Crumly & Associates Inc. Has $483,000 Holdings in Schlumberger Limited $SLB

Crumly & Associates Inc. lessened its holdings in shares of Schlumberger Limited (NYSE:SLB) by 4.7% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 14,299 shares of the oil and gas company’s stock after selling 700 shares during the period. Crumly & Associates Inc.’s holdings in Schlumberger were worth $483,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. First Command Advisory Services Inc. lifted its holdings in shares of Schlumberger by 300.0% during the first quarter. First Command Advisory Services Inc. now owns 636 shares of the oil and gas company’s stock worth $27,000 after purchasing an additional 477 shares during the period. Atlas Capital Advisors Inc. acquired a new position in shares of Schlumberger during the first quarter worth $33,000. Alpine Bank Wealth Management acquired a new position in Schlumberger in the first quarter valued at $34,000. Park Square Financial Group LLC acquired a new position in Schlumberger in the first quarter valued at $38,000. Finally, N.E.W. Advisory Services LLC acquired a new position in Schlumberger in the first quarter valued at $40,000. Institutional investors and hedge funds own 81.99% of the company’s stock.

Schlumberger Price Performance

Shares of NYSE SLB opened at $35.58 on Friday. The firm’s 50-day moving average price is $34.82 and its 200-day moving average price is $35.79. Schlumberger Limited has a 1-year low of $31.11 and a 1-year high of $46.15. The firm has a market capitalization of $53.14 billion, a P/E ratio of 12.18, a P/E/G ratio of 10.00 and a beta of 1.05. The company has a current ratio of 1.31, a quick ratio of 0.98 and a debt-to-equity ratio of 0.51.

Schlumberger (NYSE:SLB) last announced its quarterly earnings data on Friday, July 18th. The oil and gas company reported $0.74 earnings per share for the quarter, beating the consensus estimate of $0.73 by $0.01. Schlumberger had a net margin of 11.53% and a return on equity of 20.99%. The firm had revenue of $8.55 billion for the quarter, compared to analyst estimates of $8.51 billion. During the same quarter in the prior year, the business earned $0.85 earnings per share. The business’s quarterly revenue was down 6.5% compared to the same quarter last year. Equities research analysts anticipate that Schlumberger Limited will post 3.38 earnings per share for the current fiscal year.

Schlumberger Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 9th. Stockholders of record on Wednesday, September 3rd will be issued a dividend of $0.285 per share. The ex-dividend date is Wednesday, September 3rd. This represents a $1.14 annualized dividend and a dividend yield of 3.2%. Schlumberger’s dividend payout ratio is currently 39.04%.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. Barclays dropped their target price on shares of Schlumberger from $47.00 to $46.00 and set an “overweight” rating on the stock in a report on Monday, July 21st. UBS Group dropped their target price on shares of Schlumberger from $45.00 to $44.00 and set a “buy” rating on the stock in a report on Wednesday, August 20th. Jefferies Financial Group dropped their target price on shares of Schlumberger from $54.00 to $53.00 and set a “buy” rating on the stock in a report on Thursday, June 26th. Susquehanna dropped their target price on shares of Schlumberger from $44.00 to $42.00 and set a “positive” rating on the stock in a report on Monday, July 21st. Finally, Piper Sandler dropped their target price on shares of Schlumberger from $44.00 to $42.00 and set a “neutral” rating on the stock in a report on Friday, July 18th. Two analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Schlumberger has an average rating of “Moderate Buy” and an average target price of $52.86.

Insider Buying and Selling at Schlumberger

In other news, insider Dianne B. Ralston sold 39,727 shares of the business’s stock in a transaction dated Friday, September 12th. The shares were sold at an average price of $36.08, for a total transaction of $1,433,350.16. Following the completion of the sale, the insider directly owned 202,201 shares of the company’s stock, valued at $7,295,412.08. The trade was a 16.42% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Corporate 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.