Nwam LLC Sells 4,449 Shares of Schlumberger Limited (NYSE:SLB)

Nwam LLC lowered its position in shares of Schlumberger Limited (NYSE:SLB) by 29.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 10,837 shares of the oil and gas company’s stock after selling 4,449 shares during the period. Nwam LLC’s holdings in Schlumberger were worth $594,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Banco BTG Pactual S.A. lifted its stake in shares of Schlumberger by 160.7% in the 1st quarter. Banco BTG Pactual S.A. now owns 21,144 shares of the oil and gas company’s stock valued at $1,159,000 after acquiring an additional 13,033 shares during the last quarter. Lord Abbett & CO. LLC lifted its stake in shares of Schlumberger by 0.8% in the 1st quarter. Lord Abbett & CO. LLC now owns 948,045 shares of the oil and gas company’s stock valued at $51,962,000 after acquiring an additional 7,463 shares during the last quarter. Kingsview Wealth Management LLC lifted its stake in shares of Schlumberger by 114.9% in the 1st quarter. Kingsview Wealth Management LLC now owns 52,858 shares of the oil and gas company’s stock valued at $2,897,000 after acquiring an additional 28,256 shares during the last quarter. Alpha Family Trust bought a new stake in shares of Schlumberger in the 1st quarter valued at about $201,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in shares of Schlumberger by 19.5% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,746,189 shares of the oil and gas company’s stock valued at $95,709,000 after acquiring an additional 284,898 shares during the last quarter. Institutional investors own 81.99% of the company’s stock.

Schlumberger Stock Up 1.9 %

SLB stock opened at $49.67 on Friday. Schlumberger Limited has a fifty-two week low of $42.61 and a fifty-two week high of $62.12. The business’s 50 day moving average price is $46.30 and its two-hundred day moving average price is $49.06. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.02 and a current ratio of 1.37. The company has a market capitalization of $71.00 billion, a price-to-earnings ratio of 16.50, a price-to-earnings-growth ratio of 1.06 and a beta of 1.55.

Schlumberger (NYSE:SLB) last posted its earnings results on Friday, July 19th. The oil and gas company reported $0.85 earnings per share for the quarter, topping analysts’ consensus estimates of $0.83 by $0.02. Schlumberger had a return on equity of 21.88% and a net margin of 12.72%. The firm had revenue of $9.14 billion for the quarter, compared to the consensus estimate of $9.08 billion. During the same quarter in the prior year, the business earned $0.72 EPS. The business’s revenue for the quarter was up 12.8% on a year-over-year basis. As a group, analysts forecast that Schlumberger Limited will post 3.48 earnings per share for the current fiscal year.

Schlumberger Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 10th. Investors of record on Wednesday, September 4th will be paid a $0.275 dividend. This represents a $1.10 annualized dividend and a dividend yield of 2.21%. Schlumberger’s payout ratio is currently 36.54%.

Analyst Upgrades and Downgrades

SLB has been the subject of a number of recent research reports. Royal Bank of Canada boosted their target price on Schlumberger from $66.00 to $69.00 and gave the company an “outperform” rating in a research note on Wednesday, April 3rd. HSBC reaffirmed a “buy” rating and set a $71.00 price target on shares of Schlumberger in a research report on Thursday, April 4th. Piper Sandler lowered their price target on Schlumberger from $71.00 to $66.00 and set an “overweight” rating for the company in a research report on Monday, July 15th. Wells Fargo & Company lowered Schlumberger from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $68.00 to $53.00 in a research report on Monday, April 29th. Finally, TD Cowen lowered their price target on Schlumberger from $64.00 to $63.00 and set a “buy” rating for the company in a research report on Monday, April 22nd. Two equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $67.29.

Insider Buying and Selling

In related news, insider Gavin Rennick sold 38,083 shares of the company’s stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of $48.28, for a total value of $1,838,647.24. Following the sale, the insider now owns 45,851 shares in the company, valued at approximately $2,213,686.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, insider Gavin Rennick sold 38,083 shares of the company’s stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of $48.28, for a total value of $1,838,647.24. Following the sale, the insider now owns 45,851 shares in the company, valued at approximately $2,213,686.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Bejar Carmen Rando sold 4,980 shares of the company’s stock in a transaction that occurred on Friday, June 7th. The stock was sold at an average price of $43.43, for a total value of $216,281.40. Following the completion of the sale, the insider now owns 22,518 shares in the company, valued at approximately $977,956.74. The disclosure for this sale can be found here. Insiders have sold 106,158 shares of company stock worth $5,099,893 in the last 90 days. Insiders own 0.26% of the company’s stock.

About Schlumberger

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.