Schlumberger Limited (NYSE:SLB) Shares Sold by Birmingham Capital Management Co. Inc. AL

Birmingham Capital Management Co. Inc. AL lessened its position in shares of Schlumberger Limited (NYSE:SLB) by 3.5% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 38,035 shares of the oil and gas company’s stock after selling 1,380 shares during the quarter. Birmingham Capital Management Co. Inc. AL’s holdings in Schlumberger were worth $1,794,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Register Financial Advisors LLC purchased a new stake in shares of Schlumberger in the first quarter valued at about $27,000. Bruce G. Allen Investments LLC raised its position in shares of Schlumberger by 204.2% during the 2nd quarter. Bruce G. Allen Investments LLC now owns 584 shares of the oil and gas company’s stock worth $28,000 after purchasing an additional 392 shares during the last quarter. Unique Wealth Strategies LLC purchased a new stake in Schlumberger in the 2nd quarter valued at approximately $30,000. Manchester Capital Management LLC grew its holdings in Schlumberger by 297.9% during the 1st quarter. Manchester Capital Management LLC now owns 569 shares of the oil and gas company’s stock valued at $31,000 after buying an additional 426 shares during the last quarter. Finally, Riverview Trust Co increased its position in Schlumberger by 90.6% during the second quarter. Riverview Trust Co now owns 648 shares of the oil and gas company’s stock worth $31,000 after buying an additional 308 shares in the last quarter. 81.99% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Schlumberger news, EVP Mogharbel Khaled Al sold 120,668 shares of the 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 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 filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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 transaction, the director now owns 62,354 shares in the company, valued at $3,073,428.66. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, 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 of the company’s stock, valued at approximately $12,432,012.81. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 180,716 shares of company stock valued at $9,048,624. Corporate insiders own 0.26% of the company’s stock.

Schlumberger Price Performance

SLB opened at $43.14 on Wednesday. Schlumberger Limited has a 52-week low of $38.66 and a 52-week high of $61.20. The company has a 50 day moving average of $43.56 and a two-hundred day moving average of $46.89. The company has a market cap of $61.25 billion, a P/E ratio of 14.33, a P/E/G ratio of 0.90 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 (NYSE:SLB) last announced its quarterly earnings results on Friday, July 19th. The oil and gas company reported $0.85 earnings per share for the quarter, topping analysts’ consensus estimates of $0.83 by $0.02. Schlumberger had a net margin of 12.56% and a return on equity of 21.92%. The firm had revenue of $9.14 billion during the quarter, compared to analysts’ expectations of $9.08 billion. During the same period in the prior year, the company earned $0.72 EPS. The firm’s revenue was up 12.8% on a year-over-year basis. On average, analysts expect that Schlumberger Limited will post 3.49 earnings per share for the current year.

Schlumberger Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 10th. Investors of record on Wednesday, September 4th will be issued 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 2.55%. Schlumberger’s payout ratio is currently 36.54%.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the company. Morgan Stanley reduced their price objective on Schlumberger from $65.00 to $60.00 and set an “overweight” rating on the stock in a research report on Monday, September 16th. Susquehanna reduced their target price on shares of Schlumberger from $77.00 to $70.00 and set a “positive” rating on the stock in a report on Thursday, July 11th. Royal Bank of Canada reiterated an “outperform” rating and set a $69.00 price target on shares of Schlumberger in a report on Monday, July 22nd. Wells Fargo & Company reduced their price objective on shares of Schlumberger from $53.00 to $49.00 and set an “equal weight” rating on the stock in a research note on Wednesday, September 25th. Finally, Bank of America decreased their target price on shares of Schlumberger from $62.00 to $58.00 and set a “buy” rating on the stock in a research report on Monday, July 15th. Two analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the stock. According to MarketBeat.com, Schlumberger currently has an average rating of “Moderate Buy” and an average price target of $65.78.

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.