Summit Investment Advisors Inc. Sells 624 Shares of Schlumberger Limited (NYSE:SLB)

Summit Investment Advisors Inc. lessened its stake in Schlumberger Limited (NYSE:SLB) by 4.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 13,759 shares of the oil and gas company’s stock after selling 624 shares during the period. Summit Investment Advisors Inc.’s holdings in Schlumberger were worth $528,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Synovus Financial Corp increased its position in Schlumberger by 1.1% in the fourth quarter. Synovus Financial Corp now owns 110,947 shares of the oil and gas company’s stock worth $4,254,000 after buying an additional 1,230 shares in the last quarter. Stamos Capital Partners L.P. bought a new position in shares of Schlumberger in the fourth quarter worth approximately $2,830,000. Sanders Capital LLC increased its stake in shares of Schlumberger by 1.9% in the fourth quarter. Sanders Capital LLC now owns 10,697,985 shares of the oil and gas company’s stock worth $410,161,000 after purchasing an additional 203,766 shares in the last quarter. WealthTrust Axiom LLC lifted its stake in shares of Schlumberger by 46.2% during the 4th quarter. WealthTrust Axiom LLC now owns 127,433 shares of the oil and gas company’s stock valued at $4,886,000 after buying an additional 40,260 shares in the last quarter. Finally, Sagespring Wealth Partners LLC bought a new position in Schlumberger in the 4th quarter worth $366,000. 81.99% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Schlumberger news, VP Ugo Prechner sold 7,000 shares of the firm’s stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $44.20, for a total value of $309,400.00. Following the completion of the sale, the vice president now owns 11,240 shares of the company’s stock, valued at approximately $496,808. This trade represents a 38.38 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Vijay Kasibhatla sold 25,000 shares of the company’s stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $43.94, for a total transaction of $1,098,500.00. Following the transaction, the director now owns 49,595 shares in the company, valued at approximately $2,179,204.30. This trade represents a 33.51 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 315,905 shares of company stock worth $13,609,283. 0.26% of the stock is currently owned by company insiders.

Schlumberger Stock Up 2.8 %

Shares of NYSE:SLB opened at $35.09 on Friday. The stock has a market cap of $47.72 billion, a P/E ratio of 11.28, a price-to-earnings-growth ratio of 10.10 and a beta of 1.11. The company has a quick ratio of 1.11, a current ratio of 1.45 and a debt-to-equity ratio of 0.49. Schlumberger Limited has a 52-week low of $31.11 and a 52-week high of $50.94. The business’s 50 day moving average is $39.35 and its 200 day moving average is $40.77.

Schlumberger (NYSE:SLB) last announced its quarterly earnings results on Friday, January 17th. The oil and gas company reported $0.92 earnings per share for the quarter, topping the consensus estimate of $0.90 by $0.02. The firm had revenue of $9.28 billion during the quarter, compared to analysts’ expectations of $9.24 billion. Schlumberger had a net margin of 12.29% and a return on equity of 21.90%. The company’s revenue was up 3.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.86 EPS. Sell-side analysts predict that Schlumberger Limited will post 3.38 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on SLB shares. Citigroup upped their price objective on Schlumberger from $50.00 to $54.00 and gave the stock a “buy” rating in a research note on Tuesday, January 21st. Jefferies Financial Group cut their target price on shares of Schlumberger from $60.00 to $59.00 and set a “buy” rating for the company in a research note on Thursday, March 27th. BMO Capital Markets dropped their price objective on shares of Schlumberger from $53.00 to $48.00 in a report on Thursday, January 16th. Evercore ISI reiterated an “in-line” rating and issued a $44.00 target price (down from $62.00) on shares of Schlumberger in a research report on Wednesday, January 15th. Finally, Wells Fargo & Company raised Schlumberger from an “equal weight” rating to an “overweight” rating and reduced their price objective for the stock from $46.00 to $44.00 in a research note on Tuesday, April 8th. Five research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Schlumberger has an average rating of “Moderate Buy” and an average price target of $54.15.

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.