Ascent Group LLC Grows Stock Position in Schlumberger Limited (NYSE:SLB)

Ascent Group LLC increased its holdings in Schlumberger Limited (NYSE:SLB) by 7.7% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 20,544 shares of the oil and gas company’s stock after buying an additional 1,469 shares during the period. Ascent Group LLC’s holdings in Schlumberger were worth $969,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Crescent Grove Advisors LLC purchased a new stake in shares of Schlumberger in the 2nd quarter worth about $257,000. National Bank of Canada FI boosted its position in shares of Schlumberger by 15.0% in the 1st quarter. National Bank of Canada FI now owns 396,382 shares of the oil and gas company’s stock worth $21,726,000 after buying an additional 51,637 shares in the last quarter. Mission Wealth Management LP purchased a new stake in shares of Schlumberger in the 1st quarter worth about $245,000. Public Sector Pension Investment Board boosted its position in shares of Schlumberger by 0.6% in the 2nd quarter. Public Sector Pension Investment Board now owns 1,901,713 shares of the oil and gas company’s stock worth $89,723,000 after buying an additional 11,813 shares in the last quarter. Finally, Canada Pension Plan Investment Board lifted its holdings in Schlumberger by 9.0% in the 1st quarter. Canada Pension Plan Investment Board now owns 788,484 shares of the oil and gas company’s stock valued at $43,217,000 after purchasing an additional 64,974 shares in the last quarter. 81.99% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. Benchmark restated a “buy” rating and issued a $68.00 target price on shares of Schlumberger in a report on Monday, July 22nd. Piper Sandler reduced their target price on shares of Schlumberger from $71.00 to $66.00 and set an “overweight” rating on the stock in a report on Monday, July 15th. TD Cowen upped their target price on shares of Schlumberger from $62.00 to $64.00 and gave the company a “buy” rating in a report on Monday, July 22nd. Morgan Stanley reduced their target price on shares of Schlumberger from $65.00 to $60.00 and set an “overweight” rating on the stock in a report on Monday, September 16th. Finally, Bank of America reduced their target price on shares of Schlumberger from $62.00 to $58.00 and set a “buy” rating on the stock in a report on Monday, July 15th. Two investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Schlumberger presently has an average rating of “Moderate Buy” and an average price target of $66.08.

Schlumberger Stock Down 0.8 %

SLB opened at $41.95 on Tuesday. The firm has a 50 day moving average price of $43.68 and a 200 day moving average price of $46.96. The company has a market cap of $59.56 billion, a PE ratio of 13.94, a price-to-earnings-growth ratio of 0.92 and a beta of 1.51. Schlumberger Limited has a 1 year low of $38.66 and a 1 year high of $61.20. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.13 and a current ratio of 1.49.

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

Schlumberger Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 10th. Shareholders of record on Wednesday, September 4th will be given a $0.275 dividend. This represents a $1.10 annualized dividend and a yield of 2.62%. The ex-dividend date of this dividend is Wednesday, September 4th. Schlumberger’s dividend payout ratio (DPR) is 36.54%.

Insider Buying and Selling at Schlumberger

In other Schlumberger news, Director Vijay Kasibhatla sold 10,000 shares of the stock in a transaction that occurred on Monday, July 22nd. The shares were sold at an average price of $49.29, for a total value of $492,900.00. Following the completion of the sale, the director now owns 62,354 shares of the company’s stock, valued at $3,073,428.66. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Schlumberger news, EVP Mogharbel Khaled Al sold 120,668 shares of the stock in a transaction that occurred on Monday, July 22nd. The shares were 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 owns 247,699 shares of the company’s stock, valued at $12,432,012.81. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Vijay Kasibhatla sold 10,000 shares of the stock in a transaction that occurred on Monday, July 22nd. The shares were sold at an average price of $49.29, for a total value of $492,900.00. Following the transaction, the director now owns 62,354 shares of the company’s stock, valued at $3,073,428.66. The disclosure for this sale can be found here. Insiders sold 180,716 shares of company stock valued at $9,048,624 over the last 90 days. 0.26% of the stock is owned by corporate insiders.

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.