Schlumberger Limited $SLB Shares Sold by Ascent Group LLC

Ascent Group LLC cut its holdings in Schlumberger Limited (NYSE:SLB) by 16.4% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 29,210 shares of the oil and gas company’s stock after selling 5,731 shares during the quarter. Ascent Group LLC’s holdings in Schlumberger were worth $987,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Brighton Jones LLC increased its holdings in shares of Schlumberger by 21.4% in the 4th quarter. Brighton Jones LLC now owns 6,611 shares of the oil and gas company’s stock valued at $253,000 after purchasing an additional 1,166 shares in the last quarter. Bison Wealth LLC purchased a new position in Schlumberger in the fourth quarter valued at about $238,000. UMB Bank n.a. increased its holdings in Schlumberger by 45.8% in the first quarter. UMB Bank n.a. now owns 33,109 shares of the oil and gas company’s stock valued at $1,384,000 after buying an additional 10,397 shares in the last quarter. Washington Capital Management Inc. boosted its stake in shares of Schlumberger by 35.7% during the 1st quarter. Washington Capital Management Inc. now owns 30,385 shares of the oil and gas company’s stock worth $1,270,000 after acquiring an additional 8,000 shares in the last quarter. Finally, SOA Wealth Advisors LLC. grew its holdings in shares of Schlumberger by 19,553.3% in the 1st quarter. SOA Wealth Advisors LLC. now owns 2,948 shares of the oil and gas company’s stock worth $123,000 after acquiring an additional 2,933 shares during the period. Hedge funds and other institutional investors own 81.99% of the company’s stock.

Schlumberger Stock Up 0.4%

SLB stock opened at $34.26 on Monday. Schlumberger Limited has a one year low of $31.11 and a one year high of $46.15. The stock has a market capitalization of $51.17 billion, a P/E ratio of 11.73, a PEG ratio of 9.51 and a beta of 0.97. The company has a 50 day moving average price of $34.63 and a two-hundred day moving average price of $35.10. 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 (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, topping the consensus estimate of $0.73 by $0.01. The business had revenue of $8.55 billion for the quarter, compared to analysts’ expectations of $8.51 billion. Schlumberger had a return on equity of 20.99% and a net margin of 11.53%.The business’s revenue was down 6.5% on a year-over-year basis. During the same quarter last year, the firm earned $0.85 earnings per share. As a group, sell-side analysts expect that Schlumberger Limited will post 3.38 EPS for the current year.

Schlumberger Dividend Announcement

The business 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 $0.285 dividend. This represents a $1.14 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date is Wednesday, September 3rd. Schlumberger’s payout ratio is presently 39.04%.

Analyst Ratings Changes

Several equities analysts recently issued reports on SLB shares. Barclays reduced their price objective on Schlumberger from $47.00 to $46.00 and set an “overweight” rating for the company in a report on Monday, July 21st. Atb Cap Markets raised Schlumberger from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, July 1st. Melius assumed coverage on shares of Schlumberger in a research note on Wednesday, August 20th. They issued a “buy” rating and a $82.00 price objective on the stock. UBS Group cut their target price on shares of Schlumberger from $45.00 to $44.00 and set a “buy” rating for the company in a research report on Wednesday, August 20th. Finally, Piper Sandler lowered their price target on shares of Schlumberger from $44.00 to $42.00 and set a “neutral” rating on the stock in a research report on Friday, July 18th. Two analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $52.18.

Insider Buying and Selling

In other Schlumberger news, insider Dianne B. Ralston sold 39,727 shares of the stock in a transaction that occurred on Friday, September 12th. The shares were sold at an average price of $36.08, for a total transaction of $1,433,350.16. Following the transaction, the insider owned 202,201 shares of the company’s stock, 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 SEC, which is accessible through this hyperlink. 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.