UMB Bank n.a. Cuts Stock Holdings in Schlumberger Limited (NYSE:SLB)

UMB Bank n.a. lowered its holdings in Schlumberger Limited (NYSE:SLB) by 46.4% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 32,720 shares of the oil and gas company’s stock after selling 28,281 shares during the quarter. UMB Bank n.a.’s holdings in Schlumberger were worth $1,544,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of SLB. Carolinas Wealth Consulting LLC raised its stake in Schlumberger by 53.5% in the fourth quarter. Carolinas Wealth Consulting LLC now owns 1,960 shares of the oil and gas company’s stock worth $102,000 after buying an additional 683 shares in the last quarter. Crescent Grove Advisors LLC purchased a new position in shares of Schlumberger in the 2nd quarter valued at $257,000. National Bank of Canada FI raised its position in shares of Schlumberger by 15.0% in the 1st quarter. National Bank of Canada FI now owns 396,382 shares of the oil and gas company’s stock worth $21,726,000 after acquiring an additional 51,637 shares in the last quarter. Mission Wealth Management LP bought a new position in shares of Schlumberger in the 1st quarter worth $245,000. Finally, Canada Pension Plan Investment Board lifted its stake in shares of Schlumberger by 9.0% during the 1st quarter. Canada Pension Plan Investment Board now owns 788,484 shares of the oil and gas company’s stock worth $43,217,000 after purchasing an additional 64,974 shares during the last quarter. Hedge funds and other institutional investors own 81.99% of the company’s stock.

Insider Buying and Selling at Schlumberger

In other news, insider Bejar Carmen Rando sold 4,980 shares of the company’s stock in a transaction dated Friday, June 7th. The stock was sold at an average price of $43.43, for a total value of $216,281.40. Following the sale, the insider now owns 22,518 shares in the company, valued at $977,956.74. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Schlumberger news, insider Bejar Carmen Rando sold 4,980 shares of the business’s stock in a transaction that occurred on Friday, June 7th. The stock was sold at an average price of $43.43, for a total value of $216,281.40. Following the completion of the transaction, the insider now directly owns 22,518 shares of the company’s stock, valued at $977,956.74. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Mogharbel Khaled Al sold 120,668 shares of the firm’s stock in a transaction that occurred on Monday, July 22nd. The stock was sold at an average price of $50.19, for a total transaction of $6,056,326.92. Following the sale, the executive vice president now directly owns 247,699 shares in the company, valued at approximately $12,432,012.81. The disclosure for this sale can be found here. In the last quarter, insiders sold 185,696 shares of company stock worth $9,264,905. Insiders own 0.26% of the company’s stock.

Schlumberger Price Performance

Shares of NYSE SLB opened at $43.99 on Friday. Schlumberger Limited has a 52 week low of $42.61 and a 52 week high of $62.12. The business’s 50 day moving average price is $46.15 and its 200 day moving average price is $48.21. The company has a quick ratio of 1.13, a current ratio of 1.49 and a debt-to-equity ratio of 0.55. The firm has a market cap of $62.46 billion, a P/E ratio of 14.61, a P/E/G ratio of 0.97 and a beta of 1.55.

Schlumberger (NYSE:SLB) last released its quarterly earnings data on Friday, July 19th. The oil and gas company reported $0.85 EPS for the quarter, beating the consensus estimate of $0.83 by $0.02. The business had revenue of $9.14 billion for the quarter, compared to the consensus estimate of $9.08 billion. Schlumberger had a net margin of 12.56% and a return on equity of 21.92%. The business’s revenue for the quarter was up 12.8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.72 EPS. On average, sell-side analysts expect that Schlumberger Limited will post 3.49 earnings per share for the current year.

Schlumberger Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Benchmark restated a “buy” rating and issued a $68.00 price target on shares of Schlumberger in a report on Monday, July 22nd. Piper Sandler lowered their target price on shares of Schlumberger from $71.00 to $66.00 and set an “overweight” rating for the company in a research note on Monday, July 15th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $69.00 price target on shares of Schlumberger in a research report on Monday, July 22nd. Evercore ISI raised their price objective on Schlumberger from $73.00 to $74.00 and gave the stock an “outperform” rating in a research report on Monday, July 22nd. Finally, Susquehanna reduced their target price on Schlumberger from $77.00 to $70.00 and set a “positive” rating on the stock in a research report on Thursday, July 11th. Two investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to data from MarketBeat, Schlumberger currently has an average rating of “Moderate Buy” and a consensus target price of $67.00.

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