CreativeOne Wealth LLC Trims Holdings in Schlumberger Limited (NYSE:SLB)

CreativeOne Wealth LLC reduced its position in shares of Schlumberger Limited (NYSE:SLB) by 19.4% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,915 shares of the oil and gas company’s stock after selling 1,182 shares during the period. CreativeOne Wealth LLC’s holdings in Schlumberger were worth $206,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in SLB. Ceredex Value Advisors LLC acquired a new stake in Schlumberger in the second quarter worth $92,944,000. 1832 Asset Management L.P. acquired a new stake in Schlumberger in the second quarter worth $91,364,000. Legal & General Group Plc increased its position in Schlumberger by 14.0% in the second quarter. Legal & General Group Plc now owns 12,686,384 shares of the oil and gas company’s stock worth $598,544,000 after buying an additional 1,560,684 shares during the period. Dimensional Fund Advisors LP increased its position in Schlumberger by 14.9% in the second quarter. Dimensional Fund Advisors LP now owns 7,067,465 shares of the oil and gas company’s stock worth $333,445,000 after buying an additional 915,705 shares during the period. Finally, Merewether Investment Management LP acquired a new stake in Schlumberger in the second quarter worth $42,957,000. 81.99% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Schlumberger

In other news, EVP Abdellah Merad sold 60,000 shares of Schlumberger stock in a transaction that occurred on Thursday, October 24th. The stock was 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 approximately $8,880,160.30. This trade represents a 22.06 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.26% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on SLB shares. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $69.00 target price on shares of Schlumberger in a research report on Thursday, October 3rd. UBS Group decreased their price target on Schlumberger from $63.00 to $57.00 and set a “buy” rating for the company in a research note on Wednesday, September 18th. Citigroup decreased their price target on Schlumberger from $60.00 to $54.00 and set a “buy” rating for the company in a research note on Tuesday, October 22nd. JPMorgan Chase & Co. decreased their price target on Schlumberger from $64.00 to $60.00 and set an “overweight” rating for the company in a research note on Tuesday, October 1st. Finally, BMO Capital Markets decreased their price target on Schlumberger from $60.00 to $58.00 and set an “outperform” rating for the company in a research note on Thursday, October 10th. Two equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $60.97.

Schlumberger Stock Up 0.1 %

Shares of SLB stock opened at $43.66 on Wednesday. The stock’s 50 day simple moving average is $43.01 and its 200 day simple moving average is $44.29. 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 Limited has a twelve month low of $38.66 and a twelve month high of $55.69. The company has a market capitalization of $61.65 billion, a price-to-earnings ratio of 14.04, a PEG ratio of 1.54 and a beta of 1.51.

Schlumberger (NYSE:SLB) last issued its quarterly earnings data 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 return on equity of 21.84% and a net margin of 12.44%. The business had revenue of $9.16 billion for the quarter, compared to the consensus estimate of $9.27 billion. The firm’s revenue was up 10.2% compared to the same quarter last year. During the same period last year, the business earned $0.78 EPS. As a group, research analysts predict that Schlumberger Limited will post 3.39 EPS for the current year.

Schlumberger Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 9th. Shareholders of record on Wednesday, December 4th will be issued a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a yield of 2.52%. The ex-dividend date is Wednesday, December 4th. Schlumberger’s dividend payout ratio (DPR) is currently 35.37%.

Schlumberger 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.