Truvestments Capital LLC Has $49,000 Stock Position in Schlumberger Limited. (NYSE:SLB)

Truvestments Capital LLC lowered its stake in Schlumberger Limited. (NYSE:SLB) by 23.5% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,422 shares of the oil and gas company’s stock after selling 438 shares during the quarter. Truvestments Capital LLC’s holdings in Schlumberger were worth $49,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Quad Cities Investment Group LLC acquired a new stake in Schlumberger during the 2nd quarter worth $32,000. Mizuho Securities Co. Ltd. acquired a new stake in Schlumberger during the 2nd quarter worth $32,000. Doyle Wealth Management acquired a new stake in Schlumberger during the 2nd quarter worth $33,000. Meridian Wealth Management LLC acquired a new stake in Schlumberger during the 1st quarter worth $38,000. Finally, Shamrock Asset Management LLC raised its stake in Schlumberger by 49.6% during the 2nd quarter. Shamrock Asset Management LLC now owns 1,061 shares of the oil and gas company’s stock worth $42,000 after buying an additional 352 shares during the period. 76.66% of the stock is currently owned by institutional investors.

Schlumberger stock traded up $1.12 during midday trading on Friday, reaching $32.19. 147,349 shares of the company’s stock were exchanged, compared to its average volume of 12,549,562. Schlumberger Limited. has a 52 week low of $30.65 and a 52 week high of $61.19. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.01 and a current ratio of 1.39. The firm has a market cap of $42.47 billion, a price-to-earnings ratio of 19.90, a P/E/G ratio of 2.19 and a beta of 1.49. The stock’s 50-day simple moving average is $34.18 and its 200 day simple moving average is $38.22.

Schlumberger (NYSE:SLB) last issued its quarterly earnings data on Friday, July 19th. The oil and gas company reported $0.35 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.35. The firm had revenue of $8.27 billion during the quarter, compared to the consensus estimate of $8.11 billion. Schlumberger had a net margin of 6.38% and a return on equity of 5.62%. The business’s revenue for the quarter was down .4% compared to the same quarter last year. During the same period last year, the business posted $0.43 earnings per share. Research analysts forecast that Schlumberger Limited. will post 1.48 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 11th. Shareholders of record on Wednesday, September 4th will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $2.00 annualized dividend and a yield of 6.21%. Schlumberger’s dividend payout ratio (DPR) is presently 123.46%.

SLB has been the topic of several recent research reports. Morgan Stanley dropped their price target on Schlumberger from $51.00 to $50.00 and set an “overweight” rating on the stock in a research note on Tuesday. Gabelli started coverage on Schlumberger in a report on Thursday, June 27th. They issued a “buy” rating and a $55.00 price objective for the company. Citigroup decreased their price objective on Schlumberger from $45.00 to $44.00 and set a “buy” rating for the company in a report on Monday, September 23rd. AltaCorp Capital restated an “outperform” rating on shares of Schlumberger in a report on Thursday, June 20th. Finally, Barclays upgraded Schlumberger from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $45.00 to $50.00 in a report on Monday, September 16th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and fifteen have given a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $49.39.

In other Schlumberger news, insider Stephanie Cox sold 24,057 shares of the firm’s stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $40.59, for a total transaction of $976,473.63. Following the completion of the sale, the insider now directly owns 46,354 shares in the company, valued at $1,881,508.86. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Patrick Schorn sold 12,151 shares of the firm’s stock in a transaction that occurred on Monday, July 22nd. The stock was sold at an average price of $38.93, for a total transaction of $473,038.43. Following the sale, the executive vice president now owns 130,000 shares of the company’s stock, valued at $5,060,900. The disclosure for this sale can be found here. Company insiders own 0.48% of the company’s stock.

Schlumberger Profile

Schlumberger Limited supplies technology for reservoir characterization, drilling, production, and processing to the oil and gas industry worldwide. The company's Reservoir Characterization segment offers reservoir interpretation and data processing services; open and cased-hole, and slickline services; exploration and production pressure and flow-rate measurement services; tubing-conveyed perforating services; integrated production systems; software, consulting, information management, and IT infrastructure services; reservoir characterization, field development planning, and production enhancement consulting services; petro technical data services and training solutions; and integrated management services.

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Institutional Ownership by Quarter for Schlumberger (NYSE:SLB)

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