Schlumberger Limited (NYSE:SLB) Shares Sold by First Eagle Investment Management LLC

First Eagle Investment Management LLC lowered its position in shares of Schlumberger Limited (NYSE:SLB) by 0.2% during the second quarter, Holdings Channel reports. The firm owned 26,861,479 shares of the oil and gas company’s stock after selling 46,504 shares during the quarter. Schlumberger makes up about 2.8% of First Eagle Investment Management LLC’s portfolio, making the stock its 7th largest holding. First Eagle Investment Management LLC’s holdings in Schlumberger were worth $1,267,325,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Register Financial Advisors LLC acquired a new position in Schlumberger in the first quarter valued at $27,000. Manchester Capital Management LLC raised its stake in Schlumberger by 297.9% during the 1st quarter. Manchester Capital Management LLC now owns 569 shares of the oil and gas company’s stock valued at $31,000 after acquiring an additional 426 shares during the last quarter. Bruce G. Allen Investments LLC raised its stake in Schlumberger by 204.2% during 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 acquiring an additional 392 shares during the last quarter. Transcendent Capital Group LLC acquired a new stake in Schlumberger during the 4th quarter worth approximately $32,000. Finally, Unique Wealth Strategies LLC purchased a new position in shares of Schlumberger in the 2nd quarter valued at approximately $30,000. 81.99% of the stock is owned by hedge funds and other institutional investors.

Schlumberger Trading Down 0.2 %

Shares of SLB stock opened at $41.44 on Thursday. The stock has a market cap 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. The company has a quick ratio of 1.13, a current ratio of 1.49 and a debt-to-equity ratio of 0.55. Schlumberger Limited has a fifty-two week low of $38.66 and a fifty-two week high of $61.70. The business has a fifty day simple moving average of $44.63 and a 200-day simple moving average of $47.48.

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

Schlumberger Dividend Announcement

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

Analyst Ratings Changes

Several research firms have recently commented on SLB. Morgan Stanley cut their price target on Schlumberger from $65.00 to $60.00 and set an “overweight” rating for the company in a research note on Monday. Bank of America reduced their target price on shares of Schlumberger from $62.00 to $58.00 and set a “buy” rating for the company in a research note on Monday, July 15th. Piper Sandler dropped their price target on shares of Schlumberger from $71.00 to $66.00 and set an “overweight” rating on the stock in a research note on Monday, July 15th. Benchmark reissued a “buy” rating and set a $68.00 price target on shares of Schlumberger in a report on Monday, July 22nd. Finally, Dbs Bank started coverage on Schlumberger in a report on Wednesday. They issued a “buy” rating and a $64.50 price objective on the stock. Two research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $66.29.

Insider Activity at Schlumberger

In other Schlumberger news, Director Vijay Kasibhatla sold 10,000 shares of the firm’s stock in a transaction on Monday, July 22nd. The stock was sold at an average price of $49.29, for a total transaction of $492,900.00. Following the completion of the transaction, the director now owns 62,354 shares of the company’s stock, valued at $3,073,428.66. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Schlumberger news, EVP Mogharbel Khaled Al sold 120,668 shares of the company’s stock in a transaction dated 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 transaction, the executive vice president now directly owns 247,699 shares in the company, valued at approximately $12,432,012.81. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Vijay Kasibhatla sold 10,000 shares of the firm’s stock in a transaction dated Monday, July 22nd. The stock was sold at an average price of $49.29, for a total transaction of $492,900.00. Following the sale, the director now directly owns 62,354 shares in the company, valued at $3,073,428.66. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 180,716 shares of company stock valued at $9,048,624. 0.26% of the stock is owned by corporate insiders.

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.