HB Wealth Management LLC Trims Position in Schlumberger Limited $SLB

HB Wealth Management LLC lessened its stake in shares of Schlumberger Limited (NYSE:SLB) by 44.3% in the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 20,839 shares of the oil and gas company’s stock after selling 16,587 shares during the period. HB Wealth Management LLC’s holdings in Schlumberger were worth $704,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the stock. GC Wealth Management RIA LLC bought a new stake in Schlumberger during the second quarter valued at about $280,000. Washington Capital Management Inc. boosted its stake in Schlumberger by 22.4% during the second quarter. Washington Capital Management Inc. now owns 37,185 shares of the oil and gas company’s stock valued at $1,257,000 after buying an additional 6,800 shares during the last quarter. Beacon Capital Management LLC boosted its stake in Schlumberger by 1,062.3% during the second quarter. Beacon Capital Management LLC now owns 3,394 shares of the oil and gas company’s stock valued at $115,000 after buying an additional 3,102 shares during the last quarter. Stockman Wealth Management Inc. boosted its stake in Schlumberger by 14.0% during the second quarter. Stockman Wealth Management Inc. now owns 263,251 shares of the oil and gas company’s stock valued at $8,898,000 after buying an additional 32,314 shares during the last quarter. Finally, Worth Financial Advisory Group LLC boosted its stake in Schlumberger by 74.4% during the second quarter. Worth Financial Advisory Group LLC now owns 10,387 shares of the oil and gas company’s stock valued at $351,000 after buying an additional 4,430 shares during the last quarter. Institutional investors own 81.99% of the company’s stock.

Schlumberger Stock Up 0.4%

Shares of NYSE SLB opened at $34.26 on Friday. 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 stock has a market capitalization of $51.17 billion, a PE ratio of 11.73, a price-to-earnings-growth ratio of 9.51 and a beta of 0.97. The stock’s fifty day simple moving average is $34.63 and its two-hundred day simple moving average is $35.15. Schlumberger Limited has a 12-month low of $31.11 and a 12-month high of $46.15.

Schlumberger (NYSE:SLB) last announced its earnings results on Friday, July 18th. The oil and gas company reported $0.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.73 by $0.01. The business had revenue of $8.55 billion for the quarter, compared to analysts’ expectations of $8.51 billion. Schlumberger had a return on equity of 20.99% and a net margin of 11.53%.The business’s revenue for the quarter was down 6.5% on a year-over-year basis. During the same quarter last year, the firm earned $0.85 EPS. As a group, analysts expect that Schlumberger Limited will post 3.38 EPS for the current fiscal year.

Schlumberger Announces Dividend

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

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on SLB shares. Jefferies Financial Group decreased their price objective on Schlumberger from $54.00 to $53.00 and set a “buy” rating on the stock in a research report on Thursday, June 26th. Melius Research started coverage on Schlumberger in a research report on Wednesday, August 20th. They set a “buy” rating and a $82.00 price objective on the stock. Piper Sandler decreased their price objective on Schlumberger from $44.00 to $42.00 and set a “neutral” rating on the stock in a research report on Friday, July 18th. Stifel Nicolaus decreased their price objective on Schlumberger from $54.00 to $52.00 and set a “buy” rating on the stock in a research report on Wednesday, July 16th. Finally, Susquehanna decreased their price objective on Schlumberger from $44.00 to $42.00 and set a “positive” rating on the stock in a research report on Monday, July 21st. Two research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat.com, Schlumberger presently has a consensus rating of “Moderate Buy” and an average price target of $52.18.

Insider Transactions at Schlumberger

In other Schlumberger news, insider Dianne B. Ralston sold 39,727 shares of the stock in a transaction on Friday, September 12th. The stock was sold at an average price of $36.08, for a total transaction of $1,433,350.16. Following the sale, the insider owned 202,201 shares of the company’s stock, valued at approximately $7,295,412.08. This trade represents a 16.42% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company 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.