Schlumberger Limited (NYSE:SLB) Stock Holdings Reduced by Coastline Trust Co

Coastline Trust Co decreased its holdings in shares of Schlumberger Limited (NYSE:SLB - Free Report) by 35.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 21,870 shares of the oil and gas company's stock after selling 12,110 shares during the quarter. Coastline Trust Co's holdings in Schlumberger were worth $917,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. ORG Partners LLC boosted its holdings 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 valued at $25,000 after acquiring an additional 484 shares during the period. Bruce G. Allen Investments LLC grew its position in Schlumberger by 204.2% in the 2nd quarter. Bruce G. Allen Investments LLC now owns 584 shares of the oil and gas company's stock worth $28,000 after purchasing an additional 392 shares during the last quarter. Unique Wealth Strategies LLC acquired a new stake in shares of Schlumberger in the second quarter valued at approximately $30,000. Riverview Trust Co raised 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 boosted 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 buying an additional 528 shares during the period. Institutional investors and hedge funds own 81.99% of the company's stock.

Insider Transactions at Schlumberger

In other news, EVP Abdellah Merad sold 60,000 shares of the 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 of the company's stock, valued at $8,880,160.30. This represents a 22.06 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.26% of the stock is currently owned by insiders.

Schlumberger Trading Down 0.6 %

Shares of NYSE:SLB traded down $0.27 during midday trading on Friday, reaching $43.18. The company had a trading volume of 9,632,621 shares, compared to its average volume of 11,276,779. The company has a fifty day simple moving average of $42.40 and a two-hundred day simple moving average of $44.71. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.12 and a current ratio of 1.48. The firm has a market cap of $60.98 billion, a price-to-earnings ratio of 13.88, a price-to-earnings-growth ratio of 1.54 and a beta of 1.52. Schlumberger Limited has a 1-year low of $38.66 and a 1-year high of $55.69.

Schlumberger (NYSE:SLB - Get Free Report) last released its earnings results on Friday, October 18th. The oil and gas company reported $0.89 earnings per share for the quarter, topping the consensus estimate of $0.88 by $0.01. The business had revenue of $9.16 billion for the quarter, compared to the consensus estimate of $9.27 billion. Schlumberger had a net margin of 12.44% and a return on equity of 21.84%. The firm's quarterly revenue was up 10.2% compared to the same quarter last year. During the same period last year, the firm posted $0.78 earnings per share. Research analysts predict that Schlumberger Limited will post 3.4 earnings per share for the current year.

Schlumberger Announces Dividend

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 issued a $0.275 dividend. The ex-dividend date of this dividend is Wednesday, December 4th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 2.55%. Schlumberger's payout ratio is currently 35.37%.

Analysts Set New Price Targets

Several research firms recently commented on SLB. Bank of America lowered their target price on Schlumberger from $58.00 to $54.00 and set a "buy" rating on the stock in a research report on Monday, October 14th. Dbs Bank started coverage on Schlumberger in a report on Wednesday, September 18th. They set a "buy" rating and a $64.50 price target on the stock. 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 report on Tuesday, October 1st. Benchmark reissued a "buy" rating and set a $68.00 target price on shares of Schlumberger in a research note on Monday, July 22nd. Finally, Citigroup reduced their price target on shares of Schlumberger from $60.00 to $54.00 and set a "buy" rating for the company in a research note on Tuesday, October 22nd. Two equities research 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 company. According to data from MarketBeat.com, Schlumberger has a consensus rating of "Moderate Buy" and an average target price of $60.97.

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.