Xponance Inc. Sells 2,505 Shares of Schlumberger Limited (NYSE:SLB)

Xponance Inc. decreased its position in shares of Schlumberger Limited (NYSE:SLB) by 1.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 196,810 shares of the oil and gas company’s stock after selling 2,505 shares during the quarter. Xponance Inc.’s holdings in Schlumberger were worth $9,285,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Gryphon Financial Partners LLC increased its position in shares of Schlumberger by 46.3% in the 4th quarter. Gryphon Financial Partners LLC now owns 6,538 shares of the oil and gas company’s stock valued at $340,000 after buying an additional 2,068 shares in the last quarter. SageView Advisory Group LLC lifted its position in Schlumberger by 82.5% in the 4th quarter. SageView Advisory Group LLC now owns 6,955 shares of the oil and gas company’s stock valued at $343,000 after acquiring an additional 3,145 shares in the last quarter. Congress Wealth Management LLC DE boosted its stake in Schlumberger by 10.4% in the 4th quarter. Congress Wealth Management LLC DE now owns 12,140 shares of the oil and gas company’s stock worth $632,000 after purchasing an additional 1,146 shares during the period. Johnson Financial Group Inc. bought a new position in Schlumberger during the 4th quarter worth about $51,000. Finally, Hilltop Holdings Inc. lifted its holdings in shares of Schlumberger by 2.1% in the fourth quarter. Hilltop Holdings Inc. now owns 10,761 shares of the oil and gas company’s stock valued at $560,000 after purchasing an additional 219 shares in the last quarter. Institutional investors and hedge funds own 81.99% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have commented on SLB. Barclays cut their target price on Schlumberger from $70.00 to $67.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 23rd. Dbs Bank assumed coverage on shares of Schlumberger in a report on Wednesday, September 18th. They set a “buy” rating and a $64.50 target price for the company. Citigroup cut 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. Benchmark reaffirmed a “buy” rating and issued a $68.00 target price on shares of Schlumberger in a research report on Monday, July 22nd. Finally, Bank of America lowered their price target on Schlumberger from $62.00 to $58.00 and set a “buy” rating on the stock in a research report on Monday, July 15th. Two analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Schlumberger currently has a consensus rating of “Moderate Buy” and a consensus price target of $66.29.

Schlumberger Price Performance

NYSE:SLB opened at $42.90 on Tuesday. Schlumberger Limited has a 52 week low of $38.66 and a 52 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 firm’s 50-day simple moving average is $44.38 and its 200 day simple moving average is $47.31. The firm has a market cap of $61.32 billion, a price-to-earnings ratio of 14.25, a P/E/G ratio of 0.86 and a beta of 1.51.

Schlumberger (NYSE:SLB) last released its quarterly earnings results on Friday, July 19th. The oil and gas company reported $0.85 earnings per share for the quarter, beating analysts’ consensus estimates of $0.83 by $0.02. The company had revenue of $9.14 billion during the quarter, compared to the consensus estimate of $9.08 billion. Schlumberger had a net margin of 12.56% and a return on equity of 21.92%. The firm’s quarterly revenue was up 12.8% on a year-over-year basis. During the same period in the previous year, the business earned $0.72 earnings per share. As a group, sell-side analysts predict that Schlumberger Limited will post 3.49 earnings per share for the current year.

Schlumberger Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 10th. Investors 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 2.56%. Schlumberger’s dividend payout ratio is 36.54%.

Insider Activity at Schlumberger

In other Schlumberger news, CFO Stephane Biguet sold 50,048 shares of the company’s stock in a transaction 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 directly owns 203,076 shares in the company, valued at $10,141,615.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Vijay Kasibhatla sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, July 22nd. The shares were sold at an average price of $49.29, for a total value of $492,900.00. Following the sale, the director now directly owns 62,354 shares in the company, valued at approximately $3,073,428.66. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Stephane Biguet sold 50,048 shares of the stock in a transaction that occurred on Monday, July 22nd. The shares were sold at an average price of $49.94, for a total transaction of $2,499,397.12. Following the completion of the transaction, the chief financial officer now directly owns 203,076 shares of the company’s stock, valued at approximately $10,141,615.44. The disclosure for this sale can be found here. Insiders have sold 180,716 shares of company stock valued at $9,048,624 over the last three months. 0.26% of the stock is owned by insiders.

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.