Schlumberger Limited $SLB Shares Sold by Coastline Trust Co

Key Points

• Coastline Trust Co has significantly reduced its holdings in Schlumberger Limited by 68.7%, now owning only 4,460 shares after selling 9,800 shares in the second quarter.
• Insider Dianne B. Ralston sold 39,727 shares of Schlumberger for approximately $1.43 million, marking a 16.42% decrease in her position in the company.
• Schlumberger recently declared a quarterly dividend of $0.285 per share, which results in an annualized dividend yield of 3.2%.

Coastline Trust Co reduced its position in Schlumberger Limited (NYSE:SLB - Free Report) by 68.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,460 shares of the oil and gas company's stock after selling 9,800 shares during the period. Coastline Trust Co's holdings in Schlumberger were worth $151,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Stockman Wealth Management Inc. raised its position in shares of Schlumberger by 14.0% in the second quarter. Stockman Wealth Management Inc. now owns 263,251 shares of the oil and gas company's stock worth $8,898,000 after acquiring an additional 32,314 shares during the period. Worth Financial Advisory Group LLC increased its stake in shares of Schlumberger by 74.4% in the 2nd quarter. Worth Financial Advisory Group LLC now owns 10,387 shares of the oil and gas company's stock valued at $351,000 after purchasing an additional 4,430 shares in the last quarter. Avior Wealth Management LLC raised its holdings in Schlumberger by 70.4% in the 2nd quarter. Avior Wealth Management LLC now owns 8,905 shares of the oil and gas company's stock worth $301,000 after purchasing an additional 3,678 shares during the period. Townsend Asset Management Corp NC ADV grew its holdings in Schlumberger by 5.2% in the second quarter. Townsend Asset Management Corp NC ADV now owns 108,079 shares of the oil and gas company's stock valued at $3,653,000 after purchasing an additional 5,309 shares during the period. Finally, First American Bank raised its stake in shares of Schlumberger by 8.3% during the 2nd quarter. First American Bank now owns 51,894 shares of the oil and gas company's stock worth $1,754,000 after buying an additional 3,963 shares during the period. Institutional investors and hedge funds own 81.99% of the company's stock.

Insider Activity

In other news, insider Dianne B. Ralston sold 39,727 shares of Schlumberger stock in a transaction that occurred on Friday, September 12th. The shares were sold at an average price of $36.08, for a total transaction of $1,433,350.16. Following the sale, the insider owned 202,201 shares of the company's stock, valued at approximately $7,295,412.08. The trade was a 16.42% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.22% of the stock is owned by corporate insiders.

Schlumberger Stock Up 2.7%

SLB stock opened at $35.51 on Friday. The company has a current ratio of 1.31, a quick ratio of 0.98 and a debt-to-equity ratio of 0.51. The firm has a 50-day moving average of $34.65 and a two-hundred day moving average of $35.36. Schlumberger Limited has a 12 month low of $31.11 and a 12 month high of $46.15. The company has a market cap of $53.04 billion, a price-to-earnings ratio of 12.16, a PEG ratio of 9.86 and a beta of 1.05.

Schlumberger (NYSE:SLB - Get Free Report) last posted its quarterly earnings results on Friday, July 18th. The oil and gas company reported $0.74 EPS for the quarter, beating the consensus estimate of $0.73 by $0.01. Schlumberger had a return on equity of 20.99% and a net margin of 11.53%.The firm had revenue of $8.55 billion during the quarter, compared to analysts' expectations of $8.51 billion. During the same quarter last year, the firm earned $0.85 earnings per share. The business's revenue for the quarter was down 6.5% on a year-over-year basis. As a group, analysts forecast that Schlumberger Limited will post 3.38 earnings per share for the current fiscal 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 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%.

Wall Street Analyst Weigh In

SLB has been the topic of a number of research analyst reports. Piper Sandler dropped their price target on shares of Schlumberger from $44.00 to $42.00 and set a "neutral" rating on the stock in a research note on Friday, July 18th. Jefferies Financial Group dropped their target price on shares of Schlumberger from $54.00 to $53.00 and set a "buy" rating on the stock in a research report on Thursday, June 26th. Zacks Research upgraded shares of Schlumberger from a "strong sell" rating to a "hold" rating in a research report on Monday, September 15th. Melius initiated coverage on Schlumberger in a research note on Wednesday, August 20th. They set a "buy" rating and a $82.00 price objective for the company. Finally, Stifel Nicolaus reduced their target price on Schlumberger from $54.00 to $52.00 and set a "buy" rating for the company in a report on Wednesday, July 16th. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and five have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $52.18.

Schlumberger Company 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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