SVA Wealth Management LLC Cuts Position in Schlumberger Limited. (NYSE:SLB)

SVA Wealth Management LLC cut its stake in Schlumberger Limited. (NYSE:SLB) by 7.0% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 40,681 shares of the oil and gas company’s stock after selling 3,040 shares during the period. SVA Wealth Management LLC’s holdings in Schlumberger were worth $1,617,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Quad Cities Investment Group LLC bought a new position in shares of Schlumberger during the second quarter valued at about $32,000. Mizuho Securities Co. Ltd. bought a new position in Schlumberger in the second quarter worth about $32,000. Meridian Wealth Management LLC bought a new position in Schlumberger in the first quarter worth about $38,000. Lenox Wealth Management Inc. raised its stake in Schlumberger by 41.1% in the first quarter. Lenox Wealth Management Inc. now owns 879 shares of the oil and gas company’s stock worth $38,000 after buying an additional 256 shares in the last quarter. Finally, Acima Private Wealth LLC raised its stake in Schlumberger by 141.9% in the first quarter. Acima Private Wealth LLC now owns 924 shares of the oil and gas company’s stock worth $40,000 after buying an additional 542 shares in the last quarter. Institutional investors own 76.67% of the company’s stock.

Shares of SLB stock traded up $2.17 on Monday, hitting $39.50. 15,109,297 shares of the stock traded hands, compared to its average volume of 11,330,121. The firm has a market cap of $51.03 billion, a price-to-earnings ratio of 24.38, a PEG ratio of 2.60 and a beta of 1.49. Schlumberger Limited. has a 52 week low of $31.03 and a 52 week high of $63.65. The firm has a 50 day simple moving average of $34.88 and a two-hundred day simple moving average of $39.40. 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 announced its quarterly earnings data 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 for the quarter, compared to the consensus estimate of $8.11 billion. Schlumberger had a net margin of 6.38% and a return on equity of 5.62%. The company’s revenue was down .4% on a year-over-year basis. During the same period last year, the firm earned $0.43 EPS. Sell-side analysts forecast that Schlumberger Limited. will post 1.5 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 11th. Stockholders of record on Wednesday, September 4th will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $2.00 annualized dividend and a dividend yield of 5.06%. Schlumberger’s payout ratio is 123.46%.

A number of equities analysts recently issued reports on the stock. JPMorgan Chase & Co. decreased their price target on shares of Schlumberger from $41.00 to $34.00 and set a “neutral” rating for the company in a research note on Monday, September 9th. Stifel Nicolaus raised shares of Schlumberger from a “hold” rating to a “buy” rating and set a $50.00 price target for the company in a research note on Friday, June 7th. Gabelli assumed coverage on shares of Schlumberger in a research note on Thursday, June 27th. They issued a “buy” rating and a $55.00 price target for the company. Morgan Stanley raised shares of Schlumberger from an “equal weight” rating to an “overweight” rating and set a $51.00 price target for the company in a research note on Tuesday, September 10th. Finally, Barclays raised shares of Schlumberger from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $45.00 to $50.00 in a research note on Monday. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and fifteen have given a buy rating to the company. Schlumberger presently has a consensus rating of “Buy” and an average price target of $51.11.

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

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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