Davidson Trust Co. Lowers Stock Position in Schlumberger Limited $SLB

Davidson Trust Co. lessened its holdings in Schlumberger Limited (NYSE:SLB) by 5.8% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 7,038 shares of the oil and gas company’s stock after selling 433 shares during the period. Davidson Trust Co.’s holdings in Schlumberger were worth $238,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the company. EntryPoint Capital LLC raised its stake in shares of Schlumberger by 4.5% during the 1st quarter. EntryPoint Capital LLC now owns 7,348 shares of the oil and gas company’s stock worth $307,000 after acquiring an additional 316 shares in the last quarter. Heritage Wealth Management Inc. Texas raised its stake in shares of Schlumberger by 2.2% during the 1st quarter. Heritage Wealth Management Inc. Texas now owns 14,736 shares of the oil and gas company’s stock worth $616,000 after acquiring an additional 318 shares in the last quarter. Horizon Investments LLC raised its stake in shares of Schlumberger by 1.5% during the 1st quarter. Horizon Investments LLC now owns 22,633 shares of the oil and gas company’s stock worth $946,000 after acquiring an additional 330 shares in the last quarter. CreativeOne Wealth LLC raised its stake in shares of Schlumberger by 6.3% during the 1st quarter. CreativeOne Wealth LLC now owns 5,655 shares of the oil and gas company’s stock worth $236,000 after acquiring an additional 335 shares in the last quarter. Finally, Forza Wealth Management LLC raised its stake in shares of Schlumberger by 5.8% during the 1st quarter. Forza Wealth Management LLC now owns 6,374 shares of the oil and gas company’s stock worth $266,000 after acquiring an additional 350 shares in the last quarter. Institutional investors own 81.99% of the company’s stock.

Schlumberger Stock Up 0.9%

NYSE:SLB opened at $32.55 on Wednesday. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.31 and a quick ratio of 0.98. The company’s fifty day moving average price is $34.50 and its 200-day moving average price is $34.73. Schlumberger Limited has a 1-year low of $31.11 and a 1-year high of $44.97. The firm has a market capitalization of $48.62 billion, a P/E ratio of 11.15, a PEG ratio of 8.97 and a beta of 0.97.

Schlumberger (NYSE:SLB) last issued its earnings results on Friday, July 18th. The oil and gas company reported $0.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.73 by $0.01. Schlumberger had a net margin of 11.53% and a return on equity of 20.99%. The firm had revenue of $8.55 billion during the quarter, compared to analysts’ expectations of $8.51 billion. During the same quarter last year, the company posted $0.85 earnings per share. The firm’s revenue was down 6.5% compared to the same quarter last year. As a group, equities research analysts anticipate that Schlumberger Limited will post 3.38 EPS for the current year.

Schlumberger Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 9th. Investors of record on Wednesday, September 3rd were issued a dividend of $0.285 per share. This represents a $1.14 annualized dividend and a dividend yield of 3.5%. The ex-dividend date of this dividend was Wednesday, September 3rd. Schlumberger’s dividend payout ratio (DPR) is 39.04%.

Insider Activity

In related news, insider Dianne B. Ralston sold 39,727 shares of the firm’s stock in a transaction on Friday, September 12th. The shares were sold at an average price of $36.08, for a total transaction of $1,433,350.16. Following the completion of the transaction, the insider owned 202,201 shares of the company’s stock, valued at $7,295,412.08. This trade represents a 16.42% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.22% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research analysts recently commented on the stock. Stifel Nicolaus reduced their price objective on shares of Schlumberger from $54.00 to $52.00 and set a “buy” rating for the company in a research note on Wednesday, July 16th. Barclays cut their price target on shares of Schlumberger from $47.00 to $46.00 and set an “overweight” rating on the stock in a research note on Monday, July 21st. Weiss Ratings restated a “hold (c-)” rating on shares of Schlumberger in a research note on Wednesday, October 8th. Wells Fargo & Company lowered shares of Schlumberger from a “strong-buy” rating to a “hold” rating in a research note on Sunday, July 20th. Finally, Susquehanna cut their price target on shares of Schlumberger from $44.00 to $42.00 and set a “positive” rating on the stock in a research note on Monday, July 21st. Two analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat, Schlumberger currently has a consensus rating of “Moderate Buy” and an average price target of $52.06.

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.