Schlumberger Limited (NYSE:SLB) Shares Sold by Sequoia Financial Advisors LLC

Sequoia Financial Advisors LLC decreased its holdings in Schlumberger Limited (NYSE:SLB - Free Report) by 83.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 81,040 shares of the oil and gas company's stock after selling 415,944 shares during the quarter. Sequoia Financial Advisors LLC's holdings in Schlumberger were worth $3,387,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in SLB. Brighton Jones LLC boosted its stake in shares of Schlumberger by 21.4% in the fourth quarter. Brighton Jones LLC now owns 6,611 shares of the oil and gas company's stock valued at $253,000 after purchasing an additional 1,166 shares during the period. Pine Valley Investments Ltd Liability Co purchased a new position in shares of Schlumberger in the fourth quarter valued at approximately $226,000. K.J. Harrison & Partners Inc purchased a new position in shares of Schlumberger in the fourth quarter valued at approximately $384,000. Proficio Capital Partners LLC purchased a new position in shares of Schlumberger in the fourth quarter valued at approximately $8,027,000. Finally, Versor Investments LP purchased a new position in Schlumberger in the fourth quarter worth approximately $859,000. Hedge funds and other institutional investors own 81.99% of the company's stock.

Schlumberger Stock Performance

Shares of Schlumberger stock traded up $0.18 during trading on Friday, reaching $34.01. The company's stock had a trading volume of 17,164,745 shares, compared to its average volume of 13,702,802. The company has a 50-day moving average price of $34.46 and a two-hundred day moving average price of $37.84. The firm has a market cap of $46.26 billion, a PE ratio of 11.53, a P/E/G ratio of 8.82 and a beta of 1.01. Schlumberger Limited has a fifty-two week low of $31.11 and a fifty-two week high of $50.94. The company has a current ratio of 1.24, a quick ratio of 0.93 and a debt-to-equity ratio of 0.51.

Schlumberger (NYSE:SLB - Get Free Report) last announced its earnings results 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). The business had revenue of $8.49 billion during the quarter, compared to analyst estimates of $8.64 billion. Schlumberger had a net margin of 11.62% and a return on equity of 21.76%. The business's revenue was down 2.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.75 earnings per share. On average, analysts forecast that Schlumberger Limited will post 3.38 EPS for the current year.

Schlumberger Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 10th. Stockholders of record on Wednesday, June 4th will be issued a $0.285 dividend. The ex-dividend date is Wednesday, June 4th. This represents a $1.14 dividend on an annualized basis and a dividend yield of 3.35%. Schlumberger's payout ratio is 38.64%.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Stifel Nicolaus decreased their price target on shares of Schlumberger from $58.00 to $54.00 and set a "buy" rating for the company in a research note on Monday, April 28th. Wells Fargo & Company decreased their price target on shares of Schlumberger from $46.00 to $43.00 and set an "overweight" rating for the company in a research note on Thursday, June 5th. Piper Sandler decreased their price target on shares of Schlumberger from $46.00 to $44.00 and set a "neutral" rating for the company in a research note on Tuesday, April 29th. Barclays decreased their price target on shares of Schlumberger from $53.00 to $48.00 and set an "overweight" rating for the company in a research note on Friday, April 25th. Finally, Jefferies Financial Group decreased 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. Four equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Schlumberger presently has an average rating of "Moderate Buy" and a consensus target price of $52.03.

Insider Activity

In other Schlumberger news, Director La Chevardiere Patrick De sold 5,000 shares of the business'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 transaction, the director now directly owns 23,525 shares of the company's stock, valued at approximately $789,969.50. The trade was a 17.53% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.26% of the company's stock.

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.