Abner Herrman & Brock LLC Has $15.60 Million Stock Position in Schlumberger Limited (NYSE:SLB)

Abner Herrman & Brock LLC reduced its stake in shares of Schlumberger Limited (NYSE:SLB) by 5.8% during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 317,541 shares of the oil and gas company’s stock after selling 19,515 shares during the period. Schlumberger makes up approximately 2.3% of Abner Herrman & Brock LLC’s holdings, making the stock its 21st biggest holding. Abner Herrman & Brock LLC’s holdings in Schlumberger were worth $15,598,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Acadian Asset Management LLC acquired a new stake in shares of Schlumberger in the first quarter valued at approximately $25,000. Delta Asset Management LLC TN acquired a new stake in shares of Schlumberger in the fourth quarter valued at approximately $26,000. Heritage Wealth Management LLC raised its holdings in shares of Schlumberger by 172.3% in the fourth quarter. Heritage Wealth Management LLC now owns 482 shares of the oil and gas company’s stock valued at $26,000 after purchasing an additional 305 shares during the last quarter. Exos TFP Holdings LLC raised its holdings in shares of Schlumberger by 269.7% in the first quarter. Exos TFP Holdings LLC now owns 536 shares of the oil and gas company’s stock valued at $26,000 after purchasing an additional 391 shares during the last quarter. Finally, Resurgent Financial Advisors LLC acquired a new stake in shares of Schlumberger in the fourth quarter valued at approximately $35,000. 79.43% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

SLB has been the topic of a number of recent research reports. Piper Sandler lifted their price objective on shares of Schlumberger from $64.00 to $77.00 and gave the company an “overweight” rating in a report on Monday. StockNews.com initiated coverage on shares of Schlumberger in a research note on Thursday, August 17th. They issued a “hold” rating for the company. Susquehanna raised their target price on shares of Schlumberger from $68.00 to $72.00 and gave the company a “positive” rating in a research note on Thursday, September 7th. Morgan Stanley reissued an “overweight” rating and issued a $62.00 target price on shares of Schlumberger in a research note on Monday, July 24th. Finally, Capital One Financial initiated coverage on shares of Schlumberger in a research note on Wednesday, June 7th. They issued an “overweight” rating and a $63.00 target price for the company. Two investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $66.73.

Insider Activity

In other news, CFO Stephane Biguet sold 6,250 shares of the business’s stock in a transaction dated Monday, June 26th. The shares were sold at an average price of $46.67, for a total value of $291,687.50. Following the completion of the sale, the chief financial officer now owns 201,015 shares of the company’s stock, valued at $9,381,370.05. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, EVP Mogharbel Khaled Al sold 30,000 shares of the business’s stock in a transaction dated Tuesday, September 5th. The stock was sold at an average price of $60.24, for a total value of $1,807,200.00. Following the completion of the transaction, the executive vice president now owns 324,867 shares of the company’s stock, valued at $19,569,988.08. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Stephane Biguet sold 6,250 shares of the business’s stock in a transaction dated Monday, June 26th. The shares were sold at an average price of $46.67, for a total value of $291,687.50. Following the completion of the transaction, the chief financial officer now directly owns 201,015 shares of the company’s stock, valued at approximately $9,381,370.05. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 158,805 shares of company stock valued at $9,220,673. 0.23% of the stock is owned by company insiders.

Schlumberger Stock Performance

SLB stock traded up $0.76 during midday trading on Thursday, reaching $61.38. 1,325,063 shares of the company were exchanged, compared to its average volume of 9,517,219. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.33 and a quick ratio of 0.97. The business has a 50-day moving average price of $57.66 and a two-hundred day moving average price of $51.60. Schlumberger Limited has a one year low of $33.80 and a one year high of $62.78. The firm has a market capitalization of $87.23 billion, a price-to-earnings ratio of 22.43, a price-to-earnings-growth ratio of 0.77 and a beta of 1.82.

Schlumberger (NYSE:SLB) last announced its earnings results on Friday, July 21st. The oil and gas company reported $0.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.71 by $0.01. The company had revenue of $8.10 billion during the quarter, compared to analysts’ expectations of $8.20 billion. Schlumberger had a net margin of 12.63% and a return on equity of 21.27%. Schlumberger’s quarterly revenue was up 19.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.50 earnings per share. Equities research analysts forecast that Schlumberger Limited will post 2.98 EPS for the current year.

Schlumberger Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 12th. Stockholders of record on Wednesday, September 6th will be given a $0.25 dividend. The ex-dividend date of this dividend is Tuesday, September 5th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.63%. Schlumberger’s payout ratio is presently 36.50%.

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, integration of adjacent energy systems; reservoir interpretation and data processing services for exploration data; and well construction and production improvement services and products.