Apollon Wealth Management LLC Sells 2,788 Shares of Schlumberger Limited $SLB

Apollon Wealth Management LLC decreased its holdings in Schlumberger Limited (NYSE:SLB) by 7.7% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 33,398 shares of the oil and gas company’s stock after selling 2,788 shares during the period. Apollon Wealth Management LLC’s holdings in Schlumberger were worth $1,129,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of SLB. Charles Schwab Investment Management Inc. grew its holdings in shares of Schlumberger by 478.8% in the first quarter. Charles Schwab Investment Management Inc. now owns 47,719,476 shares of the oil and gas company’s stock worth $1,994,674,000 after acquiring an additional 39,474,501 shares during the period. Boston Partners grew its holdings in shares of Schlumberger by 27.7% in the first quarter. Boston Partners now owns 19,829,381 shares of the oil and gas company’s stock worth $824,160,000 after acquiring an additional 4,300,222 shares during the period. Northern Trust Corp grew its holdings in shares of Schlumberger by 4.4% in the first quarter. Northern Trust Corp now owns 14,422,499 shares of the oil and gas company’s stock worth $602,860,000 after acquiring an additional 604,832 shares during the period. Dimensional Fund Advisors LP grew its holdings in shares of Schlumberger by 22.8% in the first quarter. Dimensional Fund Advisors LP now owns 8,989,115 shares of the oil and gas company’s stock worth $375,738,000 after acquiring an additional 1,667,203 shares during the period. Finally, Invesco Ltd. grew its holdings in shares of Schlumberger by 3.8% in the first quarter. Invesco Ltd. now owns 7,659,177 shares of the oil and gas company’s stock worth $320,154,000 after acquiring an additional 281,937 shares during the period. Institutional investors own 81.99% of the company’s stock.

Schlumberger Stock Performance

NYSE SLB opened at $32.55 on Wednesday. The firm has a market cap of $48.62 billion, a price-to-earnings ratio of 11.15, a price-to-earnings-growth ratio of 8.97 and a beta of 0.97. The company has a quick ratio of 0.98, a current ratio of 1.31 and a debt-to-equity ratio of 0.51. The business has a 50-day moving average price of $34.50 and a 200-day moving average price of $34.73. Schlumberger Limited has a twelve month low of $31.11 and a twelve month high of $44.97.

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

Schlumberger Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, October 9th. Investors of record on Wednesday, September 3rd were given a $0.285 dividend. This represents a $1.14 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date was Wednesday, September 3rd. Schlumberger’s payout ratio is currently 39.04%.

Analyst Ratings Changes

Several analysts recently commented on the company. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Schlumberger in a report on Wednesday, October 8th. Melius assumed coverage on Schlumberger in a research note on Wednesday, August 20th. They set a “buy” rating and a $82.00 price objective for the company. Jefferies Financial Group cut their price objective on Schlumberger from $54.00 to $53.00 and set a “buy” rating for the company in a research note on Thursday, June 26th. Piper Sandler cut their price objective on Schlumberger from $44.00 to $42.00 and set a “neutral” rating for the company in a research note on Friday, July 18th. Finally, Barclays cut their price objective on Schlumberger from $47.00 to $46.00 and set an “overweight” rating for the company in a research note on Monday, July 21st. Two investment analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $52.06.

Insider Activity at Schlumberger

In related news, insider Dianne B. Ralston sold 39,727 shares of the business’s stock in a transaction dated 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 sale, the insider directly owned 202,201 shares in the company, valued at approximately $7,295,412.08. The trade was a 16.42% 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. Corporate insiders own 0.22% of the company’s stock.

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.