Schlumberger Limited (NYSE:SLB) Shares Sold by Azimuth Capital Investment Management LLC

Key Points

• Azimuth Capital Investment Management LLC reduced its stake in Schlumberger Limited by 7.5%, now holding 293,678 shares valued at approximately $12.3 million.
• Recent analyst upgrades have generally lowered price targets for SLB shares, with the consensus rating currently at "Moderate Buy" and a price target of $49.28.
• Schlumberger announced a quarterly dividend of $0.285 per share, with a scheduled payment date of October 9th, reflecting an annualized yield of 3.4%.

Azimuth Capital Investment Management LLC trimmed its position in shares of Schlumberger Limited (NYSE:SLB - Free Report) by 7.5% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 293,678 shares of the oil and gas company's stock after selling 23,906 shares during the period. Azimuth Capital Investment Management LLC's holdings in Schlumberger were worth $12,276,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. First Command Advisory Services Inc. lifted its stake in shares of Schlumberger by 300.0% in 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 during the period. Atlas Capital Advisors Inc. acquired a new stake in shares of Schlumberger in the 1st quarter worth approximately $33,000. Alpine Bank Wealth Management acquired a new stake in shares of Schlumberger in the 1st quarter worth approximately $34,000. True Wealth Design LLC lifted its stake in shares of Schlumberger by 584.7% in the 4th quarter. True Wealth Design LLC now owns 986 shares of the oil and gas company's stock worth $38,000 after acquiring an additional 842 shares during the period. Finally, Park Square Financial Group LLC acquired a new stake in shares of Schlumberger in the 1st quarter worth approximately $38,000. 81.99% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on SLB shares. Jefferies Financial Group reduced their price target on shares of Schlumberger from $54.00 to $53.00 and set a "buy" rating for the company in a research note on Thursday, June 26th. Barclays reduced their price target 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. JPMorgan Chase & Co. reduced their price target 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. Susquehanna dropped their target price on shares of Schlumberger from $44.00 to $42.00 and set a "positive" rating on the stock in a report on Monday, July 21st. Finally, Wells Fargo & Company downgraded shares of Schlumberger from a "strong-buy" rating to a "hold" rating in a report on Sunday, July 20th. Four 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 stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $49.28.

Schlumberger Stock Down 0.9%

SLB stock opened at $33.24 on Friday. Schlumberger Limited has a 52-week low of $31.11 and a 52-week high of $46.16. The company's 50 day simple moving average is $34.69 and its 200-day simple moving average is $36.65. 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 firm has a market capitalization of $44.92 billion, a P/E ratio of 11.38, a P/E/G ratio of 9.31 and a beta of 1.03.

Schlumberger (NYSE:SLB - Get Free Report) last released its quarterly earnings results on Friday, July 18th. The oil and gas company reported $0.74 earnings per share (EPS) 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 quarter in the previous year, the business earned $0.85 earnings per share. The firm's revenue was down 6.5% compared to the same quarter last year. As a group, equities research analysts anticipate that Schlumberger Limited will post 3.38 EPS for the current 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 issued a dividend of $0.285 per share. The ex-dividend date is Wednesday, September 3rd. This represents a $1.14 dividend on an annualized basis and a dividend yield of 3.4%. Schlumberger's payout ratio is currently 39.04%.

Insider Activity

In other Schlumberger news, Director La Chevardiere Patrick De sold 5,000 shares of the company's stock in a transaction that occurred 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 transaction, the director owned 23,525 shares in the company, valued at approximately $789,969.50. This represents a 17.53% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.26% of the stock is owned by corporate insiders.

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.

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