Janney Montgomery Scott LLC Cuts Stock Holdings in Schlumberger Limited $SLB

Janney Montgomery Scott LLC decreased its holdings in shares of Schlumberger Limited (NYSE:SLB - Free Report) by 9.0% during the second quarter, according to its most recent filing with the SEC. The firm owned 217,841 shares of the oil and gas company's stock after selling 21,524 shares during the period. Janney Montgomery Scott LLC's holdings in Schlumberger were worth $7,363,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Nuveen LLC purchased a new position in Schlumberger during the 1st quarter valued at about $169,232,000. Scharf Investments LLC increased its position in Schlumberger by 20.5% during the 1st quarter. Scharf Investments LLC now owns 1,653,895 shares of the oil and gas company's stock valued at $69,133,000 after purchasing an additional 281,773 shares during the period. Integrated Advisors Network LLC boosted its holdings in shares of Schlumberger by 810.4% in the 1st quarter. Integrated Advisors Network LLC now owns 75,163 shares of the oil and gas company's stock valued at $3,142,000 after buying an additional 66,907 shares in the last quarter. Alan B Lancz & Associates Inc. bought a new stake in shares of Schlumberger in the 1st quarter valued at about $308,000. Finally, Stratos Investment Management LLC boosted its holdings in shares of Schlumberger by 236.0% in the 1st quarter. Stratos Investment Management LLC now owns 146,908 shares of the oil and gas company's stock valued at $6,141,000 after buying an additional 103,182 shares in the last quarter. Hedge funds and other institutional investors own 81.99% of the company's stock.

Insider Buying and Selling

In other news, insider Dianne B. Ralston sold 39,727 shares of the firm's stock in a transaction that occurred on Friday, September 12th. The shares were sold at an average price of $36.08, for a total transaction of $1,433,350.16. Following the sale, the insider owned 202,201 shares of the company's stock, valued at $7,295,412.08. This trade represents a 16.42% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.22% of the company's stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on SLB. Barclays lowered their price target on shares of Schlumberger from $47.00 to $46.00 and set an "overweight" rating on the stock in a report on Monday, July 21st. Jefferies Financial Group lowered their price target on shares of Schlumberger from $54.00 to $53.00 and set a "buy" rating on the stock in a report on Thursday, June 26th. JPMorgan Chase & Co. lowered their price target on shares of Schlumberger from $46.00 to $44.00 and set an "overweight" rating on the stock in a report on Monday, June 30th. Susquehanna lowered their price target on shares of Schlumberger from $44.00 to $42.00 and set a "positive" rating on the stock in a report on Monday, July 21st. Finally, Melius began coverage on shares of Schlumberger in a report on Wednesday, August 20th. They issued a "buy" rating and a $82.00 price target on the stock. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and six have given a Hold rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $52.18.

Schlumberger Trading Up 0.4%

NYSE SLB opened at $34.26 on Monday. Schlumberger Limited has a 1 year low of $31.11 and a 1 year high of $46.15. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.31 and a quick ratio of 0.98. The company has a market capitalization of $51.17 billion, a PE ratio of 11.73, a P/E/G ratio of 9.51 and a beta of 0.97. The company has a fifty day moving average of $34.63 and a 200 day moving average of $35.10.

Schlumberger (NYSE:SLB - Get Free Report) last released its quarterly earnings data on Friday, July 18th. The oil and gas company reported $0.74 earnings per share for the quarter, beating analysts' consensus estimates of $0.73 by $0.01. The business had revenue of $8.55 billion during the quarter, compared to analyst estimates of $8.51 billion. Schlumberger had a return on equity of 20.99% and a net margin of 11.53%.The company's revenue was down 6.5% on a year-over-year basis. During the same quarter last year, the business posted $0.85 EPS. Research analysts forecast that Schlumberger Limited will post 3.38 earnings per share for the current year.

Schlumberger Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 9th. Shareholders of record on Wednesday, September 3rd will be issued a $0.285 dividend. The ex-dividend date of this dividend is Wednesday, September 3rd. This represents a $1.14 dividend on an annualized basis and a yield of 3.3%. Schlumberger's payout ratio is presently 39.04%.

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.

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