Schlumberger Limited (NYSE:SLB) Shares Sold by Kentucky Retirement Systems

Kentucky Retirement Systems lowered its holdings in Schlumberger Limited (NYSE:SLB) by 5.2% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 108,401 shares of the oil and gas company’s stock after selling 5,891 shares during the period. Kentucky Retirement Systems’ holdings in Schlumberger were worth $5,941,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in SLB. BCM Advisors LLC grew its holdings in Schlumberger by 1.1% during the 1st quarter. BCM Advisors LLC now owns 18,904 shares of the oil and gas company’s stock worth $1,036,000 after acquiring an additional 204 shares in the last quarter. Checchi Capital Advisers LLC grew its holdings in Schlumberger by 1.9% during the 1st quarter. Checchi Capital Advisers LLC now owns 10,808 shares of the oil and gas company’s stock worth $592,000 after acquiring an additional 204 shares in the last quarter. Hilltop Holdings Inc. boosted its holdings in shares of Schlumberger by 2.1% in 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 in the last quarter. Team Hewins LLC boosted its holdings in shares of Schlumberger by 3.0% in the 1st quarter. Team Hewins LLC now owns 7,924 shares of the oil and gas company’s stock valued at $436,000 after buying an additional 229 shares in the last quarter. Finally, Sunbelt Securities Inc. boosted its holdings in shares of Schlumberger by 2.2% in the 1st quarter. Sunbelt Securities Inc. now owns 10,551 shares of the oil and gas company’s stock valued at $578,000 after buying an additional 230 shares in the last quarter. Institutional investors and hedge funds own 81.99% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. Piper Sandler lowered their target price on shares of Schlumberger from $71.00 to $66.00 and set an “overweight” rating for the company in a report on Monday, July 15th. HSBC restated a “buy” rating and issued a $71.00 target price on shares of Schlumberger in a report on Thursday, April 4th. Barclays lowered their target price on shares of Schlumberger from $70.00 to $67.00 and set an “overweight” rating for the company in a report on Tuesday, July 23rd. Wells Fargo & Company cut shares of Schlumberger from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $68.00 to $53.00 in a report on Monday, April 29th. Finally, Susquehanna reduced their price target on shares of Schlumberger from $77.00 to $70.00 and set a “positive” rating for the company in a research report on Thursday, July 11th. Two research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $67.56.

Schlumberger Stock Performance

Schlumberger stock traded up $0.60 during trading hours on Friday, reaching $48.83. 8,231,538 shares of the stock were exchanged, compared to its average volume of 8,735,330. The stock has a market cap of $69.33 billion, a P/E ratio of 16.22, a P/E/G ratio of 1.04 and a beta of 1.55. 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 52-week low of $42.61 and a 52-week high of $62.12. The firm’s 50 day moving average is $46.32 and its 200 day moving average is $48.98.

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, beating analysts’ consensus estimates of $0.83 by $0.02. The business had revenue of $9.14 billion during the quarter, compared to the consensus estimate of $9.08 billion. Schlumberger had a net margin of 12.56% and a return on equity of 21.92%. The business’s revenue was up 12.8% compared to the same quarter last year. During the same quarter last year, the firm posted $0.72 EPS. Analysts predict that Schlumberger Limited will post 3.5 EPS for the current fiscal year.

Schlumberger Dividend Announcement

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

Insider Buying and Selling at Schlumberger

In other Schlumberger news, EVP Mogharbel Khaled Al sold 120,668 shares of the firm’s stock in a transaction dated Monday, July 22nd. The shares were sold at an average price of $50.19, for a total transaction of $6,056,326.92. Following the completion of the transaction, the executive vice president now directly owns 247,699 shares in the company, valued at approximately $12,432,012.81. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, EVP Mogharbel Khaled Al sold 120,668 shares of Schlumberger stock in a transaction dated Monday, July 22nd. The shares were sold at an average price of $50.19, for a total transaction of $6,056,326.92. Following the completion of the sale, the executive vice president now directly owns 247,699 shares in the company, valued at $12,432,012.81. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Stephane Biguet sold 50,048 shares of the business’s stock in a transaction that occurred 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 of the company’s stock, valued at $10,141,615.44. The disclosure for this sale can be found here. In the last three months, insiders sold 286,874 shares of company stock worth $14,148,517. 0.26% of the stock is owned by corporate insiders.

Schlumberger Company 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.