Sigma Investment Counselors Inc. Sells 7,222 Shares of Schlumberger Limited (NYSE:SLB)

Sigma Investment Counselors Inc. lowered its holdings in shares of Schlumberger Limited (NYSE:SLB - Free Report) by 10.8% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 59,932 shares of the oil and gas company's stock after selling 7,222 shares during the period. Sigma Investment Counselors Inc.'s holdings in Schlumberger were worth $2,505,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently made changes to their positions in SLB. Alpine Bank Wealth Management bought a new stake in shares of Schlumberger during the first quarter worth approximately $34,000. True Wealth Design LLC raised its position in Schlumberger by 584.7% during the fourth quarter. True Wealth Design LLC now owns 986 shares of the oil and gas company's stock valued at $38,000 after purchasing an additional 842 shares in the last quarter. Mpwm Advisory Solutions LLC acquired a new position in Schlumberger during the fourth quarter valued at approximately $40,000. Sound Income Strategies LLC raised its position in Schlumberger by 265.4% during the first quarter. Sound Income Strategies LLC now owns 961 shares of the oil and gas company's stock valued at $40,000 after purchasing an additional 698 shares in the last quarter. Finally, Smallwood Wealth Investment Management LLC acquired a new position in Schlumberger during the first quarter valued at approximately $44,000. Institutional investors own 81.99% of the company's stock.

Insiders Place Their Bets

In other news, Director La Chevardiere Patrick De sold 5,000 shares of the company's stock in a transaction dated Thursday, May 22nd. The shares were sold at an average price of $33.58, for a total transaction of $167,900.00. Following the completion of the transaction, the director directly owned 23,525 shares of the company's stock, valued at approximately $789,969.50. This represents a 17.53% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.26% of the stock is owned by corporate insiders.

Schlumberger Price Performance

NYSE:SLB traded down $0.29 during trading hours on Wednesday, hitting $36.25. The stock had a trading volume of 11,429,859 shares, compared to its average volume of 13,834,045. Schlumberger Limited has a one year low of $31.11 and a one year high of $50.94. The company has a 50 day simple moving average of $34.60 and a two-hundred day simple moving average of $37.65. The firm has a market capitalization of $49.31 billion, a price-to-earnings ratio of 12.29, a P/E/G ratio of 9.62 and a beta of 1.01. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.24 and a quick ratio of 0.93.

Schlumberger (NYSE:SLB - Get Free Report) last announced its earnings results on Friday, April 25th. The oil and gas company reported $0.72 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.73 by ($0.01). The company had revenue of $8.49 billion during the quarter, compared to analysts' expectations of $8.64 billion. Schlumberger had a return on equity of 21.76% and a net margin of 11.62%. The firm's revenue was down 2.5% on a year-over-year basis. During the same quarter last year, the firm posted $0.75 earnings per share. Research analysts forecast that Schlumberger Limited will post 3.38 earnings per share for the current fiscal year.

Schlumberger Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 10th. Shareholders of record on Wednesday, June 4th will be paid a $0.285 dividend. This represents a $1.14 annualized dividend and a yield of 3.14%. The ex-dividend date of this dividend is Wednesday, June 4th. Schlumberger's dividend payout ratio is presently 38.64%.

Analysts Set New Price Targets

A number of analysts have weighed in on SLB shares. Susquehanna decreased their target price on shares of Schlumberger from $46.00 to $44.00 and set a "positive" rating on the stock in a research note on Tuesday, July 1st. Wells Fargo & Company cut their price objective on shares of Schlumberger from $46.00 to $43.00 and set an "overweight" rating on the stock in a research report on Thursday, June 5th. Morgan Stanley cut their price objective on shares of Schlumberger from $50.00 to $45.00 and set an "overweight" rating on the stock in a research report on Friday, May 16th. Stifel Nicolaus cut their price objective on shares of Schlumberger from $58.00 to $54.00 and set a "buy" rating on the stock in a research report on Monday, April 28th. Finally, Barclays cut their price objective on shares of Schlumberger from $53.00 to $48.00 and set an "overweight" rating on the stock in a research report on Friday, April 25th. Three analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $50.85.

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.