Kovack Advisors Inc. Trims Stock Holdings in Schlumberger Limited (NYSE:SLB)

Key Points

• Kovack Advisors Inc. reduced its stake in Schlumberger Limited by 63.7% in the first quarter, owning 13,585 shares after selling 23,855 shares, valued at approximately $568,000.
• Schlumberger's quarterly earnings reported an EPS of $0.74, slightly above expectations, but revenue decreased by 6.5% compared to the same quarter last year.
• The company declared a quarterly dividend of $0.285 to be paid on October 9th, representing an annualized dividend yield of 3.21%.

Kovack Advisors Inc. lessened its position in shares of Schlumberger Limited (NYSE:SLB - Free Report) by 63.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 13,585 shares of the oil and gas company's stock after selling 23,855 shares during the period. Kovack Advisors Inc.'s holdings in Schlumberger were worth $568,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. First Command Advisory Services Inc. increased its holdings in 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 worth $27,000 after acquiring an additional 477 shares during the period. Alpine Bank Wealth Management bought a new stake in Schlumberger during the 1st quarter worth approximately $34,000. True Wealth Design LLC increased its holdings in Schlumberger by 584.7% during the 4th quarter. True Wealth Design LLC now owns 986 shares of the oil and gas company's stock worth $38,000 after acquiring an additional 842 shares during the period. Park Square Financial Group LLC bought a new stake in Schlumberger during the 1st quarter worth approximately $38,000. Finally, Mpwm Advisory Solutions LLC bought a new stake in Schlumberger during the 4th quarter worth approximately $40,000. Institutional investors own 81.99% of the company's stock.

Schlumberger Trading Up 0.7%

NYSE:SLB opened at $35.48 on Friday. The company has a fifty day moving average of $34.75 and a 200 day moving average of $37.40. Schlumberger Limited has a 52 week low of $31.11 and a 52 week high of $49.31. The company has a quick ratio of 0.98, a current ratio of 1.31 and a debt-to-equity ratio of 0.51. The firm has a market capitalization of $48.26 billion, a P/E ratio of 12.15, a P/E/G ratio of 9.70 and a beta of 1.01.

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, beating analysts' consensus estimates of $0.73 by $0.01. Schlumberger had a net margin of 11.53% and a return on equity of 20.99%. The company had revenue of $8.55 billion during the quarter, compared to analyst estimates of $8.51 billion. During the same period in the prior year, the business posted $0.85 EPS. The firm's revenue was down 6.5% compared to the same quarter last year. On average, research analysts predict that Schlumberger Limited will post 3.38 earnings per share for the current year.

Schlumberger Dividend Announcement

The business also recently disclosed 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 is Wednesday, September 3rd. This represents a $1.14 annualized dividend and a yield of 3.21%. Schlumberger's dividend payout ratio (DPR) is presently 39.04%.

Insider Buying and Selling

In other Schlumberger news, Director La Chevardiere Patrick De sold 5,000 shares of the company's stock in a transaction on Thursday, May 22nd. The shares were sold at an average price of $33.58, for a total value of $167,900.00. Following the completion of the transaction, the director directly owned 23,525 shares in the company, valued at approximately $789,969.50. This represents a 17.53% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.26% of the company's stock.

Analyst Ratings Changes

SLB has been the topic of a number of analyst reports. Jefferies Financial Group decreased their target price on shares of Schlumberger from $54.00 to $53.00 and set a "buy" rating on the stock in a report on Thursday, June 26th. Susquehanna cut their price target on shares of Schlumberger from $44.00 to $42.00 and set a "positive" rating for the company in a research note on Monday, July 21st. Piper Sandler cut their price target on shares of Schlumberger from $44.00 to $42.00 and set a "neutral" rating for the company in a research note on Friday, July 18th. Stifel Nicolaus cut their price target on shares of Schlumberger from $54.00 to $52.00 and set a "buy" rating for the company in a research note on Wednesday, July 16th. Finally, Barclays cut their price target on shares of Schlumberger from $47.00 to $46.00 and set an "overweight" rating for the company in a research note on Monday, July 21st. Four equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $49.28.

Schlumberger Company 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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