Quintet Private Bank Europe S.A. Sells 26,998 Shares of Schlumberger Limited $SLB

Key Points

• Quintet Private Bank Europe S.A. reduced its stake in Schlumberger Limited by 62.3% in Q2, now holding 16,330 shares valued at $552,000 after selling 26,998 shares.
• Insider Dianne B. Ralston sold 39,727 shares for approximately $1.43 million, resulting in a 16.42% decrease in her stock ownership.
• Schlumberger announced a quarterly dividend of $0.285 per share, with a dividend yield of 3.2% and a payout ratio of 39.04%.

Quintet Private Bank Europe S.A. decreased its holdings in shares of Schlumberger Limited (NYSE:SLB - Free Report) by 62.3% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,330 shares of the oil and gas company's stock after selling 26,998 shares during the period. Quintet Private Bank Europe S.A.'s holdings in Schlumberger were worth $552,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. 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. 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. boosted its position 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 valued at $33,000 after purchasing an additional 350 shares in the last quarter. Alpine Bank Wealth Management bought a new stake in shares of Schlumberger during the 1st quarter valued at about $34,000. Finally, Park Square Financial Group LLC bought a new stake in shares of Schlumberger during the 1st quarter valued at about $38,000. Institutional investors own 81.99% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on SLB shares. Stifel Nicolaus cut their target price on Schlumberger from $54.00 to $52.00 and set a "buy" rating on the stock in a research report on Wednesday, July 16th. Melius began coverage on Schlumberger in a report on Wednesday, August 20th. They issued a "buy" rating and a $82.00 price target on the stock. Piper Sandler cut their price target on Schlumberger from $44.00 to $42.00 and set a "neutral" rating on the stock in a report on Friday, July 18th. Melius Research began coverage on Schlumberger in a report on Wednesday, August 20th. They issued a "buy" rating and a $82.00 price target on the stock. Finally, 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. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, Schlumberger has a consensus rating of "Moderate Buy" and an average price target of $52.86.

Insider Activity at Schlumberger

In other news, insider Dianne B. Ralston sold 39,727 shares of the stock in a transaction that occurred on Friday, September 12th. The stock was sold at an average price of $36.08, for a total value of $1,433,350.16. Following the completion of the sale, the insider directly owned 202,201 shares of the company's stock, valued at $7,295,412.08. This represents a 16.42% decrease in their ownership of the stock. The sale 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 Stock Performance

Shares of Schlumberger stock opened at $35.58 on Monday. The company has a market cap of $53.14 billion, a PE ratio of 12.18, a price-to-earnings-growth ratio of 9.87 and a beta of 1.05. Schlumberger Limited has a 52 week low of $31.11 and a 52 week high of $46.15. The business has a 50 day moving average price of $34.82 and a 200-day moving average price of $35.72. 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 issued its quarterly earnings data on Friday, July 18th. The oil and gas company reported $0.74 EPS for the quarter, topping the consensus estimate of $0.73 by $0.01. The firm had revenue of $8.55 billion during the quarter, compared to the consensus estimate of $8.51 billion. Schlumberger had a return on equity of 20.99% and a net margin of 11.53%.The company's quarterly revenue was down 6.5% compared to the same quarter last year. During the same period in the prior year, the business posted $0.85 earnings per share. Equities analysts anticipate that Schlumberger Limited will post 3.38 earnings per share for the current fiscal year.

Schlumberger Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 9th. Stockholders of record on Wednesday, September 3rd will be paid a $0.285 dividend. The ex-dividend date of this dividend is Wednesday, September 3rd. This represents a $1.14 annualized dividend and a dividend yield of 3.2%. Schlumberger's dividend payout ratio is 39.04%.

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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