Schlumberger Limited (NYSE:SLB) Stake Reduced by Axxcess Wealth Management LLC

Axxcess Wealth Management LLC cut its holdings in Schlumberger Limited (NYSE:SLB) by 13.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 30,880 shares of the oil and gas company’s stock after selling 4,890 shares during the quarter. Axxcess Wealth Management LLC’s holdings in Schlumberger were worth $1,457,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Register Financial Advisors LLC bought a new stake in Schlumberger in the first quarter worth about $27,000. Manchester Capital Management LLC raised its holdings in 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 buying an additional 426 shares during the period. Bruce G. Allen Investments LLC raised its holdings in Schlumberger by 204.2% during the 2nd quarter. Bruce G. Allen Investments LLC now owns 584 shares of the oil and gas company’s stock worth $28,000 after buying an additional 392 shares during the period. Transcendent Capital Group LLC acquired a new stake in Schlumberger during the 4th quarter worth about $32,000. Finally, Unique Wealth Strategies LLC acquired a new stake in Schlumberger during the 2nd quarter worth about $30,000. 81.99% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Schlumberger news, CFO Stephane Biguet sold 50,048 shares of the company’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 completion of the sale, the chief financial officer now owns 203,076 shares of the company’s stock, valued at $10,141,615.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Schlumberger news, Director Vijay Kasibhatla sold 10,000 shares of the company’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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Stephane Biguet sold 50,048 shares of the company’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 value of $2,499,397.12. Following the transaction, 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. Insiders sold 180,716 shares of company stock valued at $9,048,624 over the last 90 days. 0.26% of the stock is currently owned by company insiders.

Schlumberger Trading Down 0.2 %

Shares of NYSE SLB opened at $41.44 on Thursday. The stock has a market cap of $59.22 billion, a price-to-earnings ratio of 13.77, a PEG ratio of 0.85 and a beta of 1.52. The business has a 50 day simple moving average of $44.63 and a 200 day simple moving average of $47.48. Schlumberger Limited has a 52 week low of $38.66 and a 52 week high of $61.70. 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 (NYSE:SLB) last announced its quarterly 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 business had revenue of $9.14 billion during the quarter, compared to analysts’ expectations of $9.08 billion. Schlumberger had a return on equity of 21.92% and a net margin of 12.56%. The firm’s quarterly revenue was up 12.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.72 EPS. On average, research analysts predict that Schlumberger Limited will post 3.49 earnings per share for the current fiscal year.

Schlumberger Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 10th. Shareholders of record on Wednesday, September 4th will be given a dividend of $0.275 per share. The ex-dividend date is Wednesday, September 4th. This represents a $1.10 dividend on an annualized basis and a yield of 2.65%. Schlumberger’s payout ratio is currently 36.54%.

Wall Street Analyst Weigh In

Several research firms have issued reports on SLB. Dbs Bank began coverage on Schlumberger in a report on Wednesday. They set a “buy” rating and a $64.50 price objective on the stock. Evercore ISI boosted their price objective on Schlumberger from $73.00 to $74.00 and gave the stock an “outperform” rating in a report on Monday, July 22nd. Citigroup cut 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. Susquehanna lowered their target price on Schlumberger from $77.00 to $70.00 and set a “positive” rating on the stock in a research note on Thursday, July 11th. Finally, Benchmark reaffirmed a “buy” rating and set a $68.00 target price on shares of Schlumberger in a research note on Monday, July 22nd. Two analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $66.29.

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.