Schlumberger Limited $SLB Position Trimmed by Conning Inc.

Conning Inc. decreased its holdings in shares of Schlumberger Limited (NYSE:SLB) by 9.0% in the 2nd quarter, Holdings Channel reports. The firm owned 6,400 shares of the oil and gas company’s stock after selling 634 shares during the quarter. Conning Inc.’s holdings in Schlumberger were worth $216,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also modified their holdings of the business. EntryPoint Capital LLC boosted its holdings in shares of Schlumberger by 4.5% during the first quarter. EntryPoint Capital LLC now owns 7,348 shares of the oil and gas company’s stock worth $307,000 after purchasing an additional 316 shares during the period. Heritage Wealth Management Inc. Texas grew its holdings in shares of Schlumberger by 2.2% during the 1st quarter. Heritage Wealth Management Inc. Texas now owns 14,736 shares of the oil and gas company’s stock valued at $616,000 after acquiring an additional 318 shares in the last quarter. Horizon Investments LLC grew its holdings in shares of Schlumberger by 1.5% during the 1st quarter. Horizon Investments LLC now owns 22,633 shares of the oil and gas company’s stock valued at $946,000 after acquiring an additional 330 shares in the last quarter. CreativeOne Wealth LLC grew its holdings in shares of Schlumberger by 6.3% during the 1st quarter. CreativeOne Wealth LLC now owns 5,655 shares of the oil and gas company’s stock valued at $236,000 after acquiring an additional 335 shares in the last quarter. Finally, Forza Wealth Management LLC boosted its position in Schlumberger by 5.8% during the first quarter. Forza Wealth Management LLC now owns 6,374 shares of the oil and gas company’s stock valued at $266,000 after purchasing an additional 350 shares during the last quarter. Institutional investors own 81.99% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on SLB shares. Susquehanna reduced their price objective on Schlumberger from $44.00 to $42.00 and set a “positive” rating for the company in a research report on Monday, July 21st. Piper Sandler reduced their target price on shares of Schlumberger from $44.00 to $42.00 and set a “neutral” rating for the company in a research note on Friday, July 18th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Schlumberger in a research note on Wednesday, October 8th. JPMorgan Chase & Co. reduced their target price on shares of Schlumberger from $46.00 to $44.00 and set an “overweight” rating for the company in a research note on Monday, June 30th. Finally, Melius Research started coverage on shares of Schlumberger in a research note on Wednesday, August 20th. They issued a “buy” rating and a $82.00 price objective for the company. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $52.18.

Schlumberger Price Performance

Shares of Schlumberger stock opened at $31.75 on Monday. The stock has a market capitalization of $47.42 billion, a price-to-earnings ratio of 10.87, a PEG ratio of 8.82 and a beta of 0.97. The company has a current ratio of 1.31, a quick ratio of 0.98 and a debt-to-equity ratio of 0.51. Schlumberger Limited has a 1-year low of $31.11 and a 1-year high of $44.97. The firm has a fifty day simple moving average of $34.53 and a 200-day simple moving average of $34.81.

Schlumberger (NYSE:SLB) last posted its quarterly earnings data on Friday, July 18th. The oil and gas company reported $0.74 earnings per share for the quarter, topping the consensus estimate of $0.73 by $0.01. Schlumberger had a return on equity of 20.99% and a net margin of 11.53%.The business had revenue of $8.55 billion during the quarter, compared to analysts’ expectations of $8.51 billion. During the same quarter in the previous year, the firm earned $0.85 EPS. The firm’s revenue was down 6.5% compared to the same quarter last year. On average, sell-side analysts expect that Schlumberger Limited will post 3.38 earnings per share for the current year.

Schlumberger Announces Dividend

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

Insider Buying and Selling

In related news, insider Dianne B. Ralston sold 39,727 shares of the company’s stock in a transaction on Friday, September 12th. The shares were sold at an average price of $36.08, for a total transaction of $1,433,350.16. Following the completion of the transaction, the insider directly owned 202,201 shares in the company, valued at $7,295,412.08. This represents a 16.42% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.22% of the stock is currently owned by insiders.

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.