Hourglass Capital LLC Has $7.88 Million Stock Holdings in Schlumberger Limited $SLB

Key Points

• Hourglass Capital LLC has reduced its stake in Schlumberger Limited by 5.1%, holding 233,015 shares valued at approximately $7.88 million as of its latest SEC filing.
• Insider Dianne B. Ralston sold 39,727 shares of Schlumberger stock recently, resulting in a 16.42% decrease in her ownership.
• Schlumberger has received mixed ratings from analysts, with an average target price set at $52.06, reflecting a general sentiment of a "Moderate Buy."

Hourglass Capital LLC decreased its stake in Schlumberger Limited (NYSE:SLB - Free Report) by 5.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 233,015 shares of the oil and gas company's stock after selling 12,550 shares during the period. Schlumberger accounts for about 1.9% of Hourglass Capital LLC's holdings, making the stock its 12th biggest holding. Hourglass Capital LLC's holdings in Schlumberger were worth $7,876,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. First Command Advisory Services Inc. boosted its position in shares of Schlumberger by 300.0% during the 1st quarter. First Command Advisory Services Inc. now owns 636 shares of the oil and gas company's stock valued at $27,000 after purchasing an additional 477 shares in the last quarter. Atticus Wealth Management LLC bought a new stake in shares of Schlumberger during the 2nd quarter valued at about $29,000. Atlas Capital Advisors Inc. bought a new stake in shares of Schlumberger during the 1st quarter valued at about $33,000. Thurston Springer Miller Herd & Titak Inc. grew its stake in Schlumberger by 55.3% in the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 983 shares of the oil and gas company's stock valued at $33,000 after acquiring an additional 350 shares during the period. Finally, Alpine Bank Wealth Management acquired a new stake in Schlumberger in the first quarter valued at approximately $34,000. Institutional investors and hedge funds own 81.99% of the company's stock.

Insider Buying and Selling

In related news, insider Dianne B. Ralston sold 39,727 shares of the business's stock in a transaction dated Friday, September 12th. The stock was 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 directly owned 202,201 shares in the company, valued at $7,295,412.08. The trade was a 16.42% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.22% of the stock is currently owned by insiders.

Schlumberger Stock Performance

NYSE:SLB opened at $32.55 on Thursday. 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 business has a fifty day simple moving average of $34.49 and a two-hundred day simple moving average of $34.71. Schlumberger Limited has a 1 year low of $31.11 and a 1 year high of $44.97. The company has a market capitalization of $48.62 billion, a P/E 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 announced its quarterly earnings results on Friday, July 18th. The oil and gas company reported $0.74 earnings per share 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 return on equity of 20.99% and a net margin of 11.53%.The firm's quarterly revenue was down 6.5% compared to the same quarter last year. During the same period in the previous year, the business earned $0.85 earnings per share. On average, analysts expect that Schlumberger Limited will post 3.38 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on SLB shares. Susquehanna reduced their price objective on Schlumberger from $44.00 to $42.00 and set a "positive" rating for the company in a research note on Monday, July 21st. Weiss Ratings reissued a "hold (c-)" rating on shares of Schlumberger in a research note on Wednesday, October 8th. Stifel Nicolaus dropped their target price on Schlumberger from $54.00 to $52.00 and set a "buy" rating on the stock in a report on Wednesday, July 16th. Melius assumed coverage on Schlumberger in a report on Wednesday, August 20th. They issued a "buy" rating and a $82.00 target price on the stock. Finally, UBS Group dropped their target price on Schlumberger from $45.00 to $44.00 and set a "buy" rating on the stock in a report on Wednesday, August 20th. 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's stock. According to MarketBeat, Schlumberger currently has an average rating of "Moderate Buy" and an average target price of $52.06.

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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