Hohimer Wealth Management LLC Sells 6,332 Shares of Schlumberger Limited (NYSE:SLB)

Hohimer Wealth Management LLC decreased its holdings in shares of Schlumberger Limited (NYSE:SLB) by 6.1% during the third quarter, Holdings Channel.com reports. The firm owned 97,136 shares of the oil and gas company’s stock after selling 6,332 shares during the period. Hohimer Wealth Management LLC’s holdings in Schlumberger were worth $4,075,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of SLB. ORG Partners LLC increased its position in shares of Schlumberger by 393.5% during the 3rd quarter. ORG Partners LLC now owns 607 shares of the oil and gas company’s stock valued at $25,000 after purchasing an additional 484 shares during the last quarter. Prospera Private Wealth LLC bought a new position in Schlumberger during the third quarter valued at $29,000. Unique Wealth Strategies LLC purchased a new stake in shares of Schlumberger in the second quarter valued at $30,000. Ashton Thomas Securities LLC bought a new stake in shares of Schlumberger in the 3rd quarter worth about $37,000. Finally, DiNuzzo Private Wealth Inc. boosted its stake in shares of Schlumberger by 1,068.3% during the 3rd quarter. DiNuzzo Private Wealth Inc. now owns 958 shares of the oil and gas company’s stock worth $40,000 after purchasing an additional 876 shares during the period. Institutional investors own 81.99% of the company’s stock.

Insiders Place Their Bets

In other Schlumberger news, EVP Abdellah Merad sold 60,000 shares of the firm’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 value of $2,514,000.00. Following the completion of the sale, the executive vice president now directly owns 211,937 shares in the company, valued at $8,880,160.30. This trade represents a 22.06 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.26% of the stock is currently owned by corporate insiders.

Schlumberger Price Performance

Shares of SLB opened at $40.88 on Wednesday. The stock has a market capitalization of $57.72 billion, a PE ratio of 13.14, a PEG ratio of 1.45 and a beta of 1.51. The company has a 50 day moving average price of $43.01 and a 200-day moving average price of $44.13. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.12 and a current ratio of 1.48. Schlumberger Limited has a fifty-two week low of $38.66 and a fifty-two week high of $55.69.

Schlumberger (NYSE:SLB) last posted 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. Schlumberger had a return on equity of 21.84% and a net margin of 12.44%. The company had revenue of $9.16 billion during the quarter, compared to analyst estimates of $9.27 billion. During the same quarter in the prior year, the business earned $0.78 earnings per share. Schlumberger’s revenue was up 10.2% on a year-over-year basis. Equities analysts predict that Schlumberger Limited will post 3.39 earnings per share for the current fiscal year.

Schlumberger Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 9th. Shareholders 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 yield of 2.69%. Schlumberger’s dividend payout ratio (DPR) is presently 35.37%.

Analysts Set New Price Targets

A number of research firms recently weighed in on SLB. TD Cowen reduced their price objective on shares of Schlumberger from $68.00 to $65.00 and set a “buy” rating on the stock in a research report on Monday, October 21st. Susquehanna reduced their price target on Schlumberger from $60.00 to $56.00 and set a “positive” rating on the stock in a report on Monday, October 21st. Evercore ISI dropped their price objective on Schlumberger from $74.00 to $62.00 and set an “outperform” rating for the company in a report on Monday, October 21st. Morgan Stanley cut their price objective on Schlumberger from $65.00 to $60.00 and set an “overweight” rating on the stock in a research report on Monday, September 16th. Finally, Bank of America decreased their target price on Schlumberger from $58.00 to $54.00 and set a “buy” rating for the company in a research report on Monday, October 14th. Two analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $60.91.

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.