Hollencrest Capital Management Sells 4,091 Shares of Schlumberger Limited (NYSE:SLB)

Hollencrest Capital Management cut its holdings in Schlumberger Limited (NYSE:SLB) by 27.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,915 shares of the oil and gas company’s stock after selling 4,091 shares during the period. Hollencrest Capital Management’s holdings in Schlumberger were worth $515,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the business. Gryphon Financial Partners LLC boosted its stake in Schlumberger by 46.3% in the fourth quarter. Gryphon Financial Partners LLC now owns 6,538 shares of the oil and gas company’s stock valued at $340,000 after acquiring an additional 2,068 shares during the last quarter. Gladstone Institutional Advisory LLC grew its holdings in Schlumberger by 42.8% during the fourth quarter. Gladstone Institutional Advisory LLC now owns 8,570 shares of the oil and gas company’s stock valued at $446,000 after purchasing an additional 2,570 shares during the period. Clearbridge Investments LLC lifted its position in shares of Schlumberger by 3.0% during the 4th quarter. Clearbridge Investments LLC now owns 638,472 shares of the oil and gas company’s stock valued at $33,226,000 after buying an additional 18,342 shares during the last quarter. Corient Private Wealth LLC raised its stake in Schlumberger by 11.5% in the 4th quarter. Corient Private Wealth LLC now owns 696,690 shares of the oil and gas company’s stock valued at $36,256,000 after acquiring an additional 72,001 shares during the period. Finally, CreativeOne Wealth LLC purchased a new position in shares of Schlumberger in the fourth quarter worth about $214,000. 81.99% of the stock is currently owned by institutional investors.

Schlumberger Trading Up 3.2 %

Shares of SLB opened at $42.76 on Friday. The company has a quick ratio of 1.13, a current ratio of 1.49 and a debt-to-equity ratio of 0.55. The firm has a fifty day simple moving average of $44.56 and a two-hundred day simple moving average of $47.45. The stock has a market capitalization of $60.71 billion, a P/E ratio of 14.20, a PEG ratio of 0.86 and a beta of 1.51. Schlumberger Limited has a twelve month low of $38.66 and a twelve month high of $61.41.

Schlumberger (NYSE:SLB) last issued its quarterly earnings data on Friday, July 19th. The oil and gas company reported $0.85 earnings per share for the quarter, topping analysts’ consensus estimates of $0.83 by $0.02. The firm had revenue of $9.14 billion for the quarter, compared to analyst estimates of $9.08 billion. Schlumberger had a return on equity of 21.92% and a net margin of 12.56%. The business’s quarterly revenue was up 12.8% compared to the same quarter last year. During the same period last year, the company earned $0.72 EPS. On average, research analysts anticipate that Schlumberger Limited will post 3.49 EPS for the current year.

Schlumberger Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 10th. Stockholders of record on Wednesday, September 4th will be paid a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a dividend yield of 2.57%. The ex-dividend date of this dividend is Wednesday, September 4th. Schlumberger’s payout ratio is 36.54%.

Analyst Ratings Changes

SLB has been the subject of several recent research reports. Piper Sandler reduced their price target on Schlumberger from $71.00 to $66.00 and set an “overweight” rating for the company in a research report on Monday, July 15th. Morgan Stanley cut their price target on shares of Schlumberger from $65.00 to $60.00 and set an “overweight” rating for the company in a report on Monday. Citigroup reduced their target price on Schlumberger from $65.00 to $62.00 and set a “buy” rating for the company in a research report on Friday, June 28th. Dbs Bank started coverage on Schlumberger in a report on Wednesday. They set a “buy” rating and a $64.50 price objective for the company. Finally, Barclays decreased their price objective on shares of Schlumberger from $70.00 to $67.00 and set an “overweight” rating on the stock in a research report on Tuesday, July 23rd. Two analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Schlumberger has a consensus rating of “Moderate Buy” and an average price target of $66.29.

Insider Activity at Schlumberger

In other news, EVP Mogharbel Khaled Al sold 120,668 shares of the stock in a transaction that occurred 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 completion of the transaction, the executive vice president now owns 247,699 shares of the company’s stock, valued at approximately $12,432,012.81. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CFO Stephane Biguet sold 50,048 shares of Schlumberger stock in a transaction that occurred on Monday, July 22nd. The shares were sold at an average price of $49.94, for a total transaction of $2,499,397.12. Following the completion of the transaction, 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 document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Mogharbel Khaled Al sold 120,668 shares of the firm’s stock in a transaction that occurred 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 transaction, the executive vice president now directly owns 247,699 shares of the company’s stock, valued at approximately $12,432,012.81. The disclosure for this sale can be found here. Insiders have sold 180,716 shares of company stock worth $9,048,624 over the last 90 days. 0.26% of the stock is owned by company insiders.

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.