Northern Oak Wealth Management Inc. Cuts Holdings in Schlumberger Limited. (SLB)

Northern Oak Wealth Management Inc. lowered its holdings in shares of Schlumberger Limited. (NYSE:SLB) by 86.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,266 shares of the oil and gas company’s stock after selling 66,410 shares during the quarter. Northern Oak Wealth Management Inc.’s holdings in Schlumberger were worth $371,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in SLB. Soros Fund Management LLC acquired a new stake in Schlumberger during the 3rd quarter worth approximately $3,046,000. Greylin Investment Mangement Inc. acquired a new position in Schlumberger in the 3rd quarter valued at $7,963,000. Kentucky Retirement Systems acquired a new position in Schlumberger in the 3rd quarter valued at $9,798,000. Lee Danner & Bass Inc. raised its holdings in Schlumberger by 11.4% in the 4th quarter. Lee Danner & Bass Inc. now owns 128,987 shares of the oil and gas company’s stock valued at $4,654,000 after acquiring an additional 13,203 shares in the last quarter. Finally, B. Riley Wealth Management Inc. acquired a new position in Schlumberger in the 3rd quarter valued at $219,000. 78.94% of the stock is currently owned by institutional investors.

Several equities analysts have weighed in on SLB shares. Barclays dropped their price objective on Schlumberger from $52.00 to $49.00 and set an “equal weight” rating for the company in a report on Tuesday, April 9th. Citigroup lowered their price target on Schlumberger from $57.00 to $54.00 and set a “buy” rating for the company in a report on Friday, January 4th. Goldman Sachs Group initiated coverage on Schlumberger in a research report on Sunday, March 10th. They set a “buy” rating and a $55.00 price objective on the stock. Zacks Investment Research restated a “strong sell” rating on shares of Schlumberger in a research report on Monday, December 31st. Finally, Jefferies Financial Group lowered Schlumberger from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $50.00 to $45.00 in a research report on Friday, March 15th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and twelve have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $65.00.

SLB stock traded down $1.85 during trading on Friday, reaching $45.56. 15,721,558 shares of the stock were exchanged, compared to its average volume of 8,155,870. Schlumberger Limited. has a twelve month low of $34.99 and a twelve month high of $75.43. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.87 and a current ratio of 1.35. The company has a market cap of $63.14 billion, a P/E ratio of 28.12, a price-to-earnings-growth ratio of 2.04 and a beta of 1.33.

Schlumberger (NYSE:SLB) last posted its quarterly earnings results on Thursday, April 18th. The oil and gas company reported $0.30 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.30. The business had revenue of $7.88 billion for the quarter, compared to the consensus estimate of $7.82 billion. Schlumberger had a return on equity of 5.87% and a net margin of 6.19%. The firm’s revenue for the quarter was up .6% on a year-over-year basis. During the same period in the prior year, the business earned $0.38 EPS. Equities analysts predict that Schlumberger Limited. will post 1.6 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 12th. Stockholders of record on Wednesday, June 5th will be paid a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 4.39%. The ex-dividend date of this dividend is Tuesday, June 4th. Schlumberger’s dividend payout ratio (DPR) is presently 123.46%.

In other news, EVP Peuch Olivier Le sold 15,000 shares of the stock in a transaction that occurred on Tuesday, January 22nd. The stock was sold at an average price of $44.00, for a total value of $660,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.48% of the company’s stock.

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Schlumberger Company Profile

Schlumberger Limited supplies technology for reservoir characterization, drilling, production, and processing to the oil and gas industry worldwide. The company's Reservoir Characterization segment offers reservoir interpretation and data processing services; open and cased-hole, and slickline services; exploration and production pressure and flow-rate measurement services; tubing-conveyed perforating services; integrated production systems; software, consulting, information management, and IT infrastructure services; reservoir characterization, field development planning, and production enhancement consulting services; petro technical data services and training solutions; and integrated management services.

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Institutional Ownership by Quarter for Schlumberger (NYSE:SLB)

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