Newbridge Financial Services Group Inc. Has $509,000 Holdings in Schlumberger Limited (NYSE:SLB)

Newbridge Financial Services Group Inc. reduced its stake in shares of Schlumberger Limited (NYSE:SLBGet Rating) by 6.1% in the 2nd quarter, Holdings Channel.com reports. The firm owned 14,228 shares of the oil and gas company’s stock after selling 927 shares during the quarter. Newbridge Financial Services Group Inc.’s holdings in Schlumberger were worth $509,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently bought and sold shares of the company. Sugarloaf Wealth Management LLC grew its holdings in Schlumberger by 1,059.6% during the 1st quarter. Sugarloaf Wealth Management LLC now owns 603 shares of the oil and gas company’s stock worth $25,000 after acquiring an additional 551 shares during the last quarter. Acadian Asset Management LLC acquired a new stake in shares of Schlumberger in the 1st quarter valued at approximately $25,000. JFS Wealth Advisors LLC raised its position in shares of Schlumberger by 95.6% in the 1st quarter. JFS Wealth Advisors LLC now owns 618 shares of the oil and gas company’s stock valued at $26,000 after acquiring an additional 302 shares during the period. WD Rutherford LLC acquired a new stake in shares of Schlumberger in the 1st quarter valued at approximately $26,000. Finally, Crewe Advisors LLC raised its position in shares of Schlumberger by 768.4% in the 1st quarter. Crewe Advisors LLC now owns 660 shares of the oil and gas company’s stock valued at $27,000 after acquiring an additional 584 shares during the period. 78.71% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

SLB has been the topic of a number of analyst reports. Benchmark upgraded shares of Schlumberger from a “hold” rating to a “buy” rating and set a $55.00 price target on the stock in a research report on Wednesday, July 27th. The Goldman Sachs Group dropped their target price on shares of Schlumberger from $54.00 to $45.00 and set a “buy” rating on the stock in a report on Wednesday, July 13th. Cowen raised their target price on shares of Schlumberger from $47.00 to $49.00 and gave the stock an “outperform” rating in a report on Monday, July 25th. StockNews.com downgraded shares of Schlumberger from a “buy” rating to a “hold” rating in a report on Friday, August 19th. Finally, Morgan Stanley dropped their target price on shares of Schlumberger from $50.00 to $45.00 and set an “overweight” rating on the stock in a report on Wednesday, July 13th. One equities research analyst has rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $47.01.

Schlumberger Trading Down 9.6 %

SLB stock traded down $3.66 during trading on Friday, hitting $34.57. The company had a trading volume of 950,650 shares, compared to its average volume of 10,468,639. The business has a 50-day moving average of $36.97 and a 200-day moving average of $39.51. Schlumberger Limited has a one year low of $27.23 and a one year high of $49.83. The stock has a market cap of $48.90 billion, a PE ratio of 18.91, a PEG ratio of 0.48 and a beta of 1.81. The company has a current ratio of 1.35, a quick ratio of 0.98 and a debt-to-equity ratio of 0.78.

Schlumberger (NYSE:SLBGet Rating) last issued its quarterly earnings results on Friday, July 22nd. The oil and gas company reported $0.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.40 by $0.10. Schlumberger had a return on equity of 15.06% and a net margin of 10.56%. The firm had revenue of $6.77 billion for the quarter, compared to analyst estimates of $6.28 billion. During the same period in the previous year, the firm earned $0.30 earnings per share. The company’s revenue was up 20.2% compared to the same quarter last year. Research analysts predict that Schlumberger Limited will post 2.02 earnings per share for the current fiscal year.

Schlumberger Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 13th. Investors of record on Wednesday, September 7th will be given a $0.175 dividend. This represents a $0.70 dividend on an annualized basis and a yield of 2.02%. The ex-dividend date of this dividend is Tuesday, September 6th. Schlumberger’s payout ratio is currently 38.04%.

Schlumberger Company Profile

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Schlumberger Limited provides technology for the energy industry worldwide. The company operates through four divisions: Digital & Integration, Reservoir Performance, Well Construction, and Production Systems. It offers software, information management, and IT infrastructure services; consulting services for reservoir characterization, field development planning, and production enhancement; petro technical data services and training solutions; reservoir interpretation and data processing services; asset performance solutions; open and cased-hole services; exploration and production pressure and flow-rate measurement services; pressure pumping, well stimulation, and coiled tubing equipment for downhole mechanical well intervention, reservoir monitoring, and downhole data acquisition; and integrated production systems.

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Institutional Ownership by Quarter for Schlumberger (NYSE:SLB)

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