Ronald Blue Trust Inc. trimmed its position in Schlumberger Limited (NYSE:SLB – Free Report) by 40.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 8,850 shares of the oil and gas company’s stock after selling 5,948 shares during the quarter. Ronald Blue Trust Inc.’s holdings in Schlumberger were worth $434,000 as of its most recent SEC filing.
Several other hedge funds have also made changes to their positions in SLB. WCM Investment Management LLC lifted its position in Schlumberger by 0.5% in the second quarter. WCM Investment Management LLC now owns 40,366 shares of the oil and gas company’s stock valued at $1,997,000 after buying an additional 185 shares during the last quarter. Summit Financial Group Inc. boosted its position in shares of Schlumberger by 1.4% during the 1st quarter. Summit Financial Group Inc. now owns 14,557 shares of the oil and gas company’s stock worth $715,000 after purchasing an additional 200 shares during the period. Howland Capital Management LLC increased its holdings in Schlumberger by 1.6% in the 1st quarter. Howland Capital Management LLC now owns 13,823 shares of the oil and gas company’s stock valued at $682,000 after purchasing an additional 220 shares during the last quarter. Eukles Asset Management lifted its stake in Schlumberger by 3.3% during the first quarter. Eukles Asset Management now owns 6,992 shares of the oil and gas company’s stock worth $343,000 after purchasing an additional 221 shares in the last quarter. Finally, Valmark Advisers Inc. lifted its stake in Schlumberger by 5.2% during the first quarter. Valmark Advisers Inc. now owns 4,993 shares of the oil and gas company’s stock worth $245,000 after purchasing an additional 248 shares in the last quarter. Hedge funds and other institutional investors own 79.43% of the company’s stock.
Insider Activity at Schlumberger
In other Schlumberger news, CFO Stephane Biguet sold 6,250 shares of the firm’s stock in a transaction on Monday, June 26th. The shares were sold at an average price of $46.67, for a total transaction of $291,687.50. Following the transaction, the chief financial officer now directly owns 201,015 shares of the company’s stock, valued at approximately $9,381,370.05. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Gavin Rennick sold 18,000 shares of the stock in a transaction on Monday, July 24th. The stock was sold at an average price of $56.11, for a total transaction of $1,009,980.00. Following the completion of the sale, the insider now directly owns 46,633 shares of the company’s stock, valued at $2,616,577.63. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Stephane Biguet sold 6,250 shares of the business’s stock in a transaction on Monday, June 26th. The shares were sold at an average price of $46.67, for a total transaction of $291,687.50. Following the completion of the transaction, the chief financial officer now directly owns 201,015 shares in the company, valued at $9,381,370.05. The disclosure for this sale can be found here. Insiders sold a total of 158,805 shares of company stock worth $9,220,673 in the last 90 days. 0.23% of the stock is owned by insiders.
Schlumberger Price Performance
Shares of SLB opened at $59.04 on Friday. The firm has a fifty day moving average price of $58.65 and a 200 day moving average price of $51.95. The stock has a market cap of $83.91 billion, a PE ratio of 21.55, a price-to-earnings-growth ratio of 0.74 and a beta of 1.82. Schlumberger Limited has a 1-year low of $33.80 and a 1-year high of $62.78. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.33 and a quick ratio of 0.97.
Schlumberger (NYSE:SLB – Get Free Report) last posted its earnings results on Friday, July 21st. The oil and gas company reported $0.72 earnings per share for the quarter, beating the consensus estimate of $0.71 by $0.01. The business had revenue of $8.10 billion during the quarter, compared to the consensus estimate of $8.20 billion. Schlumberger had a return on equity of 21.27% and a net margin of 12.63%. The business’s quarterly revenue was up 19.6% on a year-over-year basis. During the same period in the previous year, the business earned $0.50 EPS. As a group, sell-side analysts anticipate that Schlumberger Limited will post 2.98 EPS for the current year.
Schlumberger Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 12th. Stockholders of record on Wednesday, September 6th will be issued a $0.25 dividend. The ex-dividend date is Tuesday, September 5th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.69%. Schlumberger’s payout ratio is 36.50%.
Wall Street Analyst Weigh In
Several equities research analysts recently issued reports on the company. Benchmark reiterated a “buy” rating and issued a $65.00 price objective on shares of Schlumberger in a report on Monday, July 24th. UBS Group increased their price target on shares of Schlumberger from $72.00 to $73.00 and gave the stock a “buy” rating in a research report on Thursday, August 17th. Raymond James raised their price objective on shares of Schlumberger from $65.00 to $67.00 and gave the company an “outperform” rating in a research note on Monday, July 24th. Barclays cut their target price on shares of Schlumberger from $74.00 to $70.00 and set an “overweight” rating on the stock in a research note on Monday, July 24th. Finally, Susquehanna raised their price target on shares of Schlumberger from $68.00 to $72.00 and gave the company a “positive” rating in a research report on Thursday, September 7th. Two investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $66.93.
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, integration of adjacent energy systems; reservoir interpretation and data processing services for exploration data; and well construction and production improvement services and products.