GM Advisory Group LLC Sells 1,480 Shares of Schlumberger Limited (NYSE:SLB)

GM Advisory Group LLC lessened its position in Schlumberger Limited (NYSE:SLB) by 18.7% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,454 shares of the oil and gas company’s stock after selling 1,480 shares during the quarter. GM Advisory Group LLC’s holdings in Schlumberger were worth $304,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in SLB. Carolinas Wealth Consulting LLC boosted its position in Schlumberger by 53.5% during the fourth quarter. Carolinas Wealth Consulting LLC now owns 1,960 shares of the oil and gas company’s stock valued at $102,000 after buying an additional 683 shares during the period. Crescent Grove Advisors LLC purchased a new stake in Schlumberger during the second quarter valued at about $257,000. National Bank of Canada FI boosted its position in Schlumberger by 15.0% during the first quarter. National Bank of Canada FI now owns 396,382 shares of the oil and gas company’s stock valued at $21,726,000 after buying an additional 51,637 shares during the period. Mission Wealth Management LP purchased a new stake in Schlumberger during the first quarter valued at about $245,000. Finally, Canada Pension Plan Investment Board boosted its position in Schlumberger by 9.0% during the first 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 buying an additional 64,974 shares during the period. Institutional investors own 81.99% of the company’s stock.

Insider Activity at Schlumberger

In related news, EVP Mogharbel Khaled Al sold 120,668 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the executive vice president now owns 247,699 shares of the company’s stock, valued at $12,432,012.81. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, EVP Mogharbel Khaled Al sold 120,668 shares of the firm’s stock in a transaction that occurred on 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 sale, the executive vice president now owns 247,699 shares in the company, valued at $12,432,012.81. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Vijay Kasibhatla sold 10,000 shares of the firm’s 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 owns 62,354 shares in the company, valued at approximately $3,073,428.66. The disclosure for this sale can be found here. Insiders sold 180,716 shares of company stock valued at $9,048,624 over the last 90 days. Corporate insiders own 0.26% of the company’s stock.

Schlumberger Price Performance

Shares of NYSE SLB opened at $42.76 on Friday. Schlumberger Limited has a fifty-two week low of $38.66 and a fifty-two week high of $61.41. The company has a 50 day simple moving average of $44.56 and a two-hundred day simple moving average of $47.45. The company has a market capitalization of $60.71 billion, a price-to-earnings ratio of 14.20, a P/E/G ratio of 0.86 and a beta of 1.51. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.13 and a current ratio of 1.49.

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 analysts’ consensus estimates of $0.83 by $0.02. The business 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 business’s revenue for the quarter was up 12.8% on a year-over-year basis. During the same quarter last year, the firm earned $0.72 earnings per share. Analysts expect that Schlumberger Limited will post 3.49 EPS for the current fiscal 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. This represents a $1.10 annualized dividend and a dividend yield of 2.57%. The ex-dividend date is Wednesday, September 4th. Schlumberger’s dividend payout ratio (DPR) is currently 36.54%.

Wall Street Analyst Weigh In

Several analysts have issued reports on SLB shares. Royal Bank of Canada restated an “outperform” rating and set a $69.00 price target on shares of Schlumberger in a research report on Monday, July 22nd. Benchmark reiterated a “buy” rating and set a $68.00 target price on shares of Schlumberger in a report on Monday, July 22nd. Morgan Stanley dropped their target price on shares of Schlumberger from $65.00 to $60.00 and set an “overweight” rating for the company in a report on Monday. Piper Sandler dropped their target price on shares of Schlumberger from $71.00 to $66.00 and set an “overweight” rating for the company in a report on Monday, July 15th. Finally, Evercore ISI increased their target price on shares of Schlumberger from $73.00 to $74.00 and gave the stock an “outperform” rating in a report on Monday, July 22nd. Two equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to data from MarketBeat.com, Schlumberger currently has a consensus rating of “Moderate Buy” and a consensus target price of $66.29.

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.