Schlumberger Limited (NYSE:SLB) Shares Sold by Lakewood Asset Management LLC

Lakewood Asset Management LLC lessened its holdings in shares of Schlumberger Limited (NYSE:SLB) by 5.8% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 38,828 shares of the oil and gas company’s stock after selling 2,400 shares during the quarter. Schlumberger accounts for 1.1% of Lakewood Asset Management LLC’s portfolio, making the stock its 27th largest position. Lakewood Asset Management LLC’s holdings in Schlumberger were worth $1,629,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of SLB. Register Financial Advisors LLC bought a new stake in shares of Schlumberger in the first quarter worth $27,000. Bruce G. Allen Investments LLC raised its stake 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 valued at $28,000 after purchasing an additional 392 shares in the last quarter. Unique Wealth Strategies LLC bought a new position in shares of Schlumberger during the second quarter worth about $30,000. Manchester Capital Management LLC grew its stake in Schlumberger by 297.9% in the first quarter. Manchester Capital Management LLC now owns 569 shares of the oil and gas company’s stock worth $31,000 after purchasing an additional 426 shares in the last quarter. Finally, Riverview Trust Co increased its holdings in Schlumberger by 90.6% in the second 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. 81.99% of the stock is currently owned by hedge funds and other institutional investors.

Schlumberger Price Performance

SLB traded up $0.13 during trading on Monday, reaching $45.59. The stock had a trading volume of 8,887,136 shares, compared to its average volume of 11,070,253. Schlumberger Limited has a 1-year low of $38.66 and a 1-year high of $61.20. The firm has a market capitalization of $64.73 billion, a price-to-earnings ratio of 15.13, a price-to-earnings-growth ratio of 0.94 and a beta of 1.51. The stock has a 50 day moving average of $43.34 and a two-hundred day moving average of $46.70. The company has a quick ratio of 1.13, a current ratio of 1.49 and a debt-to-equity ratio of 0.55.

Schlumberger (NYSE:SLB) last announced its earnings results on Friday, July 19th. The oil and gas company reported $0.85 earnings per share for the quarter, beating the consensus estimate of $0.83 by $0.02. The business had revenue of $9.14 billion during the quarter, compared to analysts’ expectations of $9.08 billion. Schlumberger had a return on equity of 21.92% and a net margin of 12.56%. The company’s quarterly revenue was up 12.8% on a year-over-year basis. During the same quarter last year, the business posted $0.72 earnings per share. As a group, equities analysts anticipate that Schlumberger Limited will post 3.48 EPS for the current fiscal year.

Schlumberger Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 10th. Investors of record on Wednesday, September 4th will be paid a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a yield of 2.41%. The ex-dividend date of this dividend is Wednesday, September 4th. Schlumberger’s dividend payout ratio is presently 36.54%.

Insiders Place Their Bets

In other Schlumberger 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 directly owns 247,699 shares of the company’s stock, valued at approximately $12,432,012.81. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Schlumberger news, Director Vijay Kasibhatla sold 10,000 shares of the firm’s 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 completion of the sale, the director now directly owns 62,354 shares in the company, valued at approximately $3,073,428.66. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, 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 value of $6,056,326.92. Following the completion of the transaction, the executive vice president now owns 247,699 shares in the company, valued at $12,432,012.81. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 180,716 shares of company stock worth $9,048,624. 0.26% of the stock is owned by insiders.

Analyst Ratings Changes

Several research analysts have recently commented on SLB shares. Morgan Stanley decreased their target price on Schlumberger from $65.00 to $60.00 and set an “overweight” rating for the company in a research report on Monday, September 16th. UBS Group lowered their target price on shares of Schlumberger from $63.00 to $57.00 and set a “buy” rating for the company in a research note on Wednesday, September 18th. Dbs Bank assumed coverage on shares of Schlumberger in a research report on Wednesday, September 18th. They issued a “buy” rating and a $64.50 price target on the stock. JPMorgan Chase & Co. lowered their price objective on shares of Schlumberger from $64.00 to $60.00 and set an “overweight” rating for the company in a research report on Tuesday, October 1st. Finally, Citigroup cut their target price on shares of Schlumberger from $65.00 to $62.00 and set a “buy” rating on the stock in a report on Friday, June 28th. Two investment analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Schlumberger currently has an average rating of “Moderate Buy” and a consensus price target of $65.29.

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.