SevenBridge Financial Group LLC Has $317,000 Stock Holdings in Schlumberger Limited (NYSE:SLB)

SevenBridge Financial Group LLC grew its holdings in Schlumberger Limited (NYSE:SLB) by 6.7% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 7,169 shares of the oil and gas company’s stock after purchasing an additional 450 shares during the period. SevenBridge Financial Group LLC’s holdings in Schlumberger were worth $317,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. ORG Partners LLC lifted its stake in shares of Schlumberger by 393.5% in the 3rd quarter. ORG Partners LLC now owns 607 shares of the oil and gas company’s stock valued at $25,000 after acquiring an additional 484 shares during the last quarter. Bruce G. Allen Investments LLC grew its holdings in shares of Schlumberger by 204.2% during the second quarter. Bruce G. Allen Investments LLC now owns 584 shares of the oil and gas company’s stock worth $28,000 after purchasing an additional 392 shares during the last quarter. Prospera Private Wealth LLC bought a new stake in shares of Schlumberger during the third quarter worth about $29,000. Unique Wealth Strategies LLC acquired a new position in shares of Schlumberger in the second quarter valued at approximately $30,000. Finally, Riverview Trust Co raised its holdings in Schlumberger by 90.6% in the 2nd quarter. Riverview Trust Co now owns 648 shares of the oil and gas company’s stock valued at $31,000 after buying an additional 308 shares during the last quarter. Institutional investors and hedge funds own 81.99% of the company’s stock.

Insider Activity

In related 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 value of $2,514,000.00. Following the completion of 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 transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.26% of the company’s stock.

Analyst Ratings Changes

SLB has been the topic of a number of research reports. Sanford C. Bernstein raised shares of Schlumberger to a “strong-buy” rating in a report on Tuesday, November 12th. Dbs Bank assumed coverage on shares of Schlumberger in a research note on Wednesday, September 18th. They issued a “buy” rating and a $64.50 price objective on the stock. JPMorgan Chase & Co. lowered their target price on Schlumberger from $64.00 to $60.00 and set an “overweight” rating for the company in a research report on Tuesday, October 1st. Citigroup reduced their price target on Schlumberger from $60.00 to $54.00 and set a “buy” rating on the stock in a research report on Tuesday, October 22nd. Finally, BMO Capital Markets lowered 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. Two equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Schlumberger has a consensus rating of “Moderate Buy” and an average target price of $60.97.

Schlumberger Stock Up 0.4 %

Shares of NYSE SLB opened at $44.23 on Monday. 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 firm has a market cap of $62.46 billion, a PE ratio of 14.22, a P/E/G ratio of 1.56 and a beta of 1.52. The company’s fifty day simple moving average is $42.78 and its 200 day simple moving average is $44.53. Schlumberger Limited has a 12-month low of $38.66 and a 12-month high of $55.69.

Schlumberger (NYSE:SLB) last announced its quarterly earnings data on Friday, October 18th. The oil and gas company reported $0.89 earnings per share for the quarter, beating the consensus estimate of $0.88 by $0.01. The firm had revenue of $9.16 billion for the quarter, compared to analyst estimates of $9.27 billion. Schlumberger had a net margin of 12.44% and a return on equity of 21.84%. The business’s quarterly revenue was up 10.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.78 earnings per share. As a group, sell-side analysts forecast that Schlumberger Limited will post 3.39 earnings per share for the current fiscal year.

Schlumberger Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 9th. Shareholders of record on Wednesday, December 4th will be paid a $0.275 dividend. The ex-dividend date of this dividend is Wednesday, December 4th. This represents a $1.10 dividend on an annualized basis and a yield of 2.49%. Schlumberger’s dividend payout ratio (DPR) is presently 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.