Tritonpoint Wealth LLC Has $489,000 Stake in Schlumberger Limited $SLB

Tritonpoint Wealth LLC decreased its holdings in shares of Schlumberger Limited (NYSE:SLB) by 29.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,314 shares of the oil and gas company’s stock after selling 5,968 shares during the quarter. Tritonpoint Wealth LLC’s holdings in Schlumberger were worth $489,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. First Command Advisory Services Inc. grew its position in shares of Schlumberger by 300.0% during the 1st quarter. First Command Advisory Services Inc. now owns 636 shares of the oil and gas company’s stock worth $27,000 after buying an additional 477 shares during the period. Atticus Wealth Management LLC bought a new position in Schlumberger during the 2nd quarter worth approximately $29,000. Atlas Capital Advisors Inc. bought a new position in Schlumberger during the 1st quarter worth approximately $33,000. Thurston Springer Miller Herd & Titak Inc. boosted its stake in Schlumberger by 55.3% during the 2nd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 983 shares of the oil and gas company’s stock worth $33,000 after acquiring an additional 350 shares during the last quarter. Finally, Alpine Bank Wealth Management bought a new position in Schlumberger during the 1st quarter worth approximately $34,000. Institutional investors and hedge funds own 81.99% of the company’s stock.

Schlumberger Stock Performance

Shares of SLB opened at $35.51 on Monday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.98 and a current ratio of 1.31. Schlumberger Limited has a twelve month low of $31.11 and a twelve month high of $46.15. The firm’s 50 day moving average price is $34.65 and its two-hundred day moving average price is $35.33. The firm has a market cap of $53.04 billion, a P/E ratio of 12.16, a PEG ratio of 9.86 and a beta of 1.05.

Schlumberger (NYSE:SLB) last posted its quarterly earnings data on Friday, July 18th. The oil and gas company reported $0.74 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $8.51 billion. During the same period last year, the company earned $0.85 earnings per share. The firm’s revenue was down 6.5% compared to the same quarter last year. On average, analysts forecast that Schlumberger Limited will post 3.38 EPS for the current fiscal year.

Schlumberger Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 9th. Stockholders of record on Wednesday, September 3rd will be issued a $0.285 dividend. The ex-dividend date is Wednesday, September 3rd. This represents a $1.14 dividend on an annualized basis and a dividend yield of 3.2%. Schlumberger’s dividend payout ratio (DPR) is 39.04%.

Insider Activity

In other news, insider Dianne B. Ralston sold 39,727 shares of Schlumberger stock in a transaction that occurred on Friday, September 12th. The shares were sold at an average price of $36.08, for a total value of $1,433,350.16. Following the sale, the insider directly owned 202,201 shares in the company, valued at $7,295,412.08. This trade 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 available at the SEC website. 0.22% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. UBS Group reduced their price objective on shares of Schlumberger from $45.00 to $44.00 and set a “buy” rating on the stock in a research note on Wednesday, August 20th. Piper Sandler reduced their price objective on shares of Schlumberger from $44.00 to $42.00 and set a “neutral” rating on the stock in a research note on Friday, July 18th. JPMorgan Chase & Co. reduced their price objective on shares of Schlumberger from $46.00 to $44.00 and set an “overweight” rating on the stock in a research note on Monday, June 30th. Melius assumed coverage on shares of Schlumberger in a research note on Wednesday, August 20th. They set a “buy” rating and a $82.00 price objective on the stock. Finally, Wells Fargo & Company lowered shares of Schlumberger from a “strong-buy” rating to a “hold” rating in a research note on Sunday, July 20th. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Schlumberger has a consensus rating of “Moderate Buy” and an average target price of $52.18.

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.