Schlumberger Limited (NYSE:SLB) Holdings Trimmed by KG&L Capital Management LLC

KG&L Capital Management LLC cut its holdings in Schlumberger Limited (NYSE:SLB) by 28.2% during the 1st quarter, Holdings Channel.com reports. The fund owned 11,314 shares of the oil and gas company’s stock after selling 4,450 shares during the quarter. KG&L Capital Management LLC’s holdings in Schlumberger were worth $473,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Alpine Bank Wealth Management bought a new stake in Schlumberger during the first quarter worth approximately $34,000. True Wealth Design LLC raised its position in shares of Schlumberger by 584.7% during the fourth quarter. True Wealth Design LLC now owns 986 shares of the oil and gas company’s stock worth $38,000 after purchasing an additional 842 shares during the period. Mpwm Advisory Solutions LLC purchased a new stake in shares of Schlumberger during the fourth quarter valued at $40,000. Sound Income Strategies LLC increased its stake in Schlumberger by 265.4% in the 1st quarter. Sound Income Strategies LLC now owns 961 shares of the oil and gas company’s stock worth $40,000 after purchasing an additional 698 shares in the last quarter. Finally, J.Safra Asset Management Corp acquired a new stake in Schlumberger during the 4th quarter worth about $46,000. Institutional investors own 81.99% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on SLB. Susquehanna cut their price target on shares of Schlumberger from $48.00 to $46.00 and set a “positive” rating on the stock in a report on Monday, April 28th. Stifel Nicolaus cut their target price on shares of Schlumberger from $58.00 to $54.00 and set a “buy” rating on the stock in a research note on Monday, April 28th. Jefferies Financial Group lowered their price target on Schlumberger from $60.00 to $59.00 and set a “buy” rating on the stock in a report on Thursday, March 27th. Piper Sandler reduced their price objective on Schlumberger from $46.00 to $44.00 and set a “neutral” rating for the company in a research note on Tuesday, April 29th. Finally, Wells Fargo & Company lowered their target price on Schlumberger from $46.00 to $43.00 and set an “overweight” rating on the stock in a research note on Thursday, June 5th. Four research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Schlumberger presently has an average rating of “Moderate Buy” and a consensus target price of $52.38.

Insider Activity at Schlumberger

In related news, insider Aparna Raman sold 25,133 shares of the stock in a transaction dated Friday, March 28th. The shares were sold at an average price of $42.28, for a total value of $1,062,623.24. Following the completion of the sale, the insider now owns 31,031 shares in the company, valued at approximately $1,311,990.68. This trade represents a 44.75% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director La Chevardiere Patrick De sold 5,000 shares of the business’s stock in a transaction dated Thursday, May 22nd. The shares were sold at an average price of $33.58, for a total value of $167,900.00. Following the transaction, the director now owns 23,525 shares in the company, valued at $789,969.50. This represents a 17.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.26% of the company’s stock.

Schlumberger Price Performance

Shares of Schlumberger stock opened at $33.21 on Thursday. The company has a current ratio of 1.24, a quick ratio of 0.93 and a debt-to-equity ratio of 0.51. The firm has a fifty day simple moving average of $34.51 and a 200-day simple moving average of $37.94. The stock has a market capitalization of $45.17 billion, a price-to-earnings ratio of 11.26, a PEG ratio of 8.68 and a beta of 1.01. Schlumberger Limited has a 1-year low of $31.11 and a 1-year high of $50.94.

Schlumberger (NYSE:SLB) last released its earnings results on Friday, April 25th. The oil and gas company reported $0.72 earnings per share for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.01). Schlumberger had a return on equity of 21.76% and a net margin of 11.62%. The firm had revenue of $8.49 billion for the quarter, compared to analyst estimates of $8.64 billion. During the same period in the prior year, the firm earned $0.75 EPS. The firm’s revenue was down 2.5% on a year-over-year basis. On average, sell-side analysts expect that Schlumberger Limited will post 3.38 earnings per share for the current year.

Schlumberger Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 10th. Investors of record on Wednesday, June 4th will be given a dividend of $0.285 per share. This represents a $1.14 dividend on an annualized basis and a yield of 3.43%. The ex-dividend date is Wednesday, June 4th. Schlumberger’s dividend payout ratio (DPR) is currently 38.64%.

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.