Waldron Private Wealth LLC Trims Position in Schlumberger Limited (NYSE:SLB)

Waldron Private Wealth LLC cut its position in Schlumberger Limited (NYSE:SLB) by 3.3% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 39,505 shares of the oil and gas company’s stock after selling 1,361 shares during the period. Waldron Private Wealth LLC’s holdings in Schlumberger were worth $1,875,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of SLB. Register Financial Advisors LLC bought a new position in shares of Schlumberger during the first quarter worth $27,000. Bruce G. Allen Investments LLC grew its stake in Schlumberger by 204.2% during the second quarter. Bruce G. Allen Investments LLC now owns 584 shares of the oil and gas company’s stock valued at $28,000 after acquiring an additional 392 shares in the last quarter. Unique Wealth Strategies LLC purchased a new position in Schlumberger during the second quarter valued at $30,000. Manchester Capital Management LLC grew its stake in Schlumberger by 297.9% during the first quarter. Manchester Capital Management LLC now owns 569 shares of the oil and gas company’s stock valued at $31,000 after acquiring an additional 426 shares in the last quarter. Finally, Riverview Trust Co grew its stake in shares of Schlumberger by 90.6% in the 2nd quarter. Riverview Trust Co now owns 648 shares of the oil and gas company’s stock worth $31,000 after buying an additional 308 shares in the last quarter. 81.99% of the stock is owned by hedge funds and other institutional investors.

Schlumberger Stock Performance

NYSE:SLB traded down $0.19 during trading hours on Friday, hitting $43.99. 10,174,701 shares of the company were exchanged, compared to its average volume of 7,519,542. The stock has a market capitalization of $62.46 billion, a price-to-earnings ratio of 14.61, a PEG ratio of 0.94 and a beta of 1.55. Schlumberger Limited has a 52-week low of $42.61 and a 52-week high of $62.12. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.49 and a quick ratio of 1.13. The company’s 50 day moving average price is $46.11 and its 200-day moving average price is $48.18.

Schlumberger (NYSE:SLB) last released its earnings results on Friday, July 19th. The oil and gas company reported $0.85 earnings per share 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 the consensus estimate of $9.08 billion. Schlumberger had a net margin of 12.56% and a return on equity of 21.92%. Schlumberger’s revenue was up 12.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.72 EPS. As a group, research analysts forecast that Schlumberger Limited will post 3.49 earnings per share for the current year.

Schlumberger Announces Dividend

The firm also recently disclosed 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. This represents a $1.10 annualized dividend and a dividend yield of 2.50%. The ex-dividend date of this dividend is Wednesday, September 4th. Schlumberger’s dividend payout ratio (DPR) is currently 36.54%.

Analyst Upgrades and Downgrades

SLB has been the subject of a number of recent research reports. Royal Bank of Canada reissued an “outperform” rating and issued a $69.00 price objective on shares of Schlumberger in a research note on Monday, July 22nd. Citigroup dropped their price objective on shares of Schlumberger from $65.00 to $62.00 and set a “buy” rating for the company in a research note on Friday, June 28th. Susquehanna dropped their price objective on shares of Schlumberger from $77.00 to $70.00 and set a “positive” rating for the company in a research note on Thursday, July 11th. StockNews.com cut shares of Schlumberger from a “buy” rating to a “hold” rating in a research note on Thursday, June 6th. Finally, Benchmark reaffirmed a “buy” rating and set a $68.00 price target on shares of Schlumberger in a research note on Monday, July 22nd. Two investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $67.00.

Insider Activity

In related news, EVP Mogharbel Khaled Al sold 120,668 shares of the business’s stock in a transaction on 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 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 document filed with the SEC, which is accessible through the SEC website. In other Schlumberger news, insider Bejar Carmen Rando sold 4,980 shares of the company’s stock in a transaction on Friday, June 7th. The shares were sold at an average price of $43.43, for a total transaction of $216,281.40. Following the completion of the transaction, the insider now directly owns 22,518 shares in the company, valued at $977,956.74. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Mogharbel Khaled Al sold 120,668 shares of the company’s stock in a transaction 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 of the company’s stock, valued at $12,432,012.81. The disclosure for this sale can be found here. Insiders have sold 185,696 shares of company stock valued at $9,264,905 in the last ninety days. Insiders own 0.26% of the company’s stock.

About Schlumberger

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.