1620 Investment Advisors Inc. Lowers Holdings in Schlumberger Limited (NYSE:SLB)

1620 Investment Advisors Inc. trimmed its position in Schlumberger Limited (NYSE:SLB) by 76.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,328 shares of the oil and gas company’s stock after selling 7,635 shares during the quarter. 1620 Investment Advisors Inc.’s holdings in Schlumberger were worth $98,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Cornerstone Wealth Group LLC raised its position in Schlumberger by 7.0% during the 3rd quarter. Cornerstone Wealth Group LLC now owns 62,549 shares of the oil and gas company’s stock worth $2,624,000 after buying an additional 4,070 shares during the last quarter. Tandem Capital Management Corp ADV purchased a new stake in shares of Schlumberger in the third quarter valued at $1,487,000. Avitas Wealth Management LLC lifted its position in Schlumberger by 1.0% during the third quarter. Avitas Wealth Management LLC now owns 85,875 shares of the oil and gas company’s stock valued at $3,602,000 after buying an additional 810 shares in the last quarter. Childress Capital Advisors LLC increased its holdings in Schlumberger by 146.5% in the 3rd quarter. Childress Capital Advisors LLC now owns 10,948 shares of the oil and gas company’s stock valued at $459,000 after purchasing an additional 6,506 shares in the last quarter. Finally, Nicholas Hoffman & Company LLC. boosted its position in shares of Schlumberger by 19.7% in the third quarter. Nicholas Hoffman & Company LLC. now owns 14,374 shares of the oil and gas company’s stock worth $603,000 after buying an additional 2,367 shares during the period. 81.99% of the stock is owned by hedge funds and other institutional investors.

Schlumberger Price Performance

NYSE:SLB opened at $40.16 on Thursday. The firm’s fifty day moving average price is $42.63 and its two-hundred day moving average price is $45.31. 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 company has a market cap of $57.40 billion, a P/E ratio of 13.34, a P/E/G ratio of 1.47 and a beta of 1.51. Schlumberger Limited has a one year low of $38.66 and a one year high of $57.75.

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

Schlumberger Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 9th. Stockholders of record on Wednesday, December 4th will be paid a $0.275 dividend. The ex-dividend date is Wednesday, December 4th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 2.74%. Schlumberger’s payout ratio is currently 36.54%.

Insiders Place Their Bets

In related news, EVP Abdellah Merad sold 60,000 shares of the stock in a transaction on Thursday, October 24th. The stock was sold at an average price of $41.90, for a total value of $2,514,000.00. Following the completion of the sale, the executive vice president now directly owns 211,937 shares in the company, valued at $8,880,160.30. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.26% of the company’s stock.

Analysts Set New Price Targets

SLB has been the topic of a number of recent analyst reports. Stifel Nicolaus reiterated a “buy” rating and issued a $60.00 price objective (down previously from $62.00) on shares of Schlumberger in a report on Monday, October 21st. Wells Fargo & Company lowered their price objective on shares of Schlumberger from $53.00 to $49.00 and set an “equal weight” rating for the company in a research report on Wednesday, September 25th. Citigroup reduced their price target on shares of Schlumberger from $60.00 to $54.00 and set a “buy” rating for the company in a report on Tuesday, October 22nd. BMO Capital Markets reduced their price objective on Schlumberger from $60.00 to $58.00 and set an “outperform” rating for the company in a research report on Thursday, October 10th. Finally, Barclays lowered their price target on Schlumberger from $67.00 to $63.00 and set an “overweight” rating on the stock in a report on Wednesday, October 16th. Two equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $60.97.

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.