Amalgamated Bank Has $13.62 Million Holdings in Schlumberger Limited (NYSE:SLB)

Amalgamated Bank decreased its holdings in Schlumberger Limited (NYSE:SLB) by 1.6% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 288,678 shares of the oil and gas company’s stock after selling 4,568 shares during the quarter. Amalgamated Bank’s holdings in Schlumberger were worth $13,620,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Register Financial Advisors LLC bought a new position in shares of Schlumberger in the first quarter valued at about $27,000. Bruce G. Allen Investments LLC raised its stake in shares of Schlumberger by 204.2% in the second quarter. Bruce G. Allen Investments LLC now owns 584 shares of the oil and gas company’s stock worth $28,000 after acquiring an additional 392 shares during the last quarter. Unique Wealth Strategies LLC acquired a new position in shares of Schlumberger during the second quarter worth approximately $30,000. Manchester Capital Management LLC grew its stake in shares of Schlumberger by 297.9% during the first quarter. Manchester Capital Management LLC now owns 569 shares of the oil and gas company’s stock valued at $31,000 after purchasing an additional 426 shares during the last quarter. Finally, Riverview Trust Co increased its holdings in shares of 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 purchasing an additional 308 shares in the last quarter. Institutional investors and hedge funds own 81.99% of the company’s stock.

Insider Buying and Selling

In related news, 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 transaction of $492,900.00. Following the sale, the director now owns 62,354 shares in the company, valued at $3,073,428.66. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Schlumberger news, EVP Mogharbel Khaled Al sold 120,668 shares of the company’s stock in a transaction on 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 sale, the executive vice president now directly owns 247,699 shares of the company’s stock, valued at $12,432,012.81. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Vijay Kasibhatla sold 10,000 shares of Schlumberger 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 completion of the transaction, the director now directly owns 62,354 shares of the company’s stock, valued at approximately $3,073,428.66. The disclosure for this sale can be found here. In the last ninety days, insiders sold 180,716 shares of company stock valued at $9,048,624. Company insiders own 0.26% of the company’s stock.

Schlumberger Stock Performance

SLB stock opened at $41.44 on Thursday. Schlumberger Limited has a 1-year low of $38.66 and a 1-year high of $61.70. The company has a current ratio of 1.49, a quick ratio of 1.13 and a debt-to-equity ratio of 0.55. The firm has a market cap of $59.22 billion, a PE ratio of 13.77, a P/E/G ratio of 0.85 and a beta of 1.52. The business’s 50-day moving average price is $44.63 and its two-hundred day moving average price is $47.48.

Schlumberger (NYSE:SLB) last released its quarterly earnings data 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. Schlumberger had a return on equity of 21.92% and a net margin of 12.56%. The business 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 business posted $0.72 EPS. Schlumberger’s revenue for the quarter was up 12.8% on a year-over-year basis. As a group, research analysts forecast that Schlumberger Limited will post 3.49 earnings per share for the current year.

Schlumberger Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 10th. Investors of record on Wednesday, September 4th will be given a $0.275 dividend. The ex-dividend date of this dividend is Wednesday, September 4th. This represents a $1.10 annualized dividend and a yield of 2.65%. Schlumberger’s dividend payout ratio is currently 36.54%.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. Bank of America decreased their price objective on Schlumberger from $62.00 to $58.00 and set a “buy” rating on the stock in a research report on Monday, July 15th. Barclays decreased their price target on Schlumberger from $70.00 to $67.00 and set an “overweight” rating on the stock in a report on Tuesday, July 23rd. TD Cowen upped their target price on shares of Schlumberger from $62.00 to $64.00 and gave the company a “buy” rating in a research report on Monday, July 22nd. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $69.00 target price on shares of Schlumberger in a research note on Monday, July 22nd. Finally, Susquehanna dropped their price target on shares of Schlumberger from $77.00 to $70.00 and set a “positive” rating for the company in a research note on Thursday, July 11th. Two investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $66.29.

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.