Charles Schwab Investment Management Inc. Sells 27,507 Shares of Schlumberger Limited (NYSE:SLB)

Charles Schwab Investment Management Inc. lessened its holdings in Schlumberger Limited (NYSE:SLB) by 0.4% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,516,350 shares of the oil and gas company’s stock after selling 27,507 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in Schlumberger were worth $369,203,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently bought and sold shares of the business. Exos TFP Holdings LLC grew its stake in shares of Schlumberger by 269.7% during the 1st quarter. Exos TFP Holdings LLC now owns 536 shares of the oil and gas company’s stock worth $26,000 after acquiring an additional 391 shares during the period. Acadian Asset Management LLC bought a new position in shares of Schlumberger during the 1st quarter worth $25,000. Impact Partnership Wealth LLC bought a new position in shares of Schlumberger during the 2nd quarter worth $31,000. Column Capital Advisors LLC grew its stake in shares of Schlumberger by 50.3% during the 2nd quarter. Column Capital Advisors LLC now owns 648 shares of the oil and gas company’s stock worth $32,000 after acquiring an additional 217 shares during the period. Finally, Resurgent Financial Advisors LLC bought a new position in shares of Schlumberger during the 4th quarter worth $35,000. Institutional investors own 79.43% of the company’s stock.

Schlumberger Price Performance

SLB opened at $53.68 on Thursday. The stock’s 50 day simple moving average is $57.94 and its 200 day simple moving average is $53.99. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.36 and a quick ratio of 1.02. Schlumberger Limited has a 1 year low of $42.73 and a 1 year high of $62.78. The firm has a market cap of $76.41 billion, a price-to-earnings ratio of 18.57, a PEG ratio of 0.73 and a beta of 1.77.

Schlumberger (NYSE:SLB) last issued its quarterly earnings data on Friday, October 20th. The oil and gas company reported $0.78 earnings per share for the quarter, topping analysts’ consensus estimates of $0.77 by $0.01. The firm had revenue of $8.31 billion for the quarter, compared to analyst estimates of $8.32 billion. Schlumberger had a return on equity of 21.80% and a net margin of 12.98%. The business’s quarterly revenue was up 11.1% compared to the same quarter last year. During the same period last year, the company earned $0.63 EPS. As a group, analysts predict that Schlumberger Limited will post 2.97 earnings per share for the current year.

Schlumberger Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 11th. Stockholders of record on Wednesday, December 6th will be given a $0.25 dividend. The ex-dividend date is Tuesday, December 5th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.86%. Schlumberger’s dividend payout ratio is currently 34.60%.

Insider Activity

In other news, EVP Mogharbel Khaled Al sold 30,000 shares of the firm’s stock in a transaction that occurred on 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 in the company, valued at approximately $19,569,988.08. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other Schlumberger news, CFO Stephane Biguet sold 6,250 shares of the business’s stock in a transaction on Monday, October 30th. The stock was sold at an average price of $56.32, for a total value of $352,000.00. Following the sale, the chief financial officer now directly owns 176,015 shares of the company’s stock, valued at $9,913,164.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Mogharbel Khaled Al sold 30,000 shares of the business’s stock in a transaction on 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 sale, the executive vice president now directly owns 324,867 shares in the company, valued at $19,569,988.08. The disclosure for this sale can be found here. Insiders sold a total of 109,250 shares of company stock worth $6,441,505 in the last quarter. 0.23% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research analysts have recently weighed in on the company. Barclays increased their price target on Schlumberger from $75.00 to $77.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 24th. Morgan Stanley reissued an “overweight” rating and set a $62.00 price objective on shares of Schlumberger in a report on Monday, July 24th. Benchmark reissued a “buy” rating and set a $65.00 price objective on shares of Schlumberger in a report on Monday, July 24th. Citigroup increased their price objective on Schlumberger from $66.00 to $70.00 and gave the stock a “buy” rating in a report on Thursday, September 21st. Finally, UBS Group increased their price objective on Schlumberger from $72.00 to $73.00 and gave the stock a “buy” rating in a report on Thursday, August 17th. Two investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, Schlumberger currently has an average rating of “Moderate Buy” and an average target price of $70.36.

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.