Schlumberger Limited. (SLB) Shares Sold by Norris Perne & French LLP MI

Norris Perne & French LLP MI decreased its position in Schlumberger Limited. (NYSE:SLB) by 53.6% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 47,874 shares of the oil and gas company’s stock after selling 55,354 shares during the period. Norris Perne & French LLP MI’s holdings in Schlumberger were worth $3,340,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the company. Valley National Advisers Inc. grew its holdings in shares of Schlumberger by 0.3% in the 2nd quarter. Valley National Advisers Inc. now owns 2,594 shares of the oil and gas company’s stock valued at $171,000 after buying an additional 8 shares during the period. Family Legacy Inc. grew its holdings in shares of Schlumberger by 0.9% in the 2nd quarter. Family Legacy Inc. now owns 3,372 shares of the oil and gas company’s stock valued at $222,000 after buying an additional 30 shares during the period. Frontier Wealth Management LLC boosted its stake in Schlumberger by 0.4% in the 2nd quarter. Frontier Wealth Management LLC now owns 8,229 shares of the oil and gas company’s stock worth $542,000 after purchasing an additional 35 shares during the period. Town & Country Bank & Trust CO dba First Bankers Trust CO boosted its stake in Schlumberger by 0.3% in the 2nd quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO now owns 12,886 shares of the oil and gas company’s stock worth $848,000 after purchasing an additional 36 shares during the period. Finally, Glassman Wealth Services boosted its stake in Schlumberger by 0.8% in the 2nd quarter. Glassman Wealth Services now owns 5,276 shares of the oil and gas company’s stock worth $347,000 after purchasing an additional 44 shares during the period. 79.30% of the stock is owned by institutional investors.

Shares of Schlumberger Limited. (NYSE:SLB) opened at $73.60 on Monday. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.20 and a current ratio of 1.53. Schlumberger Limited. has a 52-week low of $61.02 and a 52-week high of $87.84. The company has a market cap of $101,960.00, a PE ratio of 188.72, a price-to-earnings-growth ratio of 1.53 and a beta of 1.01.

Schlumberger (NYSE:SLB) last issued its quarterly earnings results on Friday, October 20th. The oil and gas company reported $0.42 EPS for the quarter, hitting the consensus estimate of $0.42. Schlumberger had a net margin of 1.86% and a return on equity of 4.42%. The firm had revenue of $7.91 billion for the quarter, compared to analysts’ expectations of $7.91 billion. During the same period in the previous year, the firm posted $0.25 EPS. The company’s revenue for the quarter was up 12.6% on a year-over-year basis. sell-side analysts anticipate that Schlumberger Limited. will post 1.46 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 12th. Shareholders of record on Wednesday, December 6th will be given a dividend of $0.50 per share. The ex-dividend date is Tuesday, December 5th. This represents a $2.00 annualized dividend and a yield of 2.72%. Schlumberger’s dividend payout ratio (DPR) is presently 512.82%.

A number of brokerages recently weighed in on SLB. B. Riley set a $80.00 target price on shares of Schlumberger and gave the stock a “buy” rating in a research note on Wednesday, January 3rd. Jefferies Group set a $78.00 target price on shares of Schlumberger and gave the stock a “buy” rating in a research note on Thursday. Citigroup upped their target price on shares of Schlumberger from $77.00 to $80.00 and gave the stock a “buy” rating in a research note on Thursday, October 5th. Royal Bank of Canada set a $86.00 target price on shares of Schlumberger and gave the stock a “buy” rating in a research note on Saturday, October 7th. Finally, Cowen set a $80.00 target price on shares of Schlumberger and gave the stock a “buy” rating in a research note on Friday, October 6th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $79.37.

In other Schlumberger news, Director Tore I. Sandvold sold 3,500 shares of the business’s stock in a transaction dated Tuesday, October 24th. The shares were sold at an average price of $62.63, for a total transaction of $219,205.00. Following the sale, the director now directly owns 1,500 shares of the company’s stock, valued at approximately $93,945. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.38% of the company’s stock.

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About Schlumberger

Schlumberger N.V. provides technology for reservoir characterization, drilling, production and processing to the oil and gas industry. The Company’s segments include Reservoir Characterization Group, Drilling Group, Production Group and Cameron Group. The Reservoir Characterization Group consists of the principal technologies involved in finding and defining hydrocarbon resources.

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Institutional Ownership by Quarter for Schlumberger (NYSE:SLB)

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