Hollencrest Capital Management Sells 4,091 Shares of Schlumberger Limited (NYSE:SLB)

Hollencrest Capital Management lowered its holdings in shares of Schlumberger Limited (NYSE:SLB) by 27.3% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,915 shares of the oil and gas company’s stock after selling 4,091 shares during the quarter. Hollencrest Capital Management’s holdings in Schlumberger were worth $515,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Carolinas Wealth Consulting LLC increased its holdings in Schlumberger by 53.5% during the 4th quarter. Carolinas Wealth Consulting LLC now owns 1,960 shares of the oil and gas company’s stock worth $102,000 after purchasing an additional 683 shares in the last quarter. Crescent Grove Advisors LLC bought a new stake in Schlumberger in the second quarter valued at approximately $257,000. National Bank of Canada FI lifted its stake in shares of Schlumberger by 15.0% during the 1st quarter. National Bank of Canada FI now owns 396,382 shares of the oil and gas company’s stock worth $21,726,000 after buying an additional 51,637 shares during the last quarter. Mission Wealth Management LP acquired a new position in shares of Schlumberger in the first quarter valued at approximately $245,000. Finally, Canada Pension Plan Investment Board boosted its stake in Schlumberger by 9.0% in the 1st quarter. Canada Pension Plan Investment Board now owns 788,484 shares of the oil and gas company’s stock valued at $43,217,000 after purchasing an additional 64,974 shares during the period. Institutional investors own 81.99% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on SLB. Evercore ISI lifted their target price on Schlumberger from $73.00 to $74.00 and gave the stock an “outperform” rating in a report on Monday, July 22nd. UBS Group dropped their price objective on shares of Schlumberger from $63.00 to $57.00 and set a “buy” rating for the company in a research note on Wednesday. Dbs Bank began coverage on shares of Schlumberger in a research report on Wednesday. They set a “buy” rating and a $64.50 target price on the stock. Barclays dropped their price target on shares of Schlumberger from $70.00 to $67.00 and set an “overweight” rating for the company in a research report on Tuesday, July 23rd. Finally, Piper Sandler reduced 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. Two equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $66.29.

Insider Transactions at Schlumberger

In other news, CFO Stephane Biguet sold 50,048 shares of the business’s stock in a transaction dated 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 transaction, the chief financial officer now directly owns 203,076 shares of the company’s stock, valued at approximately $10,141,615.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Vijay Kasibhatla sold 10,000 shares of the business’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 completion of the sale, the director now directly owns 62,354 shares of the company’s stock, valued at approximately $3,073,428.66. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Stephane Biguet sold 50,048 shares of the stock in a transaction that occurred 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 completion of the transaction, the chief financial officer now owns 203,076 shares in the company, valued at approximately $10,141,615.44. The disclosure for this sale can be found here. Insiders sold 180,716 shares of company stock worth $9,048,624 over the last ninety days. 0.26% of the stock is owned by insiders.

Schlumberger Stock Performance

Shares of SLB stock opened at $42.76 on Friday. The business’s 50-day moving average price is $44.56 and its 200-day moving average price is $47.45. Schlumberger Limited has a 12 month low of $38.66 and a 12 month high of $61.41. 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 capitalization of $60.71 billion, a price-to-earnings ratio of 14.20, a PEG ratio of 0.86 and a beta of 1.51.

Schlumberger (NYSE:SLB) last posted its earnings results on Friday, July 19th. The oil and gas company reported $0.85 EPS for the quarter, topping the consensus estimate of $0.83 by $0.02. The business had revenue of $9.14 billion for 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 revenue was up 12.8% compared to the same quarter last year. During the same period last year, the company earned $0.72 EPS. Equities research analysts forecast that Schlumberger Limited will post 3.49 EPS for the current year.

Schlumberger Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 10th. Shareholders of record on Wednesday, September 4th will be issued a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a yield of 2.57%. The ex-dividend date is Wednesday, September 4th. Schlumberger’s payout ratio is presently 36.54%.

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.