Schlumberger Limited (NYSE:SLB) Shares Sold by HBK Sorce Advisory LLC

HBK Sorce Advisory LLC decreased its holdings in shares of Schlumberger Limited (NYSE:SLB) by 3.8% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 17,199 shares of the oil and gas company’s stock after selling 671 shares during the quarter. HBK Sorce Advisory LLC’s holdings in Schlumberger were worth $811,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in SLB. Gryphon Financial Partners LLC boosted its holdings in shares of Schlumberger by 46.3% during the fourth quarter. Gryphon Financial Partners LLC now owns 6,538 shares of the oil and gas company’s stock worth $340,000 after purchasing an additional 2,068 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in Schlumberger by 4.0% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,450,469 shares of the oil and gas company’s stock valued at $75,482,000 after acquiring an additional 55,388 shares during the last quarter. Sound View Wealth Advisors Group LLC boosted its holdings in Schlumberger by 3.7% in the fourth quarter. Sound View Wealth Advisors Group LLC now owns 8,449 shares of the oil and gas company’s stock valued at $440,000 after acquiring an additional 300 shares during the last quarter. Panagora Asset Management Inc. boosted its holdings in Schlumberger by 18.0% in the fourth quarter. Panagora Asset Management Inc. now owns 171,505 shares of the oil and gas company’s stock valued at $8,925,000 after acquiring an additional 26,151 shares during the last quarter. Finally, American National Bank boosted its holdings in Schlumberger by 745.5% in the fourth quarter. American National Bank now owns 744 shares of the oil and gas company’s stock valued at $39,000 after acquiring an additional 656 shares during the last quarter. Institutional investors and hedge funds own 81.99% of the company’s stock.

Schlumberger Price Performance

Shares of SLB stock opened at $39.96 on Friday. The firm has a fifty day moving average of $44.90 and a two-hundred day moving average of $47.64. The firm has a market cap of $56.74 billion, a P/E ratio of 13.28, a P/E/G ratio of 0.84 and a beta of 1.51. Schlumberger Limited has a 1-year low of $38.66 and a 1-year high of $61.78. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.49 and a quick ratio of 1.13.

Schlumberger (NYSE:SLB) last posted its quarterly earnings results on Friday, July 19th. The oil and gas company reported $0.85 EPS for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $9.08 billion. During the same period last year, the firm earned $0.72 earnings per share. The company’s revenue for the quarter was up 12.8% compared to the same quarter last year. As a group, research analysts anticipate 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. Investors 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 2.75%. The ex-dividend date of this dividend is Wednesday, September 4th. Schlumberger’s dividend payout ratio is currently 36.54%.

Insider Buying and Selling

In other Schlumberger news, CFO Stephane Biguet sold 50,048 shares of the business’s stock in a transaction on Monday, July 22nd. The shares were 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 in the company, valued at $10,141,615.44. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, Director Vijay Kasibhatla sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, July 22nd. The stock was sold at an average price of $49.29, for a total transaction of $492,900.00. Following the completion of the transaction, the director now owns 62,354 shares in the company, valued at approximately $3,073,428.66. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Stephane Biguet sold 50,048 shares of the stock in a transaction on Monday, July 22nd. The stock was sold at an average price of $49.94, for a total value of $2,499,397.12. Following the completion of the sale, the chief financial officer now directly owns 203,076 shares in the company, valued at $10,141,615.44. The disclosure for this sale can be found here. Insiders have sold 180,716 shares of company stock worth $9,048,624 over the last ninety days. 0.26% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the company. Barclays reduced their target price on Schlumberger from $70.00 to $67.00 and set an “overweight” rating on the stock in a report on Tuesday, July 23rd. UBS Group reduced their target price on Schlumberger from $67.00 to $63.00 and set a “buy” rating on the stock in a report on Tuesday, August 20th. StockNews.com cut Schlumberger from a “buy” rating to a “hold” rating in a report on Thursday, June 6th. Bank of America reduced their price objective on Schlumberger from $62.00 to $58.00 and set a “buy” rating on the stock in a research note on Monday, July 15th. Finally, Piper Sandler reduced their price objective on Schlumberger from $71.00 to $66.00 and set an “overweight” rating on the stock in a research note on Monday, July 15th. Two analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $67.00.

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.