Riverwater Partners LLC Sells 525 Shares of Schlumberger Limited (NYSE:SLB)

Riverwater Partners LLC cut its stake in shares of Schlumberger Limited (NYSE:SLB) by 10.2% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,642 shares of the oil and gas company’s stock after selling 525 shares during the quarter. Riverwater Partners LLC’s holdings in Schlumberger were worth $219,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also bought and sold shares of the company. Register Financial Advisors LLC bought a new stake in Schlumberger during the first quarter valued at approximately $27,000. Manchester Capital Management LLC raised its stake in shares of Schlumberger by 297.9% during the first quarter. Manchester Capital Management LLC now owns 569 shares of the oil and gas company’s stock worth $31,000 after acquiring an additional 426 shares in the last quarter. Bruce G. Allen Investments LLC raised its stake in shares of Schlumberger by 204.2% during the second quarter. Bruce G. Allen Investments LLC now owns 584 shares of the oil and gas company’s stock worth $28,000 after acquiring an additional 392 shares in the last quarter. Transcendent Capital Group LLC purchased a new position in shares of Schlumberger during the fourth quarter worth approximately $32,000. Finally, Rational Advisors LLC purchased a new position in shares of Schlumberger during the first quarter worth approximately $35,000. 81.99% of the stock is currently owned by institutional investors.

Insider Activity at Schlumberger

In related news, EVP Mogharbel Khaled Al sold 120,668 shares of the firm’s stock in a transaction on Monday, July 22nd. The shares were sold at an average price of $50.19, for a total value of $6,056,326.92. Following the completion of the transaction, the executive vice president now directly owns 247,699 shares of the company’s stock, valued at $12,432,012.81. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, CFO Stephane Biguet sold 50,048 shares of Schlumberger stock in a transaction on Monday, July 22nd. The stock was sold at an average price of $49.94, for a total transaction of $2,499,397.12. Following the completion of the sale, the chief financial officer now directly owns 203,076 shares in the company, valued at $10,141,615.44. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Mogharbel Khaled Al sold 120,668 shares of Schlumberger stock in a transaction on Monday, July 22nd. The stock was sold at an average price of $50.19, for a total value of $6,056,326.92. Following the sale, the executive vice president now owns 247,699 shares of the company’s stock, valued at $12,432,012.81. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 223,779 shares of company stock valued at $11,103,553. 0.26% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Barclays decreased their price target on shares of Schlumberger from $70.00 to $67.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 23rd. Stifel Nicolaus reissued a “buy” rating and set a $64.00 price target on shares of Schlumberger in a research note on Monday, April 22nd. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $69.00 target price on shares of Schlumberger in a research note on Monday, July 22nd. Wells Fargo & Company downgraded shares of Schlumberger from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $68.00 to $53.00 in a research note on Monday, April 29th. Finally, Susquehanna decreased their target price on shares of Schlumberger from $77.00 to $70.00 and set a “positive” rating on the stock in a research note on Thursday, July 11th. Two investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $67.24.

Schlumberger Stock Performance

Schlumberger stock traded up $0.52 during midday trading on Monday, hitting $45.30. The stock had a trading volume of 1,078,035 shares, compared to its average volume of 10,728,466. The firm’s fifty day moving average is $46.11 and its two-hundred day moving average is $48.43. The company has a market capitalization of $64.32 billion, a PE ratio of 14.88, a P/E/G ratio of 0.93 and a beta of 1.55. Schlumberger Limited has a 52-week low of $42.61 and a 52-week high of $62.12. 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 announced its quarterly earnings data on Friday, July 19th. The oil and gas company reported $0.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.83 by $0.02. Schlumberger had a net margin of 12.56% and a return on equity of 21.92%. The business had revenue of $9.14 billion during the quarter, compared to analyst estimates of $9.08 billion. During the same period last year, the firm posted $0.72 EPS. The company’s revenue was up 12.8% on a year-over-year basis. On average, research analysts forecast that Schlumberger Limited will post 3.49 EPS for the current year.

Schlumberger Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 10th. Investors of record on Wednesday, September 4th will be issued a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a dividend yield of 2.43%. The ex-dividend date is Wednesday, September 4th. Schlumberger’s dividend payout ratio (DPR) is presently 36.54%.

Schlumberger 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.