Capital Research Global Investors Sells 2,026,155 Shares of Schlumberger Limited (NYSE:SLB)

Capital Research Global Investors reduced its position in Schlumberger Limited (NYSE:SLB) by 48.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,138,475 shares of the oil and gas company’s stock after selling 2,026,155 shares during the quarter. Capital Research Global Investors owned about 0.15% of Schlumberger worth $117,210,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of SLB. Turtle Creek Wealth Advisors LLC acquired a new stake in shares of Schlumberger in the 4th quarter valued at approximately $26,000. Register Financial Advisors LLC acquired a new stake in shares of Schlumberger in the 1st quarter valued at approximately $27,000. Manchester Capital Management LLC boosted its stake in shares of Schlumberger by 297.9% in the 1st quarter. Manchester Capital Management LLC now owns 569 shares of the oil and gas company’s stock valued at $31,000 after purchasing an additional 426 shares in the last quarter. Transcendent Capital Group LLC acquired a new stake in shares of Schlumberger in the 4th quarter valued at approximately $32,000. Finally, Janiczek Wealth Management LLC boosted its stake in shares of Schlumberger by 1,180.4% in the 4th quarter. Janiczek Wealth Management LLC now owns 653 shares of the oil and gas company’s stock valued at $34,000 after purchasing an additional 602 shares in the last quarter. 81.99% of the stock is owned by institutional investors.

Insider Activity at Schlumberger

In related news, insider Bejar Carmen Rando sold 4,980 shares of the company’s stock in a transaction that occurred on Friday, June 7th. The shares were sold at an average price of $43.43, for a total transaction of $216,281.40. Following the sale, the insider now directly owns 22,518 shares in the company, valued at approximately $977,956.74. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, insider Bejar Carmen Rando sold 4,980 shares of the company’s stock in a transaction that occurred on Friday, June 7th. The shares were sold at an average price of $43.43, for a total transaction of $216,281.40. Following the sale, the insider now directly owns 22,518 shares in the company, valued at approximately $977,956.74. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Vijay Kasibhatla sold 10,000 shares of the company’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 transaction of $492,900.00. Following the sale, the director now owns 62,354 shares in the company, valued at $3,073,428.66. 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. 0.26% of the stock is owned by corporate insiders.

Schlumberger Stock Performance

SLB traded up $0.60 during midday trading on Friday, reaching $48.83. The company had a trading volume of 8,231,538 shares, compared to its average volume of 8,735,330. 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 stock has a market cap of $69.33 billion, a PE ratio of 16.22, a P/E/G ratio of 1.03 and a beta of 1.55. Schlumberger Limited has a 12-month low of $42.61 and a 12-month high of $62.12. The business has a 50-day moving average price of $46.32 and a two-hundred day moving average price of $48.98.

Schlumberger (NYSE:SLB) last released its 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. The firm had revenue of $9.14 billion for the quarter, compared to analysts’ expectations of $9.08 billion. Schlumberger had a net margin of 12.56% and a return on equity of 21.92%. The company’s quarterly revenue was up 12.8% on a year-over-year basis. During the same period in the previous year, the company earned $0.72 earnings per share. On average, sell-side analysts expect that Schlumberger Limited will post 3.5 earnings per share for the current fiscal year.

Schlumberger Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 10th. Investors of record on Wednesday, September 4th will be paid a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a dividend yield of 2.25%. The ex-dividend date of this dividend is Wednesday, September 4th. Schlumberger’s payout ratio is currently 36.54%.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on SLB. StockNews.com downgraded shares of Schlumberger from a “buy” rating to a “hold” rating in a research note on Thursday, June 6th. Piper Sandler cut their target price on shares of Schlumberger from $71.00 to $66.00 and set an “overweight” rating on the stock in a research report on Monday, July 15th. Susquehanna cut their target price on shares of Schlumberger from $77.00 to $70.00 and set a “positive” rating on the stock in a research report on Thursday, July 11th. Royal Bank of Canada reiterated an “outperform” rating and set a $69.00 target price on shares of Schlumberger in a research report on Monday, July 22nd. Finally, HSBC reiterated a “buy” rating and set a $71.00 target price on shares of Schlumberger in a research report on Thursday, April 4th. Two equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus 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.