Beese Fulmer Investment Management Inc. Sells 3,781 Shares of Schlumberger Limited (NYSE:SLB)

Beese Fulmer Investment Management Inc. lowered its position in Schlumberger Limited (NYSE:SLB) by 7.0% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 50,148 shares of the oil and gas company’s stock after selling 3,781 shares during the quarter. Beese Fulmer Investment Management Inc.’s holdings in Schlumberger were worth $2,104,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Keene & Associates Inc. raised its stake in Schlumberger by 9.5% in the 3rd quarter. Keene & Associates Inc. now owns 75,521 shares of the oil and gas company’s stock worth $3,168,000 after purchasing an additional 6,537 shares in the last quarter. Hennion & Walsh Asset Management Inc. lifted its position in shares of Schlumberger by 28.8% in the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 67,792 shares of the oil and gas company’s stock worth $2,844,000 after purchasing an additional 15,175 shares during the period. Romano Brothers AND Company acquired a new position in shares of Schlumberger during the 3rd quarter valued at $2,589,000. Great Lakes Retirement Inc. increased its stake in Schlumberger by 5.2% during the 3rd quarter. Great Lakes Retirement Inc. now owns 160,409 shares of the oil and gas company’s stock valued at $6,729,000 after purchasing an additional 7,858 shares in the last quarter. Finally, International Assets Investment Management LLC grew its stake in shares of Schlumberger by 4,640.0% in the 3rd quarter. International Assets Investment Management LLC now owns 202,635 shares of the oil and gas company’s stock worth $8,501,000 after acquiring an additional 198,360 shares in the last quarter. Institutional investors and hedge funds own 81.99% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have weighed in on SLB. Evercore ISI cut their target price on shares of Schlumberger from $74.00 to $62.00 and set an “outperform” rating for the company in a research report on Monday. Benchmark reaffirmed a “buy” rating and issued a $68.00 target price on shares of Schlumberger in a research note on Monday, July 22nd. Stifel Nicolaus restated a “buy” rating and set a $60.00 target price (down previously from $62.00) on shares of Schlumberger in a report on Monday. BMO Capital Markets dropped their price target on shares of Schlumberger from $60.00 to $58.00 and set an “outperform” rating on the stock in a research note on Thursday, October 10th. Finally, Morgan Stanley decreased their target price on Schlumberger from $65.00 to $60.00 and set an “overweight” rating for the company in a research report on Monday, September 16th. Two research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $60.97.

Schlumberger Trading Up 0.5 %

SLB stock opened at $42.13 on Thursday. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.48 and a quick ratio of 1.12. The company has a market capitalization of $59.82 billion, a price-to-earnings ratio of 13.55, a PEG ratio of 1.48 and a beta of 1.51. Schlumberger Limited has a 1-year low of $38.66 and a 1-year high of $59.05. The business has a 50 day simple moving average of $43.00 and a two-hundred day simple moving average of $45.75.

Schlumberger (NYSE:SLB) last issued its quarterly earnings results on Friday, October 18th. The oil and gas company reported $0.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.88 by $0.01. The company had revenue of $9.16 billion during the quarter, compared to the consensus estimate of $9.27 billion. Schlumberger had a return on equity of 21.84% and a net margin of 12.44%. Schlumberger’s revenue was up 10.2% on a year-over-year basis. During the same period last year, the company earned $0.78 earnings per share. Research analysts anticipate that Schlumberger Limited will post 3.41 EPS for the current fiscal year.

Schlumberger Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 9th. Investors of record on Wednesday, December 4th will be given 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 yield of 2.61%. Schlumberger’s dividend payout ratio is presently 35.37%.

About Schlumberger

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.