Kovack Advisors Inc. Reduces Stock Position in Schlumberger Limited (NYSE:SLB)

Kovack Advisors Inc. cut its stake in shares of Schlumberger Limited (NYSE:SLB - Free Report) by 25.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 45,643 shares of the oil and gas company's stock after selling 15,954 shares during the period. Kovack Advisors Inc.'s holdings in Schlumberger were worth $1,915,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also modified their holdings of the company. Vanguard Group Inc. boosted its holdings in Schlumberger by 1.4% during the 1st quarter. Vanguard Group Inc. now owns 134,150,168 shares of the oil and gas company's stock valued at $7,352,771,000 after acquiring an additional 1,868,688 shares during the period. Capital World Investors boosted its stake in shares of Schlumberger by 72.3% during the first quarter. Capital World Investors now owns 88,950,956 shares of the oil and gas company's stock valued at $4,875,402,000 after purchasing an additional 37,333,485 shares during the period. Price T Rowe Associates Inc. MD grew its holdings in shares of Schlumberger by 14.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 85,986,039 shares of the oil and gas company's stock worth $4,712,897,000 after purchasing an additional 10,606,191 shares during the last quarter. Legal & General Group Plc increased its stake in Schlumberger by 14.0% in the 2nd quarter. Legal & General Group Plc now owns 12,686,384 shares of the oil and gas company's stock worth $598,544,000 after buying an additional 1,560,684 shares during the period. Finally, Boston Partners lifted its holdings in Schlumberger by 35.8% during the 1st quarter. Boston Partners now owns 11,640,827 shares of the oil and gas company's stock valued at $635,883,000 after buying an additional 3,069,395 shares in the last quarter. 81.99% of the stock is owned by institutional investors.

Schlumberger Trading Down 1.7 %

SLB traded down $0.74 during mid-day trading on Wednesday, hitting $43.59. 9,715,082 shares of the stock were exchanged, compared to its average volume of 11,289,707. The company has a market cap of $61.56 billion, a PE ratio of 14.02, a PEG ratio of 1.56 and a beta of 1.52. Schlumberger Limited has a 1-year low of $38.66 and a 1-year high of $55.69. The company has a current ratio of 1.48, a quick ratio of 1.12 and a debt-to-equity ratio of 0.52. The firm's fifty day moving average is $42.26 and its two-hundred day moving average is $44.77.

Schlumberger (NYSE:SLB - Get Free Report) last issued its earnings results on Friday, October 18th. The oil and gas company reported $0.89 EPS 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 the consensus estimate of $9.27 billion. Schlumberger had a net margin of 12.44% and a return on equity of 21.84%. The company's revenue was up 10.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.78 earnings per share. Equities analysts forecast that Schlumberger Limited will post 3.4 earnings per share for the current fiscal 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 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 2.52%. Schlumberger's dividend payout ratio (DPR) is presently 35.37%.

Insider Buying and Selling at Schlumberger

In other news, EVP Abdellah Merad sold 60,000 shares of the business's stock in a transaction dated 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 transaction, the executive vice president now directly owns 211,937 shares in the company, valued at $8,880,160.30. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.26% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the stock. BMO Capital Markets lowered their price target on shares of Schlumberger from $60.00 to $58.00 and set an "outperform" rating for the company in a research report on Thursday, October 10th. Benchmark reaffirmed a "buy" rating and set a $68.00 target price on shares of Schlumberger in a report on Monday, July 22nd. JPMorgan Chase & Co. decreased 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. Susquehanna dropped their price target on shares of Schlumberger from $60.00 to $56.00 and set a "positive" rating on the stock in a research note on Monday, October 21st. Finally, Dbs Bank initiated coverage on Schlumberger in a research report on Wednesday, September 18th. They issued a "buy" rating and a $64.50 target price on the stock. Two investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $60.97.

Schlumberger 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.