Czech National Bank Buys 16,919 Shares of Schlumberger Limited (NYSE:SLB)

Czech National Bank grew its stake in shares of Schlumberger Limited (NYSE:SLB) by 6.2% in the third quarter, HoldingsChannel.com reports. The fund owned 289,269 shares of the oil and gas company’s stock after acquiring an additional 16,919 shares during the quarter. Czech National Bank’s holdings in Schlumberger were worth $12,135,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of the stock. Central Pacific Bank Trust Division lifted its position in shares of Schlumberger by 8.0% during the 3rd quarter. Central Pacific Bank Trust Division now owns 45,363 shares of the oil and gas company’s stock valued at $1,903,000 after acquiring an additional 3,366 shares during the period. Massmutual Trust Co. FSB ADV raised its holdings in shares of Schlumberger by 113.6% during the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 115,615 shares of the oil and gas company’s stock worth $4,850,000 after buying an additional 61,485 shares in the last quarter. Trust Co. of Toledo NA OH raised its holdings in shares of Schlumberger by 12.5% during the 3rd quarter. Trust Co. of Toledo NA OH now owns 71,660 shares of the oil and gas company’s stock worth $3,006,000 after buying an additional 7,968 shares in the last quarter. M&R Capital Management Inc. raised its holdings in shares of Schlumberger by 1.7% during the 3rd quarter. M&R Capital Management Inc. now owns 14,817 shares of the oil and gas company’s stock worth $622,000 after buying an additional 241 shares in the last quarter. Finally, Mattson Financial Services LLC acquired a new position in shares of Schlumberger during the 2nd quarter worth $1,558,000. 81.99% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on SLB. Morgan Stanley lowered their price target on Schlumberger from $65.00 to $60.00 and set an “overweight” rating for the company in a report on Monday, September 16th. Benchmark reissued a “buy” rating and set a $68.00 price target on shares of Schlumberger in a report on Monday, July 22nd. Piper Sandler lowered their price target on Schlumberger from $71.00 to $66.00 and set an “overweight” rating for the company in a report on Monday, July 15th. Royal Bank of Canada reissued an “outperform” rating and set a $69.00 price target on shares of Schlumberger in a report on Thursday. Finally, Barclays lowered their price target on Schlumberger from $70.00 to $67.00 and set an “overweight” rating for the company in a report on Tuesday, July 23rd. Two analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $65.29.

Schlumberger Trading Up 1.3 %

Shares of SLB stock traded up $0.57 on Friday, hitting $45.46. The company had a trading volume of 11,296,550 shares, compared to its average volume of 11,081,596. The firm has a market cap of $64.98 billion, a P/E ratio of 15.10, a P/E/G ratio of 0.90 and a beta of 1.51. The stock’s 50-day moving average is $43.34 and its two-hundred day moving average is $46.80. 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 Limited has a twelve month low of $38.66 and a twelve month high of $61.20.

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

Schlumberger Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 10th. Investors of record on Wednesday, September 4th will be given a dividend of $0.275 per share. The ex-dividend date is Wednesday, September 4th. This represents a $1.10 annualized dividend and a dividend yield of 2.42%. Schlumberger’s payout ratio is 36.54%.

Insider Activity at Schlumberger

In related news, CFO Stephane Biguet sold 50,048 shares of the company’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 sale, the chief financial officer now owns 203,076 shares in the company, valued at $10,141,615.44. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 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 stock was sold at an average price of $50.19, for a total value of $6,056,326.92. Following the transaction, the executive vice president now owns 247,699 shares in the company, valued at approximately $12,432,012.81. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Stephane Biguet sold 50,048 shares of the stock in a transaction that occurred 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 owns 203,076 shares in the company, valued at approximately $10,141,615.44. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 180,716 shares of company stock worth $9,048,624 in the last 90 days. Corporate insiders own 0.26% of the company’s stock.

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.