Schlumberger Limited (NYSE:SLB) Shares Sold by Mizuho Securities USA LLC

Mizuho Securities USA LLC lessened its stake in Schlumberger Limited (NYSE:SLB) by 16.5% during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 92,079 shares of the oil and gas company’s stock after selling 18,130 shares during the quarter. Mizuho Securities USA LLC’s holdings in Schlumberger were worth $3,863,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. Acadian Asset Management LLC grew its position in shares of Schlumberger by 4.1% in the 1st quarter. Acadian Asset Management LLC now owns 8,638 shares of the oil and gas company’s stock worth $471,000 after acquiring an additional 337 shares in the last quarter. CreativeOne Wealth LLC raised its holdings in shares of Schlumberger by 53.3% during the first quarter. CreativeOne Wealth LLC now owns 6,302 shares of the oil and gas company’s stock worth $345,000 after purchasing an additional 2,192 shares during the period. Axxcess Wealth Management LLC lifted its position in shares of Schlumberger by 10.3% in the 1st quarter. Axxcess Wealth Management LLC now owns 35,770 shares of the oil and gas company’s stock worth $1,961,000 after buying an additional 3,344 shares during the last quarter. Canada Pension Plan Investment Board lifted its position in shares of Schlumberger by 9.0% in the 1st quarter. Canada Pension Plan Investment Board now owns 788,484 shares of the oil and gas company’s stock worth $43,217,000 after buying an additional 64,974 shares during the last quarter. Finally, Linscomb Wealth Inc. grew its position in shares of Schlumberger by 14.5% during the 1st quarter. Linscomb Wealth Inc. now owns 12,695 shares of the oil and gas company’s stock valued at $696,000 after buying an additional 1,608 shares during the last quarter. Institutional investors own 81.99% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on SLB shares. Sanford C. Bernstein upgraded Schlumberger to a “strong-buy” rating in a research note on Tuesday, November 12th. Barclays lowered their price objective on Schlumberger from $67.00 to $63.00 and set an “overweight” rating for the company in a research note on Wednesday, October 16th. BMO Capital Markets reduced their price target on shares of Schlumberger from $60.00 to $58.00 and set an “outperform” rating for the company in a report on Thursday, October 10th. Evercore ISI cut their price objective on shares of Schlumberger from $74.00 to $62.00 and set an “outperform” rating on the stock in a research report on Monday, October 21st. Finally, TD Cowen reduced their target price on shares of Schlumberger from $68.00 to $65.00 and set a “buy” rating for the company in a research note on Monday, October 21st. Two equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $60.97.

Schlumberger Stock Up 1.3 %

SLB stock opened at $44.10 on Friday. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.48 and a quick ratio of 1.12. The firm has a market cap of $62.28 billion, a PE ratio of 14.18, a P/E/G ratio of 1.52 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 firm has a 50 day simple moving average of $42.70 and a 200 day simple moving average of $44.60.

Schlumberger (NYSE:SLB) last released its quarterly earnings data on Friday, October 18th. The oil and gas company reported $0.89 earnings per share for the quarter, topping the consensus estimate of $0.88 by $0.01. The business had revenue of $9.16 billion during the quarter, compared to analyst estimates of $9.27 billion. Schlumberger had a return on equity of 21.84% and a net margin of 12.44%. The company’s revenue was up 10.2% compared to the same quarter last year. During the same period last year, the company posted $0.78 EPS. Equities research analysts forecast that Schlumberger Limited will post 3.4 earnings per share for the current fiscal year.

Schlumberger Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 9th. Shareholders of record on Wednesday, December 4th will be issued a dividend of $0.275 per share. The ex-dividend date is Wednesday, December 4th. This represents a $1.10 annualized dividend and a yield of 2.49%. Schlumberger’s payout ratio is presently 35.37%.

Insider Buying and Selling at Schlumberger

In other Schlumberger news, EVP Abdellah Merad sold 60,000 shares of the business’s stock in a transaction on 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 directly owns 211,937 shares of the company’s stock, valued at $8,880,160.30. The trade was a 22.06 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.26% of the company’s stock.

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.