Creative Planning Cuts Holdings in Schlumberger Limited (NYSE:SLB)

Creative Planning trimmed its holdings in shares of Schlumberger Limited (NYSE:SLB) by 7.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 243,260 shares of the oil and gas company’s stock after selling 20,147 shares during the quarter. Creative Planning’s holdings in Schlumberger were worth $10,205,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. ORG Partners LLC lifted its stake in shares of Schlumberger by 393.5% during the third quarter. ORG Partners LLC now owns 607 shares of the oil and gas company’s stock worth $25,000 after buying an additional 484 shares during the period. Register Financial Advisors LLC acquired a new position in Schlumberger during the first quarter valued at $27,000. Bruce G. Allen Investments LLC lifted its position in 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 valued at $28,000 after purchasing an additional 392 shares during the period. Unique Wealth Strategies LLC acquired a new position in Schlumberger during the second quarter valued at $30,000. Finally, Manchester Capital Management LLC lifted its position in Schlumberger by 297.9% during the first quarter. Manchester Capital Management LLC now owns 569 shares of the oil and gas company’s stock valued at $31,000 after purchasing an additional 426 shares during the period. 81.99% of the stock is currently owned by institutional investors and hedge funds.

Schlumberger Stock Down 1.2 %

SLB stock opened at $41.94 on Wednesday. The firm has a 50-day moving average of $43.03 and a two-hundred day moving average of $45.78. Schlumberger Limited has a 12 month low of $38.66 and a 12 month high of $59.05. The company has a current ratio of 1.49, a quick ratio of 1.13 and a debt-to-equity ratio of 0.55. The company has a market cap of $59.54 billion, a price-to-earnings ratio of 13.48, a PEG ratio of 1.27 and a beta of 1.51.

Schlumberger (NYSE:SLB) last posted its quarterly earnings results 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. Schlumberger had a net margin of 12.56% and a return on equity of 21.92%. The business had revenue of $9.16 billion during the quarter, compared to analysts’ expectations of $9.27 billion. During the same quarter in the prior year, the company posted $0.78 EPS. The business’s revenue for the quarter was up 10.2% on a year-over-year basis. As a group, analysts forecast that Schlumberger Limited will post 3.44 earnings per share for the current fiscal year.

Schlumberger Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 9th. Investors of record on Wednesday, December 4th will be given a dividend of $0.275 per share. The ex-dividend date is Wednesday, December 4th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 2.62%. Schlumberger’s payout ratio is currently 35.37%.

Wall Street Analyst Weigh In

SLB has been the subject of a number of analyst reports. Royal Bank of Canada reiterated an “outperform” rating and issued a $69.00 price objective on shares of Schlumberger in a research report on Thursday, October 3rd. Benchmark reiterated a “buy” rating and issued a $68.00 price objective on shares of Schlumberger in a research report on Monday, July 22nd. UBS Group decreased their price objective on shares of Schlumberger from $63.00 to $57.00 and set a “buy” rating for the company in a research report on Wednesday, September 18th. Bank of America reduced their price target on shares of Schlumberger from $58.00 to $54.00 and set a “buy” rating for the company in a research report on Monday, October 14th. Finally, Stifel Nicolaus restated a “buy” rating and set a $60.00 price target (down previously from $62.00) on shares of Schlumberger in a research report on Monday. Two analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. Based on data from MarketBeat, Schlumberger has an average rating of “Moderate Buy” and an average target price of $61.58.

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.