Atlantic Union Bankshares Corp Sells 649 Shares of Schlumberger Limited (NYSE:SLB)

Atlantic Union Bankshares Corp cut its holdings in shares of Schlumberger Limited (NYSE:SLB) by 8.3% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 7,217 shares of the oil and gas company’s stock after selling 649 shares during the quarter. Atlantic Union Bankshares Corp’s holdings in Schlumberger were worth $396,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the business. Register Financial Advisors LLC bought a new stake in Schlumberger in the first quarter worth $27,000. Turtle Creek Wealth Advisors LLC purchased a new stake in Schlumberger during the 4th quarter valued at about $26,000. Transcendent Capital Group LLC bought a new position in Schlumberger during the 4th quarter worth approximately $32,000. Janiczek Wealth Management LLC increased its stake in Schlumberger by 1,180.4% in the 4th quarter. Janiczek Wealth Management LLC now owns 653 shares of the oil and gas company’s stock worth $34,000 after purchasing an additional 602 shares during the period. Finally, American National Bank lifted its position in Schlumberger by 745.5% in the fourth quarter. American National Bank now owns 744 shares of the oil and gas company’s stock valued at $39,000 after purchasing an additional 656 shares during the last quarter. 81.99% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts recently commented on SLB shares. Royal Bank of Canada lifted their target price on shares of Schlumberger from $66.00 to $69.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 3rd. BMO Capital Markets lowered their price objective on shares of Schlumberger from $66.00 to $64.00 and set an “outperform” rating for the company in a research note on Monday, April 22nd. Susquehanna reiterated a “positive” rating and issued a $77.00 price objective on shares of Schlumberger in a research report on Monday, April 22nd. Citigroup decreased their target price on Schlumberger from $65.00 to $62.00 and set a “buy” rating for the company in a report on Friday. Finally, StockNews.com cut shares of Schlumberger from a “buy” rating to a “hold” rating in a report on Thursday, June 6th. Two research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, Schlumberger presently has a consensus rating of “Moderate Buy” and a consensus target price of $68.59.

Insider Buying and Selling at Schlumberger

In related news, insider Bejar Carmen Rando sold 4,980 shares of the company’s stock in a transaction on Friday, June 7th. The shares were sold at an average price of $43.43, for a total transaction of $216,281.40. Following the completion of the transaction, the insider now owns 22,518 shares in the company, valued at $977,956.74. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Schlumberger news, insider Gavin Rennick sold 38,083 shares of the company’s stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of $48.28, for a total transaction of $1,838,647.24. Following the sale, the insider now directly owns 45,851 shares in the company, valued at $2,213,686.28. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Bejar Carmen Rando sold 4,980 shares of the firm’s stock in a transaction that occurred on Friday, June 7th. The shares were sold at an average price of $43.43, for a total value of $216,281.40. Following the completion of the sale, the insider now directly owns 22,518 shares of the company’s stock, valued at $977,956.74. The disclosure for this sale can be found here. Insiders sold a total of 106,158 shares of company stock valued at $5,099,893 in the last three months. 0.26% of the stock is currently owned by corporate insiders.

Schlumberger Stock Performance

NYSE SLB traded up $0.17 during trading hours on Friday, hitting $47.18. 12,686,524 shares of the company’s stock traded hands, compared to its average volume of 11,397,319. Schlumberger Limited has a 52 week low of $42.61 and a 52 week high of $62.12. The business’s fifty day moving average price is $46.69 and its two-hundred day moving average price is $49.60. The firm has a market capitalization of $67.44 billion, a P/E ratio of 15.67, a P/E/G ratio of 0.89 and a beta of 1.57. The company has a current ratio of 1.37, a quick ratio of 1.02 and a debt-to-equity ratio of 0.49.

Schlumberger (NYSE:SLB) last released its earnings results on Friday, April 19th. The oil and gas company reported $0.75 EPS for the quarter, hitting analysts’ consensus estimates of $0.75. The company had revenue of $8.71 billion for the quarter, compared to analysts’ expectations of $8.70 billion. Schlumberger had a net margin of 12.72% and a return on equity of 21.88%. The firm’s revenue was up 12.6% compared to the same quarter last year. During the same quarter last year, the business earned $0.63 EPS. Equities research analysts predict that Schlumberger Limited will post 3.51 EPS for the current year.

Schlumberger Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 11th. Shareholders of record on Wednesday, June 5th will be paid a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a yield of 2.33%. The ex-dividend date is Wednesday, June 5th. This is a positive change from Schlumberger’s previous quarterly dividend of $0.25. Schlumberger’s dividend payout ratio is presently 36.54%.

Schlumberger Company Profile

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.