Industry News

Schlumberger Limited. (NYSE:SLB) Shares Sold by Eads & Heald Wealth Management

By August 19, 2019 No Comments

Eads & Heald Wealth Management lessened its stake in shares of Schlumberger Limited. (NYSE:SLB) by 45.4% in the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 10,542 shares of the oil and gas company’s stock after selling 8,765 shares during the period. Eads & Heald Wealth Management’s holdings in Schlumberger were worth $419,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Clearbridge Investments LLC boosted its position in shares of Schlumberger by 9.7% in the first quarter. Clearbridge Investments LLC now owns 13,660,190 shares of the oil and gas company’s stock valued at $595,174,000 after acquiring an additional 1,203,997 shares during the period. Geode Capital Management LLC boosted its position in shares of Schlumberger by 7.3% in the fourth quarter. Geode Capital Management LLC now owns 16,487,841 shares of the oil and gas company’s stock valued at $593,754,000 after acquiring an additional 1,125,484 shares during the period. Smead Capital Management Inc. bought a new position in shares of Schlumberger in the second quarter valued at approximately $38,425,000. Parametric Portfolio Associates LLC boosted its position in shares of Schlumberger by 26.0% in the first quarter. Parametric Portfolio Associates LLC now owns 3,786,185 shares of the oil and gas company’s stock valued at $164,964,000 after acquiring an additional 781,979 shares during the period. Finally, Fisher Asset Management LLC boosted its position in shares of Schlumberger by 6.4% in the second quarter. Fisher Asset Management LLC now owns 11,816,154 shares of the oil and gas company’s stock valued at $469,574,000 after acquiring an additional 709,200 shares during the period. Hedge funds and other institutional investors own 77.22% of the company’s stock.

In other news, insider Stephanie Cox sold 24,057 shares of the stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $40.59, for a total transaction of $976,473.63. Following the completion of the transaction, the insider now directly owns 46,354 shares in the company, valued at approximately $1,881,508.86. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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 sale, the executive vice president now owns 130,000 shares in the company, valued at approximately $5,060,900. The disclosure for this sale can be found here. Insiders own 0.48% of the company’s stock.

SLB has been the subject of a number of analyst reports. Raymond James restated a “hold” rating on shares of Schlumberger in a research report on Friday, June 21st. BMO Capital Markets set a $44.00 target price on shares of Schlumberger and gave the company a “hold” rating in a research note on Monday, April 22nd. Gabelli initiated coverage on shares of Schlumberger in a research note on Thursday, June 27th. They issued a “buy” rating and a $55.00 target price on the stock. Piper Jaffray Companies set a $40.00 target price on shares of Schlumberger and gave the company a “buy” rating in a research note on Monday, July 1st. Finally, SunTrust Banks lifted their price target on shares of Schlumberger to $53.00 and gave the stock a “buy” rating in a research note on Tuesday, April 23rd. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and twelve have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $52.17.

NYSE:SLB traded up $1.07 during trading hours on Friday, hitting $32.72. The company had a trading volume of 13,454,900 shares, compared to its average volume of 10,665,050. The company has a market capitalization of $43.77 billion, a PE ratio of 20.20, a price-to-earnings-growth ratio of 1.98 and a beta of 1.44. The stock has a 50-day moving average price of $38.21 and a 200 day moving average price of $40.81. Schlumberger Limited. has a 52 week low of $31.11 and a 52 week high of $65.61. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.39 and a quick ratio of 1.01.

Schlumberger (NYSE:SLB) last released its quarterly earnings results on Friday, July 19th. The oil and gas company reported $0.35 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.35. The firm had revenue of $8.27 billion during the quarter, compared to analyst estimates of $8.11 billion. Schlumberger had a net margin of 6.38% and a return on equity of 5.62%. The business’s revenue for the quarter was down .4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.43 EPS. Analysts anticipate that Schlumberger Limited. will post 1.51 EPS for the current fiscal 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 paid a dividend of $0.50 per share. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $2.00 dividend on an annualized basis and a dividend yield of 6.11%. Schlumberger’s dividend payout ratio (DPR) is presently 123.46%.

Schlumberger Company 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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Institutional Ownership by Quarter for Schlumberger (NYSE:SLB)

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