Dakota Wealth Management Trims Stock Position in Schlumberger Limited $SLB

Key Points

• Dakota Wealth Management reduced its stake in Schlumberger Limited by 27.6% during the second quarter, owning 18,741 shares valued at approximately $633,000 after selling 7,159 shares.
• Schlumberger recently announced a quarterly dividend of $0.285 per share, reflecting an annualized yield of 3.2% and a dividend payout ratio of 39.04%.
• Analysts maintain a consensus rating of "Moderate Buy" for Schlumberger, with an average price target of $52.18 following recent upgrades and updates on their stock ratings.

Dakota Wealth Management lessened its stake in shares of Schlumberger Limited (NYSE:SLB - Free Report) by 27.6% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 18,741 shares of the oil and gas company's stock after selling 7,159 shares during the quarter. Dakota Wealth Management's holdings in Schlumberger were worth $633,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the stock. EntryPoint Capital LLC lifted its position in shares of Schlumberger by 4.5% during the 1st quarter. EntryPoint Capital LLC now owns 7,348 shares of the oil and gas company's stock worth $307,000 after buying an additional 316 shares during the last quarter. Heritage Wealth Management Inc. Texas grew its position in shares of Schlumberger by 2.2% during the first quarter. Heritage Wealth Management Inc. Texas now owns 14,736 shares of the oil and gas company's stock worth $616,000 after acquiring an additional 318 shares during the last quarter. Horizon Investments LLC grew its position in shares of Schlumberger by 1.5% during the first quarter. Horizon Investments LLC now owns 22,633 shares of the oil and gas company's stock worth $946,000 after acquiring an additional 330 shares during the last quarter. CreativeOne Wealth LLC grew its position in shares of Schlumberger by 6.3% during the first quarter. CreativeOne Wealth LLC now owns 5,655 shares of the oil and gas company's stock worth $236,000 after acquiring an additional 335 shares during the last quarter. Finally, Financial Management Professionals Inc. grew its position in shares of Schlumberger by 2.0% during the first quarter. Financial Management Professionals Inc. now owns 16,851 shares of the oil and gas company's stock worth $704,000 after acquiring an additional 336 shares during the last quarter. Hedge funds and other institutional investors own 81.99% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on SLB. Jefferies Financial Group lowered their target price on shares of Schlumberger from $54.00 to $53.00 and set a "buy" rating on the stock in a research report on Thursday, June 26th. Atb Cap Markets upgraded shares of Schlumberger from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, July 1st. Zacks Research upgraded shares of Schlumberger from a "strong sell" rating to a "hold" rating in a research report on Monday, September 15th. Melius Research began coverage on shares of Schlumberger in a research report on Wednesday, August 20th. They issued a "buy" rating and a $82.00 price objective on the stock. Finally, Melius began coverage on shares of Schlumberger in a research report on Wednesday, August 20th. They issued a "buy" rating and a $82.00 price objective on the stock. Two analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and five have given a Hold rating to the company's stock. Based on data from MarketBeat.com, Schlumberger has an average rating of "Moderate Buy" and an average price target of $52.18.

Schlumberger Price Performance

Schlumberger stock opened at $35.51 on Monday. Schlumberger Limited has a one year low of $31.11 and a one year high of $46.15. 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 business has a fifty day moving average of $34.65 and a two-hundred day moving average of $35.33. The company has a market cap of $53.04 billion, a P/E ratio of 12.16, a price-to-earnings-growth ratio of 9.86 and a beta of 1.05.

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

Schlumberger Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 9th. Shareholders of record on Wednesday, September 3rd will be issued a $0.285 dividend. The ex-dividend date of this dividend is Wednesday, September 3rd. This represents a $1.14 dividend on an annualized basis and a yield of 3.2%. Schlumberger's dividend payout ratio (DPR) is 39.04%.

Insider Buying and Selling

In other Schlumberger news, insider Dianne B. Ralston sold 39,727 shares of the firm'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 completion of the sale, the insider owned 202,201 shares of the company's stock, valued at approximately $7,295,412.08. This trade represents a 16.42% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.22% of the company's stock.

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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