BigSur Wealth Management LLC Has $794,000 Holdings in Schlumberger Limited $SLB

Key Points

• BigSur Wealth Management LLC significantly reduced its holdings in Schlumberger Limited by 57.2%, now owning 23,300 shares valued at $794,000.
• Institutional investors have increased their stakes in Schlumberger, with some firms like Charles Schwab Investment Management boosting their positions by as much as 478.8%.
• Schlumberger's recent quarterly earnings showed an EPS of $0.74, slightly above analysts' expectations, although revenue was down 6.5% year-over-year.

BigSur Wealth Management LLC trimmed its stake in shares of Schlumberger Limited (NYSE:SLB - Free Report) by 57.2% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 23,300 shares of the oil and gas company's stock after selling 31,120 shares during the period. BigSur Wealth Management LLC's holdings in Schlumberger were worth $794,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in SLB. Charles Schwab Investment Management Inc. boosted its position in shares of Schlumberger by 478.8% during 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 buying an additional 39,474,501 shares during the period. Boston Partners boosted its position in Schlumberger by 27.7% during the 1st quarter. Boston Partners now owns 19,829,381 shares of the oil and gas company's stock worth $824,160,000 after acquiring an additional 4,300,222 shares during the last quarter. Northern Trust Corp boosted its position in Schlumberger by 4.4% during the 1st 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 during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Schlumberger by 22.8% during the 1st 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. raised 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 valued at $320,154,000 after purchasing an additional 281,937 shares during the last quarter. 81.99% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages recently commented on SLB. JPMorgan Chase & Co. reduced their target price on shares of Schlumberger from $46.00 to $44.00 and set an "overweight" rating for the company in a report on Monday, June 30th. Stifel Nicolaus cut their price target on shares of Schlumberger from $54.00 to $52.00 and set a "buy" rating on the stock in a research report on Wednesday, July 16th. Susquehanna reduced their price objective on shares of Schlumberger from $44.00 to $42.00 and set a "positive" rating for the company in a research note on Monday, July 21st. Wells Fargo & Company downgraded Schlumberger from a "strong-buy" rating to a "hold" rating in a research report on Sunday, July 20th. Finally, 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. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, Schlumberger presently has an average rating of "Moderate Buy" and a consensus price target of $52.18.

Insider Transactions at Schlumberger

In other Schlumberger news, insider Dianne B. Ralston sold 39,727 shares of Schlumberger stock in a transaction on Friday, September 12th. The shares were sold at an average price of $36.08, for a total transaction of $1,433,350.16. Following the completion of the transaction, the insider directly owned 202,201 shares of the company's stock, valued at $7,295,412.08. The trade was a 16.42% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.22% of the stock is owned by corporate insiders.

Schlumberger Stock Up 0.4%

Shares of SLB stock opened at $34.63 on Thursday. 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's 50-day moving average is $34.61 and its 200-day moving average is $35.47. The stock has a market cap of $51.73 billion, a price-to-earnings ratio of 11.86, a PEG ratio of 9.57 and a beta of 1.05. Schlumberger Limited has a 52-week low of $31.11 and a 52-week high of $46.15.

Schlumberger (NYSE:SLB - Get Free Report) last posted its quarterly earnings results on Friday, July 18th. The oil and gas company reported $0.74 EPS for the quarter, topping analysts' consensus estimates of $0.73 by $0.01. The business had revenue of $8.55 billion during the quarter, compared to analysts' expectations of $8.51 billion. Schlumberger had a return on equity of 20.99% and a net margin of 11.53%.Schlumberger's quarterly revenue was down 6.5% on a year-over-year basis. During the same quarter last year, the company posted $0.85 earnings per share. Sell-side analysts predict that Schlumberger Limited will post 3.38 EPS for the current year.

Schlumberger Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 9th. Investors 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 yield of 3.3%. The ex-dividend date is Wednesday, September 3rd. Schlumberger's dividend payout ratio 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.

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