Cyrus J. Lawrence LLC Trims Holdings in Schlumberger Limited (NYSE:SLB)

Cyrus J. Lawrence LLC lowered its stake in shares of Schlumberger Limited (NYSE:SLB) by 99.3% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 920 shares of the oil and gas company’s stock after selling 132,928 shares during the quarter. Cyrus J. Lawrence LLC’s holdings in Schlumberger were worth $43,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in SLB. Vanguard Group Inc. increased its position in shares of Schlumberger by 1.4% in the 1st quarter. Vanguard Group Inc. now owns 134,150,168 shares of the oil and gas company’s stock worth $7,352,771,000 after purchasing an additional 1,868,688 shares during the last quarter. Capital World Investors increased its holdings in Schlumberger by 72.3% in the first quarter. Capital World Investors now owns 88,950,956 shares of the oil and gas company’s stock valued at $4,875,402,000 after buying an additional 37,333,485 shares during the last quarter. Price T Rowe Associates Inc. MD raised its stake in Schlumberger by 14.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 85,986,039 shares of the oil and gas company’s stock valued at $4,712,897,000 after buying an additional 10,606,191 shares in the last quarter. Capital International Investors increased its holdings in shares of Schlumberger by 0.6% in the 4th quarter. Capital International Investors now owns 14,797,363 shares of the oil and gas company’s stock valued at $770,122,000 after acquiring an additional 89,483 shares during the last quarter. Finally, Boston Partners raised its position in shares of Schlumberger by 35.8% during the 1st quarter. Boston Partners now owns 11,640,827 shares of the oil and gas company’s stock valued at $635,883,000 after acquiring an additional 3,069,395 shares in the last quarter. 81.99% of the stock is owned by institutional investors and hedge funds.

Schlumberger Trading Down 0.8 %

Schlumberger stock opened at $42.41 on Monday. Schlumberger Limited has a 12-month low of $38.66 and a 12-month high of $61.41. 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 stock has a market capitalization of $60.62 billion, a PE ratio of 14.09, a price-to-earnings-growth ratio of 0.86 and a beta of 1.51. The firm has a 50 day simple moving average of $44.48 and a 200-day simple moving average of $47.36.

Schlumberger (NYSE:SLB) last issued its quarterly 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 return on equity of 21.92% and a net margin of 12.56%. The firm had revenue of $9.14 billion during the quarter, compared to analyst estimates of $9.08 billion. During the same period last year, the company posted $0.72 EPS. The firm’s quarterly revenue was up 12.8% on a year-over-year basis. As a group, equities research analysts expect that Schlumberger Limited will post 3.49 EPS for the current fiscal year.

Schlumberger Dividend Announcement

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

Analyst Ratings Changes

A number of research analysts have recently issued reports on the stock. Citigroup reduced their price target on shares of Schlumberger from $65.00 to $62.00 and set a “buy” rating on the stock in a research report on Friday, June 28th. Bank of America decreased their target price on Schlumberger from $62.00 to $58.00 and set a “buy” rating for the company in a research note on Monday, July 15th. Piper Sandler dropped their price target on Schlumberger from $71.00 to $66.00 and set an “overweight” rating on the stock in a research report on Monday, July 15th. Morgan Stanley reduced their price objective on Schlumberger from $65.00 to $60.00 and set an “overweight” rating for the company in a research report on Monday, September 16th. Finally, UBS Group dropped their target price on Schlumberger from $63.00 to $57.00 and set a “buy” rating on the stock in a research report on Wednesday, September 18th. Two research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $66.29.

Insiders Place Their Bets

In other news, EVP Mogharbel Khaled Al sold 120,668 shares of Schlumberger stock in a transaction that occurred 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 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 Securities & Exchange Commission, which is accessible through the SEC website. In other news, EVP Mogharbel Khaled Al sold 120,668 shares of the 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 completion of the sale, the executive vice president now owns 247,699 shares in the company, valued at approximately $12,432,012.81. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Vijay Kasibhatla sold 10,000 shares of the firm’s stock in a transaction on Monday, July 22nd. The stock was sold at an average price of $49.29, for a total value of $492,900.00. Following the sale, the director now directly owns 62,354 shares of the company’s stock, valued at $3,073,428.66. The disclosure for this sale can be found here. Over the last three months, insiders have sold 180,716 shares of company stock worth $9,048,624. 0.26% of the stock is owned by corporate insiders.

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.