Quarry LP Buys 421 Shares of Schlumberger Limited (NYSE:SLB)

Quarry LP boosted its position in shares of Schlumberger Limited (NYSE:SLB) by 22.5% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,296 shares of the oil and gas company’s stock after buying an additional 421 shares during the quarter. Quarry LP’s holdings in Schlumberger were worth $108,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Register Financial Advisors LLC purchased a new position in shares of Schlumberger during the 1st quarter worth about $27,000. Bruce G. Allen Investments LLC boosted its position in shares of Schlumberger by 204.2% during the second quarter. Bruce G. Allen Investments LLC now owns 584 shares of the oil and gas company’s stock valued at $28,000 after buying an additional 392 shares during the period. Unique Wealth Strategies LLC purchased a new position in shares of Schlumberger during the second quarter valued at approximately $30,000. Manchester Capital Management LLC grew its stake in shares of Schlumberger by 297.9% during the first quarter. Manchester Capital Management LLC now owns 569 shares of the oil and gas company’s stock valued at $31,000 after buying an additional 426 shares during the last quarter. Finally, Riverview Trust Co raised its holdings in shares of Schlumberger by 90.6% in the second quarter. Riverview Trust Co now owns 648 shares of the oil and gas company’s stock worth $31,000 after buying an additional 308 shares during the period. Institutional investors own 81.99% of the company’s stock.

Insider Transactions at Schlumberger

In related news, EVP Mogharbel Khaled Al sold 120,668 shares of Schlumberger stock in a transaction that occurred on 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 in the company, valued at approximately $12,432,012.81. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, EVP Mogharbel Khaled Al sold 120,668 shares of the firm’s stock in a transaction on Monday, July 22nd. The stock was sold at an average price of $50.19, for a total value of $6,056,326.92. Following the completion of the transaction, the executive vice president now owns 247,699 shares in the company, valued at approximately $12,432,012.81. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Stephane Biguet sold 50,048 shares of the business’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 sale, the chief financial officer now owns 203,076 shares in the company, valued at approximately $10,141,615.44. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 180,716 shares of company stock worth $9,048,624. Insiders own 0.26% of the company’s stock.

Schlumberger Trading Up 2.8 %

NYSE SLB opened at $43.14 on Wednesday. The firm has a market cap of $61.25 billion, a PE ratio of 14.33, a price-to-earnings-growth ratio of 0.90 and a beta of 1.51. Schlumberger Limited has a 52 week low of $38.66 and a 52 week high of $61.20. 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 company has a 50 day moving average price of $43.56 and a 200 day moving average price of $46.89.

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 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 during the quarter, compared to analyst estimates of $9.08 billion. During the same quarter in the prior year, the business posted $0.72 EPS. The business’s revenue for the quarter was up 12.8% compared to the same quarter last year. As a group, sell-side analysts forecast that Schlumberger Limited will post 3.49 EPS for the current fiscal year.

Schlumberger Announces Dividend

The firm also recently declared 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. This represents a $1.10 annualized dividend and a yield of 2.55%. The ex-dividend date is Wednesday, September 4th. Schlumberger’s dividend payout ratio is presently 36.54%.

Analyst Ratings Changes

Several equities analysts have commented on the company. Dbs Bank began coverage on Schlumberger in a research report on Wednesday, September 18th. They issued a “buy” rating and a $64.50 price objective on the stock. UBS Group cut their price target on shares of Schlumberger from $63.00 to $57.00 and set a “buy” rating on the stock in a report on Wednesday, September 18th. Piper Sandler decreased their price objective on shares of Schlumberger from $71.00 to $66.00 and set an “overweight” rating for the company in a report on Monday, July 15th. Morgan Stanley lowered their price objective on shares of Schlumberger from $65.00 to $60.00 and set an “overweight” rating for the company in a research report on Monday, September 16th. Finally, StockNews.com lowered shares of Schlumberger from a “buy” rating to a “hold” rating in a research report on Thursday, June 6th. Two equities research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $65.78.

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.