APG Asset Management N.V. Buys 11,735 Shares of Schlumberger Limited (NYSE:SLB)

APG Asset Management N.V. raised its stake in Schlumberger Limited (NYSE:SLB) by 8.4% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 150,796 shares of the oil and gas company’s stock after buying an additional 11,735 shares during the quarter. APG Asset Management N.V.’s holdings in Schlumberger were worth $6,638,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. AQR Capital Management LLC increased its holdings in Schlumberger by 26.4% during the second quarter. AQR Capital Management LLC now owns 557,533 shares of the oil and gas company’s stock worth $26,210,000 after buying an additional 116,284 shares during the last quarter. AXA S.A. boosted its position in Schlumberger by 10.6% during the second quarter. AXA S.A. now owns 981,406 shares of the oil and gas company’s stock worth $43,133,000 after purchasing an additional 94,265 shares during the period. Caxton Associates LP bought a new position in Schlumberger during the second quarter worth $7,537,000. Merewether Investment Management LP bought a new position in Schlumberger during the second quarter worth $42,957,000. Finally, Fred Alger Management LLC boosted its position in shares of Schlumberger by 116.1% in the second quarter. Fred Alger Management LLC now owns 138,559 shares of the oil and gas company’s stock valued at $6,537,000 after acquiring an additional 74,451 shares during the period. Institutional investors own 81.99% of the company’s stock.

Insider Activity at Schlumberger

In other news, EVP Mogharbel Khaled Al sold 120,668 shares of the firm’s 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 completion of the sale, the executive vice president now directly owns 247,699 shares of the company’s stock, valued at approximately $12,432,012.81. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, EVP Mogharbel Khaled Al sold 120,668 shares of the business’s stock in a transaction 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 completion of the transaction, the executive vice president now directly owns 247,699 shares of the company’s stock, valued at approximately $12,432,012.81. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Stephane Biguet sold 50,048 shares of the business’s stock in a transaction on Monday, July 22nd. The stock was sold at an average price of $49.94, for a total value of $2,499,397.12. Following the completion of the transaction, the chief financial officer now directly owns 203,076 shares of the company’s stock, valued at $10,141,615.44. The disclosure for this sale can be found here. Over the last three months, insiders sold 180,716 shares of company stock valued at $9,048,624. Insiders own 0.26% of the company’s stock.

Schlumberger Trading Up 2.7 %

NYSE SLB opened at $42.29 on Monday. The company has a quick ratio of 1.13, a current ratio of 1.49 and a debt-to-equity ratio of 0.55. Schlumberger Limited has a twelve month low of $38.66 and a twelve month high of $61.41. The firm has a market capitalization of $60.05 billion, a PE ratio of 14.05, a P/E/G ratio of 0.92 and a beta of 1.51. The stock’s 50 day moving average is $43.83 and its 200 day moving average is $47.04.

Schlumberger (NYSE:SLB) last announced its quarterly earnings results on Friday, July 19th. The oil and gas company reported $0.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.83 by $0.02. The firm had revenue of $9.14 billion for the quarter, compared to the consensus estimate of $9.08 billion. Schlumberger had a return on equity of 21.92% and a net margin of 12.56%. The company’s quarterly revenue was up 12.8% on a year-over-year basis. During the same period in the prior year, the company posted $0.72 earnings per share. Research analysts forecast that Schlumberger Limited will post 3.49 earnings per share for the current fiscal year.

Schlumberger Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 10th. Investors of record on Wednesday, September 4th will be paid a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a yield of 2.60%. The ex-dividend date is Wednesday, September 4th. Schlumberger’s payout ratio is presently 36.54%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on SLB. Susquehanna reduced their target price on shares of Schlumberger from $77.00 to $70.00 and set a “positive” rating for the company in a research report on Thursday, July 11th. Wells Fargo & Company cut their price objective on shares of Schlumberger from $53.00 to $49.00 and set an “equal weight” rating for the company in a research report on Wednesday, September 25th. Piper Sandler lowered their target price on Schlumberger from $71.00 to $66.00 and set an “overweight” rating for the company in a research note on Monday, July 15th. Barclays lowered their target price on Schlumberger from $70.00 to $67.00 and set an “overweight” rating for the company in a research note on Tuesday, July 23rd. Finally, Dbs Bank began coverage on Schlumberger in a research note on Wednesday, September 18th. They issued a “buy” rating and a $64.50 price objective for the company. Two equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $66.08.

Schlumberger 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.