Schlumberger Limited (NYSE:SLB) Shares Sold by Foundry Partners LLC

Foundry Partners LLC lowered its holdings in Schlumberger Limited (NYSE:SLB) by 0.6% in the 2nd quarter, Holdings Channel.com reports. The fund owned 273,165 shares of the oil and gas company’s stock after selling 1,674 shares during the quarter. Foundry Partners LLC’s holdings in Schlumberger were worth $13,418,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the business. Delta Asset Management LLC TN acquired a new stake in Schlumberger during the 4th quarter valued at $26,000. Heritage Wealth Management LLC grew its holdings in Schlumberger by 172.3% during the 4th 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 grew its holdings in Schlumberger by 269.7% during the 1st 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 in the last quarter. Acadian Asset Management LLC acquired a new stake in Schlumberger during the 1st quarter valued at $25,000. Finally, Resurgent Financial Advisors LLC acquired a new stake in Schlumberger during the 4th quarter valued at $35,000. Institutional investors and hedge funds own 79.43% of the company’s stock.

Schlumberger Stock Performance

Shares of SLB opened at $61.21 on Tuesday. The firm’s 50 day moving average is $58.28 and its 200-day moving average is $51.74. The stock has a market capitalization of $86.99 billion, a P/E ratio of 22.34, a P/E/G ratio of 0.76 and a beta of 1.82. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.33 and a quick ratio of 0.97. Schlumberger Limited has a 12-month low of $33.80 and a 12-month high of $62.78.

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

Schlumberger Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 12th. Investors of record on Wednesday, September 6th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.63%. The ex-dividend date is Tuesday, September 5th. Schlumberger’s dividend payout ratio is currently 36.50%.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. Royal Bank of Canada raised their price objective on shares of Schlumberger from $60.00 to $62.00 and gave the stock an “outperform” rating in a report on Thursday, July 20th. Susquehanna raised their price objective on shares of Schlumberger from $68.00 to $72.00 and gave the stock a “positive” rating in a report on Thursday, September 7th. HSBC decreased their price objective on shares of Schlumberger from $75.00 to $71.00 in a report on Thursday, July 27th. Piper Sandler raised their price objective on shares of Schlumberger from $64.00 to $77.00 and gave the stock an “overweight” rating in a report on Monday, September 11th. Finally, Capital One Financial began coverage on shares of Schlumberger in a research report on Wednesday, June 7th. They issued an “overweight” rating and a $63.00 price target on the stock. Two research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $66.73.

Insider Buying and Selling

In related news, CFO Stephane Biguet sold 6,250 shares of the firm’s stock in a transaction that occurred on Monday, June 26th. The shares were sold at an average price of $46.67, for a total transaction of $291,687.50. Following the completion of the sale, the chief financial officer now directly owns 201,015 shares in the company, valued at $9,381,370.05. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Schlumberger news, CFO Stephane Biguet sold 6,250 shares of Schlumberger stock in a transaction that occurred on 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 directly owns 201,015 shares in the company, valued at $9,381,370.05. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Katharina Beumelburg sold 1,339 shares of Schlumberger stock in a transaction that occurred on Wednesday, July 26th. The shares were sold at an average price of $57.70, for a total transaction of $77,260.30. Following the completion of 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 sold 158,805 shares of company stock worth $9,220,673. 0.23% 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, integration of adjacent energy systems; reservoir interpretation and data processing services for exploration data; and well construction and production improvement services and products.