Waters Parkerson & CO. LLC Has $1.21 Million Stake in Schlumberger Limited (NYSE:SLB)

Waters Parkerson & CO. LLC cut its position in Schlumberger Limited (NYSE:SLB) by 2.5% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 25,586 shares of the oil and gas company’s stock after selling 650 shares during the quarter. Waters Parkerson & CO. LLC’s holdings in Schlumberger were worth $1,207,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Gryphon Financial Partners LLC grew its position in Schlumberger by 46.3% in the fourth quarter. Gryphon Financial Partners LLC now owns 6,538 shares of the oil and gas company’s stock valued at $340,000 after acquiring an additional 2,068 shares during the last quarter. Gladstone Institutional Advisory LLC grew its stake in shares of Schlumberger by 42.8% during the fourth quarter. Gladstone Institutional Advisory LLC now owns 8,570 shares of the oil and gas company’s stock worth $446,000 after buying an additional 2,570 shares during the last quarter. Clearbridge Investments LLC increased its holdings in shares of Schlumberger by 3.0% during the fourth quarter. Clearbridge Investments LLC now owns 638,472 shares of the oil and gas company’s stock worth $33,226,000 after buying an additional 18,342 shares in the last quarter. Corient Private Wealth LLC boosted its holdings in shares of Schlumberger by 11.5% during the 4th quarter. Corient Private Wealth LLC now owns 696,690 shares of the oil and gas company’s stock valued at $36,256,000 after acquiring an additional 72,001 shares in the last quarter. Finally, CreativeOne Wealth LLC bought a new stake in Schlumberger during the 4th quarter worth $214,000. Institutional investors and hedge funds own 81.99% of the company’s stock.

Wall Street Analysts Forecast Growth

SLB has been the subject of several recent research reports. Royal Bank of Canada reiterated an “outperform” rating and issued a $69.00 price objective on shares of Schlumberger in a report on Monday, July 22nd. Benchmark reiterated a “buy” rating and issued a $68.00 price target on shares of Schlumberger in a research report on Monday, July 22nd. Bank of America lowered their price objective on Schlumberger from $62.00 to $58.00 and set a “buy” rating for the company in a research report on Monday, July 15th. StockNews.com downgraded shares of Schlumberger from a “buy” rating to a “hold” rating in a research report on Thursday, June 6th. Finally, Dbs Bank began coverage on shares of Schlumberger in a research note on Wednesday. They issued a “buy” rating and a $64.50 price objective on the stock. 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 stock currently has an average rating of “Moderate Buy” and a consensus price target of $66.29.

Schlumberger Stock Performance

Shares of Schlumberger stock opened at $42.76 on Friday. The company has a market cap of $60.71 billion, a PE ratio of 14.20, a price-to-earnings-growth ratio of 0.86 and a beta of 1.51. 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 Limited has a 52 week low of $38.66 and a 52 week high of $61.41. The business has a 50 day moving average price of $44.56 and a 200-day moving average price of $47.45.

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

Schlumberger Announces Dividend

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

Insider Transactions at Schlumberger

In related news, Director Vijay Kasibhatla sold 10,000 shares of the stock in a transaction that occurred on 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 of the company’s stock, valued at $3,073,428.66. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Vijay Kasibhatla sold 10,000 shares of the 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 owns 62,354 shares in the company, valued at $3,073,428.66. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Mogharbel Khaled Al sold 120,668 shares of the firm’s stock in a transaction dated Monday, July 22nd. The stock was 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 owns 247,699 shares of the company’s stock, valued at approximately $12,432,012.81. The disclosure for this sale can be found here. Insiders have sold 180,716 shares of company stock worth $9,048,624 in the last 90 days. Insiders own 0.26% of the company’s stock.

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.