AlphaStar Capital Management LLC Sells 827 Shares of Schlumberger Limited (NYSE:SLB)

AlphaStar Capital Management LLC trimmed its position in Schlumberger Limited (NYSE:SLB) by 15.5% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 4,495 shares of the oil and gas company’s stock after selling 827 shares during the period. AlphaStar Capital Management LLC’s holdings in Schlumberger were worth $212,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Capital World Investors boosted its holdings in shares of Schlumberger by 72.3% in the first quarter. Capital World Investors now owns 88,950,956 shares of the oil and gas company’s stock worth $4,875,402,000 after buying an additional 37,333,485 shares during the last quarter. Norges Bank purchased a new position in shares of Schlumberger during the 4th quarter worth $1,000,292,000. Price T Rowe Associates Inc. MD boosted its stake in shares of Schlumberger by 14.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 85,986,039 shares of the oil and gas company’s stock worth $4,712,897,000 after acquiring an additional 10,606,191 shares during the last quarter. Winslow Capital Management LLC grew its position in shares of Schlumberger by 123,063.5% during the 4th quarter. Winslow Capital Management LLC now owns 4,347,671 shares of the oil and gas company’s stock valued at $226,253,000 after acquiring an additional 4,344,141 shares during the period. Finally, Boston Partners increased its stake in shares of Schlumberger by 35.8% in the 1st quarter. Boston Partners now owns 11,640,827 shares of the oil and gas company’s stock worth $635,883,000 after purchasing an additional 3,069,395 shares in the last quarter. 81.99% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, CFO Stephane Biguet sold 50,048 shares of the business’s stock in a transaction that occurred on Monday, July 22nd. The stock was sold at an average price of $49.94, for a total transaction of $2,499,397.12. Following the transaction, the chief financial officer now owns 203,076 shares of the company’s stock, valued at approximately $10,141,615.44. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, CFO Stephane Biguet sold 50,048 shares of Schlumberger stock in a transaction dated 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 transaction, the chief financial officer now directly owns 203,076 shares of the company’s stock, valued at approximately $10,141,615.44. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, 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 transaction of $216,281.40. Following the completion of the sale, the insider now directly owns 22,518 shares in the company, valued at $977,956.74. The disclosure for this sale can be found here. Over the last quarter, insiders sold 185,696 shares of company stock worth $9,264,905. Corporate insiders own 0.26% of the company’s stock.

Schlumberger Stock Down 1.2 %

NYSE SLB opened at $45.04 on Wednesday. The stock has a 50 day moving average price of $46.17 and a 200-day moving average price of $48.28. Schlumberger Limited has a one year low of $42.61 and a one year high of $62.12. 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 company has a market capitalization of $64.38 billion, a P/E ratio of 14.96, a P/E/G ratio of 0.96 and a beta of 1.55.

Schlumberger (NYSE:SLB) last released 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. Schlumberger had a net margin of 12.56% and a return on equity of 21.92%. The company had revenue of $9.14 billion for the quarter, compared to the consensus estimate of $9.08 billion. During the same quarter in the prior year, the firm earned $0.72 earnings per share. Schlumberger’s revenue was up 12.8% on a year-over-year basis. As a group, equities analysts predict that Schlumberger Limited will post 3.49 EPS for the current fiscal year.

Schlumberger Announces Dividend

The business 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 $0.275 dividend. The ex-dividend date of this dividend is Wednesday, September 4th. This represents a $1.10 annualized dividend and a yield of 2.44%. Schlumberger’s dividend payout ratio is currently 36.54%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on SLB. Citigroup lowered their target price on Schlumberger from $65.00 to $62.00 and set a “buy” rating on the stock in a research report on Friday, June 28th. TD Cowen boosted their price objective on Schlumberger from $62.00 to $64.00 and gave the company a “buy” rating in a research note on Monday, July 22nd. StockNews.com cut shares of Schlumberger from a “buy” rating to a “hold” rating in a research note on Thursday, June 6th. Benchmark reiterated a “buy” rating and issued a $68.00 price target on shares of Schlumberger in a research report on Monday, July 22nd. Finally, Piper Sandler reduced their price objective on shares of Schlumberger from $71.00 to $66.00 and set an “overweight” rating for the company in a research note on Monday, July 15th. Two research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price 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.