Coastline Trust Co Sells 12,110 Shares of Schlumberger Limited (NYSE:SLB)

Coastline Trust Co lowered its position in Schlumberger Limited (NYSE:SLB) by 35.6% during the 3rd quarter, Holdings Channel reports. The fund owned 21,870 shares of the oil and gas company’s stock after selling 12,110 shares during the period. Coastline Trust Co’s holdings in Schlumberger were worth $917,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in SLB. ORG Partners LLC lifted its holdings 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 worth $25,000 after purchasing an additional 484 shares in the last quarter. Bruce G. Allen Investments LLC lifted its stake in shares of Schlumberger by 204.2% in the second quarter. Bruce G. Allen Investments LLC now owns 584 shares of the oil and gas company’s stock valued at $28,000 after buying an additional 392 shares in the last quarter. Unique Wealth Strategies LLC acquired a new position in shares of Schlumberger during the second quarter valued at about $30,000. Riverview Trust Co grew its holdings in shares of Schlumberger by 90.6% during the second 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. Finally, First Community Trust NA increased its position in shares of Schlumberger by 264.0% during the second quarter. First Community Trust NA now owns 728 shares of the oil and gas company’s stock worth $34,000 after acquiring an additional 528 shares in the last quarter. Institutional investors and hedge funds own 81.99% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on SLB. Susquehanna dropped their price target on shares of Schlumberger from $60.00 to $56.00 and set a “positive” rating on the stock in a research report on Monday, October 21st. Dbs Bank initiated coverage on Schlumberger in a research report on Wednesday, September 18th. They set a “buy” rating and a $64.50 target price on the stock. Benchmark reissued a “buy” rating and issued a $68.00 price target on shares of Schlumberger in a research report on Monday, July 22nd. Wells Fargo & Company dropped their price objective on Schlumberger from $53.00 to $49.00 and set an “equal weight” rating on the stock in a research note on Wednesday, September 25th. Finally, Morgan Stanley reduced their target price on shares of Schlumberger from $65.00 to $60.00 and set an “overweight” rating for the company in a research note on Monday, September 16th. Two investment 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 company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $60.97.

Schlumberger Price Performance

Schlumberger stock opened at $43.18 on Friday. The business’s 50 day simple moving average is $42.40 and its 200 day simple moving average is $44.71. Schlumberger Limited has a 12 month low of $38.66 and a 12 month high of $55.69. The company has a market cap of $60.98 billion, a price-to-earnings ratio of 13.88, a PEG ratio of 1.54 and a beta of 1.52. The company has a current ratio of 1.48, a quick ratio of 1.12 and a debt-to-equity ratio of 0.52.

Schlumberger (NYSE:SLB) last issued its quarterly earnings results on Friday, October 18th. The oil and gas company reported $0.89 EPS 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 firm had revenue of $9.16 billion for the quarter, compared to analysts’ expectations of $9.27 billion. During the same quarter in the prior year, the firm earned $0.78 EPS. The business’s revenue for the quarter was up 10.2% compared to the same quarter last year. Sell-side analysts forecast that Schlumberger Limited will post 3.4 EPS for the current year.

Schlumberger Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 9th. Stockholders of record on Wednesday, December 4th will be paid a $0.275 dividend. The ex-dividend date is Wednesday, December 4th. This represents a $1.10 annualized dividend and a dividend yield of 2.55%. Schlumberger’s payout ratio is 35.37%.

Insider Activity

In other news, EVP Abdellah Merad sold 60,000 shares of the firm’s stock in a transaction on Thursday, October 24th. The stock was sold at an average price of $41.90, for a total value of $2,514,000.00. Following the completion of the transaction, the executive vice president now directly owns 211,937 shares of the company’s stock, valued at $8,880,160.30. This trade represents a 22.06 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.26% of the company’s stock.

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.