Baxter Bros Inc. Trims Holdings in Schlumberger Limited $SLB

Baxter Bros Inc. cut its stake in Schlumberger Limited (NYSE:SLB) by 58.7% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 8,570 shares of the oil and gas company’s stock after selling 12,195 shares during the quarter. Baxter Bros Inc.’s holdings in Schlumberger were worth $290,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. EntryPoint Capital LLC raised its position in Schlumberger by 4.5% during the 1st quarter. EntryPoint Capital LLC now owns 7,348 shares of the oil and gas company’s stock valued at $307,000 after purchasing an additional 316 shares during the last quarter. Heritage Wealth Management Inc. Texas raised its position in Schlumberger by 2.2% during the 1st quarter. Heritage Wealth Management Inc. Texas now owns 14,736 shares of the oil and gas company’s stock valued at $616,000 after purchasing an additional 318 shares during the last quarter. Horizon Investments LLC raised its position in Schlumberger by 1.5% during the 1st quarter. Horizon Investments LLC now owns 22,633 shares of the oil and gas company’s stock valued at $946,000 after purchasing an additional 330 shares during the last quarter. CreativeOne Wealth LLC raised its position in Schlumberger by 6.3% during the 1st quarter. CreativeOne Wealth LLC now owns 5,655 shares of the oil and gas company’s stock valued at $236,000 after purchasing an additional 335 shares during the last quarter. Finally, Forza Wealth Management LLC raised its position in Schlumberger by 5.8% during the 1st quarter. Forza Wealth Management LLC now owns 6,374 shares of the oil and gas company’s stock valued at $266,000 after purchasing an additional 350 shares during the last quarter. 81.99% of the stock is currently owned by hedge funds and other institutional investors.

Schlumberger Stock Performance

Schlumberger stock opened at $33.99 on Thursday. The company has a quick ratio of 0.98, a current ratio of 1.31 and a debt-to-equity ratio of 0.51. The company has a market capitalization of $50.77 billion, a P/E ratio of 11.64, a PEG ratio of 9.56 and a beta of 0.97. The stock’s 50 day moving average is $34.57 and its 200 day moving average is $35.04. Schlumberger Limited has a twelve month low of $31.11 and a twelve month high of $45.12.

Schlumberger (NYSE:SLB) last posted its quarterly earnings results on Friday, July 18th. The oil and gas company reported $0.74 earnings per share for the quarter, topping the consensus estimate of $0.73 by $0.01. The company had revenue of $8.55 billion for the quarter, compared to the consensus estimate of $8.51 billion. Schlumberger had a return on equity of 20.99% and a net margin of 11.53%.The firm’s quarterly revenue was down 6.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.85 EPS. On average, equities research analysts predict that Schlumberger Limited will post 3.38 earnings per share for the current fiscal year.

Schlumberger Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 9th. Investors of record on Wednesday, September 3rd will be paid a $0.285 dividend. The ex-dividend date is Wednesday, September 3rd. This represents a $1.14 annualized dividend and a dividend yield of 3.4%. Schlumberger’s dividend payout ratio is presently 39.04%.

Analysts Set New Price Targets

SLB has been the subject of a number of recent analyst reports. Zacks Research raised Schlumberger from a “strong sell” rating to a “hold” rating in a research report on Monday, September 15th. Susquehanna lowered their price target on Schlumberger from $44.00 to $42.00 and set a “positive” rating for the company in a research report on Monday, July 21st. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Schlumberger in a research report on Wednesday. JPMorgan Chase & Co. decreased their target price on Schlumberger from $46.00 to $44.00 and set an “overweight” rating for the company in a research report on Monday, June 30th. Finally, Melius Research initiated coverage on Schlumberger in a research report on Wednesday, August 20th. They issued a “buy” rating and a $82.00 target price for the company. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $52.18.

Insider Buying and Selling at Schlumberger

In related news, insider Dianne B. Ralston sold 39,727 shares of the company’s stock in a transaction that occurred 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 sale, the insider owned 202,201 shares in the company, valued at $7,295,412.08. This represents a 16.42% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 0.22% of the stock is owned by insiders.

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.