US Bancorp DE Sells 366,839 Shares of Schlumberger Limited $SLB

Key Points

• US Bancorp DE reduced its stake in Schlumberger Limited by 19.8%, selling 366,839 shares and retaining 1,482,631 shares valued at approximately $50.1 million.
• Schlumberger reported a quarterly EPS of $0.74, slightly surpassing expectations, but noted a 6.5% decline in revenue year-over-year, amounting to $8.55 billion.
• The company announced a quarterly dividend of $0.285 per share, reflecting a 3.4% yield with a payout ratio of 39.04%.

US Bancorp DE reduced its stake in shares of Schlumberger Limited (NYSE:SLB - Free Report) by 19.8% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,482,631 shares of the oil and gas company's stock after selling 366,839 shares during the quarter. US Bancorp DE owned 0.11% of Schlumberger worth $50,114,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. First Command Advisory Services Inc. grew its stake in shares of Schlumberger by 300.0% during the first quarter. First Command Advisory Services Inc. now owns 636 shares of the oil and gas company's stock valued at $27,000 after buying an additional 477 shares during the last quarter. Atticus Wealth Management LLC bought a new position in shares of Schlumberger during the second quarter valued at about $29,000. Atlas Capital Advisors Inc. bought a new position in shares of Schlumberger during the first quarter valued at about $33,000. Thurston Springer Miller Herd & Titak Inc. grew its stake in shares of Schlumberger by 55.3% during the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 983 shares of the oil and gas company's stock valued at $33,000 after buying an additional 350 shares during the last quarter. Finally, Alpine Bank Wealth Management bought a new position in shares of Schlumberger during the first quarter valued at about $34,000. 81.99% of the stock is owned by institutional investors.

Schlumberger Stock Performance

Shares of SLB opened at $33.11 on Friday. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.31 and a quick ratio of 0.98. Schlumberger Limited has a one year low of $31.11 and a one year high of $45.12. The company has a 50-day simple moving average of $34.56 and a two-hundred day simple moving average of $34.99. The firm has a market capitalization of $49.45 billion, a PE ratio of 11.34, a price-to-earnings-growth ratio of 9.44 and a beta of 0.97.

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

Schlumberger Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 9th. Shareholders of record on Wednesday, September 3rd were issued a $0.285 dividend. The ex-dividend date was Wednesday, September 3rd. This represents a $1.14 annualized dividend and a yield of 3.4%. Schlumberger's dividend payout ratio (DPR) is 39.04%.

Insider Buying and Selling

In other Schlumberger news, insider Dianne B. Ralston sold 39,727 shares of the firm'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 completion of the sale, the insider directly owned 202,201 shares in the company, valued at $7,295,412.08. This trade represents a 16.42% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 0.22% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the company. Stifel Nicolaus reduced their price objective on Schlumberger from $54.00 to $52.00 and set a "buy" rating on the stock in a research note on Wednesday, July 16th. Wells Fargo & Company cut Schlumberger from a "strong-buy" rating to a "hold" rating in a research note on Sunday, July 20th. Weiss Ratings reiterated a "hold (c-)" rating on shares of Schlumberger in a report on Wednesday. Jefferies Financial Group dropped their target price on shares of Schlumberger from $54.00 to $53.00 and set a "buy" rating for the company in a report on Thursday, June 26th. Finally, UBS Group dropped their target price on shares of Schlumberger from $45.00 to $44.00 and set a "buy" rating for the company in a report on Wednesday, August 20th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and six have issued a Hold rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target 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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