Saxon Interests Inc. Sells 227 Shares of Schlumberger Limited (NYSE:SLB)

Saxon Interests Inc. decreased its holdings in shares of Schlumberger Limited (NYSE:SLB) by 2.8% in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 8,023 shares of the oil and gas company’s stock after selling 227 shares during the period. Saxon Interests Inc.’s holdings in Schlumberger were worth $394,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the stock. Acadian Asset Management LLC bought a new position in Schlumberger during the first quarter worth about $25,000. Delta Asset Management LLC TN acquired a new position in Schlumberger during the fourth quarter valued at approximately $26,000. Heritage Wealth Management LLC increased its stake in 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 in the last quarter. Exos TFP Holdings LLC raised its holdings in Schlumberger by 269.7% in the first quarter. Exos TFP Holdings LLC now owns 536 shares of the oil and gas company’s stock worth $26,000 after purchasing an additional 391 shares during the period. Finally, Resurgent Financial Advisors LLC bought a new position in shares of Schlumberger during the fourth quarter worth $35,000. Institutional investors and hedge funds own 79.43% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on SLB. Raymond James raised their price objective on Schlumberger from $65.00 to $67.00 and gave the stock an “outperform” rating in a research note on Monday, July 24th. Susquehanna lifted their price objective on Schlumberger from $68.00 to $72.00 and gave the company a “positive” rating in a report on Thursday, September 7th. Benchmark reissued a “buy” rating and set a $65.00 target price on shares of Schlumberger in a research note on Monday, July 24th. UBS Group lifted their price target on shares of Schlumberger from $72.00 to $73.00 and gave the company a “buy” rating in a research note on Thursday, August 17th. Finally, Capital One Financial assumed coverage on shares of Schlumberger in a research report on Wednesday, June 7th. They set an “overweight” rating and a $63.00 price objective for the company. Two equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $66.73.

Insider Buying and Selling

In other Schlumberger news, EVP Mogharbel Khaled Al sold 30,000 shares of the firm’s stock in a transaction on Tuesday, September 5th. The stock was 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 owns 324,867 shares of the company’s stock, valued at approximately $19,569,988.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CTO Demosthenis Pafitis sold 60,000 shares of the stock in a transaction that occurred on Wednesday, August 30th. The stock was sold at an average price of $58.83, for a total transaction of $3,529,800.00. Following the transaction, the chief technology officer now owns 36,858 shares in the company, valued at $2,168,356.14. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Mogharbel Khaled Al sold 30,000 shares of the business’s stock in a transaction on 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 completion of the sale, the executive vice president now owns 324,867 shares of the company’s stock, valued at $19,569,988.08. The disclosure for this sale can be found here. In the last three months, insiders have sold 158,805 shares of company stock valued at $9,220,673. 0.23% of the stock is owned by insiders.

Schlumberger Stock Down 1.7 %

Shares of NYSE:SLB traded down $1.05 during midday trading on Tuesday, hitting $60.16. The stock had a trading volume of 4,417,751 shares, compared to its average volume of 9,559,223. The company has a market cap of $85.50 billion, a P/E ratio of 22.22, a PEG ratio of 0.76 and a beta of 1.82. Schlumberger Limited has a 12 month low of $33.80 and a 12 month high of $62.78. The business’s 50-day simple moving average is $58.28 and its 200-day simple moving average is $51.74. The company has a quick ratio of 0.97, a current ratio of 1.33 and a debt-to-equity ratio of 0.60.

Schlumberger (NYSE:SLB) last released its quarterly earnings data on Friday, July 21st. The oil and gas company reported $0.72 earnings per share for the quarter, topping the consensus estimate of $0.71 by $0.01. Schlumberger had a net margin of 12.63% and a return on equity of 21.27%. The company had revenue of $8.10 billion for the quarter, compared to analyst estimates of $8.20 billion. During the same period in the previous year, the business earned $0.50 EPS. Schlumberger’s revenue for the quarter was up 19.6% compared to the same quarter last year. On average, sell-side analysts forecast that Schlumberger Limited will post 2.98 earnings per share for the current fiscal 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 paid a dividend of $0.25 per share. The ex-dividend date is Tuesday, September 5th. This represents a $1.00 annualized dividend and a dividend yield of 1.66%. Schlumberger’s dividend payout ratio is currently 36.50%.

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.