Lmcg Investments LLC Has $4.97 Million Stock Position in Schlumberger Limited $SLB

Lmcg Investments LLC lowered its position in shares of Schlumberger Limited (NYSE:SLB) by 31.0% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 147,120 shares of the oil and gas company’s stock after selling 66,011 shares during the quarter. Lmcg Investments LLC’s holdings in Schlumberger were worth $4,973,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Charles Schwab Investment Management Inc. lifted its holdings in shares of Schlumberger by 478.8% during 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 buying an additional 39,474,501 shares in the last quarter. Boston Partners raised its stake in Schlumberger by 27.7% in the first quarter. Boston Partners now owns 19,829,381 shares of the oil and gas company’s stock valued at $824,160,000 after purchasing an additional 4,300,222 shares in the last quarter. Northern Trust Corp raised its stake in 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 valued at $602,860,000 after purchasing an additional 604,832 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in 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 valued at $375,738,000 after purchasing an additional 1,667,203 shares in the last quarter. Finally, Invesco Ltd. raised its stake in Schlumberger by 3.8% in the first quarter. Invesco Ltd. now owns 7,659,177 shares of the oil and gas company’s stock valued at $320,154,000 after purchasing an additional 281,937 shares in the last quarter. Institutional investors and hedge funds own 81.99% of the company’s stock.

Insider Activity

In other news, insider Dianne B. Ralston sold 39,727 shares of the company’s stock in a transaction that occurred 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 transaction, the insider owned 202,201 shares of the company’s stock, valued at $7,295,412.08. This represents a 16.42% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 0.22% of the stock is owned by corporate insiders.

Schlumberger Stock Down 4.2%

Shares of NYSE SLB opened at $31.75 on Friday. The company has a current ratio of 1.31, a quick ratio of 0.98 and a debt-to-equity ratio of 0.51. The company has a market cap of $47.42 billion, a price-to-earnings ratio of 10.87, a PEG ratio of 9.21 and a beta of 0.97. Schlumberger Limited has a 12 month low of $31.11 and a 12 month high of $44.97. The stock has a 50-day moving average price of $34.53 and a two-hundred day moving average price of $34.91.

Schlumberger (NYSE:SLB) last issued its earnings results on Friday, July 18th. The oil and gas company reported $0.74 EPS for the quarter, topping the consensus estimate of $0.73 by $0.01. The firm had revenue of $8.55 billion during the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.85 earnings per share. As a group, analysts forecast that Schlumberger Limited will post 3.38 earnings per share for the current fiscal year.

Schlumberger Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 9th. Stockholders of record on Wednesday, September 3rd were paid a $0.285 dividend. The ex-dividend date of this dividend was Wednesday, September 3rd. This represents a $1.14 annualized dividend and a dividend yield of 3.6%. Schlumberger’s dividend payout ratio is currently 39.04%.

Analyst Upgrades and Downgrades

A number of research firms recently commented on SLB. JPMorgan Chase & Co. dropped their price target on Schlumberger from $46.00 to $44.00 and set an “overweight” rating for the company in a research note on Monday, June 30th. Melius Research began coverage on Schlumberger in a research note on Wednesday, August 20th. They issued a “buy” rating and a $82.00 price target for the company. UBS Group dropped their price target on Schlumberger from $45.00 to $44.00 and set a “buy” rating for the company in a research note on Wednesday, August 20th. Piper Sandler dropped their price target 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, Jefferies Financial Group dropped their price target on Schlumberger from $54.00 to $53.00 and set a “buy” rating for the company in a research note on Thursday, June 26th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $52.18.

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.