Zimmermann Investment Management & Planning LLC Trims Holdings in Schlumberger Limited (NYSE:SLB)

Zimmermann Investment Management & Planning LLC decreased its holdings in Schlumberger Limited (NYSE:SLB) by 44.8% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,306 shares of the oil and gas company’s stock after selling 3,500 shares during the period. Zimmermann Investment Management & Planning LLC’s holdings in Schlumberger were worth $203,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Sterneck Capital Management LLC purchased a new position in shares of Schlumberger during the second quarter valued at $236,000. Conning Inc. increased its stake in shares of Schlumberger by 9.2% during the second quarter. Conning Inc. now owns 8,268 shares of the oil and gas company’s stock valued at $390,000 after buying an additional 695 shares during the period. Argonautica Private Wealth Management Inc. increased its stake in shares of Schlumberger by 5.1% during the second quarter. Argonautica Private Wealth Management Inc. now owns 5,846 shares of the oil and gas company’s stock valued at $276,000 after buying an additional 286 shares during the period. Worth Financial Advisory Group LLC increased its stake in shares of Schlumberger by 39.5% during the second quarter. Worth Financial Advisory Group LLC now owns 11,007 shares of the oil and gas company’s stock valued at $519,000 after buying an additional 3,118 shares during the period. Finally, Atomi Financial Group Inc. increased its stake in shares of Schlumberger by 8.6% during the second quarter. Atomi Financial Group Inc. now owns 7,847 shares of the oil and gas company’s stock valued at $370,000 after buying an additional 623 shares during the period. Hedge funds and other institutional investors own 81.99% of the company’s stock.

Insider Buying and Selling

In related news, Director Vijay Kasibhatla sold 10,000 shares of Schlumberger 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 completion of the sale, the director now owns 62,354 shares of the company’s stock, valued at $3,073,428.66. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Schlumberger news, Director Vijay Kasibhatla sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, July 22nd. The stock was sold at an average price of $49.29, for a total value of $492,900.00. Following the completion of the transaction, the director now directly owns 62,354 shares of the company’s stock, valued at $3,073,428.66. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Mogharbel Khaled Al sold 120,668 shares of the business’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 value of $6,056,326.92. Following the completion of the transaction, the executive vice president now directly owns 247,699 shares of the company’s stock, valued at $12,432,012.81. The disclosure for this sale can be found here. Insiders sold 185,696 shares of company stock valued at $9,264,905 over the last quarter. 0.26% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several brokerages have recently commented on SLB. Citigroup cut their price target on Schlumberger from $65.00 to $62.00 and set a “buy” rating on the stock in a research note on Friday, June 28th. TD Cowen raised their price target on Schlumberger from $62.00 to $64.00 and gave the company a “buy” rating in a research note on Monday, July 22nd. Bank of America cut their target price on Schlumberger from $62.00 to $58.00 and set a “buy” rating on the stock in a research note on Monday, July 15th. Piper Sandler cut their target price on Schlumberger from $71.00 to $66.00 and set an “overweight” rating on the stock in a research note on Monday, July 15th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $69.00 target price on shares of Schlumberger in a research note on Monday, July 22nd. Two research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $67.00.

Schlumberger Stock Down 2.9 %

NYSE SLB traded down $1.30 during trading on Wednesday, hitting $43.74. The company’s stock had a trading volume of 9,853,626 shares, compared to its average volume of 10,604,971. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.49 and a quick ratio of 1.13. The company has a market cap of $62.52 billion, a PE ratio of 14.53, a P/E/G ratio of 0.96 and a beta of 1.55. The business’s 50 day simple moving average is $46.19 and its 200-day simple moving average is $48.27. Schlumberger Limited has a fifty-two week low of $42.61 and a fifty-two week high of $62.12.

Schlumberger (NYSE:SLB) last released its 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. 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 the consensus estimate of $9.08 billion. During the same quarter in the previous year, the company posted $0.72 earnings per share. The company’s revenue was up 12.8% compared to the same quarter last year. On average, equities analysts anticipate that Schlumberger Limited will post 3.49 EPS for the current fiscal 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 issued a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a dividend yield of 2.51%. The ex-dividend date of this dividend is Wednesday, September 4th. Schlumberger’s dividend payout ratio (DPR) is 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.