Schlumberger Limited $SLB Shares Sold by Van Hulzen Asset Management LLC

Key Points

• Van Hulzen Asset Management LLC has reduced its stake in Schlumberger Limited by 34.8%, now holding shares worth approximately $9.16 million after selling 117,204 shares in the first quarter.
• Schlumberger recently reported earnings of $0.74 per share, beating analysts' expectations, but experienced a 6.5% decline in revenue year-over-year with quarterly revenue at $8.55 billion.
• The company announced a quarterly dividend of $0.285 per share, which will be paid on October 9th, representing an annualized yield of 3.4% and a payout ratio of 39.04%.

Van Hulzen Asset Management LLC lowered its stake in shares of Schlumberger Limited (NYSE:SLB - Free Report) by 34.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 219,222 shares of the oil and gas company's stock after selling 117,204 shares during the quarter. Van Hulzen Asset Management LLC's holdings in Schlumberger were worth $9,163,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also added to or reduced their stakes in the company. Nuveen LLC purchased a new stake in shares of Schlumberger during the first quarter valued at about $169,232,000. Scharf Investments LLC lifted its position in shares of Schlumberger by 20.5% during the first quarter. Scharf Investments LLC now owns 1,653,895 shares of the oil and gas company's stock valued at $69,133,000 after buying an additional 281,773 shares during the last quarter. Integrated Advisors Network LLC lifted its position in shares of Schlumberger by 810.4% during the first quarter. Integrated Advisors Network LLC now owns 75,163 shares of the oil and gas company's stock valued at $3,142,000 after buying an additional 66,907 shares during the last quarter. Alan B Lancz & Associates Inc. purchased a new stake in shares of Schlumberger during the first quarter valued at about $308,000. Finally, Stratos Investment Management LLC lifted its position in shares of Schlumberger by 236.0% during the first quarter. Stratos Investment Management LLC now owns 146,908 shares of the oil and gas company's stock valued at $6,141,000 after buying an additional 103,182 shares during the last quarter. 81.99% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have commented on SLB shares. Morgan Stanley decreased their price target on shares of Schlumberger from $50.00 to $45.00 and set an "overweight" rating for the company in a research report on Friday, May 16th. Piper Sandler decreased their price target on shares of Schlumberger from $44.00 to $42.00 and set a "neutral" rating for the company in a research report on Friday, July 18th. Melius initiated coverage on shares of Schlumberger in a research report on Wednesday. They set a "buy" rating and a $82.00 price target for the company. Atb Cap Markets upgraded shares of Schlumberger from a "hold" rating to a "strong-buy" rating in a report on Tuesday, July 1st. Finally, Jefferies Financial Group cut their price objective on shares of Schlumberger from $54.00 to $53.00 and set a "buy" rating on the stock in a report on Thursday, June 26th. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, Schlumberger currently has an average rating of "Moderate Buy" and a consensus price target of $52.86.

Schlumberger Stock Performance

NYSE SLB traded up $1.7650 during trading hours on Friday, reaching $35.5750. The stock had a trading volume of 16,023,117 shares, compared to its average volume of 12,363,398. The stock has a fifty day moving average of $34.51 and a 200 day moving average of $36.30. The stock has a market cap of $48.07 billion, a P/E ratio of 12.18, a price-to-earnings-growth ratio of 9.88 and a beta of 1.03. Schlumberger Limited has a 52-week low of $31.11 and a 52-week high of $46.16. 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 issued its earnings results on Friday, July 18th. The oil and gas company reported $0.74 EPS for the quarter, beating analysts' consensus estimates of $0.73 by $0.01. The firm had revenue of $8.55 billion for the quarter, compared to analyst estimates of $8.51 billion. Schlumberger had a return on equity of 20.99% and a net margin of 11.53%.Schlumberger's revenue for the quarter was down 6.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.85 earnings per share. Sell-side analysts predict that Schlumberger Limited will post 3.38 earnings per share for the current year.

Schlumberger Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 9th. Investors of record on Wednesday, September 3rd will be given a $0.285 dividend. The ex-dividend date is Wednesday, September 3rd. This represents a $1.14 dividend on an annualized basis and a yield of 3.2%. Schlumberger's dividend payout ratio is currently 39.04%.

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.