Schlumberger Limited (NYSE:SLB) Shares Acquired by Isthmus Partners LLC

Isthmus Partners LLC increased its stake in shares of Schlumberger Limited (NYSE:SLB) by 0.4% in the 2nd quarter, Holdings Channel.com reports. The firm owned 255,907 shares of the oil and gas company’s stock after purchasing an additional 1,089 shares during the period. Schlumberger makes up 4.6% of Isthmus Partners LLC’s portfolio, making the stock its 8th largest holding. Isthmus Partners LLC’s holdings in Schlumberger were worth $12,074,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of SLB. BCM Advisors LLC increased its position in shares of Schlumberger by 1.1% in 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 buying an additional 204 shares in the last quarter. Checchi Capital Advisers LLC lifted its stake in shares of Schlumberger by 1.9% in the 1st quarter. Checchi Capital Advisers LLC now owns 10,808 shares of the oil and gas company’s stock valued at $592,000 after purchasing an additional 204 shares in the last quarter. Financial Advocates Investment Management lifted its stake in shares of Schlumberger by 3.4% in the 2nd quarter. Financial Advocates Investment Management now owns 6,558 shares of the oil and gas company’s stock valued at $309,000 after purchasing an additional 218 shares in the last quarter. Hilltop Holdings Inc. raised its holdings in shares of Schlumberger by 2.1% during the 4th 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. Finally, Chilton Capital Management LLC raised its holdings in shares of Schlumberger by 0.8% during the 2nd quarter. Chilton Capital Management LLC now owns 26,202 shares of the oil and gas company’s stock valued at $1,236,000 after buying an additional 219 shares during the period. 81.99% of the stock is owned by institutional investors and hedge funds.

Schlumberger Price Performance

SLB traded down $0.60 during trading on Friday, hitting $40.62. 9,864,106 shares of the stock traded hands, compared to its average volume of 10,591,951. Schlumberger Limited has a twelve month low of $40.37 and a twelve month high of $62.12. The company has a market cap of $58.06 billion, a price-to-earnings ratio of 13.50, a PEG ratio of 0.94 and a beta of 1.55. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.49 and a quick ratio of 1.13. The business has a 50 day moving average price of $45.59 and a 200 day moving average price of $47.96.

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

Schlumberger Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 10th. Stockholders of record on Wednesday, September 4th will be given a $0.275 dividend. This represents a $1.10 annualized dividend and a dividend yield of 2.71%. The ex-dividend date of this dividend is Wednesday, September 4th. Schlumberger’s dividend payout ratio (DPR) is presently 36.54%.

Insider Activity

In related news, CFO Stephane Biguet sold 50,048 shares of the firm’s stock in a transaction that occurred on Monday, July 22nd. The stock was sold at an average price of $49.94, for a total transaction of $2,499,397.12. Following the completion of the sale, the chief financial officer now owns 203,076 shares of the company’s stock, valued at $10,141,615.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CFO Stephane Biguet sold 50,048 shares of the firm’s stock in a transaction that occurred on Monday, July 22nd. The stock was sold at an average price of $49.94, for a total transaction of $2,499,397.12. Following the completion of the sale, the chief financial officer now owns 203,076 shares of the company’s stock, valued at $10,141,615.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Vijay Kasibhatla sold 10,000 shares of the firm’s 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 sale, the director now directly owns 62,354 shares of the company’s stock, valued at approximately $3,073,428.66. The disclosure for this sale can be found here. Insiders have sold 180,716 shares of company stock valued at $9,048,624 in the last ninety days. 0.26% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

SLB has been the topic of several analyst reports. Evercore ISI lifted their price objective on Schlumberger from $73.00 to $74.00 and gave the stock an “outperform” rating in a report on Monday, July 22nd. Piper Sandler reduced their price target on Schlumberger from $71.00 to $66.00 and set an “overweight” rating for the company in a research report on Monday, July 15th. Citigroup cut their price objective on Schlumberger from $65.00 to $62.00 and set a “buy” rating for the company in a report on Friday, June 28th. Barclays cut their price objective on Schlumberger from $70.00 to $67.00 and set an “overweight” rating for the company in a report on Tuesday, July 23rd. Finally, Bank of America cut their target price on Schlumberger from $62.00 to $58.00 and set a “buy” rating on the stock in a research report on Monday, July 15th. Two 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 a consensus price target of $67.00.

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.