Los Angeles Capital Management LLC Cuts Stock Holdings in Schlumberger Limited (NYSE:SLB)

Los Angeles Capital Management LLC reduced its stake in Schlumberger Limited (NYSE:SLBGet Rating) by 21.0% during the first quarter, according to its most recent filing with the SEC. The fund owned 516,944 shares of the oil and gas company’s stock after selling 137,680 shares during the quarter. Los Angeles Capital Management LLC’s holdings in Schlumberger were worth $21,355,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Sugarloaf Wealth Management LLC boosted its holdings in shares of Schlumberger by 1,059.6% in the 1st quarter. Sugarloaf Wealth Management LLC now owns 603 shares of the oil and gas company’s stock worth $25,000 after buying an additional 551 shares during the last quarter. JFS Wealth Advisors LLC boosted its holdings in shares of Schlumberger by 95.6% in the 1st quarter. JFS Wealth Advisors LLC now owns 618 shares of the oil and gas company’s stock worth $26,000 after buying an additional 302 shares during the last quarter. Duncker Streett & Co. Inc. boosted its holdings in shares of Schlumberger by 51.1% in the 4th quarter. Duncker Streett & Co. Inc. now owns 893 shares of the oil and gas company’s stock worth $27,000 after buying an additional 302 shares during the last quarter. Crewe Advisors LLC boosted its holdings in shares of Schlumberger by 768.4% in the 1st quarter. Crewe Advisors LLC now owns 660 shares of the oil and gas company’s stock worth $27,000 after buying an additional 584 shares during the last quarter. Finally, Riverview Trust Co purchased a new position in shares of Schlumberger in the 1st quarter worth about $29,000. 76.34% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

SLB has been the topic of a number of research reports. Barclays boosted their price objective on Schlumberger from $55.00 to $59.00 and gave the company an “overweight” rating in a research note on Wednesday, June 8th. The Goldman Sachs Group lowered their price objective on Schlumberger from $54.00 to $45.00 and set a “buy” rating on the stock in a research note on Wednesday, July 13th. Piper Sandler upgraded Schlumberger from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $43.00 to $55.00 in a research note on Monday, April 11th. Stifel Nicolaus boosted their price objective on Schlumberger from $44.00 to $50.00 in a research note on Friday, April 8th. Finally, Wells Fargo & Company lowered their price objective on Schlumberger from $56.00 to $55.00 and set an “overweight” rating on the stock in a research note on Monday, April 25th. One equities research analyst has rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Schlumberger currently has a consensus rating of “Moderate Buy” and an average price target of $47.01.

Insiders Place Their Bets

In other Schlumberger news, insider Katharina Beumelburg sold 4,200 shares of the company’s stock in a transaction that occurred on Thursday, May 19th. The stock was sold at an average price of $40.28, for a total value of $169,176.00. Following the completion of the sale, the insider now owns 519 shares of the company’s stock, valued at $20,905.32. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Schlumberger news, insider Katharina Beumelburg sold 4,200 shares of the company’s stock in a transaction that occurred on Thursday, May 19th. The stock was sold at an average price of $40.28, for a total value of $169,176.00. Following the completion of the sale, the insider now owns 519 shares of the company’s stock, valued at $20,905.32. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Gavin Rennick sold 10,759 shares of the company’s stock in a transaction that occurred on Thursday, May 26th. The stock was sold at an average price of $46.70, for a total value of $502,445.30. Following the completion of the sale, the insider now directly owns 38,044 shares of the company’s stock, valued at approximately $1,776,654.80. The disclosure for this sale can be found here. Insiders sold a total of 12,047,459 shares of company stock valued at $205,224,121 over the last quarter. 0.28% of the stock is owned by corporate insiders.

Schlumberger Stock Up 2.1 %

Shares of NYSE SLB opened at $34.66 on Friday. Schlumberger Limited has a 12 month low of $25.90 and a 12 month high of $49.83. The company has a current ratio of 1.35, a quick ratio of 0.98 and a debt-to-equity ratio of 0.78. The firm has a market capitalization of $49.02 billion, a price-to-earnings ratio of 18.84, a PEG ratio of 0.46 and a beta of 1.86. The business has a 50-day moving average of $38.08 and a 200-day moving average of $39.82.

Schlumberger (NYSE:SLBGet Rating) last issued its quarterly earnings data on Friday, July 22nd. The oil and gas company reported $0.50 EPS for the quarter, topping the consensus estimate of $0.40 by $0.10. Schlumberger had a return on equity of 15.06% and a net margin of 10.56%. The company had revenue of $6.77 billion during the quarter, compared to analyst estimates of $6.28 billion. During the same quarter in the previous year, the firm earned $0.30 earnings per share. Schlumberger’s revenue was up 20.2% on a year-over-year basis. Sell-side analysts expect that Schlumberger Limited will post 2 earnings per share for the current fiscal year.

Schlumberger Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 13th. Shareholders of record on Wednesday, September 7th will be paid a $0.175 dividend. This represents a $0.70 annualized dividend and a yield of 2.02%. The ex-dividend date is Tuesday, September 6th. Schlumberger’s dividend payout ratio is currently 38.04%.

About Schlumberger

(Get Rating)

Schlumberger Limited provides technology for the energy industry worldwide. The company operates through four divisions: Digital & Integration, Reservoir Performance, Well Construction, and Production Systems. It offers software, information management, and IT infrastructure services; consulting services for reservoir characterization, field development planning, and production enhancement; petro technical data services and training solutions; reservoir interpretation and data processing services; asset performance solutions; open and cased-hole services; exploration and production pressure and flow-rate measurement services; pressure pumping, well stimulation, and coiled tubing equipment for downhole mechanical well intervention, reservoir monitoring, and downhole data acquisition; and integrated production systems.

Featured Articles

Want to see what other hedge funds are holding SLB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Schlumberger Limited (NYSE:SLBGet Rating).

Institutional Ownership by Quarter for Schlumberger (NYSE:SLB)

Receive News & Ratings for Schlumberger Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Schlumberger and related companies with MarketBeat.com's FREE daily email newsletter.