Schlumberger Limited $SLB Shares Sold by InvesTrust

InvesTrust reduced its stake in Schlumberger Limited (NYSE:SLB) by 62.3% in the second quarter, HoldingsChannel.com reports. The fund owned 39,853 shares of the oil and gas company’s stock after selling 65,885 shares during the quarter. InvesTrust’s holdings in Schlumberger were worth $1,347,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently bought and sold shares of SLB. Brighton Jones LLC boosted its stake in Schlumberger by 21.4% in the fourth quarter. Brighton Jones LLC now owns 6,611 shares of the oil and gas company’s stock valued at $253,000 after acquiring an additional 1,166 shares during the period. Bison Wealth LLC bought a new stake in shares of Schlumberger during the fourth quarter valued at approximately $238,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Schlumberger by 4.9% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 140,587 shares of the oil and gas company’s stock valued at $5,390,000 after buying an additional 6,597 shares during the last quarter. NorthRock Partners LLC raised its holdings in shares of Schlumberger by 68.9% during the fourth quarter. NorthRock Partners LLC now owns 17,865 shares of the oil and gas company’s stock valued at $685,000 after buying an additional 7,287 shares during the last quarter. Finally, Man Group plc raised its holdings in shares of Schlumberger by 132.9% during the fourth quarter. Man Group plc now owns 417,104 shares of the oil and gas company’s stock valued at $15,992,000 after buying an additional 237,992 shares during the last quarter. 81.99% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. UBS Group cut their price target on Schlumberger from $45.00 to $44.00 and set a “buy” rating on the stock in a report on Wednesday, August 20th. Piper Sandler cut their price target on Schlumberger from $44.00 to $42.00 and set a “neutral” rating on the stock in a report on Friday, July 18th. Jefferies Financial Group cut their price target on Schlumberger from $54.00 to $53.00 and set a “buy” rating on the stock in a report on Thursday, June 26th. JPMorgan Chase & Co. cut their price target on Schlumberger from $46.00 to $44.00 and set an “overweight” rating on the stock in a report on Monday, June 30th. Finally, Stifel Nicolaus cut their price target on Schlumberger from $54.00 to $52.00 and set a “buy” rating on the stock in a report on Wednesday, July 16th. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $52.86.

Insider Activity

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 transaction, 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 filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.26% of the company’s stock.

Schlumberger Price Performance

Shares of NYSE: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 stock has a market cap of $53.14 billion, a price-to-earnings ratio of 12.18, a PEG ratio of 10.00 and a beta of 1.05. The stock’s 50 day moving average price is $34.82 and its 200 day moving average price is $35.79. 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 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 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 analysts’ expectations of $8.51 billion. During the same quarter in the previous year, the company earned $0.85 earnings per share. The firm’s quarterly revenue was down 6.5% compared to the same quarter last year. Equities research analysts anticipate that Schlumberger Limited will post 3.38 earnings per share for the current fiscal year.

Schlumberger Announces Dividend

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

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.