Schlumberger Limited (NYSE:SLB) Stock Holdings Lessened by Reliant Investment Management LLC

Reliant Investment Management LLC cut its holdings in Schlumberger Limited (NYSE:SLB) by 2.0% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 125,043 shares of the oil and gas company’s stock after selling 2,495 shares during the quarter. Schlumberger accounts for approximately 3.2% of Reliant Investment Management LLC’s investment portfolio, making the stock its 10th largest position. Reliant Investment Management LLC’s holdings in Schlumberger were worth $6,854,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the business. Vanguard Group Inc. raised its holdings in Schlumberger by 1.3% during the 4th quarter. Vanguard Group Inc. now owns 132,281,480 shares of the oil and gas company’s stock valued at $6,883,928,000 after buying an additional 1,753,108 shares during the period. Price T Rowe Associates Inc. MD lifted its holdings in shares of Schlumberger by 12.9% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 75,379,848 shares of the oil and gas company’s stock worth $3,922,768,000 after acquiring an additional 8,617,971 shares during the last quarter. Capital World Investors grew its holdings in Schlumberger by 2.2% during the 4th quarter. Capital World Investors now owns 51,617,471 shares of the oil and gas company’s stock valued at $2,686,173,000 after purchasing an additional 1,133,686 shares during the last quarter. Norges Bank purchased a new stake in Schlumberger in the 4th quarter worth about $1,000,292,000. Finally, Morgan Stanley lifted its stake in Schlumberger by 1.9% in the third quarter. Morgan Stanley now owns 15,790,074 shares of the oil and gas company’s stock worth $920,561,000 after purchasing an additional 292,817 shares during the last quarter. Institutional investors own 81.99% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on SLB shares. HSBC reiterated a “buy” rating and issued a $71.00 target price on shares of Schlumberger in a research note on Thursday, April 4th. Susquehanna reissued a “positive” rating and issued a $77.00 price objective on shares of Schlumberger in a research note on Monday, April 22nd. Wells Fargo & Company downgraded shares of Schlumberger from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $68.00 to $53.00 in a report on Monday, April 29th. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Schlumberger in a research report on Monday, April 1st. Finally, Barclays decreased their price objective on Schlumberger from $74.00 to $70.00 and set an “overweight” rating for the company in a report on Thursday, April 4th. Two research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $68.59.

Insider Buying and Selling

In other Schlumberger news, insider Gavin Rennick sold 38,083 shares of the business’s stock in a transaction dated Wednesday, May 22nd. The shares were sold at an average price of $48.28, for a total transaction of $1,838,647.24. Following the sale, the insider now directly owns 45,851 shares in the company, valued at $2,213,686.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Schlumberger news, CTO Demosthenis Pafitis sold 63,095 shares of the company’s stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $48.26, for a total transaction of $3,044,964.70. Following the sale, the chief technology officer now owns 33,421 shares in the company, valued at approximately $1,612,897.46. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Gavin Rennick sold 38,083 shares of Schlumberger stock in a transaction dated Wednesday, May 22nd. The shares were sold at an average price of $48.28, for a total value of $1,838,647.24. Following the completion of the transaction, the insider now owns 45,851 shares of the company’s stock, valued at approximately $2,213,686.28. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 106,158 shares of company stock valued at $5,099,893. Corporate insiders own 0.26% of the company’s stock.

Schlumberger Price Performance

Shares of NYSE:SLB traded up $0.17 during trading on Friday, reaching $47.18. The stock had a trading volume of 14,139,873 shares, compared to its average volume of 14,274,646. The business has a fifty day moving average price of $46.69 and a 200-day moving average price of $49.60. Schlumberger Limited has a 1-year low of $42.61 and a 1-year high of $62.12. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.02 and a current ratio of 1.37. The stock has a market cap of $67.44 billion, a PE ratio of 15.67, a PEG ratio of 0.90 and a beta of 1.57.

Schlumberger (NYSE:SLB) last announced its earnings results on Friday, April 19th. The oil and gas company reported $0.75 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.75. The company had revenue of $8.71 billion for the quarter, compared to analysts’ expectations of $8.70 billion. Schlumberger had a net margin of 12.72% and a return on equity of 21.88%. The firm’s quarterly revenue was up 12.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.63 EPS. On average, equities analysts forecast that Schlumberger Limited will post 3.51 earnings per share for the current fiscal year.

Schlumberger Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 11th. Stockholders of record on Wednesday, June 5th will be given a dividend of $0.275 per share. This is a positive change from Schlumberger’s previous quarterly dividend of $0.25. This represents a $1.10 annualized dividend and a dividend yield of 2.33%. The ex-dividend date of this dividend is Wednesday, June 5th. Schlumberger’s dividend payout ratio (DPR) is currently 36.54%.

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.