--- title: "Schlumberger Limited (NYSE:SLB) Stock Holdings Reduced by Clearbridge Investments LLC" description: "Clearbridge Investments LLC reduced its position in Schlumberger Limited (NYSE:SLB) by 99.0% during the first quarter, selling 632,274 shares. Other institutional investors and hedge funds have also b" type: "news" locale: "en" url: "https://longbridge.com/en/news/209930763.md" published_at: "2024-07-26T11:14:40.000Z" --- # Schlumberger Limited (NYSE:SLB) Stock Holdings Reduced by Clearbridge Investments LLC > Clearbridge Investments LLC reduced its position in Schlumberger Limited (NYSE:SLB) by 99.0% during the first quarter, selling 632,274 shares. Other institutional investors and hedge funds have also bought and sold shares of SLB. Analysts have given the stock a "Moderate Buy" rating with an average price target of $67.56. Schlumberger reported earnings of $0.85 per share for the quarter, beating analysts' estimates. The company also declared a quarterly dividend of $0.275 per share. Clearbridge Investments LLC lowered its position in Schlumberger Limited (NYSE:SLB - Free Report) by 99.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,198 shares of the oil and gas company's stock after selling 632,274 shares during the quarter. Clearbridge Investments LLC's holdings in Schlumberger were worth $340,000 at the end of the most recent quarter. - 3 Trend-Following Entries for Income Investors A number of other institutional investors and hedge funds have also recently bought and sold shares of SLB. Carolinas Wealth Consulting LLC boosted its stake in shares of Schlumberger by 53.5% during the 4th 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. Asset Management One Co. Ltd. boosted its stake in shares of Schlumberger by 6.3% during the 4th quarter. Asset Management One Co. Ltd. now owns 607,312 shares of the oil and gas company's stock worth $31,726,000 after acquiring an additional 35,763 shares in the last quarter. Sapient Capital LLC bought a new stake in shares of Schlumberger during the 4th quarter worth about $1,389,000. Mission Wealth Management LP bought a new stake in shares of Schlumberger during the 1st quarter worth about $245,000. Finally, Assenagon Asset Management S.A. boosted its stake in shares of Schlumberger by 85.3% during the 4th quarter. Assenagon Asset Management S.A. now owns 313,518 shares of the oil and gas company's stock worth $16,315,000 after acquiring an additional 144,327 shares in the last quarter. Hedge funds and other institutional investors own 81.99% of the company's stock. ## Wall Street Analyst Weigh In Several equities analysts recently weighed in on the company. Citigroup cut their price objective on Schlumberger from $65.00 to $62.00 and set a "buy" rating for the company in a research report on Friday, June 28th. Wells Fargo & Company cut Schlumberger from an "overweight" rating to an "equal weight" rating and cut their price objective for the stock from $68.00 to $53.00 in a research report on Monday, April 29th. Bank of America cut 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. BMO Capital Markets cut their price objective on Schlumberger from $66.00 to $64.00 and set an "outperform" rating for the company in a research report on Monday, April 22nd. Finally, Stifel Nicolaus reissued a "buy" rating and set a $64.00 price objective on shares of Schlumberger in a research report on Monday, April 22nd. Two analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $67.56. - Energy Sector Nears Multi-Year Resistance: Breakout Ahead? **Check Out Our Latest Stock Analysis on SLB** ## Schlumberger Trading Up 0.4 % Shares of SLB opened at $48.23 on Friday. Schlumberger Limited has a 1 year low of $42.61 and a 1 year high of $62.12. The company has a current ratio of 1.49, a quick ratio of 1.13 and a debt-to-equity ratio of 0.55. The stock has a 50 day simple moving average of $46.31 and a 200-day simple moving average of $48.99. The stock has a market cap of $68.94 billion, a PE ratio of 16.02, a PEG ratio of 1.02 and a beta of 1.55. - Energy sector: assessing breakout potential and key players Schlumberger (NYSE:SLB - Get Free Report) last issued its earnings results on Friday, July 19th. The oil and gas company reported $0.85 earnings per share (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 business had revenue of $9.14 billion during the quarter, compared to analysts' expectations of $9.08 billion. During the same period in the prior year, the firm posted $0.72 EPS. Schlumberger's quarterly revenue was up 12.8% compared to the same quarter last year. On average, sell-side analysts predict that Schlumberger Limited will post 3.5 EPS for the current fiscal year. ## Schlumberger Dividend Announcement The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 10th. Investors of record on Wednesday, September 4th will be given a dividend of $0.275 per share. The ex-dividend date is Wednesday, September 4th. This represents a $1.10 dividend on an annualized basis and a yield of 2.28%. Schlumberger's dividend payout ratio (DPR) is presently 36.54%. ## Insider Buying and Selling In related news, Director Vijay Kasibhatla sold 10,000 shares of the stock in a transaction that occurred on Monday, July 22nd. The stock was sold at an average price of $49.29, for a total transaction of $492,900.00. Following the sale, the director now directly owns 62,354 shares in the company, valued at approximately $3,073,428.66. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, Director Vijay Kasibhatla sold 10,000 shares of the stock in a transaction that occurred on Monday, July 22nd. The stock was sold at an average price of $49.29, for a total transaction of $492,900.00. Following the sale, the director now directly owns 62,354 shares in the company, valued at approximately $3,073,428.66. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Mogharbel Khaled Al sold 120,668 shares of the stock in a transaction that occurred 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 sale, the executive vice president now owns 247,699 shares in the company, valued at $12,432,012.81. The disclosure for this sale can be found here. Insiders have sold a total of 286,874 shares of company stock worth $14,148,517 in the last three months. Insiders own 0.26% of the company's stock. ## About Schlumberger (Free Report) 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. ## Featured Articles - Five stocks we like better than Schlumberger - Golden Cross Stocks: Pattern, Examples and Charts - Is Now the Time to Invest? ServiceNow Stock Sent to New Highs - 3 Ways To Invest In Coffee, Other Than Drinking It - Leading Healthcare Provider Stock Soars on Earnings Beat - EV Stocks and How to Profit from Them - AstraZeneca Shares Fall Despite EPS Beat and Raised Guidance *This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.* → Is Apple Plotting to Kill Its iPhone? (From Banyan Hill Publishing) (Ad)## Should you invest $1,000 in Schlumberger right now? Before you consider Schlumberger, you'll want to hear this. MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Schlumberger wasn't on the list. While Schlumberger currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys. 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