Venturi Wealth Management LLC Has $96,000 Position in Schlumberger Limited (NYSE:SLB)

Venturi Wealth Management LLC grew its stake in Schlumberger Limited (NYSE:SLB) by 84.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,294 shares of the oil and gas company’s stock after buying an additional 1,047 shares during the period. Venturi Wealth Management LLC’s holdings in Schlumberger were worth $96,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the stock. Financial Advocates Investment Management increased its position in Schlumberger by 3.4% during the 2nd quarter. Financial Advocates Investment Management now owns 6,558 shares of the oil and gas company’s stock valued at $309,000 after purchasing an additional 218 shares during the period. Chilton Capital Management LLC increased its position in shares of Schlumberger by 0.8% during the second quarter. Chilton Capital Management LLC now owns 26,202 shares of the oil and gas company’s stock worth $1,236,000 after buying an additional 219 shares during the period. Grove Bank & Trust raised its stake in Schlumberger by 17.4% during the third quarter. Grove Bank & Trust now owns 1,514 shares of the oil and gas company’s stock worth $64,000 after buying an additional 224 shares during the last quarter. First PREMIER Bank lifted its holdings in Schlumberger by 8.7% in the second quarter. First PREMIER Bank now owns 2,842 shares of the oil and gas company’s stock valued at $134,000 after buying an additional 227 shares during the period. Finally, Addison Advisors LLC boosted its position in Schlumberger by 6.5% during the second quarter. Addison Advisors LLC now owns 3,794 shares of the oil and gas company’s stock valued at $179,000 after acquiring an additional 233 shares during the last quarter. 81.99% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the company. Barclays dropped their price objective on Schlumberger from $67.00 to $63.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 16th. JPMorgan Chase & Co. reduced their price objective on shares of Schlumberger from $64.00 to $60.00 and set an “overweight” rating for the company in a research report on Tuesday, October 1st. Dbs Bank began coverage on shares of Schlumberger in a report on Wednesday, September 18th. They set a “buy” rating and a $64.50 price objective on the stock. Morgan Stanley cut their price objective on shares of Schlumberger from $65.00 to $60.00 and set an “overweight” rating on the stock in a research report on Monday, September 16th. Finally, Benchmark reaffirmed a “buy” rating and set a $68.00 price target on shares of Schlumberger in a research note on Monday, July 22nd. Two equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $60.97.

Insider Buying and Selling at Schlumberger

In related news, EVP Abdellah Merad sold 60,000 shares of the company’s stock in a transaction that occurred on Thursday, October 24th. The shares were sold at an average price of $41.90, for a total transaction of $2,514,000.00. Following the sale, the executive vice president now owns 211,937 shares of the company’s stock, valued at approximately $8,880,160.30. This represents a 22.06 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.26% of the company’s stock.

Schlumberger Stock Down 0.3 %

Shares of NYSE SLB opened at $43.45 on Friday. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.48 and a quick ratio of 1.12. The stock has a market capitalization of $61.36 billion, a PE ratio of 13.97, a P/E/G ratio of 1.56 and a beta of 1.52. Schlumberger Limited has a one year low of $38.66 and a one year high of $55.69. The business’s fifty day moving average price is $42.31 and its 200-day moving average price is $44.76.

Schlumberger (NYSE:SLB) last issued its earnings results on Friday, October 18th. The oil and gas company reported $0.89 earnings per share for the quarter, topping analysts’ consensus estimates of $0.88 by $0.01. The firm had revenue of $9.16 billion during 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 company’s quarterly revenue was up 10.2% on a year-over-year basis. During the same quarter last year, the business earned $0.78 earnings per share. On average, equities research analysts anticipate that Schlumberger Limited will post 3.4 EPS for the current year.

Schlumberger Announces Dividend

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 issued 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 yield of 2.53%. Schlumberger’s dividend payout ratio (DPR) is 35.37%.

About Schlumberger

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.