Opal Wealth Advisors LLC Trims Stock Holdings in Schlumberger Limited $SLB

Opal Wealth Advisors LLC lowered its position in Schlumberger Limited (NYSE:SLB) by 71.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 931 shares of the oil and gas company’s stock after selling 2,341 shares during the quarter. Opal Wealth Advisors LLC’s holdings in Schlumberger were worth $31,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. lifted its stake in Schlumberger by 478.8% in the first quarter. Charles Schwab Investment Management Inc. now owns 47,719,476 shares of the oil and gas company’s stock valued at $1,994,674,000 after buying an additional 39,474,501 shares during the last quarter. Boston Partners lifted its stake in Schlumberger by 27.7% in the first quarter. Boston Partners now owns 19,829,381 shares of the oil and gas company’s stock valued at $824,160,000 after buying an additional 4,300,222 shares during the last quarter. Northern Trust Corp lifted its stake in Schlumberger by 4.4% in the first quarter. Northern Trust Corp now owns 14,422,499 shares of the oil and gas company’s stock valued at $602,860,000 after buying an additional 604,832 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in Schlumberger by 22.8% in the first quarter. Dimensional Fund Advisors LP now owns 8,989,115 shares of the oil and gas company’s stock valued at $375,738,000 after buying an additional 1,667,203 shares during the last quarter. Finally, Invesco Ltd. lifted its stake in Schlumberger by 3.8% in the first quarter. Invesco Ltd. now owns 7,659,177 shares of the oil and gas company’s stock valued at $320,154,000 after buying an additional 281,937 shares during the last quarter. Hedge funds and other institutional investors own 81.99% of the company’s stock.

Schlumberger Trading Up 0.4%

Shares of SLB stock opened at $34.63 on Thursday. The business’s fifty day moving average price is $34.61 and its 200 day moving average price is $35.47. Schlumberger Limited has a 1-year low of $31.11 and a 1-year high of $46.15. The firm has a market capitalization of $51.73 billion, a PE ratio of 11.86, a P/E/G ratio of 9.57 and a beta of 1.05. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.31 and a quick ratio of 0.98.

Schlumberger (NYSE:SLB) last announced its quarterly earnings data on Friday, July 18th. The oil and gas company reported $0.74 earnings per share for the quarter, topping analysts’ consensus estimates of $0.73 by $0.01. Schlumberger had a return on equity of 20.99% and a net margin of 11.53%.The firm had revenue of $8.55 billion for the quarter, compared to analyst estimates of $8.51 billion. During the same quarter in the prior year, the company posted $0.85 earnings per share. Schlumberger’s quarterly revenue was down 6.5% on a year-over-year basis. As a group, sell-side analysts forecast that Schlumberger Limited will post 3.38 EPS for the current fiscal year.

Schlumberger Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 9th. Shareholders of record on Wednesday, September 3rd will be issued a $0.285 dividend. The ex-dividend date of this dividend is Wednesday, September 3rd. This represents a $1.14 annualized dividend and a yield of 3.3%. Schlumberger’s dividend payout ratio is 39.04%.

Analyst Ratings Changes

A number of research firms have recently issued reports on SLB. Melius began coverage on Schlumberger in a report on Wednesday, August 20th. They issued a “buy” rating and a $82.00 target price on the stock. Stifel Nicolaus dropped their target price on Schlumberger from $54.00 to $52.00 and set a “buy” rating on the stock in a report on Wednesday, July 16th. Wells Fargo & Company lowered Schlumberger from a “strong-buy” rating to a “hold” rating in a report on Sunday, July 20th. Susquehanna dropped their target price on Schlumberger from $44.00 to $42.00 and set a “positive” rating on the stock in a report on Monday, July 21st. Finally, Jefferies Financial Group dropped their target price on Schlumberger from $54.00 to $53.00 and set a “buy” rating on the stock in a report on Thursday, June 26th. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $52.18.

Insiders Place Their Bets

In other Schlumberger news, insider Dianne B. Ralston sold 39,727 shares of the company’s stock in a transaction on Friday, September 12th. The stock was sold at an average price of $36.08, for a total value 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. This represents a 16.42% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.22% of the company’s stock.

Schlumberger Company 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.