Geneos Wealth Management Inc. Sells 38,081 Shares of Schlumberger Limited $SLB

Key Points

• Geneos Wealth Management Inc. reduced its holdings in Schlumberger Limited by 73.5%, selling 38,081 shares and leaving them with 13,711 shares valued at $573,000.
• Several institutional investors, including Charles Schwab Investment Management Inc. and Banque Transatlantique SA, significantly increased their stakes in Schlumberger during the first quarter, with Charles Schwab boosting its position by 478.8%.
• Schlumberger recently declared a quarterly dividend of $0.285 per share, representing a 3.2% dividend yield, with the payout scheduled for October 9th.

Geneos Wealth Management Inc. lessened its holdings in shares of Schlumberger Limited (NYSE:SLB - Free Report) by 73.5% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 13,711 shares of the oil and gas company's stock after selling 38,081 shares during the quarter. Geneos Wealth Management Inc.'s holdings in Schlumberger were worth $573,000 at the end of the most recent reporting period.

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 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 purchasing an additional 39,474,501 shares during the period. Boston Partners boosted its position in Schlumberger by 27.7% during the first quarter. Boston Partners now owns 19,829,381 shares of the oil and gas company's stock worth $824,160,000 after purchasing an additional 4,300,222 shares during the period. Hotchkis & Wiley Capital Management LLC lifted its holdings in shares of Schlumberger by 211.1% in the first quarter. Hotchkis & Wiley Capital Management LLC now owns 5,992,997 shares of the oil and gas company's stock worth $250,507,000 after buying an additional 4,066,500 shares in the last quarter. Nuveen LLC purchased a new stake in shares of Schlumberger in the first quarter worth about $169,232,000. Finally, Banque Transatlantique SA lifted its holdings in shares of Schlumberger by 21,737.8% in the first quarter. Banque Transatlantique SA now owns 1,859,274 shares of the oil and gas company's stock worth $71,821,000 after buying an additional 1,850,760 shares in the last quarter. Institutional investors own 81.99% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on SLB shares. UBS Group lowered their price target on shares of Schlumberger from $45.00 to $44.00 and set a "buy" rating on the stock in a report on Wednesday, August 20th. Susquehanna lowered their price target on shares of Schlumberger from $44.00 to $42.00 and set a "positive" rating on the stock in a report on Monday, July 21st. JPMorgan Chase & Co. lowered their price target on shares of Schlumberger from $46.00 to $44.00 and set an "overweight" rating on the stock in a report on Monday, June 30th. Melius Research started coverage on shares of Schlumberger in a report on Wednesday, August 20th. They issued a "buy" rating and a $82.00 price target on the stock. Finally, Piper Sandler lowered their price target on shares of Schlumberger from $44.00 to $42.00 and set a "neutral" rating on the stock in a report on Friday, July 18th. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $52.86.

Insider Activity at Schlumberger

In other Schlumberger news, insider Dianne B. Ralston sold 39,727 shares of Schlumberger 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 transaction, the insider directly 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 SEC, which can be accessed through this hyperlink. Company insiders own 0.26% of the company's stock.

Schlumberger Trading Down 1.2%

Shares of SLB opened at $35.58 on Friday. The firm's 50 day simple moving average is $34.82 and its 200 day simple moving average is $35.75. The company has a market capitalization of $53.14 billion, a P/E ratio of 12.18, a P/E/G ratio of 10.00 and a beta of 1.05. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.31 and a quick ratio of 0.98. Schlumberger Limited has a 1-year low of $31.11 and a 1-year 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 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% compared to the same quarter last year. During the same period last year, the firm posted $0.85 earnings per share. Sell-side analysts forecast that Schlumberger Limited will post 3.38 earnings per share for the current fiscal year.

Schlumberger Dividend Announcement

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

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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