Clarity Financial LLC Sells 3,968 Shares of Schlumberger Limited $SLB

Clarity Financial LLC trimmed its holdings in Schlumberger Limited (NYSE:SLB) by 24.5% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 12,257 shares of the oil and gas company’s stock after selling 3,968 shares during the quarter. Clarity Financial LLC’s holdings in Schlumberger were worth $414,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of SLB. Brighton Jones LLC boosted its position in shares of Schlumberger by 21.4% in the fourth quarter. Brighton Jones LLC now owns 6,611 shares of the oil and gas company’s stock valued at $253,000 after acquiring an additional 1,166 shares during the period. Bison Wealth LLC bought a new position in Schlumberger in the fourth quarter worth $238,000. GAMMA Investing LLC lifted its position in Schlumberger by 5,982.4% in the first quarter. GAMMA Investing LLC now owns 905,848 shares of the oil and gas company’s stock worth $37,864,000 after purchasing an additional 890,955 shares during the period. NBC Securities Inc. lifted its position in Schlumberger by 182,500.0% in the first quarter. NBC Securities Inc. now owns 12,782 shares of the oil and gas company’s stock worth $534,000 after purchasing an additional 12,775 shares during the period. Finally, Merit Financial Group LLC lifted its position in Schlumberger by 132.3% in the first quarter. Merit Financial Group LLC now owns 34,132 shares of the oil and gas company’s stock worth $1,427,000 after purchasing an additional 19,438 shares during the period. 81.99% of the stock is owned by institutional investors.

Insider Buying and Selling at Schlumberger

In other news, insider Dianne B. Ralston sold 39,727 shares of the firm’s stock in a transaction on Friday, September 12th. The stock was sold at an average price of $36.08, for a total value of $1,433,350.16. Following the completion of the sale, the insider directly owned 202,201 shares in the company, valued at approximately $7,295,412.08. This trade represents a 16.42% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Company insiders own 0.22% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on SLB shares. Stifel Nicolaus reduced their target price on Schlumberger from $54.00 to $52.00 and set a “buy” rating for the company in a research report on Wednesday, July 16th. Barclays reduced their target price on Schlumberger from $47.00 to $46.00 and set an “overweight” rating for the company in a research report on Monday, July 21st. Piper Sandler reduced their target price on Schlumberger from $44.00 to $42.00 and set a “neutral” rating for the company in a research report on Friday, July 18th. Wells Fargo & Company cut Schlumberger from a “strong-buy” rating to a “hold” rating in a research report on Sunday, July 20th. Finally, JPMorgan Chase & Co. reduced their target price on Schlumberger from $46.00 to $44.00 and set an “overweight” rating for the company in a research report on Monday, June 30th. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $52.18.

Schlumberger Stock Up 2.0%

Shares of NYSE SLB opened at $35.07 on Thursday. The stock has a market cap of $52.38 billion, a PE ratio of 12.01, a PEG ratio of 9.54 and a beta of 0.97. The business has a fifty day moving average of $34.68 and a two-hundred day moving average of $35.28. Schlumberger Limited has a 52-week low of $31.11 and a 52-week high of $46.15. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.98 and a current ratio of 1.31.

Schlumberger (NYSE:SLB) last issued its quarterly earnings data on Friday, July 18th. The oil and gas company reported $0.74 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.73 by $0.01. The company had revenue of $8.55 billion during the quarter, compared to analysts’ expectations of $8.51 billion. Schlumberger had a return on equity of 20.99% and a net margin of 11.53%.The business’s revenue was down 6.5% on a year-over-year basis. During the same period last year, the business earned $0.85 earnings per share. As a group, equities research analysts expect that Schlumberger Limited will post 3.38 earnings per share for the current fiscal year.

Schlumberger Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 9th. Stockholders of record on Wednesday, September 3rd will be paid a $0.285 dividend. The ex-dividend date is Wednesday, September 3rd. This represents a $1.14 dividend on an annualized basis and a dividend yield of 3.3%. Schlumberger’s dividend payout ratio (DPR) is 39.04%.

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.