Fidelis Capital Partners LLC Cuts Position in Schlumberger Limited (NYSE:SLB)

Fidelis Capital Partners LLC reduced its stake in shares of Schlumberger Limited (NYSE:SLB) by 35.1% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,618 shares of the oil and gas company’s stock after selling 6,295 shares during the quarter. Fidelis Capital Partners LLC’s holdings in Schlumberger were worth $548,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Register Financial Advisors LLC bought a new position in Schlumberger in the first quarter worth about $27,000. Manchester Capital Management LLC grew its position in shares of Schlumberger by 297.9% in 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 last quarter. Bruce G. Allen Investments LLC boosted its position in shares of Schlumberger by 204.2% in the 2nd quarter. Bruce G. Allen Investments LLC now owns 584 shares of the oil and gas company’s stock worth $28,000 after purchasing an additional 392 shares in the last quarter. Transcendent Capital Group LLC purchased a new stake in Schlumberger in the fourth quarter valued at about $32,000. Finally, Unique Wealth Strategies LLC purchased a new position in shares of Schlumberger in the 2nd quarter valued at approximately $30,000. Institutional investors own 81.99% of the company’s stock.

Schlumberger Trading Down 0.8 %

Shares of SLB stock opened at $42.41 on Monday. The stock has a market capitalization of $60.62 billion, a P/E ratio of 14.09, a price-to-earnings-growth ratio of 0.86 and a beta of 1.51. Schlumberger Limited has a fifty-two week low of $38.66 and a fifty-two week high of $61.41. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.13 and a current ratio of 1.49. The company has a 50 day moving average price of $44.48 and a 200 day moving average price of $47.36.

Schlumberger (NYSE:SLB) last posted its quarterly earnings data on Friday, July 19th. The oil and gas company reported $0.85 earnings per share for the quarter, topping analysts’ consensus estimates of $0.83 by $0.02. The business had revenue of $9.14 billion for the quarter, compared to analyst estimates of $9.08 billion. Schlumberger had a return on equity of 21.92% and a net margin of 12.56%. The company’s revenue was up 12.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.72 earnings per share. Equities research analysts predict that Schlumberger Limited will post 3.49 EPS for the current fiscal year.

Schlumberger Dividend Announcement

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

Insider Transactions at Schlumberger

In related news, CFO Stephane Biguet sold 50,048 shares of the firm’s stock in a transaction that occurred on Monday, July 22nd. The shares were sold at an average price of $49.94, for a total value of $2,499,397.12. Following 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 filing with the SEC, which can be accessed through this hyperlink. In other Schlumberger news, CFO Stephane Biguet sold 50,048 shares of the firm’s stock in a transaction 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 sale, the chief financial officer now directly owns 203,076 shares in the company, valued at $10,141,615.44. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Vijay Kasibhatla sold 10,000 shares of the company’s stock in a transaction dated Monday, July 22nd. The stock was sold at an average price of $49.29, for a total value of $492,900.00. Following the transaction, 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 ninety days, insiders sold 180,716 shares of company stock valued at $9,048,624. 0.26% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on SLB. Royal Bank of Canada reiterated an “outperform” rating and issued a $69.00 target price on shares of Schlumberger in a research report on Monday, July 22nd. Barclays dropped their target price on Schlumberger from $70.00 to $67.00 and set an “overweight” rating on the stock in a research report on Tuesday, July 23rd. UBS Group reduced their price objective on shares of Schlumberger from $63.00 to $57.00 and set a “buy” rating for the company in a research report on Wednesday, September 18th. Evercore ISI increased their target price on Schlumberger from $73.00 to $74.00 and gave the company an “outperform” rating in a report on Monday, July 22nd. Finally, StockNews.com lowered shares of Schlumberger from a “buy” rating to a “hold” rating in a research report on Thursday, June 6th. Two analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $66.29.

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.