Thrivent Financial for Lutherans Lowers Holdings in Schlumberger Limited (NYSE:SLB)

Thrivent Financial for Lutherans trimmed its position in shares of Schlumberger Limited (NYSE:SLB) by 8.4% during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 221,241 shares of the oil and gas company’s stock after selling 20,294 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Schlumberger were worth $10,438,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Register Financial Advisors LLC purchased a new stake in shares of Schlumberger during the first quarter valued at approximately $27,000. Bruce G. Allen Investments LLC boosted 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 purchasing an additional 392 shares during the last quarter. Unique Wealth Strategies LLC bought a new stake in shares of Schlumberger in the 2nd quarter worth $30,000. Manchester Capital Management LLC raised its stake in shares of Schlumberger by 297.9% in the first quarter. Manchester Capital Management LLC now owns 569 shares of the oil and gas company’s stock worth $31,000 after purchasing an additional 426 shares during the last quarter. Finally, Riverview Trust Co raised its stake in Schlumberger by 90.6% during the 2nd quarter. Riverview Trust Co now owns 648 shares of the oil and gas company’s stock valued at $31,000 after buying an additional 308 shares during the last quarter. 81.99% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Bank of America reduced their price objective on Schlumberger from $62.00 to $58.00 and set a “buy” rating for the company in a research report on Monday, July 15th. Wells Fargo & Company lowered their target price on shares of Schlumberger from $53.00 to $49.00 and set an “equal weight” rating on the stock in a research note on Wednesday. Piper Sandler cut their price target on Schlumberger from $71.00 to $66.00 and set an “overweight” rating for the company in a research note on Monday, July 15th. Barclays lowered their price objective on Schlumberger from $70.00 to $67.00 and set an “overweight” rating on the stock in a research report on Tuesday, July 23rd. Finally, TD Cowen increased their target price on Schlumberger from $62.00 to $64.00 and gave the stock a “buy” rating in a research report on Monday, July 22nd. Two analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to MarketBeat, Schlumberger presently has an average rating of “Moderate Buy” and a consensus price target of $66.08.

Schlumberger Stock Down 2.7 %

NYSE SLB opened at $41.80 on Thursday. 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 52 week low of $38.66 and a 52 week high of $61.41. The firm has a market capitalization of $59.35 billion, a price-to-earnings ratio of 13.89, a PEG ratio of 0.92 and a beta of 1.51. The company has a fifty day moving average of $44.27 and a two-hundred day moving average of $47.26.

Schlumberger (NYSE:SLB) last released its quarterly earnings results on Friday, July 19th. The oil and gas company reported $0.85 EPS for the quarter, topping analysts’ consensus estimates of $0.83 by $0.02. The firm had revenue of $9.14 billion during 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 for the quarter was up 12.8% compared to the same quarter last year. During the same period in the previous year, the company earned $0.72 EPS. On average, analysts predict that Schlumberger Limited will post 3.49 earnings per share for the current year.

Schlumberger Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 10th. Stockholders of record on Wednesday, September 4th will be paid a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a dividend yield of 2.63%. The ex-dividend date of this dividend is Wednesday, September 4th. Schlumberger’s dividend payout ratio is currently 36.54%.

Insider Transactions at Schlumberger

In other Schlumberger news, EVP Mogharbel Khaled Al sold 120,668 shares of the business’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 completion of the sale, the executive vice president now directly owns 247,699 shares of the company’s stock, valued at approximately $12,432,012.81. The transaction was disclosed in a filing with the SEC, which is available through this link. In other Schlumberger news, Director Vijay Kasibhatla sold 10,000 shares of the stock in a transaction dated Monday, July 22nd. The shares were sold at an average price of $49.29, for a total transaction of $492,900.00. Following the transaction, the director now directly owns 62,354 shares in the company, valued at approximately $3,073,428.66. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Mogharbel Khaled Al sold 120,668 shares of the business’s stock in a transaction dated Monday, July 22nd. The shares were sold at an average price of $50.19, for a total transaction of $6,056,326.92. Following the completion of the sale, the executive vice president now owns 247,699 shares of the company’s stock, valued at approximately $12,432,012.81. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 180,716 shares of company stock worth $9,048,624. Insiders own 0.26% of the company’s stock.

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.