Integrated Wealth Concepts LLC Sells 2,336 Shares of Schlumberger Limited (NYSE:SLB)

Integrated Wealth Concepts LLC lowered its position in Schlumberger Limited (NYSE:SLB) by 4.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 54,847 shares of the oil and gas company’s stock after selling 2,336 shares during the period. Integrated Wealth Concepts LLC’s holdings in Schlumberger were worth $2,103,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the business. YANKCOM Partnership acquired a new stake in shares of Schlumberger during the fourth quarter worth about $31,000. Stonebridge Financial Group LLC acquired a new stake in Schlumberger during the 4th quarter worth approximately $32,000. Golden State Wealth Management LLC bought a new position in Schlumberger in the fourth quarter valued at approximately $34,000. Hager Investment Management Services LLC acquired a new position in shares of Schlumberger in the fourth quarter valued at approximately $38,000. Finally, Bogart Wealth LLC increased its position in shares of Schlumberger by 468.9% during the fourth quarter. Bogart Wealth LLC now owns 1,024 shares of the oil and gas company’s stock worth $39,000 after acquiring an additional 844 shares in the last quarter. Institutional investors and hedge funds own 81.99% of the company’s stock.

Insider Buying and Selling

In other news, insider Gavin Rennick sold 26,990 shares of the firm’s stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $40.92, for a total transaction of $1,104,430.80. Following the transaction, the insider now directly owns 53,584 shares of the company’s stock, valued at approximately $2,192,657.28. This trade represents a 33.50 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Abdellah Merad sold 60,000 shares of the business’s stock in a transaction that occurred on Wednesday, January 29th. The shares were sold at an average price of $41.44, for a total value of $2,486,400.00. Following the completion of the sale, the executive vice president now owns 210,502 shares of the company’s stock, valued at approximately $8,723,202.88. This trade represents a 22.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 117,647 shares of company stock valued at $4,876,679. Insiders own 0.26% of the company’s stock.

Schlumberger Trading Down 1.1 %

SLB stock opened at $34.53 on Monday. The stock has a market cap of $46.96 billion, a price-to-earnings ratio of 11.10, a price-to-earnings-growth ratio of 10.10 and a beta of 1.11. The company has a fifty day moving average price of $38.61 and a two-hundred day moving average price of $40.36. Schlumberger Limited has a one year low of $31.11 and a one year high of $50.94. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.45 and a quick ratio of 1.11.

Schlumberger (NYSE:SLB) last announced its quarterly earnings results on Friday, April 25th. The oil and gas company reported $0.72 EPS for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.02). The company had revenue of $8.49 billion during the quarter, compared to analyst estimates of $8.64 billion. Schlumberger had a net margin of 12.29% and a return on equity of 21.90%. During the same quarter last year, the company posted $0.75 EPS. Equities analysts anticipate that Schlumberger Limited will post 3.38 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. Jefferies Financial Group cut their price objective on shares of Schlumberger from $60.00 to $59.00 and set a “buy” rating on the stock in a research report on Thursday, March 27th. Wells Fargo & Company raised Schlumberger from an “equal weight” rating to an “overweight” rating and reduced their price objective for the stock from $46.00 to $44.00 in a research report on Tuesday, April 8th. Stifel Nicolaus dropped their target price on Schlumberger from $59.00 to $58.00 and set a “buy” rating on the stock in a research report on Tuesday, April 15th. JPMorgan Chase & Co. upped their price target on Schlumberger from $48.00 to $50.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 21st. Finally, Citigroup boosted their price objective on shares of Schlumberger from $50.00 to $54.00 and gave the stock a “buy” rating in a research report on Tuesday, January 21st. Five research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $53.85.

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.