Sequoia Financial Advisors LLC Sells 8,759 Shares of Schlumberger Limited $SLB

Key Points

• Sequoia Financial Advisors LLC has reduced its stake in Schlumberger Limited by 10.8% during the 2nd quarter, selling 8,759 shares, leaving it with 72,281 shares worth approximately $2.44 million.
• Despite a 6.5% revenue decline year-over-year, Schlumberger reported earnings of $0.74 per share, slightly surpassing analysts' expectations of $0.73.
• Analysts remain optimistic, with a consensus target price of $52.06 and ratings including 2 Strong Buy and 12 Buy ratings.

Sequoia Financial Advisors LLC reduced its stake in shares of Schlumberger Limited (NYSE:SLB - Free Report) by 10.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 72,281 shares of the oil and gas company's stock after selling 8,759 shares during the period. Sequoia Financial Advisors LLC's holdings in Schlumberger were worth $2,443,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the stock. EntryPoint Capital LLC boosted its stake in Schlumberger by 4.5% in the 1st quarter. EntryPoint Capital LLC now owns 7,348 shares of the oil and gas company's stock worth $307,000 after purchasing an additional 316 shares during the period. Heritage Wealth Management Inc. Texas boosted its stake in Schlumberger by 2.2% in the 1st quarter. Heritage Wealth Management Inc. Texas now owns 14,736 shares of the oil and gas company's stock worth $616,000 after purchasing an additional 318 shares during the period. Horizon Investments LLC boosted its stake in Schlumberger by 1.5% in the 1st quarter. Horizon Investments LLC now owns 22,633 shares of the oil and gas company's stock worth $946,000 after purchasing an additional 330 shares during the period. CreativeOne Wealth LLC boosted its stake in Schlumberger by 6.3% in the 1st quarter. CreativeOne Wealth LLC now owns 5,655 shares of the oil and gas company's stock worth $236,000 after purchasing an additional 335 shares during the period. Finally, Forza Wealth Management LLC boosted its stake in Schlumberger by 5.8% in the 1st quarter. Forza Wealth Management LLC now owns 6,374 shares of the oil and gas company's stock worth $266,000 after purchasing an additional 350 shares during the period. 81.99% of the stock is currently owned by institutional investors.

Schlumberger Trading Down 0.0%

Schlumberger stock opened at $32.55 on Thursday. 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 50-day moving average of $34.49 and a 200-day moving average of $34.71. The company has a market cap of $48.62 billion, a price-to-earnings ratio of 11.15, a P/E/G ratio of 9.06 and a beta of 0.97. Schlumberger Limited has a one year low of $31.11 and a one year high of $44.97.

Schlumberger (NYSE:SLB - Get Free Report) last issued its 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. The company had revenue of $8.55 billion for the quarter, compared to analysts' expectations of $8.51 billion. Schlumberger had a net margin of 11.53% and a return on equity of 20.99%. Schlumberger's quarterly revenue was down 6.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.85 EPS. On average, equities analysts expect that Schlumberger Limited will post 3.38 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. UBS Group reduced their target price on shares of Schlumberger from $45.00 to $44.00 and set a "buy" rating for the company in a research note on Wednesday, August 20th. Atb Cap Markets raised shares of Schlumberger from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, July 1st. Melius assumed coverage on shares of Schlumberger in a research note on Wednesday, August 20th. They set a "buy" rating and a $82.00 price objective for the company. Susquehanna reduced their price objective on shares of Schlumberger from $44.00 to $42.00 and set a "positive" rating for the company in a research note on Monday, July 21st. Finally, JPMorgan Chase & Co. reduced their price objective 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. Two investment analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $52.06.

Insider Activity

In other news, insider Dianne B. Ralston sold 39,727 shares of the company's stock in a transaction dated Friday, September 12th. The shares were sold at an average price of $36.08, for a total value of $1,433,350.16. Following the sale, the insider directly owned 202,201 shares of the company's stock, valued at approximately $7,295,412.08. This represents a 16.42% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.22% of the company's stock.

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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