Schlumberger Limited (NYSE:SLB) Shares Sold by Cullen Investment Group LTD.

Cullen Investment Group LTD. decreased its position in Schlumberger Limited (NYSE:SLB) by 4.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 10,091 shares of the oil and gas company’s stock after selling 484 shares during the quarter. Cullen Investment Group LTD.’s holdings in Schlumberger were worth $476,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of SLB. Capital World Investors lifted its holdings in shares of Schlumberger by 72.3% during the first quarter. Capital World Investors now owns 88,950,956 shares of the oil and gas company’s stock valued at $4,875,402,000 after purchasing an additional 37,333,485 shares during the last quarter. Norges Bank purchased a new stake in shares of Schlumberger during the fourth quarter valued at $1,000,292,000. Price T Rowe Associates Inc. MD lifted its holdings in shares of Schlumberger by 14.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 85,986,039 shares of the oil and gas company’s stock valued at $4,712,897,000 after purchasing an additional 10,606,191 shares during the last quarter. Winslow Capital Management LLC lifted its holdings in shares of Schlumberger by 123,063.5% during the fourth quarter. Winslow Capital Management LLC now owns 4,347,671 shares of the oil and gas company’s stock valued at $226,253,000 after purchasing an additional 4,344,141 shares during the last quarter. Finally, Boston Partners lifted its holdings in shares of Schlumberger by 35.8% during the first quarter. Boston Partners now owns 11,640,827 shares of the oil and gas company’s stock valued at $635,883,000 after purchasing an additional 3,069,395 shares during the last quarter. Institutional investors and hedge funds own 81.99% of the company’s stock.

Schlumberger Stock Down 3.7 %

Shares of NYSE SLB traded down $1.73 during mid-day trading on Friday, reaching $44.93. 11,848,368 shares of the company traded hands, compared to its average volume of 9,014,375. 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 stock has a market cap of $63.79 billion, a PE ratio of 14.93, a price-to-earnings-growth ratio of 0.99 and a beta of 1.55. The company’s fifty day moving average is $46.31 and its two-hundred day moving average is $48.91. Schlumberger Limited has a fifty-two week low of $42.61 and a fifty-two week high of $62.12.

Schlumberger (NYSE:SLB) last announced its earnings results on Friday, July 19th. The oil and gas company reported $0.85 earnings per share for the quarter, beating the consensus estimate of $0.83 by $0.02. Schlumberger had a return on equity of 21.92% and a net margin of 12.56%. The firm had revenue of $9.14 billion during the quarter, compared to the consensus estimate of $9.08 billion. During the same quarter in the prior year, the company earned $0.72 EPS. The firm’s revenue for the quarter was up 12.8% compared to the same quarter last year. On average, analysts expect that Schlumberger Limited will post 3.49 earnings per share for the current year.

Schlumberger Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 10th. Investors of record on Wednesday, September 4th will be paid a dividend of $0.275 per share. The ex-dividend date is Wednesday, September 4th. This represents a $1.10 annualized dividend and a yield of 2.45%. Schlumberger’s payout ratio is 36.54%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. Piper Sandler reduced their target price on Schlumberger from $71.00 to $66.00 and set an “overweight” rating for the company in a report on Monday, July 15th. Citigroup reduced their target price on Schlumberger from $65.00 to $62.00 and set a “buy” rating for the company in a report on Friday, June 28th. BMO Capital Markets reduced their price objective on Schlumberger from $66.00 to $64.00 and set an “outperform” rating for the company in a research note on Monday, April 22nd. Evercore ISI increased their price objective on Schlumberger from $73.00 to $74.00 and gave the stock an “outperform” rating in a research note on Monday, July 22nd. Finally, StockNews.com downgraded Schlumberger from a “buy” rating to a “hold” rating in a research note on Thursday, June 6th. Two equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $67.56.

Insider Activity at Schlumberger

In other Schlumberger news, CTO Demosthenis Pafitis sold 63,095 shares of the firm’s stock in a transaction that occurred on Tuesday, May 14th. The stock was 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 owns 33,421 shares in the company, valued at approximately $1,612,897.46. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Schlumberger news, CTO Demosthenis Pafitis sold 63,095 shares of the firm’s stock in a transaction that occurred on Tuesday, May 14th. The stock was 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 owns 33,421 shares in the company, valued at approximately $1,612,897.46. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Stephane Biguet sold 50,048 shares of the firm’s stock in a transaction that occurred on Monday, July 22nd. The stock was sold at an average price of $49.94, for a total value of $2,499,397.12. Following the completion of the sale, the chief financial officer now owns 203,076 shares of the company’s stock, valued at approximately $10,141,615.44. The disclosure for this sale can be found here. Insiders sold a total of 286,874 shares of company stock worth $14,148,517 in the last 90 days. 0.26% of the stock is owned by company 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.