Triangle Securities Wealth Management Sells 1,599 Shares of Schlumberger Limited $SLB

Triangle Securities Wealth Management trimmed its stake in Schlumberger Limited (NYSE:SLB) by 8.3% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 17,579 shares of the oil and gas company’s stock after selling 1,599 shares during the period. Triangle Securities Wealth Management’s holdings in Schlumberger were worth $594,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in SLB. First Command Advisory Services Inc. raised its position 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 worth $27,000 after acquiring an additional 477 shares in the last quarter. Atticus Wealth Management LLC bought a new position in shares of Schlumberger in the 2nd quarter worth $29,000. Atlas Capital Advisors Inc. bought a new position in shares of Schlumberger in the 1st quarter worth $33,000. Thurston Springer Miller Herd & Titak Inc. raised its position in shares of Schlumberger by 55.3% in the 2nd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 983 shares of the oil and gas company’s stock worth $33,000 after acquiring an additional 350 shares in the last quarter. Finally, Alpine Bank Wealth Management bought a new position in shares of Schlumberger in the 1st quarter worth $34,000. 81.99% of the stock is owned by institutional investors.

Schlumberger Stock Down 0.1%

Schlumberger stock opened at $34.75 on Friday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.98 and a current ratio of 1.31. The business’s 50-day simple moving average is $34.72 and its two-hundred day simple moving average is $35.63. The company has a market cap of $51.90 billion, a PE ratio of 11.90, a PEG ratio of 9.66 and a beta of 1.05. Schlumberger Limited has a fifty-two week low of $31.11 and a fifty-two week high of $46.15.

Schlumberger (NYSE:SLB) last posted its quarterly earnings results on Friday, July 18th. The oil and gas company reported $0.74 earnings per share for the quarter, beating the consensus estimate of $0.73 by $0.01. The business had revenue of $8.55 billion for the quarter, compared to the consensus estimate of $8.51 billion. Schlumberger had a return on equity of 20.99% and a net margin of 11.53%.The company’s quarterly revenue was down 6.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.85 EPS. Equities analysts anticipate that Schlumberger Limited will post 3.38 EPS for the current year.

Schlumberger Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 9th. Shareholders of record on Wednesday, September 3rd will be paid a dividend of $0.285 per share. This represents a $1.14 annualized dividend and a yield of 3.3%. The ex-dividend date is Wednesday, September 3rd. Schlumberger’s payout ratio is presently 39.04%.

Analyst Ratings Changes

Several research analysts have recently commented on SLB shares. JPMorgan Chase & Co. reduced their price target on Schlumberger from $46.00 to $44.00 and set an “overweight” rating for the company in a research report on Monday, June 30th. UBS Group dropped their target price on Schlumberger from $45.00 to $44.00 and set a “buy” rating on the stock in a research note on Wednesday, August 20th. Wells Fargo & Company downgraded Schlumberger from a “strong-buy” rating to a “hold” rating in a research note on Sunday, July 20th. Melius started coverage on Schlumberger in a research note on Wednesday, August 20th. They set a “buy” rating and a $82.00 target price on the stock. Finally, Susquehanna dropped their target price on Schlumberger from $44.00 to $42.00 and set a “positive” rating on the stock in a research note on Monday, July 21st. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $52.18.

Insiders Place Their Bets

In other Schlumberger news, insider Dianne B. Ralston sold 39,727 shares of the business’s stock in a transaction dated Friday, September 12th. The stock was sold at an average price of $36.08, for a total transaction of $1,433,350.16. Following the sale, the insider owned 202,201 shares in the company, valued at approximately $7,295,412.08. The trade was a 16.42% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.22% 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.