Tritonpoint Wealth LLC Has $489,000 Stake in Schlumberger Limited $SLB

Tritonpoint Wealth LLC trimmed its position in shares of Schlumberger Limited (NYSE:SLB) by 29.4% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 14,314 shares of the oil and gas company’s stock after selling 5,968 shares during the period. Tritonpoint Wealth LLC’s holdings in Schlumberger were worth $489,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Nuveen LLC acquired a new position in Schlumberger during the first quarter worth $169,232,000. Scharf Investments LLC increased its holdings in Schlumberger by 20.5% during the first quarter. Scharf Investments LLC now owns 1,653,895 shares of the oil and gas company’s stock worth $69,133,000 after buying an additional 281,773 shares during the last quarter. Integrated Advisors Network LLC increased its holdings in Schlumberger by 810.4% during the first quarter. Integrated Advisors Network LLC now owns 75,163 shares of the oil and gas company’s stock worth $3,142,000 after buying an additional 66,907 shares during the last quarter. Alan B Lancz & Associates Inc. acquired a new position in Schlumberger during the first quarter worth $308,000. Finally, Stratos Investment Management LLC increased its holdings in Schlumberger by 236.0% during the first quarter. Stratos Investment Management LLC now owns 146,908 shares of the oil and gas company’s stock worth $6,141,000 after buying an additional 103,182 shares during the last quarter. 81.99% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related 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 sale, 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.22% of the stock is owned by corporate insiders.

Schlumberger Trading Up 2.7%

SLB stock opened at $35.51 on Monday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.98 and a current ratio of 1.31. The company’s 50-day simple moving average is $34.65 and its 200 day simple moving average is $35.33. Schlumberger Limited has a 52 week low of $31.11 and a 52 week high of $46.15. The company has a market capitalization of $53.04 billion, a PE ratio of 12.16, a price-to-earnings-growth ratio of 9.86 and a beta of 1.05.

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

Schlumberger Announces Dividend

The firm 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 is Wednesday, September 3rd. This represents a $1.14 annualized dividend and a dividend yield of 3.2%. Schlumberger’s dividend payout ratio is 39.04%.

Analyst Ratings Changes

SLB has been the topic of several research reports. Susquehanna decreased their price objective on shares of Schlumberger from $44.00 to $42.00 and set a “positive” rating on the stock in a report on Monday, July 21st. Melius Research initiated coverage on shares of Schlumberger in a report on Wednesday, August 20th. They issued a “buy” rating and a $82.00 price objective on the stock. UBS Group decreased their price objective on shares of Schlumberger from $45.00 to $44.00 and set a “buy” rating on the stock in a report on Wednesday, August 20th. JPMorgan Chase & Co. decreased their price objective on shares of Schlumberger from $46.00 to $44.00 and set an “overweight” rating on the stock in a report on Monday, June 30th. Finally, Atb Cap Markets upgraded shares of Schlumberger from a “hold” rating to a “strong-buy” rating in a report on Tuesday, July 1st. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $52.18.

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.