Belpointe Asset Management LLC Sells 18,874 Shares of Schlumberger Limited $SLB

Key Points

• Belpointe Asset Management LLC has reduced its holdings in Schlumberger Limited by 53.2%, now owning 16,625 shares post-sale.
• Schlumberger recently reported earnings per share of $0.74, slightly exceeding analyst expectations, although revenue has decreased by 6.5% year-over-year.
• The company declared a quarterly dividend of $0.285, resulting in an annualized yield of 3.4% and a payout ratio of 39.04%.

Belpointe Asset Management LLC decreased its holdings in Schlumberger Limited (NYSE:SLB - Free Report) by 53.2% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 16,625 shares of the oil and gas company's stock after selling 18,874 shares during the period. Belpointe Asset Management LLC's holdings in Schlumberger were worth $562,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. First Command Advisory Services Inc. grew 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 worth $27,000 after acquiring an additional 477 shares during the period. Atticus Wealth Management LLC bought a new stake in shares of Schlumberger in the second quarter worth $29,000. Atlas Capital Advisors Inc. bought a new stake in shares of Schlumberger in the first quarter worth $33,000. Thurston Springer Miller Herd & Titak Inc. grew its holdings in shares of Schlumberger by 55.3% in the second 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 period. Finally, Alpine Bank Wealth Management bought a new stake in shares of Schlumberger in the first quarter worth $34,000. Institutional investors own 81.99% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on SLB shares. Weiss Ratings reaffirmed a "hold (c-)" rating on shares of Schlumberger in a report on Wednesday. Melius started coverage on Schlumberger in a report on Wednesday, August 20th. They issued a "buy" rating and a $82.00 price objective for the company. Barclays cut their price objective on Schlumberger from $47.00 to $46.00 and set an "overweight" rating for the company in a report on Monday, July 21st. Piper Sandler cut their price target on Schlumberger from $44.00 to $42.00 and set a "neutral" rating for the company in a report on Friday, July 18th. Finally, UBS Group cut their price target on Schlumberger from $45.00 to $44.00 and set a "buy" rating for the company in a report on Wednesday, August 20th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $52.18.

Schlumberger Stock Performance

NYSE:SLB opened at $33.11 on Friday. The stock has a 50-day simple moving average of $34.56 and a two-hundred day simple moving average of $34.99. Schlumberger Limited has a 52-week low of $31.11 and a 52-week high of $45.12. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.98 and a current ratio of 1.31. The firm has a market capitalization of $49.45 billion, a PE ratio of 11.34, a P/E/G ratio of 9.44 and a beta of 0.97.

Schlumberger (NYSE:SLB - Get Free Report) last released its quarterly earnings data on Friday, July 18th. The oil and gas company reported $0.74 earnings per share for the quarter, topping analysts' consensus estimates of $0.73 by $0.01. The firm had revenue of $8.55 billion during 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 quarterly revenue was down 6.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.85 earnings per share. Analysts forecast that Schlumberger Limited will post 3.38 EPS for the current year.

Schlumberger Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 9th. Stockholders of record on Wednesday, September 3rd were paid a $0.285 dividend. The ex-dividend date of this dividend was Wednesday, September 3rd. This represents a $1.14 dividend on an annualized basis and a dividend yield of 3.4%. Schlumberger's dividend payout ratio is 39.04%.

Insider Buying and Selling at Schlumberger

In other news, insider Dianne B. Ralston sold 39,727 shares of the company's stock in a transaction dated 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 transaction, the insider owned 202,201 shares of the company's stock, valued at $7,295,412.08. This represents a 16.42% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.22% of the stock is currently owned by company 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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