Security National Bank of Sioux City Iowa IA Lowers Stock Position in Schlumberger Limited $SLB

Security National Bank of Sioux City Iowa IA lessened its stake in shares of Schlumberger Limited (NYSE:SLB) by 2.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 32,269 shares of the oil and gas company’s stock after selling 710 shares during the quarter. Security National Bank of Sioux City Iowa IA’s holdings in Schlumberger were worth $1,349,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Alaethes Wealth LLC lifted its position in shares of Schlumberger by 31.3% during the first quarter. Alaethes Wealth LLC now owns 32,366 shares of the oil and gas company’s stock worth $1,362,000 after purchasing an additional 7,716 shares in the last quarter. SCS Capital Management LLC acquired a new stake in shares of Schlumberger during the first quarter worth about $398,000. Palogic Value Management L.P. lifted its position in shares of Schlumberger by 9.4% during the first quarter. Palogic Value Management L.P. now owns 36,597 shares of the oil and gas company’s stock worth $1,530,000 after purchasing an additional 3,155 shares in the last quarter. Woodline Partners LP lifted its position in shares of Schlumberger by 39.6% during the first quarter. Woodline Partners LP now owns 118,351 shares of the oil and gas company’s stock worth $4,947,000 after purchasing an additional 33,545 shares in the last quarter. Finally, Empowered Funds LLC lifted its position in shares of Schlumberger by 55.3% during the first quarter. Empowered Funds LLC now owns 409,391 shares of the oil and gas company’s stock worth $17,113,000 after purchasing an additional 145,777 shares in the last quarter. Hedge funds and other institutional investors own 81.99% of the company’s stock.

Schlumberger Trading Up 0.1%

Shares of SLB stock opened at $35.80 on Wednesday. The firm has a 50-day moving average price of $34.80 and a 200 day moving average price of $35.86. Schlumberger Limited has a twelve month low of $31.11 and a twelve month high of $46.15. The company has a market capitalization of $48.37 billion, a price-to-earnings ratio of 12.26, a PEG ratio of 9.93 and a beta of 1.05. 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 (NYSE:SLB) last announced its earnings results on Friday, July 18th. The oil and gas company reported $0.74 earnings per share for the quarter, beating the consensus estimate of $0.73 by $0.01. Schlumberger had a net margin of 11.53% and a return on equity of 20.99%. The firm had revenue of $8.55 billion during the quarter, compared to the consensus estimate of $8.51 billion. During the same quarter in the previous year, the company posted $0.85 EPS. The firm’s revenue for the quarter was down 6.5% on a year-over-year basis. Research analysts forecast that Schlumberger Limited will post 3.38 earnings per share for the current fiscal year.

Schlumberger Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 9th. Stockholders of record on Wednesday, September 3rd will be paid a dividend of $0.285 per share. The ex-dividend date of this dividend is Wednesday, September 3rd. This represents a $1.14 dividend on an annualized basis and a dividend yield of 3.2%. Schlumberger’s dividend payout ratio is currently 39.04%.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the stock. Piper Sandler lowered their target price on shares of Schlumberger from $44.00 to $42.00 and set a “neutral” rating on the stock in a research report on Friday, July 18th. Wells Fargo & Company lowered shares of Schlumberger from a “strong-buy” rating to a “hold” rating in a research report on Sunday, July 20th. Stifel Nicolaus lowered their price objective on shares of Schlumberger from $54.00 to $52.00 and set a “buy” rating on the stock in a research report on Wednesday, July 16th. Melius Research assumed coverage on shares of Schlumberger in a research report on Wednesday, August 20th. They issued a “buy” rating and a $82.00 price objective on the stock. Finally, Atb Cap Markets upgraded shares of Schlumberger from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, July 1st. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, Schlumberger has an average rating of “Moderate Buy” and an average target price of $52.86.

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.