Kanawha Capital Management LLC Sells 1,937 Shares of Schlumberger Limited (NYSE:SLB)

Kanawha Capital Management LLC lowered its position in Schlumberger Limited (NYSE:SLB) by 3.6% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 51,846 shares of the oil and gas company’s stock after selling 1,937 shares during the period. Kanawha Capital Management LLC’s holdings in Schlumberger were worth $2,175,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. ORG Partners LLC boosted its stake in shares of Schlumberger by 393.5% in the third quarter. ORG Partners LLC now owns 607 shares of the oil and gas company’s stock worth $25,000 after acquiring an additional 484 shares during the period. Bruce G. Allen Investments LLC lifted its holdings in Schlumberger by 204.2% in the 2nd quarter. Bruce G. Allen Investments LLC now owns 584 shares of the oil and gas company’s stock worth $28,000 after purchasing an additional 392 shares in the last quarter. Unique Wealth Strategies LLC bought a new position in Schlumberger in the 2nd quarter worth approximately $30,000. Manchester Capital Management LLC grew its holdings in Schlumberger by 297.9% during the 1st quarter. Manchester Capital Management LLC now owns 569 shares of the oil and gas company’s stock valued at $31,000 after buying an additional 426 shares in the last quarter. Finally, Riverview Trust Co raised its position in shares of Schlumberger by 90.6% during the second quarter. Riverview Trust Co now owns 648 shares of the oil and gas company’s stock valued at $31,000 after buying an additional 308 shares during the last quarter. Hedge funds and other institutional investors own 81.99% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently weighed in on SLB shares. Piper Sandler dropped their target price on shares of Schlumberger from $71.00 to $66.00 and set an “overweight” rating for the company in a research report on Monday, July 15th. JPMorgan Chase & Co. cut their price objective on Schlumberger from $64.00 to $60.00 and set an “overweight” rating for the company in a research report on Tuesday, October 1st. Susquehanna reduced their target price on Schlumberger from $60.00 to $56.00 and set a “positive” rating on the stock in a report on Monday, October 21st. Wells Fargo & Company dropped their price target on Schlumberger from $53.00 to $49.00 and set an “equal weight” rating for the company in a research note on Wednesday, September 25th. Finally, UBS Group reduced their price objective on Schlumberger from $63.00 to $57.00 and set a “buy” rating on the stock in a research note on Wednesday, September 18th. Two research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $60.97.

Insider Activity

In other Schlumberger news, EVP Abdellah Merad sold 60,000 shares of the company’s stock in a transaction dated Thursday, October 24th. The shares were sold at an average price of $41.90, for a total value of $2,514,000.00. Following the transaction, the executive vice president now directly owns 211,937 shares in the company, valued at $8,880,160.30. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.26% of the company’s stock.

Schlumberger Stock Performance

Shares of NYSE:SLB opened at $39.76 on Monday. The company has a current ratio of 1.48, a quick ratio of 1.12 and a debt-to-equity ratio of 0.52. Schlumberger Limited has a 12 month low of $38.66 and a 12 month high of $57.75. The company has a market capitalization of $56.15 billion, a price-to-earnings ratio of 12.78, a PEG ratio of 1.41 and a beta of 1.52. The firm’s 50-day moving average is $42.44 and its 200 day moving average is $45.11.

Schlumberger (NYSE:SLB) last released its earnings results on Friday, October 18th. The oil and gas company reported $0.89 EPS for the quarter, beating analysts’ consensus estimates of $0.88 by $0.01. Schlumberger had a return on equity of 21.84% and a net margin of 12.44%. The firm had revenue of $9.16 billion for the quarter, compared to analysts’ expectations of $9.27 billion. During the same quarter in the prior year, the firm posted $0.78 earnings per share. The company’s quarterly revenue was up 10.2% on a year-over-year basis. Research analysts predict that Schlumberger Limited will post 3.4 EPS for the current year.

Schlumberger Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 9th. Stockholders of record on Wednesday, December 4th will be given a dividend of $0.275 per share. The ex-dividend date of this dividend is Wednesday, December 4th. This represents a $1.10 annualized dividend and a dividend yield of 2.77%. Schlumberger’s dividend payout ratio (DPR) is 35.37%.

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.