Inspire Investing LLC Reduces Holdings in Schlumberger Limited (NYSE:SLB)

Inspire Investing LLC reduced its stake in Schlumberger Limited (NYSE:SLB) by 15.6% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 134,081 shares of the oil and gas company’s stock after selling 24,856 shares during the quarter. Schlumberger comprises about 0.7% of Inspire Investing LLC’s portfolio, making the stock its 18th largest holding. Inspire Investing LLC’s holdings in Schlumberger were worth $6,326,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently bought and sold shares of the stock. Carolinas Wealth Consulting LLC lifted its stake in shares of Schlumberger by 53.5% during 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 during the period. Crescent Grove Advisors LLC acquired a new stake in Schlumberger during the 2nd quarter worth about $257,000. National Bank of Canada FI grew its stake in Schlumberger by 15.0% during the 1st quarter. National Bank of Canada FI now owns 396,382 shares of the oil and gas company’s stock valued at $21,726,000 after purchasing an additional 51,637 shares during the last quarter. Mission Wealth Management LP acquired a new position in shares of Schlumberger in the first quarter valued at about $245,000. Finally, Canada Pension Plan Investment Board raised its stake in shares of Schlumberger by 9.0% in the first 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. 81.99% of the stock is currently owned by institutional investors and hedge funds.

Schlumberger Stock Down 0.2 %

SLB stock opened at $41.44 on Thursday. Schlumberger Limited has a 52 week low of $38.66 and a 52 week high of $61.70. 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 50-day simple moving average of $44.63 and a 200-day simple moving average of $47.48. The stock has a market capitalization of $59.22 billion, a P/E ratio of 13.77, a P/E/G ratio of 0.85 and a beta of 1.52.

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

Schlumberger Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 10th. Shareholders of record on Wednesday, September 4th will be issued a $0.275 dividend. The ex-dividend date is Wednesday, September 4th. This represents a $1.10 dividend on an annualized basis and a yield of 2.65%. Schlumberger’s payout ratio is currently 36.54%.

Insiders Place Their Bets

In other news, CFO Stephane Biguet sold 50,048 shares of the firm’s stock in a transaction dated Monday, July 22nd. The shares were sold at an average price of $49.94, for a total value of $2,499,397.12. Following the transaction, the chief financial officer now directly owns 203,076 shares of the company’s stock, valued at $10,141,615.44. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other Schlumberger news, CFO Stephane Biguet sold 50,048 shares of the stock in a transaction dated Monday, July 22nd. The shares were sold at an average price of $49.94, for a total value of $2,499,397.12. Following the completion of the sale, the chief financial officer now owns 203,076 shares in the company, valued at approximately $10,141,615.44. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Vijay Kasibhatla sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, July 22nd. The stock was sold at an average price of $49.29, for a total value of $492,900.00. Following the transaction, the director now owns 62,354 shares in the company, valued at $3,073,428.66. The disclosure for this sale can be found here. Insiders have sold a total of 180,716 shares of company stock valued at $9,048,624 in the last 90 days. 0.26% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on SLB. Morgan Stanley cut their price target on shares of Schlumberger from $65.00 to $60.00 and set an “overweight” rating on the stock in a report on Monday. Evercore ISI raised their target price on shares of Schlumberger from $73.00 to $74.00 and gave the stock an “outperform” rating in a report on Monday, July 22nd. UBS Group decreased their target price on shares of Schlumberger from $63.00 to $57.00 and set a “buy” rating for the company in a research report on Wednesday. Benchmark reaffirmed a “buy” rating and set a $68.00 price target on shares of Schlumberger in a research report on Monday, July 22nd. Finally, Barclays decreased their price objective on Schlumberger from $70.00 to $67.00 and set an “overweight” rating for the company in a report on Tuesday, July 23rd. Two equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $66.29.

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