Schlumberger Limited $SLB Stock Holdings Trimmed by Parallel Advisors LLC

Parallel Advisors LLC reduced its stake in shares of Schlumberger Limited (NYSE:SLB) by 32.5% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 17,475 shares of the oil and gas company’s stock after selling 8,425 shares during the quarter. Parallel Advisors LLC’s holdings in Schlumberger were worth $591,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Charles Schwab Investment Management Inc. raised its position in shares of Schlumberger by 478.8% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 47,719,476 shares of the oil and gas company’s stock worth $1,994,674,000 after buying an additional 39,474,501 shares in the last quarter. Boston Partners raised its holdings in Schlumberger by 27.7% during the first quarter. Boston Partners now owns 19,829,381 shares of the oil and gas company’s stock worth $824,160,000 after purchasing an additional 4,300,222 shares in the last quarter. Northern Trust Corp raised its holdings in Schlumberger by 4.4% during the first quarter. Northern Trust Corp now owns 14,422,499 shares of the oil and gas company’s stock worth $602,860,000 after purchasing an additional 604,832 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in Schlumberger by 22.8% during the first quarter. Dimensional Fund Advisors LP now owns 8,989,115 shares of the oil and gas company’s stock worth $375,738,000 after purchasing an additional 1,667,203 shares in the last quarter. Finally, Invesco Ltd. raised its holdings in Schlumberger by 3.8% during the first quarter. Invesco Ltd. now owns 7,659,177 shares of the oil and gas company’s stock worth $320,154,000 after purchasing an additional 281,937 shares in the last quarter. 81.99% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. JPMorgan Chase & Co. dropped their price objective on Schlumberger from $46.00 to $44.00 and set an “overweight” rating on the stock in a research note on Monday, June 30th. Barclays dropped their price target on shares of Schlumberger from $47.00 to $46.00 and set an “overweight” rating on the stock in a research report on Monday, July 21st. Piper Sandler dropped their target price on shares of Schlumberger from $44.00 to $42.00 and set a “neutral” rating on the stock in a report on Friday, July 18th. Melius began coverage on shares of Schlumberger in a report on Wednesday, August 20th. They issued a “buy” rating and a $82.00 target price on the stock. Finally, Atb Cap Markets raised Schlumberger from a “hold” rating to a “strong-buy” rating in a report on Tuesday, July 1st. Two research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $52.18.

Schlumberger Price Performance

Shares of NYSE:SLB opened at $34.47 on Friday. Schlumberger Limited has a 1-year low of $31.11 and a 1-year high of $46.15. The company has a current ratio of 1.31, a quick ratio of 0.98 and a debt-to-equity ratio of 0.51. The business’s 50 day moving average is $34.66 and its 200-day moving average is $35.59. The firm has a market capitalization of $51.49 billion, a PE ratio of 11.80, a PEG ratio of 9.64 and a beta of 1.05.

Schlumberger (NYSE:SLB) last posted its quarterly earnings results on Friday, July 18th. The oil and gas company reported $0.74 earnings per share for the quarter, topping analysts’ consensus estimates of $0.73 by $0.01. The firm had revenue of $8.55 billion for the quarter, compared to the consensus estimate of $8.51 billion. Schlumberger had a net margin of 11.53% and a return on equity of 20.99%. The business’s revenue was down 6.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.85 earnings per share. Sell-side analysts predict that Schlumberger Limited will post 3.38 earnings per share for the current year.

Schlumberger Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 9th. Investors of record on Wednesday, September 3rd will be paid a $0.285 dividend. The ex-dividend date of this dividend is Wednesday, September 3rd. This represents a $1.14 annualized dividend and a yield of 3.3%. Schlumberger’s payout ratio is currently 39.04%.

Insider Activity at Schlumberger

In other news, insider Dianne B. Ralston sold 39,727 shares of the business’s stock in a transaction on Friday, September 12th. The shares were sold at an average price of $36.08, for a total value of $1,433,350.16. Following the sale, the insider owned 202,201 shares in the company, valued at approximately $7,295,412.08. The trade was a 16.42% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.22% 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.