&Partners Boosts Stake in Schlumberger Limited (NYSE:SLB)

&Partners boosted its position in shares of Schlumberger Limited (NYSE:SLB) by 418.5% in the second quarter, HoldingsChannel.com reports. The fund owned 25,052 shares of the oil and gas company’s stock after purchasing an additional 20,220 shares during the period. &Partners’ holdings in Schlumberger were worth $1,182,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. boosted its position in Schlumberger by 1.4% in the 1st quarter. Vanguard Group Inc. now owns 134,150,168 shares of the oil and gas company’s stock valued at $7,352,771,000 after buying an additional 1,868,688 shares during the period. Capital World Investors boosted its holdings in Schlumberger by 72.3% in the first quarter. Capital World Investors now owns 88,950,956 shares of the oil and gas company’s stock valued at $4,875,402,000 after purchasing an additional 37,333,485 shares during the period. Price T Rowe Associates Inc. MD grew its stake in Schlumberger by 14.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 85,986,039 shares of the oil and gas company’s stock worth $4,712,897,000 after purchasing an additional 10,606,191 shares in the last quarter. Norges Bank purchased a new stake in Schlumberger during the 4th quarter worth about $1,000,292,000. Finally, Capital International Investors raised its position in Schlumberger by 0.6% in the 4th quarter. Capital International Investors now owns 14,797,363 shares of the oil and gas company’s stock valued at $770,122,000 after purchasing an additional 89,483 shares in the last quarter. Institutional investors and hedge funds own 81.99% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. UBS Group lowered their price objective on Schlumberger from $67.00 to $63.00 and set a “buy” rating for the company in a research report on Tuesday. Susquehanna lowered their price target on shares of Schlumberger from $77.00 to $70.00 and set a “positive” rating for the company in a report on Thursday, July 11th. Evercore ISI raised their price objective on shares of Schlumberger from $73.00 to $74.00 and gave the company an “outperform” rating in a report on Monday, July 22nd. Piper Sandler lowered their target price on shares of Schlumberger from $71.00 to $66.00 and set an “overweight” rating for the company in a research note on Monday, July 15th. Finally, TD Cowen raised their price target on Schlumberger from $62.00 to $64.00 and gave the company a “buy” rating in a research note on Monday, July 22nd. Two analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $67.00.

Schlumberger Trading Up 2.3 %

NYSE:SLB opened at $45.12 on Friday. The stock’s 50 day simple moving average is $46.13 and its 200-day simple moving average is $48.29. Schlumberger Limited has a 12-month low of $42.61 and a 12-month 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 firm has a market cap of $64.06 billion, a P/E ratio of 14.99, a PEG ratio of 0.96 and a beta of 1.55.

Schlumberger (NYSE:SLB) last posted its quarterly earnings results on Friday, July 19th. The oil and gas company reported $0.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.83 by $0.02. Schlumberger had a net margin of 12.56% and a return on equity of 21.92%. The firm 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 company posted $0.72 earnings per share. The firm’s revenue for the quarter was up 12.8% on a year-over-year basis. Equities analysts anticipate that Schlumberger Limited will post 3.49 EPS for the current year.

Schlumberger Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 10th. Shareholders of record on Wednesday, September 4th will be issued a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a yield of 2.44%. The ex-dividend date of this dividend is Wednesday, September 4th. Schlumberger’s dividend payout ratio (DPR) is currently 36.54%.

Insiders Place Their Bets

In other news, insider Bejar Carmen Rando sold 4,980 shares of the stock in a transaction dated 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 transaction, the insider now owns 22,518 shares in the company, valued at approximately $977,956.74. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Schlumberger news, insider Bejar Carmen Rando sold 4,980 shares of the company’s stock in a transaction on Friday, June 7th. The stock was sold at an average price of $43.43, for a total value of $216,281.40. Following the sale, the insider now owns 22,518 shares of the company’s stock, valued at $977,956.74. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Stephane Biguet sold 50,048 shares of the business’s stock in a transaction dated Monday, July 22nd. The stock was sold at an average price of $49.94, for a total transaction of $2,499,397.12. Following the completion of the sale, the chief financial officer now owns 203,076 shares in the company, valued at $10,141,615.44. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 185,696 shares of company stock worth $9,264,905. 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.