Cyrus J. Lawrence LLC Has $43,000 Stake in Schlumberger Limited (NYSE:SLB)

Cyrus J. Lawrence LLC reduced its position in shares of Schlumberger Limited (NYSE:SLB) by 99.3% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 920 shares of the oil and gas company’s stock after selling 132,928 shares during the quarter. Cyrus J. Lawrence LLC’s holdings in Schlumberger were worth $43,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of SLB. Checchi Capital Advisers LLC raised its position in Schlumberger by 1.9% during the first quarter. Checchi Capital Advisers LLC now owns 10,808 shares of the oil and gas company’s stock valued at $592,000 after buying an additional 204 shares during the period. Financial Advocates Investment Management grew its stake in Schlumberger by 3.4% during the 2nd quarter. Financial Advocates Investment Management now owns 6,558 shares of the oil and gas company’s stock valued at $309,000 after acquiring an additional 218 shares in the last quarter. Hilltop Holdings Inc. increased its holdings in shares of Schlumberger by 2.1% in the 4th quarter. Hilltop Holdings Inc. now owns 10,761 shares of the oil and gas company’s stock valued at $560,000 after purchasing an additional 219 shares during the period. Chilton Capital Management LLC lifted its position in shares of Schlumberger by 0.8% in the second quarter. Chilton Capital Management LLC now owns 26,202 shares of the oil and gas company’s stock worth $1,236,000 after purchasing an additional 219 shares in the last quarter. Finally, First PREMIER Bank boosted its holdings in shares of Schlumberger by 8.7% during the second quarter. First PREMIER Bank now owns 2,842 shares of the oil and gas company’s stock worth $134,000 after purchasing an additional 227 shares during the period. Hedge funds and other institutional investors own 81.99% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have weighed in on SLB shares. TD Cowen upped their price objective on shares of Schlumberger from $62.00 to $64.00 and gave the company a “buy” rating in a research note on Monday, July 22nd. Evercore ISI upped their price target on shares of Schlumberger from $73.00 to $74.00 and gave the stock an “outperform” rating in a research note on Monday, July 22nd. Morgan Stanley cut their price objective on Schlumberger from $65.00 to $60.00 and set an “overweight” rating for the company in a report on Monday, September 16th. UBS Group lowered their target price on Schlumberger from $63.00 to $57.00 and set a “buy” rating on the stock in a research note on Wednesday, September 18th. Finally, Barclays cut their price target on Schlumberger from $70.00 to $67.00 and set an “overweight” rating for the company in a research note on Tuesday, July 23rd. Two investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $66.29.

Schlumberger Stock Performance

NYSE:SLB opened at $42.41 on Monday. The firm’s 50-day moving average is $44.48 and its 200-day moving average is $47.36. The company has a market cap of $60.62 billion, a price-to-earnings ratio of 14.09, a PEG ratio of 0.86 and a beta of 1.51. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.13 and a current ratio of 1.49. Schlumberger Limited has a 52-week low of $38.66 and a 52-week high of $61.41.

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

Schlumberger Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 10th. Investors of record on Wednesday, September 4th will be given a $0.275 dividend. The ex-dividend date of this dividend is Wednesday, September 4th. This represents a $1.10 annualized dividend and a yield of 2.59%. Schlumberger’s dividend payout ratio (DPR) is currently 36.54%.

Insider Buying and Selling

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

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.