Fairvoy Private Wealth LLC Reduces Stock Holdings in Schlumberger Limited $SLB

Fairvoy Private Wealth LLC lowered its position in Schlumberger Limited (NYSE:SLB) by 29.5% in the second quarter, HoldingsChannel reports. The firm owned 41,797 shares of the oil and gas company’s stock after selling 17,477 shares during the period. Fairvoy Private Wealth LLC’s holdings in Schlumberger were worth $1,413,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of SLB. First Command Advisory Services Inc. boosted its stake 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 buying an additional 477 shares during the period. Atlas Capital Advisors Inc. purchased a new position in Schlumberger during the first quarter worth about $33,000. Alpine Bank Wealth Management purchased a new position in Schlumberger during the first quarter worth about $34,000. Atticus Wealth Management LLC purchased a new position in Schlumberger during the second quarter worth about $29,000. Finally, Park Square Financial Group LLC purchased a new position in Schlumberger during the first quarter worth about $38,000. Hedge funds and other institutional investors own 81.99% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on SLB shares. UBS Group lowered their target price on shares of Schlumberger from $45.00 to $44.00 and set a “buy” rating for the company in a research note on Wednesday, August 20th. Wells Fargo & Company lowered shares of Schlumberger from a “strong-buy” rating to a “hold” rating in a research note on Sunday, July 20th. Zacks Research raised shares of Schlumberger from a “strong sell” rating to a “hold” rating in a research note on Monday, September 15th. Melius started coverage on shares of Schlumberger in a research note on Wednesday, August 20th. They issued a “buy” rating and a $82.00 price objective for the company. Finally, Barclays lowered their price objective on shares of Schlumberger from $47.00 to $46.00 and set an “overweight” rating for the company in a research note on Monday, July 21st. Two research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $52.18.

Insiders Place Their Bets

In related news, insider Dianne B. Ralston sold 39,727 shares of the firm’s stock in a transaction that occurred on Friday, September 12th. The shares were sold at an average price of $36.08, for a total value of $1,433,350.16. Following the sale, the insider owned 202,201 shares of the company’s stock, valued at $7,295,412.08. This trade represents a 16.42% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.22% of the stock is currently owned by company insiders.

Schlumberger Trading Up 0.4%

NYSE SLB opened at $34.26 on Friday. The firm has a 50 day simple moving average of $34.63 and a 200-day simple moving average of $35.19. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.98 and a current ratio of 1.31. Schlumberger Limited has a one year low of $31.11 and a one year high of $46.15. The firm has a market cap of $51.17 billion, a price-to-earnings ratio of 11.73, a PEG ratio of 9.47 and a beta of 0.97.

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

Schlumberger Announces Dividend

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

About Schlumberger

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.