SVB Wealth LLC Has $8.03 Million Stock Position in Schlumberger Limited (NYSE:SLB)

SVB Wealth LLC trimmed its holdings in shares of Schlumberger Limited (NYSE:SLB) by 3.9% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 146,417 shares of the oil and gas company’s stock after selling 5,885 shares during the period. SVB Wealth LLC’s holdings in Schlumberger were worth $8,025,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Pacer Advisors Inc. boosted its stake in shares of Schlumberger by 30.0% during the 4th quarter. Pacer Advisors Inc. now owns 118,132 shares of the oil and gas company’s stock worth $6,148,000 after acquiring an additional 27,232 shares in the last quarter. Procyon Advisors LLC boosted its stake in shares of Schlumberger by 40.2% during the 4th quarter. Procyon Advisors LLC now owns 4,961 shares of the oil and gas company’s stock worth $258,000 after acquiring an additional 1,423 shares in the last quarter. McGlone Suttner Wealth Management Inc. bought a new stake in shares of Schlumberger during the 4th quarter worth about $55,000. Blue Trust Inc. lifted its position in shares of Schlumberger by 3.2% during the 4th quarter. Blue Trust Inc. now owns 12,785 shares of the oil and gas company’s stock worth $665,000 after purchasing an additional 392 shares during the last quarter. Finally, Global Retirement Partners LLC grew its holdings in Schlumberger by 8.2% in the 4th quarter. Global Retirement Partners LLC now owns 3,855 shares of the oil and gas company’s stock valued at $186,000 after buying an additional 292 shares during the last quarter. 81.99% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

SLB has been the topic of a number of research reports. BMO Capital Markets dropped their target price on shares of Schlumberger from $66.00 to $64.00 and set an “outperform” rating on the stock in a research report on Monday, April 22nd. Evercore ISI boosted their price target on shares of Schlumberger from $73.00 to $74.00 and gave the company an “outperform” rating in a report on Monday, July 22nd. Benchmark reissued a “buy” rating and issued a $68.00 price target on shares of Schlumberger in a report on Monday, July 22nd. Royal Bank of Canada reissued an “outperform” rating and issued a $69.00 price target on shares of Schlumberger in a report on Monday, July 22nd. Finally, Susquehanna lowered their price target on shares of Schlumberger from $77.00 to $70.00 and set a “positive” rating on the stock in a report on Thursday, July 11th. Two research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $67.56.

Schlumberger Stock Down 2.0 %

NYSE SLB traded down $0.97 during trading hours on Monday, reaching $47.86. 9,104,342 shares of the company’s stock were exchanged, compared to its average volume of 11,059,771. The company’s 50-day moving average is $46.32 and its two-hundred day moving average is $48.98. Schlumberger Limited has a one year low of $42.61 and a one year high of $62.12. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.13 and a current ratio of 1.49. The company has a market capitalization of $67.95 billion, a price-to-earnings ratio of 16.22, a price-to-earnings-growth ratio of 1.04 and a beta of 1.55.

Schlumberger (NYSE:SLB) last posted its earnings results on Friday, July 19th. The oil and gas company reported $0.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.83 by $0.02. The business had revenue of $9.14 billion during the quarter, compared to analysts’ expectations of $9.08 billion. Schlumberger had a return on equity of 21.92% and a net margin of 12.56%. Schlumberger’s revenue for the quarter was up 12.8% compared to the same quarter last year. During the same period in the prior year, the business earned $0.72 EPS. On average, analysts forecast that Schlumberger Limited will post 3.5 EPS for the current fiscal year.

Schlumberger Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 10th. Stockholders of record on Wednesday, September 4th will be paid a dividend of $0.275 per share. The ex-dividend date of this dividend is Wednesday, September 4th. This represents a $1.10 annualized dividend and a dividend yield of 2.30%. Schlumberger’s dividend payout ratio is currently 36.54%.

Insider Transactions at Schlumberger

In other news, CTO Demosthenis Pafitis sold 63,095 shares of the firm’s stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of $48.26, for a total transaction of $3,044,964.70. Following the completion of the transaction, the chief technology officer now directly owns 33,421 shares of the company’s stock, valued at approximately $1,612,897.46. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, insider Bejar Carmen Rando sold 4,980 shares of the stock in a transaction that occurred 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 completion of the sale, the insider now owns 22,518 shares of the company’s stock, valued at approximately $977,956.74. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CTO Demosthenis Pafitis sold 63,095 shares of the stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of $48.26, for a total value of $3,044,964.70. Following the completion of the sale, the chief technology officer now directly owns 33,421 shares of the company’s stock, valued at approximately $1,612,897.46. The disclosure for this sale can be found here. Insiders sold 286,874 shares of company stock valued at $14,148,517 in the last ninety days. 0.26% of the stock is currently owned by corporate insiders.

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.