped their price objective on shares of Schlumberger from $70.00 to $67.00 and set an “overweight” rating on the stock in a report on Tuesday, July 23rd. Finally, Stifel Nicolaus reiterated a “buy” rating and issued a $64.00 target price on shares of Schlumberger in a research note on Monday, April 22nd. Two research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. According to MarketBeat, Schlumberger currently has a consensus rating of “Moderate Buy” and a consensus target price of $67.56.

Insider Transactions at Schlumberger

In other news, CTO Demosthenis Pafitis sold 63,095 shares of Schlumberger stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $48.26, for a total transaction of $3,044,964.70. Following the completion of the sale, the chief technology officer now directly owns 33,421 shares of the company’s stock, valued at approximately $1,612,897.46. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Schlumberger news, Director Vijay Kasibhatla sold 10,000 shares of the stock in a transaction that occurred on Monday, July 22nd. The shares were sold at an average price of $49.29, for a total transaction of $492,900.00. Following the transaction, the director now directly owns 62,354 shares in the company, valued at $3,073,428.66. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CTO Demosthenis Pafitis sold 63,095 shares of the business’s stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $48.26, for a total transaction of $3,044,964.70. Following the completion of the sale, the chief technology officer now owns 33,421 shares of the company’s stock, valued at $1,612,897.46. The disclosure for this sale can be found here. Insiders have sold 286,874 shares of company stock valued at $14,148,517 in the last quarter. Insiders own 0.26% of the company’s stock.

Schlumberger Price Performance

NYSE:SLB opened at $47.61 on Wednesday. Schlumberger Limited has a 52-week low of $42.61 and a 52-week high of $62.12. The stock has a fifty day moving average of $46.30 and a 200 day moving average of $48.96. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.13 and a current ratio of 1.49. The firm has a market capitalization of $67.60 billion, a price-to-earnings ratio of 15.82, a P/E/G ratio of 1.02 and a beta of 1.55.

Schlumberger (NYSE:SLB) last released its quarterly earnings results on Friday, July 19th. The oil and gas company reported $0.85 earnings per share for the quarter, beating the consensus estimate of $0.83 by $0.02. Schlumberger had a return on equity of 21.92% and a net margin of 12.56%. The firm had revenue of $9.14 billion for the quarter, compared to analysts’ expectations of $9.08 billion. During the same quarter last year, the firm posted $0.72 EPS. The company’s revenue was up 12.8% compared to the same quarter last year. On average, research analysts expect that Schlumberger Limited will post 3.49 EPS for the current fiscal year.

Schlumberger Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 10th. Shareholders of record on Wednesday, September 4th will be paid a $0.275 dividend. The ex-dividend date is Wednesday, September 4th. This represents a $1.10 dividend on an annualized basis and a yield of 2.31%. Schlumberger’s dividend payout ratio is presently 36.54%.

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.