Ipswich Investment Management Co. Inc. Sells 645 Shares of Schlumberger Limited (NYSE:SLB)

Ipswich Investment Management Co. Inc. decreased its position in Schlumberger Limited (NYSE:SLB) by 6.1% during the third quarter, HoldingsChannel reports. The firm owned 9,885 shares of the oil and gas company’s stock after selling 645 shares during the quarter. Ipswich Investment Management Co. Inc.’s holdings in Schlumberger were worth $415,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of SLB. Bruce G. Allen Investments LLC boosted its holdings in Schlumberger by 204.2% during the second quarter. Bruce G. Allen Investments LLC now owns 584 shares of the oil and gas company’s stock valued at $28,000 after acquiring an additional 392 shares during the period. ORG Partners LLC raised its holdings in Schlumberger by 393.5% in the 3rd quarter. ORG Partners LLC now owns 607 shares of the oil and gas company’s stock valued at $25,000 after acquiring an additional 484 shares in the last quarter. Unique Wealth Strategies LLC bought a new stake in shares of Schlumberger in the 2nd quarter worth approximately $30,000. Riverview Trust Co raised its stake in shares of Schlumberger by 90.6% in the 2nd quarter. Riverview Trust Co now owns 648 shares of the oil and gas company’s stock valued at $31,000 after buying an additional 308 shares in the last quarter. Finally, First Community Trust NA lifted its holdings in shares of Schlumberger by 264.0% during the 2nd quarter. First Community Trust NA now owns 728 shares of the oil and gas company’s stock worth $34,000 after acquiring an additional 528 shares during the period. 81.99% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, EVP Abdellah Merad sold 60,000 shares of the 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 owns 211,937 shares of the company’s stock, valued at $8,880,160.30. This represents a 22.06 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.26% of the stock is owned by insiders.

Schlumberger Stock Down 0.6 %

Schlumberger stock opened at $43.18 on Friday. The firm has a 50 day moving average price of $42.40 and a two-hundred day moving average price of $44.71. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.12 and a current ratio of 1.48. Schlumberger Limited has a 52-week low of $38.66 and a 52-week high of $55.69. The firm has a market cap of $60.98 billion, a price-to-earnings ratio of 13.88, a PEG ratio of 1.54 and a beta of 1.52.

Schlumberger (NYSE:SLB) last released its earnings results on Friday, October 18th. The oil and gas company reported $0.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.88 by $0.01. Schlumberger had a net margin of 12.44% and a return on equity of 21.84%. The business had revenue of $9.16 billion for the quarter, compared to analyst estimates of $9.27 billion. During the same quarter in the previous year, the business earned $0.78 earnings per share. Schlumberger’s revenue for the quarter was up 10.2% on a year-over-year basis. Equities analysts predict that Schlumberger Limited will post 3.4 EPS for the current year.

Schlumberger Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 9th. Investors of record on Wednesday, December 4th will be given a dividend of $0.275 per share. The ex-dividend date of this dividend is Wednesday, December 4th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 2.55%. Schlumberger’s payout ratio is presently 35.37%.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on SLB shares. Morgan Stanley dropped their price target on shares of Schlumberger from $65.00 to $60.00 and set an “overweight” rating for the company in a research report on Monday, September 16th. Bank of America decreased their price target on Schlumberger from $58.00 to $54.00 and set a “buy” rating on the stock in a research note on Monday, October 14th. Royal Bank of Canada reissued an “outperform” rating and set a $69.00 price objective on shares of Schlumberger in a report on Thursday, October 3rd. Dbs Bank started coverage on shares of Schlumberger in a research note on Wednesday, September 18th. They issued a “buy” rating and a $64.50 target price on the stock. Finally, Barclays cut their price target on shares of Schlumberger from $67.00 to $63.00 and set an “overweight” rating for the company in a report on Wednesday, October 16th. Two investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Schlumberger has a consensus rating of “Moderate Buy” and an average target price of $60.97.

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.