Truist Financial Corp Sells 18,193 Shares of Schlumberger Limited (NYSE:SLB)

Truist Financial Corp decreased its holdings in shares of Schlumberger Limited (NYSE:SLB) by 5.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 288,397 shares of the oil and gas company’s stock after selling 18,193 shares during the period. Truist Financial Corp’s holdings in Schlumberger were worth $13,607,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the business. Tower Research Capital LLC TRC increased its holdings in Schlumberger by 52.4% during the 4th quarter. Tower Research Capital LLC TRC now owns 100,451 shares of the oil and gas company’s stock worth $5,227,000 after purchasing an additional 34,521 shares in the last quarter. Cetera Advisor Networks LLC boosted its holdings in Schlumberger by 16.6% during the 4th quarter. Cetera Advisor Networks LLC now owns 76,763 shares of the oil and gas company’s stock worth $3,995,000 after acquiring an additional 10,949 shares during the last quarter. Public Employees Retirement Association of Colorado grew its stake in shares of Schlumberger by 1,664.8% in the 4th quarter. Public Employees Retirement Association of Colorado now owns 213,732 shares of the oil and gas company’s stock worth $11,123,000 after acquiring an additional 201,621 shares in the last quarter. Exencial Wealth Advisors LLC raised its holdings in shares of Schlumberger by 24.0% in the fourth quarter. Exencial Wealth Advisors LLC now owns 6,922 shares of the oil and gas company’s stock valued at $360,000 after purchasing an additional 1,338 shares during the last quarter. Finally, Morningstar Investment Services LLC lifted its position in shares of Schlumberger by 94.4% during the fourth quarter. Morningstar Investment Services LLC now owns 28,906 shares of the oil and gas company’s stock valued at $1,510,000 after purchasing an additional 14,037 shares in the last quarter. 81.99% of the stock is owned by institutional investors.

Insider Buying and Selling at Schlumberger

In related news, Director Vijay Kasibhatla sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, July 22nd. The shares were sold at an average price of $49.29, for a total transaction of $492,900.00. Following the completion of the sale, the director now directly owns 62,354 shares in the company, valued at approximately $3,073,428.66. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Schlumberger news, CFO Stephane Biguet sold 50,048 shares of the stock in a transaction on Monday, July 22nd. The stock was sold at an average price of $49.94, for a total value of $2,499,397.12. Following the completion of the sale, the chief financial officer now owns 203,076 shares in the company, valued at approximately $10,141,615.44. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Vijay Kasibhatla sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, July 22nd. The stock was sold at an average price of $49.29, for a total value of $492,900.00. Following the completion of the transaction, the director now directly owns 62,354 shares in the company, valued at approximately $3,073,428.66. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 180,716 shares of company stock worth $9,048,624 in the last three months. 0.26% of the stock is currently owned by company insiders.

Schlumberger Trading Up 1.3 %

NYSE SLB opened at $45.46 on Friday. Schlumberger Limited has a 12 month low of $38.66 and a 12 month high of $61.20. The stock has a market cap of $64.55 billion, a P/E ratio of 15.10, a P/E/G ratio of 0.90 and a beta of 1.51. The stock’s fifty day moving average price is $43.34 and its 200-day moving average price is $46.80. The company has a current ratio of 1.49, a quick ratio of 1.13 and a debt-to-equity ratio of 0.55.

Schlumberger (NYSE:SLB) last issued its earnings results on Friday, July 19th. The oil and gas company reported $0.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.83 by $0.02. The company had revenue of $9.14 billion for the quarter, compared to analysts’ expectations of $9.08 billion. Schlumberger had a net margin of 12.56% and a return on equity of 21.92%. The firm’s quarterly revenue was up 12.8% on a year-over-year basis. During the same quarter last year, the company posted $0.72 earnings per share. As a group, equities analysts forecast that Schlumberger Limited will post 3.49 EPS for the current fiscal year.

Schlumberger Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 10th. Shareholders of record on Wednesday, September 4th will be given a $0.275 dividend. The ex-dividend date is Wednesday, September 4th. This represents a $1.10 annualized dividend and a yield of 2.42%. Schlumberger’s payout ratio is 36.54%.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Benchmark reissued a “buy” rating and set a $68.00 target price on shares of Schlumberger in a research report on Monday, July 22nd. Dbs Bank began coverage on shares of Schlumberger in a research report on Wednesday, September 18th. They set a “buy” rating and a $64.50 target price for the company. TD Cowen upped their price objective on Schlumberger from $62.00 to $64.00 and gave the company a “buy” rating in a research note on Monday, July 22nd. Royal Bank of Canada reissued an “outperform” rating and issued a $69.00 target price on shares of Schlumberger in a research report on Thursday. Finally, Morgan Stanley dropped their price target on Schlumberger from $65.00 to $60.00 and set an “overweight” rating on the stock in a research report on Monday, September 16th. Two investment analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $65.29.

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.