Capital Investment Advisors LLC Sells 271 Shares of Schlumberger Limited (NYSE:SLB)

Capital Investment Advisors LLC lowered its stake in shares of Schlumberger Limited (NYSE:SLB) by 3.0% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 8,658 shares of the oil and gas company’s stock after selling 271 shares during the period. Capital Investment Advisors LLC’s holdings in Schlumberger were worth $408,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in SLB. Turtle Creek Wealth Advisors LLC acquired a new position in shares of Schlumberger during the 4th quarter worth approximately $26,000. Register Financial Advisors LLC acquired a new position in shares of Schlumberger during the 1st quarter worth approximately $27,000. Manchester Capital Management LLC increased its holdings in shares of Schlumberger by 297.9% during the 1st quarter. Manchester Capital Management LLC now owns 569 shares of the oil and gas company’s stock worth $31,000 after acquiring an additional 426 shares during the last quarter. Transcendent Capital Group LLC acquired a new position in Schlumberger in the 4th quarter valued at $32,000. Finally, Janiczek Wealth Management LLC grew its holdings in 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 buying an additional 602 shares in the last quarter. Institutional investors own 81.99% of the company’s stock.

Schlumberger Trading Down 0.3 %

Schlumberger stock traded down $0.14 during trading hours on Friday, hitting $43.55. The stock had a trading volume of 5,418,010 shares, compared to its average volume of 10,932,259. The company has a quick ratio of 1.13, a current ratio of 1.49 and a debt-to-equity ratio of 0.55. The stock has a market cap of $61.83 billion, a price-to-earnings ratio of 14.47, a P/E/G ratio of 0.92 and a beta of 1.55. Schlumberger Limited has a one year low of $42.61 and a one year high of $62.12. The business’s 50 day simple moving average is $46.06 and its 200-day simple moving average is $48.71.

Schlumberger (NYSE:SLB) last posted its earnings results on Friday, July 19th. The oil and gas company reported $0.85 EPS for the quarter, beating the consensus estimate of $0.83 by $0.02. The firm had revenue of $9.14 billion during the quarter, compared to the consensus estimate of $9.08 billion. Schlumberger had a return on equity of 21.92% and a net margin of 12.56%. The business’s quarterly revenue was up 12.8% on a year-over-year basis. During the same period last year, the company earned $0.72 earnings per share. On average, equities analysts predict that Schlumberger Limited will post 3.49 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 paid a $0.275 dividend. The ex-dividend date is Wednesday, September 4th. This represents a $1.10 annualized dividend and a dividend yield of 2.53%. Schlumberger’s payout ratio is 36.54%.

Insider Activity

In other news, insider Bejar Carmen Rando sold 4,980 shares of the stock in a transaction dated Friday, June 7th. The stock was sold at an average price of $43.43, for a total value of $216,281.40. Following the completion of the sale, the insider now owns 22,518 shares of the company’s stock, valued at $977,956.74. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, Director Vijay Kasibhatla sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, July 22nd. The stock was sold at an average price of $49.29, for a total transaction of $492,900.00. Following the completion of the sale, the director now owns 62,354 shares of the company’s stock, valued at $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, insider Bejar Carmen Rando sold 4,980 shares of the firm’s stock in a transaction that occurred on Friday, June 7th. The stock was sold at an average price of $43.43, for a total value of $216,281.40. Following the sale, the insider now directly owns 22,518 shares of the company’s stock, valued at approximately $977,956.74. The disclosure for this sale can be found here. Over the last quarter, insiders sold 286,874 shares of company stock valued at $14,148,517. Company insiders own 0.26% of the company’s stock.

Wall Street Analyst Weigh In

SLB has been the topic of a number of research reports. Piper Sandler decreased their price objective on Schlumberger from $71.00 to $66.00 and set an “overweight” rating on the stock in a report on Monday, July 15th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $69.00 price objective on shares of Schlumberger in a report on Monday, July 22nd. Barclays decreased their price objective on Schlumberger from $70.00 to $67.00 and set an “overweight” rating on the stock in a report on Tuesday, July 23rd. Citigroup decreased their price objective on Schlumberger from $65.00 to $62.00 and set a “buy” rating on the stock in a report on Friday, June 28th. Finally, Evercore ISI upped their target price on Schlumberger from $73.00 to $74.00 and gave the company an “outperform” rating in a research report on Monday, July 22nd. Two research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price 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.