Sicart Associates LLC Sells 5,276 Shares of Schlumberger Limited $SLB

Sicart Associates LLC decreased its position in Schlumberger Limited (NYSE:SLB) by 2.7% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 190,527 shares of the oil and gas company’s stock after selling 5,276 shares during the quarter. Schlumberger accounts for 2.2% of Sicart Associates LLC’s portfolio, making the stock its 17th biggest holding. Sicart Associates LLC’s holdings in Schlumberger were worth $6,440,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. First Command Advisory Services Inc. increased its stake in Schlumberger by 300.0% in the 1st 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 last quarter. Atticus Wealth Management LLC bought a new stake in Schlumberger in the 2nd quarter worth approximately $29,000. Atlas Capital Advisors Inc. bought a new stake in Schlumberger in the 1st quarter worth approximately $33,000. Thurston Springer Miller Herd & Titak Inc. increased its stake in Schlumberger by 55.3% in the 2nd 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 last quarter. Finally, Alpine Bank Wealth Management bought a new stake in Schlumberger in the 1st quarter worth approximately $34,000. Institutional investors own 81.99% of the company’s stock.

Insider Buying and Selling at Schlumberger

In other Schlumberger news, insider Dianne B. Ralston sold 39,727 shares of the company’s stock in a transaction on Friday, September 12th. The stock was sold at an average price of $36.08, for a total value of $1,433,350.16. Following the completion of the sale, the insider directly owned 202,201 shares in the company, valued at approximately $7,295,412.08. This represents a 16.42% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.22% of the company’s stock.

Wall Street Analyst Weigh In

SLB has been the topic of several analyst reports. JPMorgan Chase & Co. cut their target price on Schlumberger from $46.00 to $44.00 and set an “overweight” rating on the stock in a research report on Monday, June 30th. Atb Cap Markets raised Schlumberger from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, July 1st. Jefferies Financial Group cut their target price on Schlumberger from $54.00 to $53.00 and set a “buy” rating on the stock in a research report on Thursday, June 26th. UBS Group cut their target price on Schlumberger from $45.00 to $44.00 and set a “buy” rating on the stock in a research report on Wednesday, August 20th. Finally, Barclays cut their target price on Schlumberger from $47.00 to $46.00 and set an “overweight” 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 assigned a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, Schlumberger currently has an average rating of “Moderate Buy” and an average price target of $52.18.

Schlumberger Price Performance

SLB opened at $34.36 on Wednesday. The business has a fifty day moving average of $34.68 and a 200 day moving average of $35.28. Schlumberger Limited has a 52-week low of $31.11 and a 52-week high of $46.15. The company has a quick ratio of 0.98, a current ratio of 1.31 and a debt-to-equity ratio of 0.51. The stock has a market cap of $51.32 billion, a P/E ratio of 11.77, a PEG ratio of 9.75 and a beta of 1.05.

Schlumberger (NYSE:SLB) last posted its quarterly earnings data on Friday, July 18th. The oil and gas company reported $0.74 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.73 by $0.01. Schlumberger had a return on equity of 20.99% and a net margin of 11.53%.The company had revenue of $8.55 billion during the quarter, compared to analysts’ expectations of $8.51 billion. During the same quarter in the previous year, the business earned $0.85 EPS. 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 EPS for the current year.

Schlumberger Announces Dividend

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

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.