Pacifica Partners Inc. Sells 1,265 Shares of Schlumberger Limited (NYSE:SLB)

Pacifica Partners Inc. lessened its stake in Schlumberger Limited (NYSE:SLB) by 1.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 94,499 shares of the oil and gas company’s stock after selling 1,265 shares during the period. Schlumberger comprises about 1.6% of Pacifica Partners Inc.’s holdings, making the stock its 19th largest holding. Pacifica Partners Inc.’s holdings in Schlumberger were worth $3,628,000 as of its most recent filing with the Securities and Exchange Commission.

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

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. Dbs Bank assumed coverage on shares of Schlumberger in a research report on Wednesday, September 18th. They set a “buy” rating and a $64.50 price objective on the stock. Evercore ISI lowered their price objective on shares of Schlumberger from $74.00 to $62.00 and set an “outperform” rating for the company in a report on Monday, October 21st. JPMorgan Chase & Co. cut their price objective on Schlumberger from $55.00 to $48.00 and set an “overweight” rating on the stock in a research report on Thursday, January 2nd. Wells Fargo & Company decreased their target price on Schlumberger from $49.00 to $46.00 and set an “equal weight” rating for the company in a research report on Tuesday, December 17th. Finally, Atb Cap Markets lowered Schlumberger from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 10th. Five analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Schlumberger has a consensus rating of “Moderate Buy” and an average target price of $57.58.

Schlumberger Price Performance

Shares of NYSE SLB opened at $39.95 on Wednesday. The firm has a market cap of $56.42 billion, a P/E ratio of 12.85, a PEG ratio of 1.42 and a beta of 1.52. Schlumberger Limited has a twelve month low of $36.52 and a twelve month high of $55.69. The company has a quick ratio of 1.12, a current ratio of 1.48 and a debt-to-equity ratio of 0.52. The company has a 50 day moving average of $40.95 and a 200 day moving average of $42.95.

Schlumberger (NYSE:SLB) last posted its quarterly earnings results 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. Schlumberger had a return on equity of 21.84% and a net margin of 12.44%. The firm had revenue of $9.16 billion during the quarter, compared to analysts’ expectations of $9.27 billion. During the same quarter in the previous year, the business earned $0.78 earnings per share. The company’s revenue was up 10.2% on a year-over-year basis. As a group, research analysts expect that Schlumberger Limited will post 3.39 EPS 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 2.75%. The ex-dividend date 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.

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.