Thomas Story & Son LLC Sells 2,980 Shares of Schlumberger Limited (NYSE:SLB)

Thomas Story & Son LLC decreased its position in Schlumberger Limited (NYSE:SLB) by 11.5% during the 1st quarter, Holdings Channel.com reports. The fund owned 22,825 shares of the oil and gas company’s stock after selling 2,980 shares during the quarter. Thomas Story & Son LLC’s holdings in Schlumberger were worth $954,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. First Command Advisory Services Inc. raised its stake in shares of Schlumberger by 300.0% in the 1st quarter. First Command Advisory Services Inc. now owns 636 shares of the oil and gas company’s stock valued at $27,000 after purchasing an additional 477 shares during the period. Atlas Capital Advisors Inc. acquired a new position in shares of Schlumberger during the 1st quarter worth approximately $33,000. Alpine Bank Wealth Management bought a new stake in shares of Schlumberger during the 1st quarter valued at $34,000. True Wealth Design LLC increased its holdings in Schlumberger by 584.7% in the 4th quarter. True Wealth Design LLC now owns 986 shares of the oil and gas company’s stock valued at $38,000 after buying an additional 842 shares during the period. Finally, Park Square Financial Group LLC acquired a new stake in shares of Schlumberger in the 1st quarter valued at $38,000. Institutional investors own 81.99% of the company’s stock.

Schlumberger Trading Down 1.4%

NYSE SLB opened at $32.40 on Tuesday. The company has a market capitalization of $43.78 billion, a price-to-earnings ratio of 11.10, a PEG ratio of 9.12 and a beta of 1.03. The company has a quick ratio of 0.98, a current ratio of 1.31 and a debt-to-equity ratio of 0.51. Schlumberger Limited has a twelve month low of $31.11 and a twelve month high of $46.16. The stock’s 50-day simple moving average is $34.70 and its two-hundred day simple moving average is $36.77.

Schlumberger (NYSE:SLB) last posted its quarterly earnings results on Friday, July 18th. The oil and gas company reported $0.74 earnings per share (EPS) for the quarter, beating 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 in the prior year, the business posted $0.85 earnings per share. The company’s revenue was down 6.5% on a year-over-year basis. Research analysts forecast that Schlumberger Limited will post 3.38 EPS for the current fiscal year.

Schlumberger Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 9th. Shareholders of record on Wednesday, September 3rd will be given a dividend of $0.285 per share. The ex-dividend date of this dividend is Wednesday, September 3rd. This represents a $1.14 dividend on an annualized basis and a yield of 3.5%. Schlumberger’s dividend payout ratio is presently 39.04%.

Insider Buying and Selling

In related news, Director La Chevardiere Patrick De sold 5,000 shares of the firm’s stock in a transaction on Thursday, May 22nd. The stock was sold at an average price of $33.58, for a total value of $167,900.00. Following the completion of the sale, the director owned 23,525 shares of the company’s stock, valued at $789,969.50. This trade represents a 17.53% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.26% of the stock is owned by insiders.

Analyst Ratings Changes

SLB has been the topic of a number of research reports. 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 report on Wednesday, July 16th. JPMorgan Chase & Co. dropped their target price on shares of Schlumberger from $46.00 to $44.00 and set an “overweight” rating on the stock in a research report on Monday, June 30th. Wells Fargo & Company cut shares of Schlumberger from a “strong-buy” rating to a “hold” rating in a report on Sunday, July 20th. Piper Sandler cut their target price on Schlumberger from $44.00 to $42.00 and set a “neutral” rating on the stock in a research note on Friday, July 18th. Finally, Atb Cap Markets upgraded Schlumberger from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, July 1st. Four equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Schlumberger presently has a consensus rating of “Moderate Buy” and an average target price of $49.28.

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.