Signaturefd LLC Sells 1,794 Shares of Schlumberger Limited (NYSE:SLB)

Signaturefd LLC lowered its stake in shares of Schlumberger Limited (NYSE:SLB) by 7.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 20,818 shares of the oil and gas company’s stock after selling 1,794 shares during the period. Signaturefd LLC’s holdings in Schlumberger were worth $982,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of SLB. Register Financial Advisors LLC bought a new position in Schlumberger in the first quarter worth about $27,000. Bruce G. Allen Investments LLC raised its stake in Schlumberger by 204.2% in the 2nd quarter. Bruce G. Allen Investments LLC now owns 584 shares of the oil and gas company’s stock valued at $28,000 after purchasing an additional 392 shares during the last quarter. Unique Wealth Strategies LLC acquired a new stake in shares of Schlumberger in the 2nd quarter worth $30,000. Manchester Capital Management LLC increased its stake in shares of Schlumberger by 297.9% in the 1st quarter. Manchester Capital Management LLC now owns 569 shares of the oil and gas company’s stock worth $31,000 after acquiring an additional 426 shares during the last quarter. Finally, Riverview Trust Co grew its holdings in shares of Schlumberger by 90.6% during the 2nd quarter. Riverview Trust Co now owns 648 shares of the oil and gas company’s stock worth $31,000 after purchasing an additional 308 shares during the period. 81.99% of the stock is owned by hedge funds and other institutional investors.

Schlumberger Price Performance

Shares of NYSE:SLB traded down $0.19 on Friday, reaching $43.99. 10,173,649 shares of the company traded hands, compared to its average volume of 7,637,823. The company’s 50 day moving average is $46.15 and its 200-day moving average is $48.21. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.49 and a quick ratio of 1.13. Schlumberger Limited has a fifty-two week low of $42.61 and a fifty-two week high of $62.12. The stock has a market capitalization of $62.46 billion, a PE ratio of 14.61, a P/E/G ratio of 0.97 and a beta of 1.55.

Schlumberger (NYSE:SLB) last posted its quarterly earnings results on Friday, July 19th. The oil and gas company reported $0.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.83 by $0.02. Schlumberger had a net margin of 12.56% and a return on equity of 21.92%. The firm had revenue of $9.14 billion during the quarter, compared to analyst estimates of $9.08 billion. During the same quarter in the prior year, the business posted $0.72 earnings per share. The company’s quarterly revenue was up 12.8% compared to the same quarter last year. As a group, analysts anticipate that Schlumberger Limited will post 3.49 earnings per share for the current fiscal year.

Schlumberger Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 10th. Investors of record on Wednesday, September 4th will be paid a $0.275 dividend. The ex-dividend date of this dividend is Wednesday, September 4th. This represents a $1.10 dividend on an annualized basis and a yield of 2.50%. Schlumberger’s dividend payout ratio (DPR) is currently 36.54%.

Insider Buying and Selling at Schlumberger

In other Schlumberger news, EVP Mogharbel Khaled Al sold 120,668 shares of the company’s stock in a transaction that occurred on Monday, July 22nd. The shares were sold at an average price of $50.19, for a total value of $6,056,326.92. Following the completion of the transaction, the executive vice president now directly owns 247,699 shares in the company, valued at approximately $12,432,012.81. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, CFO Stephane Biguet sold 50,048 shares of the company’s stock in a transaction that occurred on Monday, July 22nd. The shares were sold at an average price of $49.94, for a total transaction of $2,499,397.12. Following the sale, the chief financial officer now owns 203,076 shares of the company’s stock, valued at approximately $10,141,615.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Mogharbel Khaled Al sold 120,668 shares of the company’s stock in a transaction on Monday, July 22nd. The shares were sold at an average price of $50.19, for a total transaction of $6,056,326.92. Following the completion of the sale, the executive vice president now directly owns 247,699 shares of the company’s stock, valued at approximately $12,432,012.81. The disclosure for this sale can be found here. Insiders sold 185,696 shares of company stock valued at $9,264,905 in the last quarter. Company insiders own 0.26% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on SLB shares. UBS Group cut their target price on Schlumberger from $67.00 to $63.00 and set a “buy” rating on the stock in a research report on Tuesday, August 20th. Evercore ISI raised their price target on Schlumberger from $73.00 to $74.00 and gave the stock an “outperform” rating in a report on Monday, July 22nd. Benchmark restated a “buy” rating and issued a $68.00 target price on shares of Schlumberger in a report on Monday, July 22nd. Bank of America dropped their price objective on Schlumberger from $62.00 to $58.00 and set a “buy” rating on the stock in a research note on Monday, July 15th. Finally, StockNews.com lowered shares of Schlumberger from a “buy” rating to a “hold” rating in a research report on Thursday, June 6th. Two equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to data from MarketBeat.com, Schlumberger currently has an average rating of “Moderate Buy” and an average target price of $67.00.

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