Callahan Advisors LLC Sells 22,936 Shares of Schlumberger Limited (NYSE:SLB)

Callahan Advisors LLC lowered its position in Schlumberger Limited (NYSE:SLB - Free Report) by 9.1% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 228,188 shares of the oil and gas company's stock after selling 22,936 shares during the quarter. Callahan Advisors LLC's holdings in Schlumberger were worth $9,538,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the stock. Park Square Financial Group LLC bought a new position in Schlumberger in the 1st quarter worth about $38,000. Gateway Wealth Partners LLC bought a new position in Schlumberger in the 1st quarter worth about $218,000. Xponance Inc. boosted its stake in Schlumberger by 1.5% in the 1st quarter. Xponance Inc. now owns 203,712 shares of the oil and gas company's stock worth $8,515,000 after purchasing an additional 3,012 shares during the period. Cerity Partners LLC boosted its stake in Schlumberger by 31.1% in the 1st quarter. Cerity Partners LLC now owns 404,282 shares of the oil and gas company's stock worth $16,899,000 after purchasing an additional 95,810 shares during the period. Finally, Alan B Lancz & Associates Inc. bought a new position in Schlumberger in the 1st quarter worth about $308,000. Institutional investors own 81.99% of the company's stock.

Schlumberger Trading Up 1.9%

Shares of SLB traded up $0.70 during mid-day trading on Friday, hitting $37.35. 11,333,547 shares of the company's stock traded hands, compared to its average volume of 13,866,867. The company has a quick ratio of 0.93, a current ratio of 1.24 and a debt-to-equity ratio of 0.51. Schlumberger Limited has a 1 year low of $31.11 and a 1 year high of $50.94. The firm has a market capitalization of $50.80 billion, a P/E ratio of 12.66, a PEG ratio of 9.69 and a beta of 1.01. The business's 50-day moving average price is $34.72 and its 200-day moving average price is $37.64.

Schlumberger (NYSE:SLB - Get Free Report) last released its quarterly earnings results on Friday, April 25th. The oil and gas company reported $0.72 earnings per share for the quarter, missing the consensus estimate of $0.73 by ($0.01). Schlumberger had a net margin of 11.62% and a return on equity of 21.76%. The firm had revenue of $8.49 billion for the quarter, compared to the consensus estimate of $8.64 billion. During the same quarter in the prior year, the firm earned $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 declared a quarterly dividend, which was paid on Thursday, July 10th. Investors of record on Wednesday, June 4th were given a dividend of $0.285 per share. The ex-dividend date of this dividend was Wednesday, June 4th. This represents a $1.14 annualized dividend and a dividend yield of 3.05%. Schlumberger's dividend payout ratio is presently 38.64%.

Insider Buying and Selling at Schlumberger

In related news, Director La Chevardiere Patrick De sold 5,000 shares of Schlumberger stock in a transaction that occurred on Thursday, May 22nd. The stock was sold at an average price of $33.58, for a total transaction of $167,900.00. Following the sale, the director directly owned 23,525 shares in the company, valued at $789,969.50. The trade was a 17.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.26% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several brokerages have commented on SLB. Stifel Nicolaus cut their target price on Schlumberger from $58.00 to $54.00 and set a "buy" rating for the company in a research note on Monday, April 28th. Susquehanna dropped their price target on Schlumberger from $46.00 to $44.00 and set a "positive" rating for the company in a research report on Tuesday, July 1st. Morgan Stanley dropped their price target on Schlumberger from $50.00 to $45.00 and set an "overweight" rating for the company in a research report on Friday, May 16th. JPMorgan Chase & Co. dropped their price target on Schlumberger from $46.00 to $44.00 and set an "overweight" rating for the company in a research report on Monday, June 30th. Finally, Jefferies Financial Group dropped their price target on Schlumberger from $54.00 to $53.00 and set a "buy" rating for the company in a research report on Thursday, June 26th. Three research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, Schlumberger currently has a consensus rating of "Moderate Buy" and an average price target of $50.79.

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.