Triad Investment Management Sells 28,250 Shares of Schlumberger Limited (NYSE:SLB)

Triad Investment Management cut its holdings in shares of Schlumberger Limited (NYSE:SLBGet Rating) by 22.6% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 96,593 shares of the oil and gas company’s stock after selling 28,250 shares during the period. Schlumberger comprises approximately 5.1% of Triad Investment Management’s investment portfolio, making the stock its biggest position. Triad Investment Management’s holdings in Schlumberger were worth $3,454,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the business. Sugarloaf Wealth Management LLC lifted its stake in Schlumberger by 1,059.6% in the 1st quarter. Sugarloaf Wealth Management LLC now owns 603 shares of the oil and gas company’s stock valued at $25,000 after purchasing an additional 551 shares during the last quarter. JFS Wealth Advisors LLC boosted its holdings in shares of Schlumberger by 95.6% during the 1st quarter. JFS Wealth Advisors LLC now owns 618 shares of the oil and gas company’s stock valued at $26,000 after acquiring an additional 302 shares in the last quarter. Acadian Asset Management LLC bought a new stake in Schlumberger during the 1st quarter worth $25,000. WD Rutherford LLC acquired a new position in Schlumberger in the 1st quarter worth about $26,000. Finally, Crewe Advisors LLC raised its position in Schlumberger by 768.4% in the first quarter. Crewe Advisors LLC now owns 660 shares of the oil and gas company’s stock valued at $27,000 after purchasing an additional 584 shares during the last quarter. Institutional investors and hedge funds own 78.71% of the company’s stock.

Schlumberger Trading Down 8.4 %

Shares of Schlumberger stock traded down $3.23 on Friday, reaching $35.00. 17,366,631 shares of the company’s stock were exchanged, compared to its average volume of 14,395,472. The company has a market capitalization of $49.50 billion, a P/E ratio of 18.91, a price-to-earnings-growth ratio of 0.48 and a beta of 1.81. Schlumberger Limited has a 52 week low of $27.65 and a 52 week high of $49.83. The firm’s 50-day moving average is $36.97 and its two-hundred day moving average is $39.51. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.98 and a current ratio of 1.35.

Schlumberger (NYSE:SLBGet Rating) last issued its earnings results on Friday, July 22nd. The oil and gas company reported $0.50 earnings per share for the quarter, topping analysts’ consensus estimates of $0.40 by $0.10. Schlumberger had a return on equity of 15.06% and a net margin of 10.56%. The company had revenue of $6.77 billion for the quarter, compared to analyst estimates of $6.28 billion. During the same period in the prior year, the firm earned $0.30 earnings per share. Schlumberger’s revenue for the quarter was up 20.2% on a year-over-year basis. Sell-side analysts predict that Schlumberger Limited will post 2.02 EPS for the current fiscal year.

Schlumberger Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 13th. Stockholders of record on Wednesday, September 7th will be given a dividend of $0.175 per share. This represents a $0.70 dividend on an annualized basis and a dividend yield of 2.00%. The ex-dividend date is Tuesday, September 6th. Schlumberger’s payout ratio is 38.04%.

Wall Street Analysts Forecast Growth

SLB has been the topic of several research reports. Barclays boosted their price target on Schlumberger from $55.00 to $59.00 and gave the stock an “overweight” rating in a report on Wednesday, June 8th. The Goldman Sachs Group reduced their price target on Schlumberger from $54.00 to $45.00 and set a “buy” rating on the stock in a report on Wednesday, July 13th. Morgan Stanley reduced their price target on Schlumberger from $50.00 to $45.00 and set an “overweight” rating on the stock in a report on Wednesday, July 13th. Benchmark upgraded Schlumberger from a “hold” rating to a “buy” rating and set a $55.00 price target on the stock in a report on Wednesday, July 27th. Finally, Cowen boosted their price target on Schlumberger from $47.00 to $49.00 and gave the stock an “outperform” rating in a report on Monday, July 25th. One research analyst has rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to MarketBeat.com, Schlumberger presently has an average rating of “Moderate Buy” and an average price target of $47.01.

Schlumberger Company Profile

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Schlumberger Limited provides technology for the energy industry worldwide. The company operates through four divisions: Digital & Integration, Reservoir Performance, Well Construction, and Production Systems. It offers software, information management, and IT infrastructure services; consulting services for reservoir characterization, field development planning, and production enhancement; petro technical data services and training solutions; reservoir interpretation and data processing services; asset performance solutions; open and cased-hole services; exploration and production pressure and flow-rate measurement services; pressure pumping, well stimulation, and coiled tubing equipment for downhole mechanical well intervention, reservoir monitoring, and downhole data acquisition; and integrated production systems.

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Institutional Ownership by Quarter for Schlumberger (NYSE:SLB)

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