Schlumberger Limited $SLB Shares Sold by Parallel Advisors LLC

Key Points

• Parallel Advisors LLC trimmed its stake in Schlumberger Limited by 32.5%, reducing its holdings to 17,475 shares valued at approximately $591,000.
• Analysts have lowered their price targets for Schlumberger, with JPMorgan and Barclays reducing theirs to $44.00 and $46.00, respectively, while Melius set a new target at $82.00 with a buy rating.
• Schlumberger declared a quarterly dividend of $0.285 per share, representing an annual yield of 3.3%, with an ex-dividend date set for September 3rd.

Parallel Advisors LLC trimmed its holdings in Schlumberger Limited (NYSE:SLB - Free Report) by 32.5% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 17,475 shares of the oil and gas company's stock after selling 8,425 shares during the period. Parallel Advisors LLC's holdings in Schlumberger were worth $591,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in SLB. Nuveen LLC acquired a new stake in shares of Schlumberger during the 1st quarter valued at approximately $169,232,000. Scharf Investments LLC raised its position in shares of Schlumberger by 20.5% during the 1st quarter. Scharf Investments LLC now owns 1,653,895 shares of the oil and gas company's stock valued at $69,133,000 after acquiring an additional 281,773 shares in the last quarter. Integrated Advisors Network LLC raised its position in shares of Schlumberger by 810.4% during the 1st quarter. Integrated Advisors Network LLC now owns 75,163 shares of the oil and gas company's stock valued at $3,142,000 after acquiring an additional 66,907 shares in the last quarter. Alan B Lancz & Associates Inc. acquired a new stake in shares of Schlumberger during the 1st quarter valued at approximately $308,000. Finally, Stratos Investment Management LLC raised its position in shares of Schlumberger by 236.0% during the 1st quarter. Stratos Investment Management LLC now owns 146,908 shares of the oil and gas company's stock valued at $6,141,000 after acquiring an additional 103,182 shares in the last quarter. 81.99% of the stock is owned by institutional investors and hedge funds.

Schlumberger Stock Performance

Shares of NYSE:SLB traded up $0.97 on Tuesday, hitting $34.89. The company's stock had a trading volume of 3,224,808 shares, compared to its average volume of 16,278,058. Schlumberger Limited has a 12 month low of $31.11 and a 12 month high of $46.15. The company has a market capitalization of $52.11 billion, a price-to-earnings ratio of 11.96, a price-to-earnings-growth ratio of 9.56 and a beta of 1.05. The stock's 50-day moving average is $34.62 and its two-hundred day moving average is $35.49. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.98 and a current ratio of 1.31.

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, topping 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 company had revenue of $8.55 billion during the quarter, compared to analysts' expectations of $8.51 billion. During the same quarter in the prior year, the business posted $0.85 earnings per share. The company's revenue for the quarter was down 6.5% compared to the same quarter last year. On average, equities research analysts forecast that Schlumberger Limited will post 3.38 EPS for the current year.

Schlumberger Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 9th. Stockholders of record on Wednesday, September 3rd will be issued a $0.285 dividend. The ex-dividend date is Wednesday, September 3rd. This represents a $1.14 annualized dividend and a dividend yield of 3.3%. Schlumberger's dividend payout ratio is 39.04%.

Wall Street Analyst Weigh In

SLB has been the topic of several research reports. Atb Cap Markets raised Schlumberger from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, July 1st. Wells Fargo & Company lowered Schlumberger from a "strong-buy" rating to a "hold" rating in a research report on Sunday, July 20th. Melius Research started coverage on Schlumberger in a research report on Wednesday, August 20th. They set a "buy" rating and a $82.00 price target on the stock. Piper Sandler lowered their price objective on Schlumberger from $44.00 to $42.00 and set a "neutral" rating for the company in a research note on Friday, July 18th. Finally, Susquehanna lowered their price objective on Schlumberger from $44.00 to $42.00 and set a "positive" rating for the company in a research note on Monday, July 21st. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, Schlumberger currently has a consensus rating of "Moderate Buy" and a consensus target price of $52.18.

Insider Buying and Selling at Schlumberger

In other news, insider Dianne B. Ralston sold 39,727 shares of the company's stock in a transaction on Friday, September 12th. The stock was sold at an average price of $36.08, for a total value of $1,433,350.16. Following the completion of the sale, the insider owned 202,201 shares in the company, valued at $7,295,412.08. This represents a 16.42% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 0.22% of the stock is currently owned by company insiders.

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.