Schlumberger Limited (NYSE:SLB) Shares Sold by New Age Alpha Advisors LLC

Key Points

• New Age Alpha Advisors LLC has reduced its holdings in Schlumberger Limited by 27.7%, selling 36,619 shares, bringing its total ownership to 95,493 shares valued at approximately $3.99 million.
• Schlumberger has declared a quarterly dividend of $0.285 per share, scheduled to be paid on October 9th, representing an annualized yield of 3.4%.
• Investment analysts have mixed ratings on Schlumberger, with recent downgrades from Wells Fargo and a consensus target price of $49.28, indicating potential growth in the stock's value.

New Age Alpha Advisors LLC decreased its position in Schlumberger Limited (NYSE:SLB - Free Report) by 27.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 95,493 shares of the oil and gas company's stock after selling 36,619 shares during the period. New Age Alpha Advisors LLC's holdings in Schlumberger were worth $3,992,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in SLB. 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 worth $27,000 after purchasing an additional 477 shares during the period. Alpine Bank Wealth Management purchased a new position in shares of Schlumberger during the 1st quarter worth approximately $34,000. Park Square Financial Group LLC purchased a new position in shares of Schlumberger during the 1st quarter worth approximately $38,000. N.E.W. Advisory Services LLC purchased a new position in shares of Schlumberger during the 1st quarter worth approximately $40,000. Finally, Sound Income Strategies LLC boosted its position in shares of Schlumberger by 265.4% during the 1st quarter. Sound Income Strategies LLC now owns 961 shares of the oil and gas company's stock worth $40,000 after purchasing an additional 698 shares during the period. Hedge funds and other institutional investors own 81.99% of the company's stock.

Insider Buying and Selling at Schlumberger

In other news, Director La Chevardiere Patrick De sold 5,000 shares of the firm'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 sale, the director directly owned 23,525 shares in the company, valued at approximately $789,969.50. This trade 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 this link. Insiders own 0.26% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on SLB. Piper Sandler lowered their price objective on shares of Schlumberger from $44.00 to $42.00 and set a "neutral" rating for the company in a research report on Friday, July 18th. Stifel Nicolaus lowered their price objective on shares of Schlumberger from $54.00 to $52.00 and set a "buy" rating for the company in a research report on Wednesday, July 16th. Atb Cap Markets raised shares of Schlumberger from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, July 1st. UBS Group increased their price objective on shares of Schlumberger from $44.00 to $45.00 and gave the stock a "buy" rating in a research report on Wednesday, July 2nd. Finally, Wells Fargo & Company cut shares of Schlumberger from a "strong-buy" rating to a "hold" rating in a research report on Sunday, July 20th. 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 company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $49.28.

Schlumberger Stock Up 0.3%

SLB stock traded up $0.11 during midday trading on Friday, hitting $32.90. The company's stock had a trading volume of 10,215,438 shares, compared to its average volume of 19,141,180. Schlumberger Limited has a 52-week low of $31.11 and a 52-week high of $46.16. The firm has a 50-day simple moving average of $34.72 and a 200-day simple moving average of $36.91. The firm has a market capitalization of $44.46 billion, a P/E ratio of 11.27, a PEG ratio of 9.10 and a beta of 1.03. The company has a quick ratio of 0.98, a current ratio of 1.31 and a debt-to-equity ratio of 0.51.

Schlumberger (NYSE:SLB - Get Free Report) last announced its quarterly earnings data on Friday, July 18th. The oil and gas company reported $0.74 earnings per share 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 business had revenue of $8.55 billion for the quarter, compared to analyst estimates of $8.51 billion. During the same period last year, the business earned $0.85 EPS. The company's revenue was down 6.5% on a year-over-year basis. As a group, equities analysts forecast that Schlumberger Limited will post 3.38 EPS for the current year.

Schlumberger Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 9th. Stockholders of record on Wednesday, September 3rd will be issued a $0.285 dividend. This represents a $1.14 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date is Wednesday, September 3rd. Schlumberger's dividend payout ratio (DPR) is presently 39.04%.

About Schlumberger

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.