Ieq Capital LLC Sells 2,881 Shares of Schlumberger Limited (NYSE:SLB)

Ieq Capital LLC cut its position in Schlumberger Limited (NYSE:SLB) by 4.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 63,486 shares of the oil and gas company’s stock after selling 2,881 shares during the quarter. Ieq Capital LLC’s holdings in Schlumberger were worth $2,995,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in SLB. Gryphon Financial Partners LLC lifted its position in shares of 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 buying an additional 2,068 shares during the last quarter. CreativeOne Wealth LLC acquired a new stake in Schlumberger during the 4th quarter valued at $214,000. US Bancorp DE boosted its position in Schlumberger by 64.3% during the fourth quarter. US Bancorp DE now owns 820,154 shares of the oil and gas company’s stock worth $42,681,000 after purchasing an additional 321,078 shares during the period. FineMark National Bank & Trust increased its holdings in shares of Schlumberger by 5.0% in the fourth quarter. FineMark National Bank & Trust now owns 13,835 shares of the oil and gas company’s stock valued at $720,000 after purchasing an additional 657 shares during the last quarter. Finally, SageView Advisory Group LLC raised its position in shares of Schlumberger by 82.5% in the fourth quarter. SageView Advisory Group LLC now owns 6,955 shares of the oil and gas company’s stock valued at $343,000 after purchasing an additional 3,145 shares during the period. 81.99% of the stock is owned by institutional investors.

Insider Activity

In related news, EVP Mogharbel Khaled Al sold 120,668 shares of the business’s stock in a transaction on 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 in the company, valued at approximately $12,432,012.81. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, EVP Mogharbel Khaled Al sold 120,668 shares of Schlumberger 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 sale, the executive vice president now directly owns 247,699 shares in the company, valued at approximately $12,432,012.81. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Vijay Kasibhatla sold 10,000 shares of the firm’s stock in a transaction on Monday, July 22nd. The shares were sold at an average price of $49.29, for a total transaction of $492,900.00. Following 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 worth $9,048,624. Insiders own 0.26% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on SLB. Bank of America decreased their price target on shares of Schlumberger from $62.00 to $58.00 and set a “buy” rating on the stock in a research note on Monday, July 15th. StockNews.com cut Schlumberger from a “buy” rating to a “hold” rating in a report on Thursday, June 6th. TD Cowen boosted their price target on Schlumberger from $62.00 to $64.00 and gave the company a “buy” rating in a research note on Monday, July 22nd. Benchmark reissued a “buy” rating and set a $68.00 target price on shares of Schlumberger in a report on Monday, July 22nd. Finally, Susquehanna decreased their price target on shares of Schlumberger from $77.00 to $70.00 and set a “positive” rating on the stock 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 company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $66.29.

Schlumberger Trading Down 0.8 %

Shares of SLB opened at $42.41 on Friday. 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 Limited has a 52-week low of $38.66 and a 52-week high of $61.41. The firm has a market cap of $60.22 billion, a price-to-earnings ratio of 14.09, a PEG ratio of 0.86 and a beta of 1.51. The business’s fifty day moving average is $44.48 and its 200-day moving average is $47.38.

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 analysts’ consensus estimates of $0.83 by $0.02. The firm had revenue of $9.14 billion during the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.72 earnings per share. Equities analysts anticipate that Schlumberger Limited will post 3.49 EPS for the current fiscal year.

Schlumberger Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 10th. Stockholders of record on Wednesday, September 4th will be issued a dividend of $0.275 per share. The ex-dividend date of this dividend is Wednesday, September 4th. This represents a $1.10 annualized dividend and a dividend yield of 2.59%. Schlumberger’s dividend payout ratio (DPR) is presently 36.54%.

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.