Symmetry Partners LLC Trims Stake in Schlumberger Limited (NYSE:SLB)

Symmetry Partners LLC reduced its position in shares of Schlumberger Limited (NYSE:SLB) by 6.8% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,569 shares of the oil and gas company’s stock after selling 1,128 shares during the period. Symmetry Partners LLC’s holdings in Schlumberger were worth $765,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the company. AMF Tjanstepension AB grew its position in Schlumberger by 61.6% in the second quarter. AMF Tjanstepension AB now owns 1,176,580 shares of the oil and gas company’s stock worth $57,827,000 after acquiring an additional 448,676 shares in the last quarter. Psagot Value Holdings Ltd. Israel purchased a new position in Schlumberger in the first quarter worth $556,000. Level Four Advisory Services LLC grew its position in Schlumberger by 51.4% in the first quarter. Level Four Advisory Services LLC now owns 73,065 shares of the oil and gas company’s stock worth $3,588,000 after acquiring an additional 24,808 shares in the last quarter. Coastline Trust Co grew its position in Schlumberger by 2.7% in the first quarter. Coastline Trust Co now owns 53,012 shares of the oil and gas company’s stock worth $2,603,000 after acquiring an additional 1,415 shares in the last quarter. Finally, Sheets Smith Wealth Management bought a new stake in Schlumberger in the first quarter worth $328,000. 79.43% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Schlumberger

In other news, EVP Mogharbel Khaled Al sold 30,000 shares of the firm’s stock in a transaction dated Tuesday, September 5th. The shares were sold at an average price of $60.24, for a total value of $1,807,200.00. Following the transaction, the executive vice president now directly 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 is accessible through this link. In related news, EVP Mogharbel Khaled Al sold 30,000 shares of the firm’s stock in a transaction dated Tuesday, September 5th. The shares were sold at an average price of $60.24, for a total transaction of $1,807,200.00. Following the completion of the sale, the executive vice president now directly owns 324,867 shares in the company, valued at $19,569,988.08. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Katharina Beumelburg sold 1,339 shares of Schlumberger stock in a transaction dated Wednesday, July 26th. The shares were sold at an average price of $57.70, for a total transaction of $77,260.30. Following the sale, the insider now owns 6,431 shares of the company’s stock, valued at $371,068.70. The disclosure for this sale can be found here. Over the last three months, insiders have sold 158,805 shares of company stock valued at $9,220,673. Corporate insiders own 0.23% of the company’s stock.

Schlumberger Stock Performance

SLB opened at $61.60 on Friday. 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 firm has a fifty day moving average price of $57.89 and a 200 day moving average price of $51.66. Schlumberger Limited has a 1 year low of $33.80 and a 1 year high of $62.78. The stock has a market cap of $87.55 billion, a P/E ratio of 22.48, a P/E/G ratio of 0.76 and a beta of 1.82.

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

Schlumberger Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 12th. Stockholders of record on Wednesday, September 6th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.62%. The ex-dividend date is Tuesday, September 5th. Schlumberger’s dividend payout ratio is currently 36.50%.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on SLB. Morgan Stanley reissued an “overweight” rating and issued a $62.00 price target on shares of Schlumberger in a research note on Monday, July 24th. Barclays lowered their price target on shares of Schlumberger from $74.00 to $70.00 and set an “overweight” rating for the company in a research note on Monday, July 24th. Piper Sandler upped their price objective on shares of Schlumberger from $64.00 to $77.00 and gave the company an “overweight” rating in a research note on Monday. Capital One Financial started coverage on shares of Schlumberger in a research note on Wednesday, June 7th. They set an “overweight” rating and a $63.00 price objective for the company. Finally, Raymond James upped their price objective on shares of Schlumberger from $65.00 to $67.00 and gave the company an “outperform” rating in a research note on Monday, July 24th. 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 stock presently has an average rating of “Moderate Buy” and a consensus price target of $66.73.

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