Ashton Thomas Private Wealth LLC Reduces Stake in Schlumberger Limited $SLB

Key Points

• Ashton Thomas Private Wealth LLC reduced its position in Schlumberger Limited by 65.3%, holding $731,000 worth of shares after selling 32,565 shares in Q1.
• Schlumberger reported $0.74 earnings per share for the last quarter, surpassing expectations and generating a revenue of $8.55 billion, though down 6.5% from the previous year.
• The company declared a quarterly dividend of $0.285 per share, yielding 3.2%, with payment scheduled for October 9th.

Ashton Thomas Private Wealth LLC lowered its position in Schlumberger Limited (NYSE:SLB - Free Report) by 65.3% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 17,317 shares of the oil and gas company's stock after selling 32,565 shares during the quarter. Ashton Thomas Private Wealth LLC's holdings in Schlumberger were worth $731,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in SLB. Charles Schwab Investment Management Inc. increased its stake in shares of Schlumberger by 478.8% in the first quarter. Charles Schwab Investment Management Inc. now owns 47,719,476 shares of the oil and gas company's stock worth $1,994,674,000 after purchasing an additional 39,474,501 shares in the last quarter. Boston Partners grew its stake in Schlumberger by 27.7% in the 1st quarter. Boston Partners now owns 19,829,381 shares of the oil and gas company's stock valued at $824,160,000 after buying an additional 4,300,222 shares in the last quarter. Northern Trust Corp lifted its position in shares of Schlumberger by 4.4% during the first quarter. Northern Trust Corp now owns 14,422,499 shares of the oil and gas company's stock worth $602,860,000 after acquiring an additional 604,832 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Schlumberger by 22.8% during the first quarter. Dimensional Fund Advisors LP now owns 8,989,115 shares of the oil and gas company's stock worth $375,738,000 after acquiring an additional 1,667,203 shares in the last quarter. Finally, Invesco Ltd. boosted its holdings in shares of Schlumberger by 3.8% in the first quarter. Invesco Ltd. now owns 7,659,177 shares of the oil and gas company's stock worth $320,154,000 after acquiring an additional 281,937 shares during the period. 81.99% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on SLB. Melius started coverage on Schlumberger in a research note on Wednesday, August 20th. They set a "buy" rating and a $82.00 price objective on the stock. Jefferies Financial Group decreased their price target on Schlumberger from $54.00 to $53.00 and set a "buy" rating on the stock in a research report on Thursday, June 26th. Barclays lowered their price target on shares of Schlumberger from $47.00 to $46.00 and set an "overweight" rating on the stock in a report on Monday, July 21st. Morgan Stanley reduced their price objective on shares of Schlumberger from $50.00 to $45.00 and set an "overweight" rating for the company in a research note on Friday, May 16th. Finally, Melius Research started coverage on shares of Schlumberger in a research note on Wednesday, August 20th. They issued a "buy" rating and a $82.00 target price on the stock. Two research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and four have given a Hold rating to the company. According to MarketBeat, Schlumberger presently has a consensus rating of "Moderate Buy" and a consensus target price of $52.86.

Insider Buying and Selling

In other Schlumberger news, insider Dianne B. Ralston sold 39,727 shares of the business's stock in a transaction that occurred 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 owned 202,201 shares in the company, valued at approximately $7,295,412.08. The trade was a 16.42% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.26% of the stock is owned by company insiders.

Schlumberger Price Performance

Shares of Schlumberger stock traded down $0.45 on Friday, hitting $35.58. 13,476,657 shares of the company traded hands, compared to its average volume of 13,681,992. Schlumberger Limited has a 12-month low of $31.11 and a 12-month high of $46.15. The company has a current ratio of 1.31, a quick ratio of 0.98 and a debt-to-equity ratio of 0.51. The company has a market cap of $53.14 billion, a P/E ratio of 12.18, a P/E/G ratio of 10.00 and a beta of 1.05. The firm's 50-day simple moving average is $34.82 and its 200 day simple moving average is $35.79.

Schlumberger (NYSE:SLB - Get Free Report) last released its quarterly earnings results on Friday, July 18th. The oil and gas company reported $0.74 earnings per share 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 business had revenue of $8.55 billion for the quarter, compared to the consensus estimate of $8.51 billion. During the same quarter last year, the business posted $0.85 earnings per share. The company's revenue for the quarter was down 6.5% on a year-over-year basis. Analysts expect that Schlumberger Limited will post 3.38 earnings per share for the current fiscal year.

Schlumberger Announces Dividend

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