Ramirez Asset Management Inc. Lowers Stock Position in Schlumberger Limited $SLB

Ramirez Asset Management Inc. lowered its position in Schlumberger Limited (NYSE:SLB) by 15.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,125 shares of the oil and gas company’s stock after selling 400 shares during the period. Ramirez Asset Management Inc.’s holdings in Schlumberger were worth $72,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. EntryPoint Capital LLC raised its holdings in shares of Schlumberger by 4.5% in the first quarter. EntryPoint Capital LLC now owns 7,348 shares of the oil and gas company’s stock valued at $307,000 after purchasing an additional 316 shares during the last quarter. Heritage Wealth Management Inc. Texas increased its holdings in Schlumberger by 2.2% during the first quarter. Heritage Wealth Management Inc. Texas now owns 14,736 shares of the oil and gas company’s stock worth $616,000 after buying an additional 318 shares during the last quarter. Horizon Investments LLC increased its holdings in Schlumberger by 1.5% during the first quarter. Horizon Investments LLC now owns 22,633 shares of the oil and gas company’s stock worth $946,000 after buying an additional 330 shares during the last quarter. CreativeOne Wealth LLC increased its holdings in Schlumberger by 6.3% during the first quarter. CreativeOne Wealth LLC now owns 5,655 shares of the oil and gas company’s stock worth $236,000 after buying an additional 335 shares during the last quarter. Finally, Forza Wealth Management LLC increased its holdings in Schlumberger by 5.8% during the first quarter. Forza Wealth Management LLC now owns 6,374 shares of the oil and gas company’s stock worth $266,000 after buying an additional 350 shares during the last quarter. Hedge funds and other institutional investors own 81.99% of the company’s stock.

Schlumberger Price Performance

Shares of NYSE:SLB opened at $31.75 on Friday. 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 firm has a market capitalization of $47.42 billion, a PE ratio of 10.87, a P/E/G ratio of 9.21 and a beta of 0.97. Schlumberger Limited has a twelve month low of $31.11 and a twelve month high of $44.97. The company has a 50-day moving average price of $34.53 and a two-hundred day moving average price of $34.91.

Schlumberger (NYSE:SLB) last released 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 analyst estimates of $8.51 billion. During the same period last year, the business earned $0.85 earnings per share. Schlumberger’s revenue was down 6.5% compared to the same quarter last year. Equities analysts forecast that Schlumberger Limited will post 3.38 EPS for the current year.

Schlumberger Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 9th. Stockholders of record on Wednesday, September 3rd were given a $0.285 dividend. This represents a $1.14 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date was Wednesday, September 3rd. Schlumberger’s dividend payout ratio (DPR) is 39.04%.

Insider Activity at Schlumberger

In other 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 completion of the transaction, the insider directly owned 202,201 shares in the company, valued at approximately $7,295,412.08. This trade represents a 16.42% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.22% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on SLB shares. Susquehanna decreased their price objective on shares of Schlumberger from $44.00 to $42.00 and set a “positive” rating for the company in a report on Monday, July 21st. Stifel Nicolaus decreased their price objective on shares of Schlumberger from $54.00 to $52.00 and set a “buy” rating for the company in a report on Wednesday, July 16th. Melius started coverage on shares of Schlumberger in a report on Wednesday, August 20th. They set a “buy” rating and a $82.00 price objective for the company. Wells Fargo & Company lowered shares of Schlumberger from a “strong-buy” rating to a “hold” rating in a research report on Sunday, July 20th. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of Schlumberger in a research report on Wednesday. Two analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat, Schlumberger presently 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.