Crumly & Associates Inc. Sells 700 Shares of Schlumberger Limited $SLB

Crumly & Associates Inc. lowered its position in Schlumberger Limited (NYSE:SLB) by 4.7% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 14,299 shares of the oil and gas company’s stock after selling 700 shares during the period. Crumly & Associates Inc.’s holdings in Schlumberger were worth $483,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in SLB. Vident Advisory LLC lifted its stake in Schlumberger by 1.0% in the 4th quarter. Vident Advisory LLC now owns 27,838 shares of the oil and gas company’s stock valued at $1,067,000 after purchasing an additional 273 shares during the last quarter. Glen Eagle Advisors LLC lifted its position in Schlumberger by 3.7% during the fourth quarter. Glen Eagle Advisors LLC now owns 7,843 shares of the oil and gas company’s stock worth $301,000 after acquiring an additional 282 shares during the last quarter. EntryPoint Capital LLC lifted its position in Schlumberger by 4.5% during the first quarter. EntryPoint Capital LLC now owns 7,348 shares of the oil and gas company’s stock worth $307,000 after acquiring an additional 316 shares during the last quarter. Heritage Wealth Management Inc. Texas lifted its position in Schlumberger by 2.2% during the first quarter. Heritage Wealth Management Inc. Texas now owns 14,736 shares of the oil and gas company’s stock worth $616,000 after acquiring an additional 318 shares during the last quarter. Finally, Horizon Investments LLC lifted its position in Schlumberger by 1.5% during the first quarter. Horizon Investments LLC now owns 22,633 shares of the oil and gas company’s stock worth $946,000 after acquiring an additional 330 shares during the last quarter. Institutional investors own 81.99% of the company’s stock.

Analyst Ratings Changes

Several brokerages have issued reports on SLB. Piper Sandler cut their price objective on shares of Schlumberger from $44.00 to $42.00 and set a “neutral” rating for the company in a research report on Friday, July 18th. Atb Cap Markets upgraded shares of Schlumberger from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, July 1st. Melius began coverage on shares of Schlumberger in a research report on Wednesday, August 20th. They set a “buy” rating and a $82.00 price objective for the company. JPMorgan Chase & Co. cut their price objective on shares of Schlumberger from $46.00 to $44.00 and set an “overweight” rating for the company in a research report on Monday, June 30th. Finally, Jefferies Financial Group cut their price objective on shares of Schlumberger from $54.00 to $53.00 and set a “buy” rating for the company in a research report on Thursday, June 26th. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $52.86.

Schlumberger Stock Down 1.2%

Shares of SLB opened at $35.58 on Friday. Schlumberger Limited has a 12 month low of $31.11 and a 12 month high of $46.15. The firm’s 50 day moving average is $34.82 and its 200-day moving average is $35.79. The stock has a market capitalization of $53.14 billion, a PE ratio of 12.18, a P/E/G ratio of 10.00 and a beta of 1.05. The company has a current ratio of 1.31, a quick ratio of 0.98 and a debt-to-equity ratio of 0.51.

Schlumberger (NYSE:SLB) last announced its earnings results on Friday, July 18th. The oil and gas company reported $0.74 EPS for the quarter, topping the consensus estimate of $0.73 by $0.01. Schlumberger had a net margin of 11.53% and a return on equity of 20.99%. The company had revenue of $8.55 billion for the quarter, compared to analysts’ expectations of $8.51 billion. During the same period last year, the firm earned $0.85 earnings per share. The business’s revenue for the quarter was down 6.5% on a year-over-year basis. Equities research analysts forecast that Schlumberger Limited will post 3.38 EPS for the current year.

Schlumberger Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 9th. Shareholders of record on Wednesday, September 3rd will be paid a dividend of $0.285 per share. This represents a $1.14 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date of this dividend is Wednesday, September 3rd. Schlumberger’s payout ratio is presently 39.04%.

Insider Buying and Selling at Schlumberger

In other Schlumberger news, insider Dianne B. Ralston sold 39,727 shares of the business’s stock in a transaction on Friday, September 12th. The shares were sold at an average price of $36.08, for a total transaction of $1,433,350.16. Following the sale, the insider owned 202,201 shares of the company’s stock, valued at approximately $7,295,412.08. The trade was a 16.42% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 0.26% of the company’s stock.

Schlumberger Profile

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.