Sompo Asset Management Co. Ltd. Trims Stock Holdings in Schlumberger Limited (NYSE:SLB)

Sompo Asset Management Co. Ltd. decreased its position in Schlumberger Limited (NYSE:SLB) by 11.8% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,860 shares of the oil and gas company’s stock after selling 1,050 shares during the period. Sompo Asset Management Co. Ltd.’s holdings in Schlumberger were worth $371,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Register Financial Advisors LLC purchased a new position in shares of Schlumberger during the 1st quarter valued at about $27,000. Bruce G. Allen Investments LLC raised its stake in shares of 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 valued at $28,000 after buying an additional 392 shares during the last quarter. Unique Wealth Strategies LLC purchased a new position in shares of Schlumberger during the 2nd quarter valued at about $30,000. Manchester Capital Management LLC raised its stake in shares of Schlumberger by 297.9% during the 1st quarter. Manchester Capital Management LLC now owns 569 shares of the oil and gas company’s stock valued at $31,000 after buying an additional 426 shares during the last quarter. Finally, Riverview Trust Co raised its stake in shares of Schlumberger by 90.6% during the 2nd quarter. Riverview Trust Co now owns 648 shares of the oil and gas company’s stock valued at $31,000 after buying an additional 308 shares during the last quarter. Hedge funds and other institutional investors own 81.99% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. Evercore ISI lifted their price objective on Schlumberger from $73.00 to $74.00 and gave the company an “outperform” rating in a research note on Monday, July 22nd. TD Cowen lifted their price target on Schlumberger from $62.00 to $64.00 and gave the company a “buy” rating in a research note on Monday, July 22nd. Susquehanna lowered their price target on Schlumberger from $77.00 to $70.00 and set a “positive” rating on the stock in a research report on Thursday, July 11th. Benchmark reiterated a “buy” rating and set a $68.00 price target on shares of Schlumberger in a research report on Monday, July 22nd. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $69.00 price target on shares of Schlumberger in a research report on Monday, July 22nd. Two equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to data from MarketBeat.com, Schlumberger currently has an average rating of “Moderate Buy” and an average price target of $66.29.

Insider Activity

In other news, EVP Mogharbel Khaled Al sold 120,668 shares of the business’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 transaction, the executive vice president now owns 247,699 shares of the company’s stock, valued at approximately $12,432,012.81. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, Director Vijay Kasibhatla sold 10,000 shares of the business’s stock in a transaction dated Monday, July 22nd. The shares were sold at an average price of $49.29, for a total transaction of $492,900.00. Following the transaction, the director now owns 62,354 shares of the company’s stock, valued at approximately $3,073,428.66. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Mogharbel Khaled Al sold 120,668 shares of the business’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 transaction, the executive vice president now directly owns 247,699 shares in the company, valued at approximately $12,432,012.81. The disclosure for this sale can be found here. In the last quarter, insiders have sold 180,716 shares of company stock valued at $9,048,624. 0.26% of the stock is currently owned by insiders.

Schlumberger Trading Down 0.8 %

Shares of SLB opened at $42.41 on Friday. Schlumberger Limited has a 52-week low of $38.66 and a 52-week high of $61.41. The company has a quick ratio of 1.13, a current ratio of 1.49 and a debt-to-equity ratio of 0.55. The firm’s fifty day moving average is $44.48 and its two-hundred day moving average is $47.38. The stock has a market cap of $60.22 billion, a PE ratio of 14.09, a price-to-earnings-growth 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, topping the consensus estimate 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 for the quarter, compared to analysts’ expectations of $9.08 billion. During the same quarter in the previous year, the company posted $0.72 EPS. The firm’s quarterly revenue was up 12.8% on a year-over-year basis. Research analysts forecast that Schlumberger Limited will post 3.49 earnings per share for the current fiscal year.

Schlumberger Announces Dividend

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

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.