Schlumberger Limited (NYSE:SLB) Shares Sold by 180 Wealth Advisors LLC

180 Wealth Advisors LLC cut its holdings in Schlumberger Limited (NYSE:SLB) by 7.2% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 29,827 shares of the oil and gas company’s stock after selling 2,306 shares during the quarter. 180 Wealth Advisors LLC’s holdings in Schlumberger were worth $1,635,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in SLB. Viking Fund Management LLC acquired a new stake in shares of Schlumberger in the first quarter valued at about $1,644,000. Wealthcare Advisory Partners LLC increased its position in shares of Schlumberger by 15.4% during the first quarter. Wealthcare Advisory Partners LLC now owns 7,242 shares of the oil and gas company’s stock worth $397,000 after purchasing an additional 965 shares in the last quarter. Brookstone Capital Management acquired a new position in Schlumberger in the 1st quarter valued at $1,758,000. Sunbelt Securities Inc. raised its stake in Schlumberger by 2.2% in the 1st quarter. Sunbelt Securities Inc. now owns 10,551 shares of the oil and gas company’s stock valued at $578,000 after purchasing an additional 230 shares during the last quarter. Finally, Kingswood Wealth Advisors LLC boosted its stake in Schlumberger by 5.6% during the 1st quarter. Kingswood Wealth Advisors LLC now owns 13,944 shares of the oil and gas company’s stock worth $764,000 after purchasing an additional 745 shares during the last quarter. Hedge funds and other institutional investors own 81.99% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on SLB shares. StockNews.com downgraded shares of Schlumberger from a “buy” rating to a “hold” rating in a report on Thursday, June 6th. Barclays lowered their price objective on Schlumberger from $74.00 to $70.00 and set an “overweight” rating on the stock in a research note on Thursday, April 4th. TD Cowen cut their target price on Schlumberger from $64.00 to $63.00 and set a “buy” rating for the company in a research note on Monday, April 22nd. Benchmark reissued a “buy” rating and set a $68.00 price target on shares of Schlumberger in a research report on Tuesday. Finally, Susquehanna reaffirmed a “positive” rating and set a $77.00 target price on shares of Schlumberger in a research note on Monday, April 22nd. Two analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Schlumberger has an average rating of “Moderate Buy” and a consensus price target of $69.06.

Schlumberger Stock Up 0.4 %

NYSE SLB traded up $0.18 on Friday, hitting $47.19. 2,206,700 shares of the stock were exchanged, compared to its average volume of 11,312,685. Schlumberger Limited has a fifty-two week low of $42.61 and a fifty-two week high of $62.12. The company has a 50-day moving average price of $46.82 and a 200-day moving average price of $49.63. The company has a market cap of $67.45 billion, a PE ratio of 15.70, a PEG ratio of 0.89 and a beta of 1.57. The company has a quick ratio of 1.02, a current ratio of 1.37 and a debt-to-equity ratio of 0.49.

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

Schlumberger Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 11th. Investors 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 dividend yield of 2.33%. This is an increase from Schlumberger’s previous quarterly dividend of $0.25. The ex-dividend date is Wednesday, June 5th. Schlumberger’s dividend payout ratio (DPR) is 36.54%.

Insider Activity at Schlumberger

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

Schlumberger Company 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.