Fairvoy Private Wealth LLC Lowers Stock Position in Schlumberger Limited $SLB

Key Points

• Fairvoy Private Wealth LLC reduced its stake in Schlumberger Limited by 29.5% during Q2, now holding 41,797 shares worth approximately $1.41 million.
• Schlumberger reported $0.74 EPS for the last quarter, exceeding estimates, but saw quarterly revenue decrease by 6.5% year-over-year.
• The company announced a quarterly dividend of $0.285, set to be paid on October 9th, with a current dividend yield of 3.3%.

Fairvoy Private Wealth LLC cut its position in shares of Schlumberger Limited (NYSE:SLB - Free Report) by 29.5% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 41,797 shares of the oil and gas company's stock after selling 17,477 shares during the period. Fairvoy Private Wealth LLC's holdings in Schlumberger were worth $1,413,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. First Command Advisory Services Inc. boosted its holdings in Schlumberger by 300.0% during the first quarter. First Command Advisory Services Inc. now owns 636 shares of the oil and gas company's stock worth $27,000 after buying an additional 477 shares in the last quarter. Atticus Wealth Management LLC purchased a new stake in Schlumberger during the second quarter worth $29,000. Atlas Capital Advisors Inc. purchased a new stake in Schlumberger during the first quarter worth $33,000. Thurston Springer Miller Herd & Titak Inc. raised its position in Schlumberger by 55.3% during 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 acquired a new position in Schlumberger during the first quarter worth $34,000. 81.99% of the stock is owned by hedge funds and other institutional investors.

Schlumberger Price Performance

Shares of NYSE SLB opened at $34.26 on Friday. The firm has a 50-day simple moving average of $34.63 and a 200-day simple moving average of $35.19. The stock has a market capitalization of $51.17 billion, a price-to-earnings ratio of 11.73, a price-to-earnings-growth ratio of 9.47 and a beta of 0.97. 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 52 week low of $31.11 and a 52 week high of $46.15.

Schlumberger (NYSE:SLB - Get Free Report) last issued 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. The business 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%. The company's quarterly revenue was down 6.5% compared to the same quarter last year. During the same period in the prior year, the business earned $0.85 earnings per share. On average, equities analysts predict that Schlumberger Limited will post 3.38 earnings per share for the current fiscal year.

Schlumberger Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 9th. Investors 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 dividend yield of 3.3%. Schlumberger's dividend payout ratio is currently 39.04%.

Insider Activity

In related news, insider Dianne B. Ralston sold 39,727 shares of the company's stock in a transaction dated 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 completion of the sale, the insider owned 202,201 shares of the company's stock, 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 document filed with the SEC, which can be accessed through this link. Corporate insiders own 0.22% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on SLB shares. Piper Sandler reduced their price objective on shares of Schlumberger from $44.00 to $42.00 and set a "neutral" rating for the company in a research report on Friday, July 18th. Melius Research started coverage on shares of Schlumberger in a research report on Wednesday, August 20th. They set a "buy" rating and a $82.00 price objective for the company. Weiss Ratings restated a "hold (c-)" rating on shares of Schlumberger in a research report on Saturday, September 27th. Barclays reduced their price objective on shares of Schlumberger from $47.00 to $46.00 and set an "overweight" rating for the company in a research report on Monday, July 21st. Finally, Zacks Research upgraded shares of Schlumberger from a "strong sell" rating to a "hold" rating in a research report on Monday, September 15th. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat.com, Schlumberger currently has a consensus rating of "Moderate Buy" and a consensus target price of $52.18.

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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