Wilmington Savings Fund Society FSB Decreases Stock Holdings in Schlumberger Limited $SLB

Wilmington Savings Fund Society FSB trimmed its holdings in shares of Schlumberger Limited (NYSE:SLB) by 6.9% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 64,249 shares of the oil and gas company’s stock after selling 4,729 shares during the quarter. Wilmington Savings Fund Society FSB’s holdings in Schlumberger were worth $2,172,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of SLB. EntryPoint Capital LLC raised its position in Schlumberger by 4.5% during the first 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 in the last quarter. Heritage Wealth Management Inc. Texas increased its holdings in shares of Schlumberger by 2.2% in the first quarter. Heritage Wealth Management Inc. Texas now owns 14,736 shares of the oil and gas company’s stock worth $616,000 after buying an additional 318 shares during the period. Horizon Investments LLC increased its holdings in shares of Schlumberger by 1.5% in the first quarter. Horizon Investments LLC now owns 22,633 shares of the oil and gas company’s stock worth $946,000 after buying an additional 330 shares during the period. CreativeOne Wealth LLC increased its holdings in shares of Schlumberger by 6.3% in the first quarter. CreativeOne Wealth LLC now owns 5,655 shares of the oil and gas company’s stock worth $236,000 after buying an additional 335 shares during the period. Finally, Forza Wealth Management LLC increased its holdings in shares of Schlumberger by 5.8% in the first quarter. Forza Wealth Management LLC now owns 6,374 shares of the oil and gas company’s stock worth $266,000 after buying an additional 350 shares during the period. 81.99% of the stock is owned by hedge funds and other institutional investors.

Schlumberger Stock Performance

Schlumberger stock opened at $32.55 on Thursday. The stock’s 50 day simple moving average is $34.49 and its two-hundred day simple moving average is $34.71. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.98 and a current ratio of 1.31. The stock has a market cap of $48.62 billion, a price-to-earnings ratio of 11.15, a PEG ratio of 9.06 and a beta of 0.97. Schlumberger Limited has a fifty-two week low of $31.11 and a fifty-two week high of $44.97.

Schlumberger (NYSE:SLB) last posted its quarterly earnings data on Friday, July 18th. The oil and gas company reported $0.74 earnings per share for the quarter, beating the consensus estimate of $0.73 by $0.01. Schlumberger had a return on equity of 20.99% and a net margin of 11.53%.The business had revenue of $8.55 billion for the quarter, compared to analysts’ expectations of $8.51 billion. During the same period in the previous year, the firm posted $0.85 EPS. The business’s revenue was down 6.5% on a year-over-year basis. As a group, analysts expect that Schlumberger Limited will post 3.38 earnings per share for the current fiscal year.

Insider Activity at Schlumberger

In other news, insider Dianne B. Ralston sold 39,727 shares of the business’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 directly owned 202,201 shares of the company’s stock, valued at $7,295,412.08. The trade was a 16.42% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.22% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. Piper Sandler decreased their price objective on Schlumberger from $44.00 to $42.00 and set a “neutral” rating on the stock in a report on Friday, July 18th. Jefferies Financial Group decreased their price objective on Schlumberger from $54.00 to $53.00 and set a “buy” rating on the stock in a report on Thursday, June 26th. Stifel Nicolaus decreased their price objective on Schlumberger from $54.00 to $52.00 and set a “buy” rating on the stock in a report on Wednesday, July 16th. Melius started coverage on Schlumberger in a research note on Wednesday, August 20th. They issued a “buy” rating and a $82.00 target price on the stock. Finally, JPMorgan Chase & Co. cut their target price on Schlumberger from $46.00 to $44.00 and set an “overweight” rating on the stock in a research note on Monday, June 30th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat.com, Schlumberger currently has an average rating of “Moderate Buy” and an average price target of $52.06.

Schlumberger 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.