LRI Investments LLC Has $82,000 Holdings in Schlumberger Limited (NYSE:SLB)

LRI Investments LLC increased its stake in Schlumberger Limited (NYSE:SLB) by 19.0% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,745 shares of the oil and gas company’s stock after acquiring an additional 279 shares during the quarter. LRI Investments LLC’s holdings in Schlumberger were worth $82,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the stock. Carolinas Wealth Consulting LLC boosted its holdings in Schlumberger by 53.5% in the fourth quarter. Carolinas Wealth Consulting LLC now owns 1,960 shares of the oil and gas company’s stock worth $102,000 after acquiring an additional 683 shares in the last quarter. Crescent Grove Advisors LLC acquired a new stake in Schlumberger in the 2nd quarter valued at $257,000. National Bank of Canada FI grew its position in Schlumberger by 15.0% in 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 period. Mission Wealth Management LP acquired a new position in Schlumberger during the first quarter worth $245,000. Finally, Canada Pension Plan Investment Board lifted 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 valued at $43,217,000 after buying an additional 64,974 shares in the last quarter. Institutional investors own 81.99% of the company’s stock.

Insider Buying and Selling at Schlumberger

In other Schlumberger news, EVP Mogharbel Khaled Al sold 120,668 shares of the 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 $12,432,012.81. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other Schlumberger news, EVP Mogharbel Khaled Al sold 120,668 shares of the firm’s stock in a transaction that occurred on 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 transaction, the executive vice president now owns 247,699 shares of the company’s stock, valued at $12,432,012.81. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Stephane Biguet sold 50,048 shares of the business’s stock in a transaction that occurred on Monday, July 22nd. The stock was sold at an average price of $49.94, for a total value of $2,499,397.12. Following the completion of the sale, the chief financial officer now directly owns 203,076 shares in the company, valued at $10,141,615.44. The disclosure for this sale can be found here. In the last three months, insiders have sold 185,696 shares of company stock valued at $9,264,905. 0.26% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages recently issued reports on SLB. Piper Sandler cut their price target on shares of Schlumberger from $71.00 to $66.00 and set an “overweight” rating on the stock in a report on Monday, July 15th. UBS Group cut their price objective on Schlumberger from $67.00 to $63.00 and set a “buy” rating on the stock in a research report on Tuesday. StockNews.com lowered Schlumberger from a “buy” rating to a “hold” rating in a research report on Thursday, June 6th. Bank of America cut their price target on shares of Schlumberger from $62.00 to $58.00 and set a “buy” rating on the stock in a report on Monday, July 15th. Finally, Susquehanna decreased their price objective on shares of Schlumberger from $77.00 to $70.00 and set a “positive” rating for the company in a report on Thursday, July 11th. Two investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $67.00.

Schlumberger Trading Up 2.3 %

Shares of Schlumberger stock traded up $1.00 during trading on Friday, reaching $45.12. The company’s stock had a trading volume of 6,244,495 shares, compared to its average volume of 10,669,561. 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 market cap of $64.06 billion, a price-to-earnings ratio of 14.99, a PEG ratio of 0.96 and a beta of 1.55. The firm’s 50-day moving average is $46.13 and its two-hundred day moving average is $48.29. Schlumberger Limited has a 52-week low of $42.61 and a 52-week high of $62.12.

Schlumberger (NYSE:SLB) last released its quarterly earnings data on Friday, July 19th. The oil and gas company reported $0.85 earnings per share (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 company’s revenue for the quarter was up 12.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.72 earnings per share. On average, sell-side analysts anticipate that Schlumberger Limited will post 3.49 earnings per share for the current year.

Schlumberger Announces Dividend

The business 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 of this dividend is Wednesday, September 4th. This represents a $1.10 annualized dividend and a yield of 2.44%. Schlumberger’s dividend payout ratio (DPR) is presently 36.54%.

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.