Callahan Advisors LLC Sells 102,750 Shares of Schlumberger Limited $SLB

Key Points

• Callahan Advisors LLC reduced its holdings in Schlumberger Limited by 45.0%, selling 102,750 shares to end with 125,438 shares worth approximately $4.24 million.
• Other hedge funds have mixed strategies with Schlumberger, with some like Generali Asset Management increasing their stake by 23.0%, while institutional investors now own 81.99% of the company's stock.
• Schlumberger's stock has an average rating of "Moderate Buy" with a consensus target price of $52.06, following a recent earnings report that beat estimates.

Callahan Advisors LLC lessened its holdings in Schlumberger Limited (NYSE:SLB - Free Report) by 45.0% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 125,438 shares of the oil and gas company's stock after selling 102,750 shares during the quarter. Callahan Advisors LLC's holdings in Schlumberger were worth $4,240,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Generali Asset Management SPA SGR boosted its holdings in Schlumberger by 23.0% during the 2nd quarter. Generali Asset Management SPA SGR now owns 222,984 shares of the oil and gas company's stock worth $7,537,000 after acquiring an additional 41,703 shares during the last quarter. Ritholtz Wealth Management raised its stake in shares of Schlumberger by 27.2% during the 2nd quarter. Ritholtz Wealth Management now owns 36,350 shares of the oil and gas company's stock worth $1,229,000 after purchasing an additional 7,766 shares during the period. Mitchell Mcleod Pugh & Williams Inc. raised its stake in shares of Schlumberger by 2.3% during the 2nd quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 16,062 shares of the oil and gas company's stock worth $543,000 after purchasing an additional 365 shares during the period. AEGON ASSET MANAGEMENT UK Plc raised its stake in shares of Schlumberger by 47.8% during the 2nd quarter. AEGON ASSET MANAGEMENT UK Plc now owns 1,063,633 shares of the oil and gas company's stock worth $35,919,000 after purchasing an additional 343,906 shares during the period. Finally, Boston Trust Walden Corp raised its stake in shares of Schlumberger by 47.4% during the 2nd quarter. Boston Trust Walden Corp now owns 582,751 shares of the oil and gas company's stock worth $19,697,000 after purchasing an additional 187,490 shares during the period. Institutional investors own 81.99% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the company. Weiss Ratings reiterated a "hold (c-)" rating on shares of Schlumberger in a research note on Wednesday, October 8th. Atb Cap Markets upgraded Schlumberger from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, July 1st. Wells Fargo & Company cut Schlumberger from a "strong-buy" rating to a "hold" rating in a research note on Sunday, July 20th. Susquehanna lowered their price objective on Schlumberger from $44.00 to $42.00 and set a "positive" rating on the stock in a research note on Monday, July 21st. Finally, Barclays lowered their price objective on Schlumberger from $47.00 to $46.00 and set an "overweight" rating on the stock in a research note on Monday, July 21st. Two investment analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $52.06.

Insider Buying and Selling

In related news, insider Dianne B. Ralston sold 39,727 shares of the business'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 transaction of $1,433,350.16. Following the completion of the transaction, the insider owned 202,201 shares of the company's stock, 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.22% of the company's stock.

Schlumberger Trading Down 0.0%

Shares of SLB opened at $32.55 on Thursday. The business's 50-day moving average price is $34.49 and its 200-day moving average price is $34.71. The company has a quick ratio of 0.98, a current ratio of 1.31 and a debt-to-equity ratio of 0.51. Schlumberger Limited has a twelve month low of $31.11 and a twelve month high of $44.97. The stock has a market cap of $48.62 billion, a PE ratio of 11.15, a P/E/G ratio of 9.06 and a beta of 0.97.

Schlumberger (NYSE:SLB - Get Free Report) last issued its quarterly earnings data on Friday, July 18th. The oil and gas company reported $0.74 EPS for the quarter, beating the consensus estimate of $0.73 by $0.01. The company had revenue of $8.55 billion during the quarter, compared to analysts' expectations of $8.51 billion. Schlumberger had a net margin of 11.53% and a return on equity of 20.99%. Schlumberger's revenue for the quarter was down 6.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.85 earnings per share. On average, equities analysts forecast that Schlumberger Limited will post 3.38 EPS for the current fiscal year.

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.

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