Schlumberger Limited (NYSE:SLB) Holdings Trimmed by Avity Investment Management Inc.

Avity Investment Management Inc. lowered its position in shares of Schlumberger Limited (NYSE:SLB) by 23.0% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 7,349 shares of the oil and gas company’s stock after selling 2,200 shares during the quarter. Avity Investment Management Inc.’s holdings in Schlumberger were worth $403,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the company. O Shaughnessy Asset Management LLC boosted its position in shares of Schlumberger by 25.2% in the 3rd quarter. O Shaughnessy Asset Management LLC now owns 98,762 shares of the oil and gas company’s stock valued at $5,758,000 after purchasing an additional 19,909 shares during the period. Mutual Advisors LLC acquired a new position in shares of Schlumberger in the 3rd quarter valued at $273,000. Synovus Financial Corp boosted its position in shares of Schlumberger by 1.5% in the 3rd quarter. Synovus Financial Corp now owns 74,336 shares of the oil and gas company’s stock valued at $4,334,000 after purchasing an additional 1,067 shares during the period. Tower Research Capital LLC TRC boosted its position in shares of Schlumberger by 5.8% in the 3rd quarter. Tower Research Capital LLC TRC now owns 65,930 shares of the oil and gas company’s stock valued at $3,844,000 after purchasing an additional 3,602 shares during the period. Finally, Itau Unibanco Holding S.A. acquired a new position in shares of Schlumberger in the 3rd quarter valued at $370,000. Institutional investors own 81.99% of the company’s stock.

Schlumberger Stock Performance

Shares of SLB traded up $0.17 on Friday, reaching $47.18. 14,139,873 shares of the stock traded hands, compared to its average volume of 14,274,646. The firm has a market cap of $67.44 billion, a price-to-earnings ratio of 15.67, a P/E/G ratio of 0.90 and a beta of 1.57. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.37 and a quick ratio of 1.02. Schlumberger Limited has a 12 month low of $42.61 and a 12 month high of $62.12. The stock’s 50-day moving average price is $46.69 and its 200-day moving average price is $49.60.

Schlumberger (NYSE:SLB) last announced its quarterly earnings results on Friday, April 19th. The oil and gas company reported $0.75 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.75. Schlumberger had a return on equity of 21.88% and a net margin of 12.72%. The firm had revenue of $8.71 billion for the quarter, compared to analysts’ expectations of $8.70 billion. During the same period in the prior year, the business posted $0.63 earnings per share. The business’s revenue was up 12.6% compared to the same quarter last year. Equities analysts forecast that Schlumberger Limited will post 3.51 EPS for the current fiscal year.

Schlumberger Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 11th. Shareholders of record on Wednesday, June 5th will be given a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a yield of 2.33%. This is a boost from Schlumberger’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend is Wednesday, June 5th. Schlumberger’s dividend payout ratio is 36.54%.

Insider Buying and Selling at Schlumberger

In other Schlumberger news, insider Bejar Carmen Rando sold 4,980 shares of the company’s stock in a transaction on Friday, June 7th. The stock was sold at an average price of $43.43, for a total value of $216,281.40. Following the sale, the insider now directly owns 22,518 shares in the company, valued at $977,956.74. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Schlumberger news, insider Bejar Carmen Rando sold 4,980 shares of the business’s stock in a transaction on Friday, June 7th. The stock was sold at an average price of $43.43, for a total value of $216,281.40. Following the transaction, the insider now owns 22,518 shares of the company’s stock, valued at $977,956.74. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Gavin Rennick sold 38,083 shares of the business’s stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of $48.28, for a total value of $1,838,647.24. Following the completion of the transaction, the insider now directly owns 45,851 shares in the company, valued at approximately $2,213,686.28. The disclosure for this sale can be found here. Insiders have sold 106,158 shares of company stock worth $5,099,893 over the last three months. Company insiders own 0.26% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on SLB shares. Bank of America reduced their price objective on Schlumberger from $63.00 to $62.00 and set a “buy” rating for the company in a research note on Monday, April 22nd. TD Cowen cut their price objective on Schlumberger from $64.00 to $63.00 and set a “buy” rating on the stock in a research note on Monday, April 22nd. Wells Fargo & Company downgraded Schlumberger from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from $68.00 to $53.00 in a research note on Monday, April 29th. BMO Capital Markets cut their price objective on Schlumberger from $66.00 to $64.00 and set an “outperform” rating on the stock in a research note on Monday, April 22nd. Finally, HSBC reissued a “buy” rating and issued a $71.00 price objective on shares of Schlumberger in a research note on Thursday, April 4th. Two equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $68.59.

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.