Edge Wealth Management LLC Sells 14,340 Shares of Schlumberger Limited. (SLB)

Edge Wealth Management LLC lowered its stake in Schlumberger Limited. (NYSE:SLB) by 78.5% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,938 shares of the oil and gas company’s stock after selling 14,340 shares during the quarter. Edge Wealth Management LLC’s holdings in Schlumberger were worth $172,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of SLB. CX Institutional grew its position in shares of Schlumberger by 158.4% during the first quarter. CX Institutional now owns 646 shares of the oil and gas company’s stock worth $28,000 after purchasing an additional 396 shares in the last quarter. Berman Capital Advisors LLC purchased a new stake in shares of Schlumberger during the fourth quarter worth about $31,000. Bruderman Asset Management LLC purchased a new stake in shares of Schlumberger during the fourth quarter worth about $33,000. Sontag Advisory LLC purchased a new stake in shares of Schlumberger during the fourth quarter worth about $36,000. Finally, Exane Asset Management purchased a new position in Schlumberger during the 4th quarter valued at approximately $37,000. 78.94% of the stock is currently owned by hedge funds and other institutional investors.

Shares of SLB stock opened at $47.34 on Wednesday. Schlumberger Limited. has a 52-week low of $34.99 and a 52-week high of $75.43. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.17 and a quick ratio of 0.87. The company has a market cap of $64.31 billion, a P/E ratio of 29.22, a price-to-earnings-growth ratio of 2.46 and a beta of 1.34.

Schlumberger (NYSE:SLB) last issued its quarterly earnings results on Friday, January 18th. The oil and gas company reported $0.36 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.36. Schlumberger had a return on equity of 6.12% and a net margin of 6.51%. The firm had revenue of $8.18 billion during the quarter, compared to analyst estimates of $8.10 billion. During the same period last year, the company earned $0.48 EPS. Schlumberger’s quarterly revenue was up .0% compared to the same quarter last year. Research analysts expect that Schlumberger Limited. will post 1.59 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Friday, April 12th. Investors of record on Wednesday, February 13th were paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.22%. The ex-dividend date was Tuesday, February 12th. Schlumberger’s dividend payout ratio is currently 123.46%.

Several research firms have weighed in on SLB. Jefferies Financial Group cut Schlumberger from a “buy” rating to a “hold” rating and cut their price target for the company from $50.00 to $45.00 in a report on Friday, March 15th. Credit Suisse Group set a $44.00 price target on Schlumberger and gave the company a “hold” rating in a report on Friday, January 18th. Goldman Sachs Group assumed coverage on Schlumberger in a report on Sunday, March 10th. They set a “buy” rating and a $55.00 price target for the company. Citigroup dropped their target price on Schlumberger from $57.00 to $54.00 and set a “buy” rating for the company in a report on Friday, January 4th. Finally, Zacks Investment Research cut Schlumberger from a “hold” rating to a “strong sell” rating in a report on Friday, January 11th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and twelve have assigned a buy rating to the stock. Schlumberger currently has an average rating of “Hold” and an average target price of $65.00.

In related news, EVP Peuch Olivier Le sold 15,000 shares of the firm’s stock in a transaction that occurred on Tuesday, January 22nd. The stock was sold at an average price of $44.00, for a total transaction of $660,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.48% of the stock is currently owned by company insiders.

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Schlumberger Company Profile

Schlumberger Limited supplies technology for reservoir characterization, drilling, production, and processing to the oil and gas industry worldwide. The company's Reservoir Characterization segment offers reservoir interpretation and data processing services; open and cased-hole, and slickline services; exploration and production pressure and flow-rate measurement services; tubing-conveyed perforating services; integrated production systems; software, consulting, information management, and IT infrastructure services; reservoir characterization, field development planning, and production enhancement consulting services; petro technical data services and training solutions; and integrated management services.

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Institutional Ownership by Quarter for Schlumberger (NYSE:SLB)

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