Laurel Wealth Advisors LLC Trims Holdings in Schlumberger Limited (NYSE:SLB)

Laurel Wealth Advisors LLC reduced its position in shares of Schlumberger Limited (NYSE:SLB) by 16.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,351 shares of the oil and gas company’s stock after selling 1,060 shares during the period. Laurel Wealth Advisors LLC’s holdings in Schlumberger were worth $224,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. TCW Group Inc. boosted its position in Schlumberger by 1.3% during the 4th quarter. TCW Group Inc. now owns 19,797 shares of the oil and gas company’s stock worth $759,000 after acquiring an additional 259 shares during the period. Vident Advisory LLC lifted its position in shares of Schlumberger by 1.0% in the fourth quarter. Vident Advisory LLC now owns 27,838 shares of the oil and gas company’s stock worth $1,067,000 after purchasing an additional 273 shares in the last quarter. Glen Eagle Advisors LLC boosted its holdings in shares of 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 purchasing an additional 282 shares during the period. Cromwell Holdings LLC grew its position in Schlumberger by 7.0% during the fourth quarter. Cromwell Holdings LLC now owns 4,350 shares of the oil and gas company’s stock valued at $167,000 after purchasing an additional 283 shares in the last quarter. Finally, Laidlaw Wealth Management LLC increased its stake in Schlumberger by 1.3% in the 4th quarter. Laidlaw Wealth Management LLC now owns 23,085 shares of the oil and gas company’s stock valued at $885,000 after buying an additional 305 shares during the period. Institutional investors and hedge funds own 81.99% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently commented on SLB. Barclays lowered their price target on shares of Schlumberger from $53.00 to $48.00 and set an “overweight” rating on the stock in a report on Friday, April 25th. Wells Fargo & Company dropped their target price on Schlumberger from $46.00 to $43.00 and set an “overweight” rating on the stock in a research report on Thursday, June 5th. Stifel Nicolaus reduced their price target on Schlumberger from $58.00 to $54.00 and set a “buy” rating for the company in a report on Monday, April 28th. Jefferies Financial Group reduced their target price on shares of Schlumberger from $60.00 to $59.00 and set a “buy” rating for the company in a research note on Thursday, March 27th. Finally, Piper Sandler dropped their price target on shares of Schlumberger from $46.00 to $44.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 29th. Four equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $52.38.

Schlumberger Price Performance

Shares of Schlumberger stock opened at $35.52 on Wednesday. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.45 and a quick ratio of 1.11. The company has a market cap of $48.31 billion, a PE ratio of 11.42, a price-to-earnings-growth ratio of 10.10 and a beta of 1.01. The firm has a fifty day moving average price of $34.20 and a two-hundred day moving average price of $38.51. Schlumberger Limited has a fifty-two week low of $31.11 and a fifty-two week high of $50.94.

Schlumberger (NYSE:SLB) last released its earnings results on Friday, April 25th. The oil and gas company reported $0.72 earnings per share for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.01). Schlumberger had a return on equity of 21.90% and a net margin of 12.29%. The firm had revenue of $8.49 billion for the quarter, compared to analyst estimates of $8.64 billion. During the same period last year, the business earned $0.75 earnings per share. The firm’s quarterly revenue was down 2.5% compared to the same quarter last year. Analysts expect that Schlumberger Limited will post 3.38 EPS for the current year.

Schlumberger Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 10th. Investors of record on Wednesday, June 4th will be paid a $0.285 dividend. The ex-dividend date of this dividend is Wednesday, June 4th. This represents a $1.14 dividend on an annualized basis and a dividend yield of 3.21%. Schlumberger’s payout ratio is 38.64%.

Insider Buying and Selling

In other Schlumberger news, insider Aparna Raman sold 25,133 shares of the company’s stock in a transaction on Friday, March 28th. The stock was sold at an average price of $42.28, for a total value of $1,062,623.24. Following the sale, the insider now directly owns 31,031 shares in the company, valued at $1,311,990.68. This represents a 44.75% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director La Chevardiere Patrick De sold 5,000 shares of the stock in a transaction on Thursday, May 22nd. The stock was sold at an average price of $33.58, for a total value of $167,900.00. Following the transaction, the director now owns 23,525 shares of the company’s stock, valued at $789,969.50. This represents a 17.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.26% of the stock is owned by company insiders.

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, and integration of adjacent energy systems; reservoir interpretation and data processing services for exploration data; and well construction and production improvement services and products.