Lyell Wealth Management LP Trims Stock Holdings in Schlumberger Limited (NYSE:SLB)

Key Points

• Lyell Wealth Management LP reduced its holdings in Schlumberger Limited (NYSE:SLB) by 18.9% in Q1, selling 28,823 shares, and now owns shares worth approximately $5.18 million.
• Schlumberger reported Q2 earnings per share of $0.74, beating estimates of $0.73, but noted a 6.5% decrease in quarterly revenue compared to the previous year.
• The company declared a quarterly dividend of $0.285 per share, resulting in an annualized dividend yield of 3.33%, with the ex-dividend date set for September 3rd.

Lyell Wealth Management LP lowered its holdings in Schlumberger Limited (NYSE:SLB - Free Report) by 18.9% in the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 123,818 shares of the oil and gas company's stock after selling 28,823 shares during the period. Lyell Wealth Management LP's holdings in Schlumberger were worth $5,176,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Dynamic Technology Lab Private Ltd boosted its holdings in Schlumberger by 32.2% in the fourth quarter. Dynamic Technology Lab Private Ltd now owns 71,390 shares of the oil and gas company's stock valued at $2,737,000 after purchasing an additional 17,405 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Schlumberger by 4.8% during the 4th quarter. Geode Capital Management LLC now owns 29,985,360 shares of the oil and gas company's stock worth $1,146,195,000 after buying an additional 1,377,134 shares during the last quarter. Scharf Investments LLC lifted its holdings in Schlumberger by 20.5% during the 1st quarter. Scharf Investments LLC now owns 1,653,895 shares of the oil and gas company's stock worth $69,133,000 after buying an additional 281,773 shares during the last quarter. Integrated Advisors Network LLC lifted its holdings in Schlumberger by 810.4% during the 1st quarter. Integrated Advisors Network LLC now owns 75,163 shares of the oil and gas company's stock worth $3,142,000 after buying an additional 66,907 shares during the last quarter. Finally, Alan B Lancz & Associates Inc. bought a new position in Schlumberger during the 1st quarter worth approximately $308,000. Hedge funds and other institutional investors own 81.99% of the company's stock.

Schlumberger Stock Down 4.0%

Shares of SLB stock opened at $34.22 on Thursday. Schlumberger Limited has a 1 year low of $31.11 and a 1 year high of $48.57. The stock has a market cap of $46.24 billion, a PE ratio of 11.72, a price-to-earnings-growth ratio of 9.89 and a beta of 1.01. The business's fifty day moving average is $34.79 and its 200-day moving average is $37.32. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.98 and a current ratio of 1.31.

Schlumberger (NYSE:SLB - Get Free Report) last issued its quarterly earnings results on Friday, July 18th. The oil and gas company reported $0.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.73 by $0.01. Schlumberger had a return on equity of 20.99% and a net margin of 11.53%. The company had revenue of $8.55 billion for the quarter, compared to analysts' expectations of $8.51 billion. During the same period last year, the firm earned $0.85 EPS. The firm's revenue for the quarter was down 6.5% on a year-over-year basis. Equities analysts expect that Schlumberger Limited will post 3.38 earnings per share for the current fiscal year.

Schlumberger Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 9th. Stockholders of record on Wednesday, September 3rd will be given a dividend of $0.285 per share. This represents a $1.14 annualized dividend and a dividend yield of 3.33%. The ex-dividend date is Wednesday, September 3rd. Schlumberger's dividend payout ratio (DPR) is presently 39.04%.

Analyst Upgrades and Downgrades

SLB has been the topic of a number of research analyst reports. Piper Sandler reduced their target price on Schlumberger from $44.00 to $42.00 and set a "neutral" rating on the stock in a report on Friday, July 18th. JPMorgan Chase & Co. reduced their target price on Schlumberger from $46.00 to $44.00 and set an "overweight" rating on the stock in a report on Monday, June 30th. UBS Group raised their price target on Schlumberger from $44.00 to $45.00 and gave the stock a "buy" rating in a report on Wednesday, July 2nd. Barclays cut their price target on Schlumberger from $47.00 to $46.00 and set an "overweight" rating on the stock in a report on Monday, July 21st. Finally, Susquehanna cut their price target on Schlumberger from $44.00 to $42.00 and set a "positive" rating on the stock in a report on Monday, July 21st. Four analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $49.28.

Insider Activity

In related news, Director La Chevardiere Patrick De sold 5,000 shares of Schlumberger stock in a transaction on Thursday, May 22nd. The stock was sold at an average price of $33.58, for a total value of $167,900.00. Following the transaction, the director directly owned 23,525 shares in the company, valued at $789,969.50. The trade was a 17.53% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 0.26% of the company's stock.

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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