Envestnet Portfolio Solutions Inc. Decreases Position in Schlumberger Limited $SLB

Key Points

• Envestnet Portfolio Solutions Inc. reduced its holdings in Schlumberger Limited by 45.6% during Q2, leaving them with 112,089 shares valued at $3,789,000.
• Several analysts recently adjusted their ratings on Schlumberger, with UBS Group lowering its price target from $45.00 to $44.00 while maintaining a "buy" rating.
• Insider Dianne B. Ralston sold 39,727 shares at an average price of $36.08, resulting in a 16.42% decrease in her ownership of the stock.

Envestnet Portfolio Solutions Inc. lessened its holdings in Schlumberger Limited (NYSE:SLB - Free Report) by 45.6% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 112,089 shares of the oil and gas company's stock after selling 94,008 shares during the quarter. Envestnet Portfolio Solutions Inc.'s holdings in Schlumberger were worth $3,789,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. EntryPoint Capital LLC increased its position in shares of Schlumberger by 4.5% in the first quarter. EntryPoint Capital LLC now owns 7,348 shares of the oil and gas company's stock valued at $307,000 after acquiring an additional 316 shares during the period. Heritage Wealth Management Inc. Texas increased 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 valued at $616,000 after buying an additional 318 shares during the period. Horizon Investments LLC increased 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 valued at $946,000 after buying an additional 330 shares during the period. CreativeOne Wealth LLC increased 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 valued at $236,000 after buying an additional 335 shares during the period. Finally, Forza Wealth Management LLC increased its position in shares of Schlumberger by 5.8% during the first quarter. Forza Wealth Management LLC now owns 6,374 shares of the oil and gas company's stock valued at $266,000 after buying an additional 350 shares during the period. Hedge funds and other institutional investors own 81.99% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on SLB shares. UBS Group reduced their price target on shares of Schlumberger from $45.00 to $44.00 and set a "buy" rating on the stock in a research report on Wednesday, August 20th. 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. Wells Fargo & Company cut shares of Schlumberger from a "strong-buy" rating to a "hold" rating in a research report on Sunday, July 20th. Finally, Weiss Ratings reissued a "hold (c-)" rating on shares of Schlumberger in a research note on Wednesday, October 8th. Two analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $52.06.

Insider Activity

In other news, insider Dianne B. Ralston sold 39,727 shares of the company'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 value of $1,433,350.16. Following the transaction, the insider owned 202,201 shares in the company, valued at approximately $7,295,412.08. This represents a 16.42% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.22% of the company's stock.

Schlumberger Trading Down 0.0%

NYSE:SLB opened at $32.55 on Thursday. Schlumberger Limited has a one year low of $31.11 and a one year high of $44.97. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.31 and a quick ratio of 0.98. The company's 50-day simple moving average is $34.49 and its 200 day simple moving average is $34.71. The firm has a market capitalization of $48.62 billion, a P/E ratio of 11.15, a PEG ratio of 9.06 and a beta of 0.97.

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, topping the consensus estimate of $0.73 by $0.01. The firm had revenue of $8.55 billion for the quarter, compared to the consensus estimate of $8.51 billion. Schlumberger had a net margin of 11.53% and a return on equity of 20.99%. The business's revenue was down 6.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.85 earnings per share. As a group, analysts forecast that Schlumberger Limited will post 3.38 EPS for the current fiscal year.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.