WD Rutherford LLC Reduces Position in Schlumberger Limited (NYSE:SLB)

WD Rutherford LLC reduced its position in Schlumberger Limited (NYSE:SLB) by 15.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 11,295 shares of the oil and gas company’s stock after selling 2,120 shares during the quarter. WD Rutherford LLC’s holdings in Schlumberger were worth $533,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the business. Capital World Investors grew its position in Schlumberger by 72.3% in the 1st quarter. Capital World Investors now owns 88,950,956 shares of the oil and gas company’s stock valued at $4,875,402,000 after acquiring an additional 37,333,485 shares during the last quarter. Norges Bank purchased a new stake in shares of Schlumberger during the fourth quarter valued at $1,000,292,000. Price T Rowe Associates Inc. MD grew its holdings in shares of Schlumberger by 14.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 85,986,039 shares of the oil and gas company’s stock worth $4,712,897,000 after purchasing an additional 10,606,191 shares during the last quarter. Winslow Capital Management LLC increased its stake in Schlumberger by 123,063.5% in the 4th quarter. Winslow Capital Management LLC now owns 4,347,671 shares of the oil and gas company’s stock worth $226,253,000 after buying an additional 4,344,141 shares during the period. Finally, Boston Partners lifted its holdings in Schlumberger by 35.8% during the 1st quarter. Boston Partners now owns 11,640,827 shares of the oil and gas company’s stock valued at $635,883,000 after buying an additional 3,069,395 shares in the last quarter. Institutional investors own 81.99% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on SLB shares. UBS Group reduced their target price on shares of Schlumberger from $67.00 to $63.00 and set a “buy” rating on the stock in a research report on Tuesday, August 20th. Piper Sandler decreased their target price on Schlumberger from $71.00 to $66.00 and set an “overweight” rating for the company in a research report on Monday, July 15th. Bank of America dropped their price target on Schlumberger from $62.00 to $58.00 and set a “buy” rating on the stock in a research report on Monday, July 15th. TD Cowen raised their price target on Schlumberger from $62.00 to $64.00 and gave the company a “buy” rating in a research note on Monday, July 22nd. Finally, Benchmark reaffirmed a “buy” rating and issued a $68.00 price objective on shares of Schlumberger in a research note on Monday, July 22nd. Two investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $67.00.

Insider Buying and Selling

In other Schlumberger news, insider Bejar Carmen Rando sold 4,980 shares of the company’s stock in a transaction dated Friday, June 7th. The shares were sold at an average price of $43.43, for a total value of $216,281.40. Following the completion of the transaction, the insider now owns 22,518 shares in the company, valued at $977,956.74. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, insider Bejar Carmen Rando sold 4,980 shares of Schlumberger stock in a transaction on Friday, June 7th. The shares were sold at an average price of $43.43, for a total value of $216,281.40. Following the sale, the insider now owns 22,518 shares of the company’s stock, valued at approximately $977,956.74. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Mogharbel Khaled Al sold 120,668 shares of the company’s stock in a transaction dated Monday, July 22nd. The stock was sold at an average price of $50.19, for a total transaction of $6,056,326.92. Following the transaction, the executive vice president now owns 247,699 shares of the company’s stock, valued at approximately $12,432,012.81. The disclosure for this sale can be found here. Over the last three months, insiders have sold 185,696 shares of company stock valued at $9,264,905. Corporate insiders own 0.26% of the company’s stock.

Schlumberger Stock Performance

NYSE:SLB traded up $1.00 during midday trading on Friday, hitting $45.12. The company’s stock had a trading volume of 6,244,495 shares, compared to its average volume of 10,669,561. Schlumberger Limited has a fifty-two week low of $42.61 and a fifty-two week high of $62.12. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.49 and a quick ratio of 1.13. The firm has a market cap of $64.49 billion, a P/E ratio of 14.99, a P/E/G ratio of 0.96 and a beta of 1.55. The firm’s 50 day moving average is $46.13 and its 200-day moving average is $48.29.

Schlumberger (NYSE:SLB) last released its quarterly earnings data 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. The firm had revenue of $9.14 billion for the quarter, compared to analyst estimates of $9.08 billion. Schlumberger had a net margin of 12.56% and a return on equity of 21.92%. The business’s quarterly revenue was up 12.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.72 earnings per share. Equities analysts anticipate that Schlumberger Limited will post 3.49 earnings per share for the current fiscal year.

Schlumberger Dividend Announcement

The company also recently announced 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 2.44%. The ex-dividend date of this dividend is Wednesday, September 4th. Schlumberger’s dividend payout ratio is currently 36.54%.

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.