Wellington Shields & Co. LLC Has $264,000 Stock Holdings in Schlumberger Limited (NYSE:SLB)

Wellington Shields & Co. LLC trimmed its position in Schlumberger Limited (NYSE:SLB) by 47.7% during the second quarter, Holdings Channel reports. The firm owned 5,600 shares of the oil and gas company’s stock after selling 5,100 shares during the quarter. Wellington Shields & Co. LLC’s holdings in Schlumberger were worth $264,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Carolinas Wealth Consulting LLC lifted its position in shares of Schlumberger by 53.5% in the fourth quarter. Carolinas Wealth Consulting LLC now owns 1,960 shares of the oil and gas company’s stock valued at $102,000 after buying an additional 683 shares during the last quarter. Crescent Grove Advisors LLC acquired a new stake in Schlumberger during the 2nd quarter valued at $257,000. National Bank of Canada FI boosted its position in Schlumberger by 15.0% during the first quarter. National Bank of Canada FI now owns 396,382 shares of the oil and gas company’s stock worth $21,726,000 after purchasing an additional 51,637 shares during the period. Mission Wealth Management LP acquired a new position in shares of Schlumberger in the first quarter valued at $245,000. Finally, Canada Pension Plan Investment Board raised its position in shares of Schlumberger by 9.0% in the first quarter. Canada Pension Plan Investment Board now owns 788,484 shares of the oil and gas company’s stock valued at $43,217,000 after purchasing an additional 64,974 shares during the period. Institutional investors own 81.99% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Piper Sandler cut their price objective on shares of Schlumberger from $71.00 to $66.00 and set an “overweight” rating for the company in a research report on Monday, July 15th. Evercore ISI lifted their price target on Schlumberger from $73.00 to $74.00 and gave the stock an “outperform” rating in a report on Monday, July 22nd. Citigroup decreased their price objective on Schlumberger from $65.00 to $62.00 and set a “buy” rating on the stock in a report on Friday, June 28th. Bank of America dropped their target price on Schlumberger from $62.00 to $58.00 and set a “buy” rating for the company in a report on Monday, July 15th. Finally, Susquehanna decreased their price target on shares of Schlumberger from $77.00 to $70.00 and set a “positive” rating on the stock in a research note on Thursday, July 11th. Two investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to data from MarketBeat, Schlumberger presently has an average rating of “Moderate Buy” and an average price target of $67.00.

Insider Activity

In related news, EVP Mogharbel Khaled Al sold 120,668 shares of the business’s stock in a transaction on Monday, July 22nd. The stock was sold at an average price of $50.19, for a total transaction of $6,056,326.92. Following the sale, the executive vice president now owns 247,699 shares in the company, valued at approximately $12,432,012.81. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Vijay Kasibhatla sold 10,000 shares of the firm’s stock in a transaction on Monday, July 22nd. The shares were sold at an average price of $49.29, for a total transaction of $492,900.00. Following the completion of the transaction, the director now owns 62,354 shares of the company’s stock, valued at $3,073,428.66. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Mogharbel Khaled Al sold 120,668 shares of the business’s stock in a transaction on Monday, July 22nd. The stock was sold at an average price of $50.19, for a total transaction of $6,056,326.92. Following the completion of the sale, the executive vice president now directly owns 247,699 shares in the company, valued at approximately $12,432,012.81. The disclosure for this sale can be found here. In the last ninety days, insiders sold 180,716 shares of company stock worth $9,048,624. Insiders own 0.26% of the company’s stock.

Schlumberger Stock Performance

NYSE:SLB opened at $39.59 on Wednesday. Schlumberger Limited has a twelve month low of $39.12 and a twelve month high of $62.12. The company has a quick ratio of 1.13, a current ratio of 1.49 and a debt-to-equity ratio of 0.55. The stock’s 50-day simple moving average is $45.33 and its 200 day simple moving average is $47.82. The firm has a market capitalization of $56.21 billion, a PE ratio of 13.15, a price-to-earnings-growth ratio of 0.87 and a beta of 1.52.

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

Schlumberger Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 10th. Stockholders of record on Wednesday, September 4th will be issued 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 2.78%. Schlumberger’s dividend payout ratio (DPR) is presently 36.54%.

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.