Janney Montgomery Scott LLC Sells 8,880 Shares of Schlumberger Limited (NYSE:SLB)

Janney Montgomery Scott LLC lessened its stake in Schlumberger Limited (NYSE:SLBFree Report) by 4.2% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 204,459 shares of the oil and gas company’s stock after selling 8,880 shares during the period. Janney Montgomery Scott LLC’s holdings in Schlumberger were worth $11,206,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of SLB. Register Financial Advisors LLC bought a new position in shares of Schlumberger in the first quarter worth approximately $27,000. Turtle Creek Wealth Advisors LLC bought a new stake in Schlumberger in the 4th quarter worth $26,000. Transcendent Capital Group LLC purchased a new position in shares of Schlumberger in the fourth quarter valued at about $32,000. Rational Advisors LLC bought a new position in shares of Schlumberger during the first quarter valued at about $35,000. Finally, Janiczek Wealth Management LLC boosted its holdings in shares of Schlumberger by 1,180.4% during the fourth quarter. Janiczek Wealth Management LLC now owns 653 shares of the oil and gas company’s stock worth $34,000 after purchasing an additional 602 shares during the period. 81.99% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Schlumberger news, insider Bejar Carmen Rando sold 4,980 shares of Schlumberger stock in a transaction on Friday, June 7th. The shares were sold at an average price of $43.43, for a total value of $216,281.40. Following the completion of the transaction, the insider now directly owns 22,518 shares of the company’s stock, valued at approximately $977,956.74. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, insider Bejar Carmen Rando sold 4,980 shares of the firm’s stock in a transaction that occurred on Friday, June 7th. The stock was sold at an average price of $43.43, for a total value of $216,281.40. Following the completion of the sale, the insider now directly owns 22,518 shares of the company’s stock, valued at approximately $977,956.74. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CTO Demosthenis Pafitis sold 63,095 shares of Schlumberger stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $48.26, for a total value of $3,044,964.70. Following the completion of the transaction, the chief technology officer now owns 33,421 shares of the company’s stock, valued at approximately $1,612,897.46. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 106,158 shares of company stock worth $5,099,893. Insiders own 0.26% of the company’s stock.

Schlumberger Price Performance

NYSE SLB opened at $46.14 on Monday. The business’s fifty day moving average is $46.44 and its 200 day moving average is $49.41. Schlumberger Limited has a fifty-two week low of $42.61 and a fifty-two week high of $62.12. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.02 and a current ratio of 1.37. The company has a market capitalization of $65.95 billion, a PE ratio of 15.33, a price-to-earnings-growth ratio of 0.89 and a beta of 1.55.

Schlumberger (NYSE:SLBGet Free Report) last issued its quarterly earnings data on Friday, April 19th. The oil and gas company reported $0.75 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.75. The firm had revenue of $8.71 billion during the quarter, compared to analyst estimates of $8.70 billion. Schlumberger had a return on equity of 21.88% and a net margin of 12.72%. The business’s quarterly revenue was up 12.6% compared to the same quarter last year. During the same quarter last year, the business posted $0.63 earnings per share. Sell-side analysts predict that Schlumberger Limited will post 3.51 earnings per share for the current year.

Schlumberger Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 11th. Investors of record on Wednesday, June 5th will be issued a $0.275 dividend. The ex-dividend date of this dividend is Wednesday, June 5th. This is a positive change from Schlumberger’s previous quarterly dividend of $0.25. This represents a $1.10 dividend on an annualized basis and a dividend yield of 2.38%. Schlumberger’s dividend payout ratio (DPR) is 36.54%.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. Wells Fargo & Company lowered shares of Schlumberger from an “overweight” rating to an “equal weight” rating and cut their target price for the company from $68.00 to $53.00 in a research note on Monday, April 29th. BMO Capital Markets reduced their target price on Schlumberger from $66.00 to $64.00 and set an “outperform” rating on the stock in a report on Monday, April 22nd. Morgan Stanley reaffirmed an “overweight” rating and issued a $65.00 target price on shares of Schlumberger in a report on Monday, April 22nd. HSBC reiterated a “buy” rating and set a $71.00 price target on shares of Schlumberger in a report on Thursday, April 4th. Finally, Bank of America decreased their price objective on shares of Schlumberger from $63.00 to $62.00 and set a “buy” rating for the company in a report on Monday, April 22nd. Two analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat, Schlumberger currently has an average rating of “Moderate Buy” and a consensus price target of $68.59.

Check Out Our Latest Report on Schlumberger

Schlumberger Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Schlumberger (NYSE:SLB)

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