Baxter Bros Inc. Has $290,000 Holdings in Schlumberger Limited $SLB

Key Points

• Baxter Bros Inc. reduced its holdings in Schlumberger Limited by 58.7% in Q2, owning 8,570 shares valued at $290,000 after selling over 12,000 shares during the period.
• Schlumberger announced a quarterly dividend of $0.285 per share, leading to an annualized dividend of $1.14 and a yield of 3.4%.
• Analyst ratings for Schlumberger are generally positive, with the company receiving a consensus rating of "Moderate Buy" and an average price target of $52.18.

Baxter Bros Inc. lessened its position in Schlumberger Limited (NYSE:SLB - Free Report) by 58.7% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 8,570 shares of the oil and gas company's stock after selling 12,195 shares during the period. Baxter Bros Inc.'s holdings in Schlumberger were worth $290,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in the company. First Command Advisory Services Inc. lifted its holdings in shares of Schlumberger by 300.0% in the first quarter. First Command Advisory Services Inc. now owns 636 shares of the oil and gas company's stock valued at $27,000 after purchasing an additional 477 shares in the last quarter. Atlas Capital Advisors Inc. bought a new position in shares of Schlumberger in the first quarter valued at approximately $33,000. Alpine Bank Wealth Management bought a new position in shares of Schlumberger in the first quarter valued at approximately $34,000. Atticus Wealth Management LLC bought a new position in shares of Schlumberger in the second quarter valued at approximately $29,000. Finally, Park Square Financial Group LLC bought a new position in shares of Schlumberger in the first quarter valued at approximately $38,000. Institutional investors and hedge funds own 81.99% of the company's stock.

Wall Street Analyst Weigh In

SLB has been the topic of a number of recent research reports. JPMorgan Chase & Co. dropped their target price on Schlumberger from $46.00 to $44.00 and set an "overweight" rating on the stock in a report on Monday, June 30th. Atb Cap Markets upgraded Schlumberger from a "hold" rating to a "strong-buy" rating in a report on Tuesday, July 1st. Jefferies Financial Group dropped their target price on Schlumberger from $54.00 to $53.00 and set a "buy" rating on the stock in a report on Thursday, June 26th. Wells Fargo & Company lowered Schlumberger from a "strong-buy" rating to a "hold" rating in a report on Sunday, July 20th. Finally, Piper Sandler dropped their price target on Schlumberger from $44.00 to $42.00 and set a "neutral" rating on the stock in a report on Friday, July 18th. Two equities 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 company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $52.18.

Schlumberger Stock Performance

Shares of SLB opened at $33.99 on Thursday. The firm has a market cap of $50.77 billion, a PE ratio of 11.64, a PEG ratio of 9.56 and a beta of 0.97. The stock's fifty day moving average price is $34.57 and its two-hundred day moving average price is $35.04. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.31 and a quick ratio of 0.98. Schlumberger Limited has a 1 year low of $31.11 and a 1 year high of $45.12.

Schlumberger (NYSE:SLB - Get Free Report) last issued its earnings results on Friday, July 18th. The oil and gas company reported $0.74 earnings per share (EPS) 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 analyst estimates of $8.51 billion. Schlumberger had a return on equity of 20.99% and a net margin of 11.53%.The business's revenue was down 6.5% on a year-over-year basis. During the same period in the previous year, the company posted $0.85 earnings per share. On average, equities research analysts forecast 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 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 3.4%. Schlumberger's payout ratio is presently 39.04%.

Insider Activity

In other Schlumberger news, insider Dianne B. Ralston sold 39,727 shares of the business'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 sale, the insider directly owned 202,201 shares in the company, valued at $7,295,412.08. The trade was a 16.42% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.22% of the stock is currently owned by insiders.

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.

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