Valeo Financial Advisors LLC Reduces Stock Position in Schlumberger Limited (NYSE:SLB)

Valeo Financial Advisors LLC cut its stake in Schlumberger Limited (NYSE:SLB) by 12.9% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 24,514 shares of the oil and gas company’s stock after selling 3,619 shares during the period. Valeo Financial Advisors LLC’s holdings in Schlumberger were worth $1,344,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Turtle Creek Wealth Advisors LLC purchased a new position in Schlumberger in the fourth quarter valued at about $26,000. Register Financial Advisors LLC purchased a new position in Schlumberger in the first quarter valued at about $27,000. Transcendent Capital Group LLC purchased a new position in Schlumberger in the fourth quarter valued at about $32,000. Janiczek Wealth Management LLC increased its holdings in Schlumberger by 1,180.4% in the fourth quarter. Janiczek Wealth Management LLC now owns 653 shares of the oil and gas company’s stock valued at $34,000 after buying an additional 602 shares in the last quarter. Finally, Pinnacle Bancorp Inc. increased its stake in shares of Schlumberger by 64.3% during the 4th quarter. Pinnacle Bancorp Inc. now owns 746 shares of the oil and gas company’s stock worth $39,000 after purchasing an additional 292 shares in the last quarter. 81.99% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Schlumberger

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

Wall Street Analyst Weigh In

SLB has been the subject of a number of recent research reports. Wells Fargo & Company cut shares of Schlumberger from an “overweight” rating to an “equal weight” rating and dropped their price objective for the stock from $68.00 to $53.00 in a research note on Monday, April 29th. Morgan Stanley reissued an “overweight” rating and set a $65.00 price objective on shares of Schlumberger in a research note on Monday, April 22nd. Stifel Nicolaus reissued a “buy” rating and set a $64.00 price objective on shares of Schlumberger in a research note on Monday, April 22nd. Citigroup dropped their price objective on shares of Schlumberger from $65.00 to $62.00 and set a “buy” rating for the company in a research note on Friday, June 28th. Finally, Bank of America dropped their price objective on shares of Schlumberger from $63.00 to $62.00 and set a “buy” rating for the company in a research note 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. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $68.59.

Schlumberger Stock Up 1.3 %

Shares of SLB opened at $47.30 on Thursday. The firm has a market cap of $67.61 billion, a PE ratio of 15.71, a price-to-earnings-growth ratio of 0.90 and a beta of 1.55. The company’s fifty day moving average is $46.58 and its two-hundred day moving average is $49.53. Schlumberger Limited has a fifty-two week low of $42.61 and a fifty-two week high of $62.12. The company has a quick ratio of 1.02, a current ratio of 1.37 and a debt-to-equity ratio of 0.49.

Schlumberger (NYSE:SLB) last posted its earnings results on Friday, April 19th. The oil and gas company reported $0.75 earnings per share for the quarter, meeting the consensus estimate of $0.75. The business had revenue of $8.71 billion for the quarter, compared to analyst estimates of $8.70 billion. Schlumberger had a net margin of 12.72% and a return on equity of 21.88%. The business’s quarterly revenue was up 12.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.63 EPS. Analysts forecast that Schlumberger Limited will post 3.51 earnings per share for the current year.

Schlumberger Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 11th. Investors of record on Wednesday, June 5th will be issued a dividend of $0.275 per share. This is a positive change from Schlumberger’s previous quarterly dividend of $0.25. The ex-dividend date is Wednesday, June 5th. This represents a $1.10 annualized dividend and a dividend yield of 2.33%. Schlumberger’s payout ratio is presently 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.