Cullen Investment Group LTD. Sells 484 Shares of Schlumberger Limited (NYSE:SLB)

Cullen Investment Group LTD. lowered its holdings in shares of Schlumberger Limited (NYSE:SLB) by 4.6% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,091 shares of the oil and gas company’s stock after selling 484 shares during the period. Cullen Investment Group LTD.’s holdings in Schlumberger were worth $476,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of SLB. BCM Advisors LLC raised its holdings in shares of Schlumberger by 1.1% during the first quarter. BCM Advisors LLC now owns 18,904 shares of the oil and gas company’s stock valued at $1,036,000 after purchasing an additional 204 shares during the last quarter. Checchi Capital Advisers LLC grew its position in Schlumberger by 1.9% during the first quarter. Checchi Capital Advisers LLC now owns 10,808 shares of the oil and gas company’s stock valued at $592,000 after buying an additional 204 shares during the period. Hilltop Holdings Inc. grew its position in Schlumberger by 2.1% during the fourth quarter. Hilltop Holdings Inc. now owns 10,761 shares of the oil and gas company’s stock valued at $560,000 after buying an additional 219 shares during the period. Team Hewins LLC grew its position in Schlumberger by 3.0% during the first quarter. Team Hewins LLC now owns 7,924 shares of the oil and gas company’s stock valued at $436,000 after buying an additional 229 shares during the period. Finally, Sunbelt Securities Inc. grew its position in Schlumberger by 2.2% during the first quarter. Sunbelt Securities Inc. now owns 10,551 shares of the oil and gas company’s stock valued at $578,000 after buying an additional 230 shares during the period. Institutional investors own 81.99% of the company’s stock.

Insider Activity

In other news, Director Vijay Kasibhatla sold 10,000 shares of the firm’s stock in a transaction dated Monday, July 22nd. The shares were sold at an average price of $49.29, for a total value of $492,900.00. Following the sale, the director now directly owns 62,354 shares in the company, valued at approximately $3,073,428.66. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director Vijay Kasibhatla sold 10,000 shares of the stock in a transaction that occurred on Monday, July 22nd. The shares were sold at an average price of $49.29, for a total value of $492,900.00. Following the completion of the transaction, the director now directly owns 62,354 shares of the company’s stock, valued at approximately $3,073,428.66. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Mogharbel Khaled Al sold 120,668 shares of the stock in a transaction that occurred on Monday, July 22nd. The shares were sold at an average price of $50.19, for a total transaction of $6,056,326.92. Following the completion of the transaction, the executive vice president now directly owns 247,699 shares of the company’s stock, valued at $12,432,012.81. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 286,874 shares of company stock worth $14,148,517. Corporate insiders own 0.26% of the company’s stock.

Schlumberger Stock Down 3.7 %

Schlumberger stock traded down $1.73 during midday trading on Friday, hitting $44.93. 11,848,368 shares of the company’s stock were exchanged, compared to its average volume of 9,014,375. Schlumberger Limited has a 12 month low of $42.61 and a 12 month high of $62.12. The company has a market cap of $63.79 billion, a PE ratio of 14.93, a P/E/G ratio of 0.99 and a beta of 1.55. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.13 and a current ratio of 1.49. The firm has a 50-day moving average of $46.31 and a two-hundred day moving average of $48.91.

Schlumberger (NYSE:SLB) last released its quarterly earnings results on Friday, July 19th. The oil and gas company reported $0.85 earnings per share for the quarter, beating analysts’ consensus estimates of $0.83 by $0.02. Schlumberger had a net margin of 12.56% and a return on equity of 21.92%. The business had revenue of $9.14 billion for the quarter, compared to analysts’ expectations of $9.08 billion. During the same period last year, the business earned $0.72 EPS. The company’s revenue was up 12.8% compared to the same quarter last year. As a group, analysts expect that Schlumberger Limited will post 3.49 earnings per share for the current fiscal year.

Schlumberger Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 10th. Stockholders of record on Wednesday, September 4th will be issued a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a dividend yield of 2.45%. The ex-dividend date of this dividend is Wednesday, September 4th. Schlumberger’s dividend payout ratio is currently 36.54%.

Analyst Ratings Changes

Several brokerages recently issued reports on SLB. Citigroup cut their target price on shares of Schlumberger from $65.00 to $62.00 and set a “buy” rating for the company in a research report on Friday, June 28th. Stifel Nicolaus reiterated a “buy” rating and issued a $64.00 price target on shares of Schlumberger in a research report on Monday, April 22nd. TD Cowen upped their price target on shares of Schlumberger from $62.00 to $64.00 and gave the stock a “buy” rating in a research report on Monday, July 22nd. Evercore ISI upped their price target on shares of Schlumberger from $73.00 to $74.00 and gave the stock an “outperform” rating in a research report on Monday, July 22nd. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $69.00 price target on shares of Schlumberger in a research report on Monday, July 22nd. Two research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to MarketBeat, Schlumberger currently has a consensus rating of “Moderate Buy” and an average price target of $67.56.

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.