Lmcg Investments LLC Sells 66,011 Shares of Schlumberger Limited $SLB

Key Points

• Lmcg Investments LLC has sold **66,011 shares** of Schlumberger Limited, reducing its holdings by **31.0%**, leaving it with **147,120 shares** valued at approximately **$4.97 million**.
• Insider Dianne B. Ralston sold **39,727 shares** of Schlumberger stock for about **$1.43 million**, indicating a **16.42% decrease** in her ownership of the company.
• Schlumberger's latest quarterly earnings showed an **EPS of $0.74**, exceeding analyst expectations, although revenue decreased **6.5%** year-over-year.

Lmcg Investments LLC reduced its holdings in shares of Schlumberger Limited (NYSE:SLB - Free Report) by 31.0% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 147,120 shares of the oil and gas company's stock after selling 66,011 shares during the quarter. Lmcg Investments LLC's holdings in Schlumberger were worth $4,973,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in SLB. First Command Advisory Services Inc. grew its stake 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 worth $27,000 after acquiring an additional 477 shares in the last quarter. Atticus Wealth Management LLC bought a new position in shares of Schlumberger during the 2nd quarter worth approximately $29,000. Atlas Capital Advisors Inc. bought a new position in shares of Schlumberger during the 1st quarter worth approximately $33,000. Thurston Springer Miller Herd & Titak Inc. grew its stake in shares of Schlumberger by 55.3% during the 2nd 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 in the last quarter. Finally, Alpine Bank Wealth Management bought a new position in shares of Schlumberger during the 1st quarter worth approximately $34,000. 81.99% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Schlumberger news, insider Dianne B. Ralston sold 39,727 shares of Schlumberger stock in a transaction 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 completion of the transaction, the insider directly owned 202,201 shares of the company's stock, 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 document filed with the SEC, which is available through this hyperlink. 0.22% of the stock is currently owned by company insiders.

Schlumberger Trading Down 4.2%

SLB stock opened at $31.75 on Friday. 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 has a fifty day moving average price of $34.53 and a two-hundred day moving average price of $34.91. Schlumberger Limited has a one year low of $31.11 and a one year high of $44.97. The stock has a market cap of $47.42 billion, a price-to-earnings ratio of 10.87, a price-to-earnings-growth ratio of 9.21 and a beta of 0.97.

Schlumberger (NYSE:SLB - Get Free Report) last released its quarterly earnings data on Friday, July 18th. The oil and gas company reported $0.74 EPS for the quarter, topping 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 firm had revenue of $8.55 billion during the quarter, compared to analysts' expectations of $8.51 billion. During the same period in the previous year, the business posted $0.85 earnings per share. The company's revenue for the quarter was down 6.5% compared to the same quarter last year. Equities analysts anticipate that Schlumberger Limited will post 3.38 EPS for the current year.

Schlumberger Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 9th. Shareholders of record on Wednesday, September 3rd were given a dividend of $0.285 per share. This represents a $1.14 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date of this dividend was Wednesday, September 3rd. Schlumberger's payout ratio is 39.04%.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. Atb Cap Markets raised shares of Schlumberger from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, July 1st. JPMorgan Chase & Co. decreased their target price on shares of Schlumberger from $46.00 to $44.00 and set an "overweight" rating for the company in a research note on Monday, June 30th. Barclays decreased their target price 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. Susquehanna decreased their target price 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. Finally, Stifel Nicolaus decreased their target price 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. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $52.18.

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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