PSI Advisors LLC Reduces Position in Schlumberger Limited (NYSE:SLB)

PSI Advisors LLC trimmed its position in shares of Schlumberger Limited (NYSE:SLB) by 17.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,319 shares of the oil and gas company’s stock after selling 1,299 shares during the period. PSI Advisors LLC’s holdings in Schlumberger were worth $242,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of SLB. ORG Partners LLC increased its stake in shares of Schlumberger by 393.5% during the third quarter. ORG Partners LLC now owns 607 shares of the oil and gas company’s stock valued at $25,000 after buying an additional 484 shares during the period. Prospera Private Wealth LLC bought a new stake in Schlumberger in the third quarter valued at $29,000. Ashton Thomas Securities LLC purchased a new position in Schlumberger during the 3rd quarter valued at $37,000. DiNuzzo Private Wealth Inc. raised its holdings in Schlumberger by 1,068.3% in the 3rd quarter. DiNuzzo Private Wealth Inc. now owns 958 shares of the oil and gas company’s stock worth $40,000 after purchasing an additional 876 shares in the last quarter. Finally, J. Stern & Co. LLP purchased a new stake in shares of Schlumberger in the 3rd quarter worth about $47,000. Institutional investors own 81.99% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the stock. Griffin Securities downgraded shares of Schlumberger from a “buy” rating to a “neutral” rating in a research note on Friday, December 20th. Sanford C. Bernstein raised Schlumberger to a “strong-buy” rating in a research report on Tuesday, November 12th. Citigroup dropped their price target on Schlumberger from $53.00 to $50.00 and set a “buy” rating on the stock in a research report on Thursday, December 19th. Wells Fargo & Company decreased their price objective on Schlumberger from $49.00 to $46.00 and set an “equal weight” rating for the company in a report on Tuesday, December 17th. Finally, Susquehanna dropped their target price on shares of Schlumberger from $60.00 to $56.00 and set a “positive” rating on the stock in a report on Monday, October 21st. Five investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Schlumberger has an average rating of “Moderate Buy” and a consensus target price of $57.58.

Schlumberger Price Performance

Shares of SLB opened at $39.84 on Tuesday. Schlumberger Limited has a twelve month low of $36.52 and a twelve month high of $55.69. The company has a market capitalization of $56.26 billion, a P/E ratio of 12.81, a price-to-earnings-growth ratio of 1.42 and a beta of 1.52. The firm has a 50 day moving average of $40.96 and a 200 day moving average of $43.00. The company has a quick ratio of 1.12, a current ratio of 1.48 and a debt-to-equity ratio of 0.52.

Schlumberger (NYSE:SLB) last posted its earnings results on Friday, October 18th. The oil and gas company reported $0.89 EPS for the quarter, topping analysts’ consensus estimates 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 quarterly revenue was up 10.2% compared to the same quarter last year. During the same quarter last year, the company earned $0.78 EPS. As a group, equities research analysts anticipate that Schlumberger Limited will post 3.39 earnings per share for the current fiscal year.

Schlumberger Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, January 9th. Shareholders of record on Wednesday, December 4th were paid a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a yield of 2.76%. The ex-dividend date of this dividend was Wednesday, December 4th. Schlumberger’s dividend payout ratio is currently 35.37%.

Insider Activity

In related news, EVP Abdellah Merad sold 60,000 shares of the stock in a transaction that occurred 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 transaction, the executive vice president now owns 211,937 shares in the company, valued at $8,880,160.30. This represents a 22.06 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.26% of the company’s stock.

Schlumberger Company 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.