Reliant Investment Management LLC Sells 117,082 Shares of Schlumberger Limited (NYSE:SLB)

Reliant Investment Management LLC reduced its stake in Schlumberger Limited (NYSE:SLB - Free Report) by 92.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,061 shares of the oil and gas company's stock after selling 117,082 shares during the period. Reliant Investment Management LLC's holdings in Schlumberger were worth $421,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. TCW Group Inc. lifted its holdings in Schlumberger by 1.3% during the 4th quarter. TCW Group Inc. now owns 19,797 shares of the oil and gas company's stock valued at $759,000 after buying an additional 259 shares in the last quarter. Vident Advisory LLC boosted its stake in Schlumberger by 1.0% during the fourth quarter. Vident Advisory LLC now owns 27,838 shares of the oil and gas company's stock worth $1,067,000 after buying an additional 273 shares during the period. Glen Eagle Advisors LLC boosted its stake in Schlumberger by 3.7% during the fourth quarter. Glen Eagle Advisors LLC now owns 7,843 shares of the oil and gas company's stock worth $301,000 after buying an additional 282 shares during the period. Cromwell Holdings LLC boosted its stake in shares of Schlumberger by 7.0% in the fourth quarter. Cromwell Holdings LLC now owns 4,350 shares of the oil and gas company's stock valued at $167,000 after purchasing an additional 283 shares during the period. Finally, Laidlaw Wealth Management LLC lifted its stake in Schlumberger by 1.3% in the fourth quarter. Laidlaw Wealth Management LLC now owns 23,085 shares of the oil and gas company's stock worth $885,000 after acquiring an additional 305 shares during the last quarter. Hedge funds and other institutional investors own 81.99% of the company's stock.

Insider Buying and Selling

In other news, Director La Chevardiere Patrick De sold 5,000 shares of Schlumberger stock in a transaction dated Thursday, May 22nd. The shares were sold at an average price of $33.58, for a total transaction of $167,900.00. Following the sale, the director now directly owns 23,525 shares in the company, valued at approximately $789,969.50. The trade was a 17.53% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Aparna Raman sold 25,133 shares of the stock in a transaction dated Friday, March 28th. The stock was sold at an average price of $42.28, for a total transaction of $1,062,623.24. Following the sale, the insider now owns 31,031 shares of the company's stock, valued at $1,311,990.68. This trade represents a 44.75% decrease in their position. The disclosure for this sale can be found here. 0.26% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research analysts have weighed in on SLB shares. Stifel Nicolaus cut their price target on Schlumberger from $58.00 to $54.00 and set a "buy" rating for the company in a report on Monday, April 28th. Susquehanna reduced their price objective on Schlumberger from $48.00 to $46.00 and set a "positive" rating on the stock in a research note on Monday, April 28th. Wells Fargo & Company reduced their price objective on Schlumberger from $46.00 to $43.00 and set an "overweight" rating on the stock in a research note on Thursday. Barclays dropped their target price on Schlumberger from $53.00 to $48.00 and set an "overweight" rating on the stock in a research report on Friday, April 25th. Finally, Piper Sandler lowered their price target on Schlumberger from $46.00 to $44.00 and set a "neutral" rating on the stock in a report on Tuesday, April 29th. Four research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $52.38.

Schlumberger Trading Up 2.4%

Shares of NYSE:SLB traded up $0.79 during midday trading on Friday, reaching $33.87. 10,406,499 shares of the company's stock were exchanged, compared to its average volume of 13,496,162. Schlumberger Limited has a fifty-two week low of $31.11 and a fifty-two week high of $50.94. The firm's 50 day simple moving average is $34.44 and its two-hundred day simple moving average is $38.67. The stock has a market cap of $46.07 billion, a price-to-earnings ratio of 10.89, a P/E/G ratio of 10.10 and a beta of 1.01. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.45 and a quick ratio of 1.11.

Schlumberger (NYSE:SLB - Get Free Report) last posted its quarterly earnings data on Friday, April 25th. The oil and gas company reported $0.72 EPS for the quarter, missing analysts' consensus estimates of $0.73 by ($0.01). Schlumberger had a net margin of 12.29% and a return on equity of 21.90%. The business had revenue of $8.49 billion during the quarter, compared to analyst estimates of $8.64 billion. During the same quarter in the prior year, the firm posted $0.75 earnings per share. The company's revenue for the quarter was down 2.5% compared to the same quarter last year. As a group, sell-side analysts forecast that Schlumberger Limited will post 3.38 EPS for the current fiscal year.

Schlumberger Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 10th. Shareholders of record on Wednesday, June 4th will be paid a dividend of $0.285 per share. This represents a $1.14 annualized dividend and a yield of 3.37%. The ex-dividend date of this dividend is Wednesday, June 4th. Schlumberger's payout ratio is currently 38.64%.

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.