Schlumberger Limited $SLB Shares Sold by Paladin Wealth LLC

Paladin Wealth LLC lessened its holdings in shares of Schlumberger Limited (NYSE:SLB) by 52.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 7,840 shares of the oil and gas company’s stock after selling 8,548 shares during the period. Paladin Wealth LLC’s holdings in Schlumberger were worth $265,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of SLB. First Command Advisory Services Inc. grew its holdings in Schlumberger by 300.0% during the first quarter. First Command Advisory Services Inc. now owns 636 shares of the oil and gas company’s stock worth $27,000 after acquiring an additional 477 shares during the period. Atlas Capital Advisors Inc. acquired a new position in Schlumberger during the first quarter worth $33,000. Thurston Springer Miller Herd & Titak Inc. grew its holdings in Schlumberger by 55.3% during the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 983 shares of the oil and gas company’s stock worth $33,000 after acquiring an additional 350 shares during the period. Alpine Bank Wealth Management acquired a new position in Schlumberger during the first quarter worth $34,000. Finally, Park Square Financial Group LLC acquired a new position in Schlumberger during the first quarter worth $38,000. Institutional investors and hedge funds own 81.99% of the company’s stock.

Analysts Set New Price Targets

Several analysts have weighed in on the company. UBS Group lowered their target price on Schlumberger from $45.00 to $44.00 and set a “buy” rating on the stock in a report on Wednesday, August 20th. Piper Sandler lowered their target price on Schlumberger from $44.00 to $42.00 and set a “neutral” rating on the stock in a report on Friday, July 18th. Melius assumed coverage on Schlumberger in a report on Wednesday, August 20th. They issued a “buy” rating and a $82.00 target price on the stock. Atb Cap Markets raised Schlumberger from a “hold” rating to a “strong-buy” rating in a report on Tuesday, July 1st. Finally, Barclays lowered their target price on Schlumberger from $47.00 to $46.00 and set an “overweight” rating on the stock in a report on Monday, July 21st. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $52.86.

Schlumberger Stock Down 1.2%

SLB opened at $35.58 on Monday. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.31 and a quick ratio of 0.98. The stock has a market capitalization of $53.14 billion, a price-to-earnings ratio of 12.18, a price-to-earnings-growth ratio of 9.87 and a beta of 1.05. The business has a 50-day moving average of $34.82 and a two-hundred day moving average of $35.72. Schlumberger Limited has a 12 month low of $31.11 and a 12 month high of $46.15.

Schlumberger (NYSE:SLB) last posted its quarterly earnings data on Friday, July 18th. The oil and gas company reported $0.74 EPS for the quarter, beating analysts’ consensus estimates of $0.73 by $0.01. Schlumberger had a net margin of 11.53% and a return on equity of 20.99%. The company had revenue of $8.55 billion during the quarter, compared to the consensus estimate of $8.51 billion. During the same quarter in the prior year, the company posted $0.85 EPS. The company’s quarterly revenue was down 6.5% compared to the same quarter last year. On average, research analysts expect that Schlumberger Limited will post 3.38 earnings per share for the current year.

Schlumberger Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 9th. Stockholders of record on Wednesday, September 3rd will be paid a dividend of $0.285 per share. The ex-dividend date of this dividend is Wednesday, September 3rd. This represents a $1.14 dividend on an annualized basis and a dividend yield of 3.2%. Schlumberger’s dividend payout ratio is currently 39.04%.

Insider Activity at Schlumberger

In other news, insider Dianne B. Ralston sold 39,727 shares of the company’s stock in a transaction dated Friday, September 12th. The shares were sold at an average price of $36.08, for a total transaction of $1,433,350.16. Following the completion of the transaction, the insider owned 202,201 shares of the company’s stock, valued at $7,295,412.08. This represents a 16.42% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.22% of the stock is currently owned by corporate insiders.

Schlumberger 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.