Schlumberger Limited (NYSE:SLB) Shares Sold by Meyer Handelman Co.

Meyer Handelman Co. decreased its stake in shares of Schlumberger Limited (NYSE:SLB) by 19.3% during the second quarter, HoldingsChannel reports. The firm owned 77,432 shares of the oil and gas company’s stock after selling 18,550 shares during the quarter. Meyer Handelman Co.’s holdings in Schlumberger were worth $3,653,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Turtle Creek Wealth Advisors LLC acquired a new position in Schlumberger during the 4th quarter valued at approximately $26,000. Register Financial Advisors LLC acquired a new stake in shares of Schlumberger in the first quarter worth $27,000. Bruce G. Allen Investments LLC increased its stake in shares of Schlumberger by 204.2% in the second quarter. Bruce G. Allen Investments LLC now owns 584 shares of the oil and gas company’s stock worth $28,000 after acquiring an additional 392 shares during the period. Manchester Capital Management LLC increased its stake in shares of Schlumberger by 297.9% in the first 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 period. Finally, Transcendent Capital Group LLC acquired a new stake in shares of Schlumberger in the fourth quarter worth $32,000. Institutional investors and hedge funds own 81.99% of the company’s stock.

Schlumberger Price Performance

Shares of NYSE:SLB traded down $0.13 during trading on Tuesday, reaching $43.77. The stock had a trading volume of 5,235,881 shares, compared to its average volume of 10,867,578. 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 1-year low of $42.61 and a 1-year high of $62.12. The stock has a market cap of $62.15 billion, a PE ratio of 14.54, a PEG ratio of 0.93 and a beta of 1.55. The business has a fifty day moving average price of $46.06 and a 200-day moving average price of $48.55.

Schlumberger (NYSE:SLB) last announced its earnings results on Friday, July 19th. The oil and gas company reported $0.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.83 by $0.02. The company 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 firm’s quarterly revenue was up 12.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.72 EPS. On average, equities analysts forecast that Schlumberger Limited will post 3.49 earnings per share for the current fiscal year.

Schlumberger Dividend Announcement

The firm also recently disclosed 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. The ex-dividend date is Wednesday, September 4th. This represents a $1.10 annualized dividend and a yield of 2.51%. Schlumberger’s dividend payout ratio is presently 36.54%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on SLB shares. StockNews.com lowered shares of Schlumberger from a “buy” rating to a “hold” rating in a research note on Thursday, June 6th. Piper Sandler cut their price objective on shares of Schlumberger from $71.00 to $66.00 and set an “overweight” rating on the stock in a research note on Monday, July 15th. Barclays cut their price objective on shares of Schlumberger from $70.00 to $67.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 23rd. Morgan Stanley reiterated an “overweight” rating and issued a $65.00 price objective on shares of Schlumberger in a research note on Monday, April 22nd. Finally, Wells Fargo & Company downgraded shares of Schlumberger from an “overweight” rating to an “equal weight” rating and lowered their price target for the stock from $68.00 to $53.00 in a report on Monday, April 29th. Two investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $67.56.

Insider Buying and Selling at Schlumberger

In related news, EVP Mogharbel Khaled Al sold 120,668 shares of Schlumberger stock in a transaction that occurred on Monday, July 22nd. The stock was sold at an average price of $50.19, for a total transaction of $6,056,326.92. Following the transaction, the executive vice president now owns 247,699 shares in the company, valued at $12,432,012.81. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In related news, EVP Mogharbel Khaled Al sold 120,668 shares of the company’s stock in a transaction dated Monday, July 22nd. The shares were sold at an average price of $50.19, for a total value of $6,056,326.92. Following the completion of the sale, the executive vice president now owns 247,699 shares of the company’s stock, valued at $12,432,012.81. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Stephane Biguet sold 50,048 shares of the firm’s stock in a transaction dated 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 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 quarter, insiders sold 223,779 shares of company stock worth $11,103,553. Insiders own 0.26% of the company’s stock.

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.