Schlumberger Limited (NYSE:SLB) Shares Sold by Carlton Hofferkamp & Jenks Wealth Management LLC

Carlton Hofferkamp & Jenks Wealth Management LLC cut its holdings in Schlumberger Limited (NYSE:SLB) by 6.4% in the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 9,023 shares of the oil and gas company’s stock after selling 615 shares during the quarter. Carlton Hofferkamp & Jenks Wealth Management LLC’s holdings in Schlumberger were worth $364,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. Financial Advocates Investment Management raised its stake in Schlumberger by 3.4% in the 2nd quarter. Financial Advocates Investment Management now owns 6,558 shares of the oil and gas company’s stock worth $309,000 after acquiring an additional 218 shares during the last quarter. Chilton Capital Management LLC increased its holdings in shares of Schlumberger by 0.8% in the second quarter. Chilton Capital Management LLC now owns 26,202 shares of the oil and gas company’s stock valued at $1,236,000 after purchasing an additional 219 shares during the period. Grove Bank & Trust raised its stake in shares of Schlumberger by 17.4% in the third quarter. Grove Bank & Trust now owns 1,514 shares of the oil and gas company’s stock worth $64,000 after purchasing an additional 224 shares during the last quarter. First PREMIER Bank lifted its holdings in shares of Schlumberger by 8.7% during the second quarter. First PREMIER Bank now owns 2,842 shares of the oil and gas company’s stock worth $134,000 after purchasing an additional 227 shares during the period. Finally, Addison Advisors LLC boosted its position in Schlumberger by 6.5% in the second quarter. Addison Advisors LLC now owns 3,794 shares of the oil and gas company’s stock valued at $179,000 after buying an additional 233 shares during the last quarter. Institutional investors and hedge funds own 81.99% of the company’s stock.

Schlumberger Stock Performance

NYSE:SLB opened at $44.34 on Wednesday. The company has a fifty day moving average of $42.26 and a two-hundred day moving average of $44.77. Schlumberger Limited has a fifty-two week low of $38.66 and a fifty-two week high of $55.69. The stock has a market capitalization of $62.61 billion, a PE ratio of 14.26, a P/E/G ratio of 1.56 and a beta of 1.52. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.12 and a current ratio of 1.48.

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

Schlumberger Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 9th. Investors of record on Wednesday, December 4th will be given a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a dividend yield of 2.48%. The ex-dividend date is Wednesday, December 4th. Schlumberger’s payout ratio is 35.37%.

Wall Street Analyst Weigh In

SLB has been the subject of a number of recent research reports. Barclays reduced their price target on shares of Schlumberger from $67.00 to $63.00 and set an “overweight” rating for the company in a research report on Wednesday, October 16th. 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 report on Monday, October 21st. JPMorgan Chase & Co. lowered their price target on shares of Schlumberger from $64.00 to $60.00 and set an “overweight” rating on the stock in a report on Tuesday, October 1st. Susquehanna reduced their price objective on Schlumberger from $60.00 to $56.00 and set a “positive” rating for the company in a research note on Monday, October 21st. Finally, Wells Fargo & Company decreased their price objective on Schlumberger from $53.00 to $49.00 and set an “equal weight” rating for the company in a report on Wednesday, September 25th. Two analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $60.97.

Insider Activity at Schlumberger

In other Schlumberger news, EVP Abdellah Merad sold 60,000 shares of Schlumberger 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 owns 211,937 shares of the company’s stock, valued at $8,880,160.30. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.26% of the stock is owned by corporate insiders.

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.