Schlumberger Limited (NYSE:SLB) Shares Sold by Diversified Trust Co

Diversified Trust Co reduced its position in Schlumberger Limited (NYSE:SLB) by 24.0% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 16,019 shares of the oil and gas company’s stock after selling 5,056 shares during the quarter. Diversified Trust Co’s holdings in Schlumberger were worth $756,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Carolinas Wealth Consulting LLC grew its holdings in Schlumberger by 53.5% in the 4th quarter. Carolinas Wealth Consulting LLC now owns 1,960 shares of the oil and gas company’s stock valued at $102,000 after buying an additional 683 shares in the last quarter. National Bank of Canada FI grew its holdings in Schlumberger by 15.0% in the 1st quarter. National Bank of Canada FI now owns 396,382 shares of the oil and gas company’s stock valued at $21,726,000 after buying an additional 51,637 shares in the last quarter. Mission Wealth Management LP purchased a new stake in Schlumberger in the 1st quarter valued at $245,000. Canada Pension Plan Investment Board grew its holdings in Schlumberger by 9.0% in the 1st quarter. Canada Pension Plan Investment Board now owns 788,484 shares of the oil and gas company’s stock valued at $43,217,000 after buying an additional 64,974 shares in the last quarter. Finally, Stifel Financial Corp grew its holdings in Schlumberger by 3.0% in the 4th quarter. Stifel Financial Corp now owns 1,746,441 shares of the oil and gas company’s stock valued at $90,885,000 after buying an additional 51,175 shares in the last quarter. 81.99% of the stock is owned by institutional investors and hedge funds.

Schlumberger Stock Up 0.3 %

SLB stock traded up $0.11 during mid-day trading on Wednesday, reaching $43.88. The company had a trading volume of 1,046,820 shares, compared to its average volume of 10,804,721. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.13 and a current ratio of 1.49. Schlumberger Limited has a fifty-two week low of $42.61 and a fifty-two week high of $62.12. The company has a market capitalization of $62.30 billion, a price-to-earnings ratio of 14.54, a price-to-earnings-growth ratio of 0.93 and a beta of 1.55. The firm has a fifty day simple moving average of $46.06 and a 200 day simple moving average of $48.55.

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

Schlumberger Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 10th. Stockholders of record on Wednesday, September 4th will be given a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a dividend yield of 2.51%. The ex-dividend date of this dividend is Wednesday, September 4th. Schlumberger’s dividend payout ratio (DPR) is presently 36.54%.

Insider Transactions at Schlumberger

In other news, insider Gavin Rennick sold 38,083 shares of the firm’s stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $48.28, for a total transaction of $1,838,647.24. Following the sale, the insider now owns 45,851 shares of the company’s stock, valued at approximately $2,213,686.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Schlumberger news, insider Bejar Carmen Rando sold 4,980 shares of Schlumberger stock in a transaction that occurred on Friday, June 7th. The stock was sold at an average price of $43.43, for a total value of $216,281.40. Following the transaction, the insider now directly owns 22,518 shares in the company, valued at approximately $977,956.74. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Gavin Rennick sold 38,083 shares of Schlumberger stock in a transaction that occurred on 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 in the company, valued at $2,213,686.28. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 223,779 shares of company stock valued at $11,103,553. Corporate insiders own 0.26% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on SLB shares. Bank of America lowered their price target on Schlumberger from $62.00 to $58.00 and set a “buy” rating for the company in a report on Monday, July 15th. Wells Fargo & Company cut Schlumberger from an “overweight” rating to an “equal weight” rating and lowered their price target for the stock from $68.00 to $53.00 in a report on Monday, April 29th. Piper Sandler lowered their price target on Schlumberger from $71.00 to $66.00 and set an “overweight” rating for the company in a report on Monday, July 15th. Stifel Nicolaus restated a “buy” rating and set a $64.00 target price on shares of Schlumberger in a report on Monday, April 22nd. Finally, Citigroup lowered their target price on Schlumberger from $65.00 to $62.00 and set a “buy” rating for the company in a report on Friday, June 28th. Two analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $67.56.

About Schlumberger

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.