Blair William & Co. IL Sells 35,285 Shares of Schlumberger Limited (NYSE:SLB)

Blair William & Co. IL trimmed its position in Schlumberger Limited (NYSE:SLB) by 25.9% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 100,907 shares of the oil and gas company’s stock after selling 35,285 shares during the period. Blair William & Co. IL’s holdings in Schlumberger were worth $4,761,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Carolinas Wealth Consulting LLC boosted its position in Schlumberger by 53.5% during the 4th quarter. Carolinas Wealth Consulting LLC now owns 1,960 shares of the oil and gas company’s stock worth $102,000 after acquiring an additional 683 shares during the last quarter. Crescent Grove Advisors LLC acquired a new position in Schlumberger during the second quarter worth $257,000. National Bank of Canada FI grew its position in Schlumberger by 15.0% in the first quarter. National Bank of Canada FI now owns 396,382 shares of the oil and gas company’s stock valued at $21,726,000 after purchasing an additional 51,637 shares in the last quarter. Mission Wealth Management LP acquired a new stake in Schlumberger in the 1st quarter valued at $245,000. Finally, Canada Pension Plan Investment Board lifted its position in Schlumberger by 9.0% during the 1st quarter. Canada Pension Plan Investment Board now owns 788,484 shares of the oil and gas company’s stock worth $43,217,000 after buying an additional 64,974 shares in the last quarter. 81.99% of the stock is owned by institutional investors and hedge funds.

Schlumberger Stock Performance

NYSE:SLB opened at $42.41 on Friday. The company has a current ratio of 1.49, a quick ratio of 1.13 and a debt-to-equity ratio of 0.55. The stock has a 50 day simple moving average of $44.48 and a 200 day simple moving average of $47.38. Schlumberger Limited has a 1-year low of $38.66 and a 1-year high of $61.41. The stock has a market cap of $60.22 billion, a P/E ratio of 14.09, a PEG ratio of 0.86 and a beta of 1.51.

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, 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 during the quarter, compared to analysts’ expectations of $9.08 billion. During the same quarter in the previous year, the business posted $0.72 earnings per share. Schlumberger’s quarterly revenue was up 12.8% on a year-over-year basis. Research analysts anticipate that Schlumberger Limited will post 3.49 earnings per share for the current year.

Schlumberger Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 10th. Stockholders of record on Wednesday, September 4th will be issued a dividend of $0.275 per share. The ex-dividend date is Wednesday, September 4th. This represents a $1.10 annualized dividend and a dividend yield of 2.59%. Schlumberger’s dividend payout ratio is presently 36.54%.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Evercore ISI lifted their target price on Schlumberger from $73.00 to $74.00 and gave the company an “outperform” rating in a research report on Monday, July 22nd. Bank of America dropped their price objective on Schlumberger from $62.00 to $58.00 and set a “buy” rating on the stock in a research note on Monday, July 15th. Morgan Stanley decreased their target price on shares of Schlumberger from $65.00 to $60.00 and set an “overweight” rating for the company in a research note on Monday, September 16th. UBS Group dropped their price target on shares of Schlumberger from $63.00 to $57.00 and set a “buy” rating on the stock in a research report on Wednesday. Finally, Piper Sandler decreased their price objective on shares of Schlumberger from $71.00 to $66.00 and set an “overweight” rating for the company in a research report on Monday, July 15th. Two investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to MarketBeat.com, Schlumberger has an average rating of “Moderate Buy” and an average target price of $66.29.

Insider Activity

In related news, Director Vijay Kasibhatla sold 10,000 shares of the 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 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 is available at 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 transaction 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Vijay Kasibhatla sold 10,000 shares of the stock in a transaction dated Monday, July 22nd. The stock was sold at an average price of $49.29, for a total transaction of $492,900.00. Following the sale, the director now owns 62,354 shares in the company, valued at $3,073,428.66. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 180,716 shares of company stock worth $9,048,624. Corporate 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.