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Barrett Asset Management LLC Sells 66,196 Shares of Schlumberger Limited. (NYSE:SLB)

By August 21, 2019 No Comments

Barrett Asset Management LLC reduced its stake in Schlumberger Limited. (NYSE:SLB) by 29.8% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 155,987 shares of the oil and gas company’s stock after selling 66,196 shares during the quarter. Barrett Asset Management LLC’s holdings in Schlumberger were worth $6,199,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Ellis Investment Partners LLC bought a new stake in Schlumberger during the first quarter worth $26,000. Quad Cities Investment Group LLC bought a new stake in Schlumberger during the second quarter worth $32,000. Mizuho Securities Co. Ltd. bought a new stake in Schlumberger during the second quarter worth $32,000. Lenox Wealth Management Inc. lifted its stake in Schlumberger by 41.1% during the first quarter. Lenox Wealth Management Inc. now owns 879 shares of the oil and gas company’s stock worth $38,000 after purchasing an additional 256 shares during the last quarter. Finally, Meridian Wealth Management LLC bought a new stake in Schlumberger during the first quarter worth $38,000. Institutional investors and hedge funds own 77.19% of the company’s stock.

SLB has been the subject of several recent analyst reports. AltaCorp Capital restated an “outperform” rating on shares of Schlumberger in a research note on Thursday, June 20th. Raymond James reiterated a “hold” rating on shares of Schlumberger in a research note on Friday, June 21st. Morgan Stanley set a $51.00 price target on Schlumberger and gave the company a “hold” rating in a research note on Monday, April 22nd. Royal Bank of Canada dropped their price target on Schlumberger to $51.00 and set an “outperform” rating for the company in a research note on Wednesday, May 15th. Finally, JPMorgan Chase & Co. dropped their price target on Schlumberger from $42.00 to $41.00 and set a “neutral” rating for the company in a research note on Monday, July 22nd. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and twelve have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $52.17.

In related news, insider Stephanie Cox sold 24,057 shares of the stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $40.59, for a total value of $976,473.63. Following the completion of the sale, the insider now directly owns 46,354 shares in the company, valued at $1,881,508.86. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Patrick Schorn sold 12,151 shares of the stock in a transaction on Monday, July 22nd. The shares were sold at an average price of $38.93, for a total value of $473,038.43. Following the completion of the sale, the executive vice president now owns 130,000 shares of the company’s stock, valued at $5,060,900. The disclosure for this sale can be found here. Corporate insiders own 0.48% of the company’s stock.

Shares of SLB opened at $34.10 on Tuesday. The stock has a market capitalization of $43.77 billion, a price-to-earnings ratio of 21.05, a PEG ratio of 1.98 and a beta of 1.44. Schlumberger Limited. has a 52 week low of $31.11 and a 52 week high of $65.61. The stock has a fifty day moving average of $37.81 and a 200-day moving average of $40.70. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.01 and a current ratio of 1.39.

Schlumberger (NYSE:SLB) last posted its quarterly earnings data on Friday, July 19th. The oil and gas company reported $0.35 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.35. The business had revenue of $8.27 billion during the quarter, compared to the consensus estimate of $8.11 billion. Schlumberger had a return on equity of 5.62% and a net margin of 6.38%. Schlumberger’s quarterly revenue was down .4% on a year-over-year basis. During the same period in the prior year, the business posted $0.43 earnings per share. As a group, equities analysts forecast that Schlumberger Limited. will post 1.51 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 11th. Investors of record on Wednesday, September 4th will be issued a $0.50 dividend. The ex-dividend date is Tuesday, September 3rd. This represents a $2.00 dividend on an annualized basis and a yield of 5.87%. Schlumberger’s payout ratio is 123.46%.

Schlumberger Profile

Schlumberger Limited supplies technology for reservoir characterization, drilling, production, and processing to the oil and gas industry worldwide. The company’s Reservoir Characterization segment offers reservoir interpretation and data processing services; open and cased-hole, and slickline services; exploration and production pressure and flow-rate measurement services; tubing-conveyed perforating services; integrated production systems; software, consulting, information management, and IT infrastructure services; reservoir characterization, field development planning, and production enhancement consulting services; petro technical data services and training solutions; and integrated management services.

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Want to see what other hedge funds are holding SLB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Schlumberger Limited. (NYSE:SLB).

Institutional Ownership by Quarter for Schlumberger (NYSE:SLB)

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