Lombard Odier Asset Management Europe Ltd Has $4.29 Million Stock Position in Schlumberger Limited (NYSE:SLB)

Posted by Defense World Staff on Jun 13th, 2023

Lombard Odier Asset Management Europe Ltd raised its stake in Schlumberger Limited (NYSE:SLB – Get Rating) by 3.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 80,322 shares of the oil and gas company’s stock after buying an additional 2,745 shares during the period. Lombard Odier Asset Management Europe Ltd’s holdings in Schlumberger were worth $4,294,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. AIA Group Ltd raised its stake in shares of Schlumberger by 10.7% during the fourth quarter. AIA Group Ltd now owns 13,037 shares of the oil and gas company’s stock valued at $697,000 after acquiring an additional 1,258 shares during the last quarter. Huntington National Bank raised its stake in shares of Schlumberger by 33.1% during the fourth quarter. Huntington National Bank now owns 31,738 shares of the oil and gas company’s stock valued at $1,697,000 after acquiring an additional 7,887 shares during the last quarter. Teacher Retirement System of Texas raised its stake in shares of Schlumberger by 24.7% during the fourth quarter. Teacher Retirement System of Texas now owns 441,821 shares of the oil and gas company’s stock valued at $23,620,000 after acquiring an additional 87,463 shares during the last quarter. Sigma Planning Corp raised its stake in shares of Schlumberger by 59.3% during the fourth quarter. Sigma Planning Corp now owns 32,351 shares of the oil and gas company’s stock valued at $1,730,000 after acquiring an additional 12,046 shares during the last quarter. Finally, First Trust Advisors LP raised its stake in shares of Schlumberger by 21.5% during the third quarter. First Trust Advisors LP now owns 699,125 shares of the oil and gas company’s stock valued at $25,099,000 after acquiring an additional 123,687 shares during the last quarter. Institutional investors and hedge funds own 80.22% of the company’s stock.

Insider Buying and Selling

In related news, CFO Stephane Biguet sold 6,250 shares of the business’s stock in a transaction dated Tuesday, May 30th. The shares were sold at an average price of $43.70, for a total transaction of $273,125.00. Following the transaction, the chief financial officer now directly owns 207,265 shares in the company, valued at $9,057,480.50. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Over the last ninety days, insiders have sold 18,750 shares of company stock worth $862,688. 0.23% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on SLB shares. Susquehanna dropped their price target on shares of Schlumberger from $68.00 to $65.00 in a research note on Monday, April 3rd. UBS Group raised shares of Schlumberger from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $48.00 to $66.00 in a research note on Tuesday, April 18th. Capital One Financial initiated coverage on shares of Schlumberger in a research note on Wednesday, June 7th. They set an “overweight” rating and a $63.00 target price for the company. Raymond James lifted their target price on shares of Schlumberger from $64.00 to $65.00 in a research note on Monday, April 24th. Finally, Morgan Stanley lifted their target price on shares of Schlumberger from $55.00 to $60.00 in a research note on Tuesday, April 18th. Two equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $64.44.

Schlumberger Stock Down 1.1 %

Shares of NYSE SLB opened at $47.02 on Tuesday. The stock has a market capitalization of $66.78 billion, a P/E ratio of 17.48, a P/E/G ratio of 0.54 and a beta of 1.77. The company has a 50-day moving average price of $47.54 and a 200-day moving average price of $50.83. Schlumberger Limited has a 1 year low of $30.65 and a 1 year high of $62.78. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.26 and a quick ratio of 0.91.

Schlumberger (NYSE:SLB – Get Rating) last issued its quarterly earnings data on Friday, April 21st. The oil and gas company reported $0.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.61 by $0.02. The firm had revenue of $7.74 billion during the quarter, compared to analysts’ expectations of $7.46 billion. Schlumberger had a net margin of 12.94% and a return on equity of 20.16%. The business’s revenue was up 29.8% on a year-over-year basis. During the same period last year, the company earned $0.34 earnings per share. On average, equities research analysts forecast that Schlumberger Limited will post 3.01 EPS for the current fiscal year.

Schlumberger Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 13th. Stockholders of record on Wednesday, June 7th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.13%. The ex-dividend date is Tuesday, June 6th. Schlumberger’s dividend payout ratio is currently 37.17%.

About Schlumberger

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Schlumberger NV engages in the provision of technology for reservoir characterization, drilling, production, and processing to the oil and gas industry. It operates through the following business segments: Digital and Integration, Reservoir Performance, Well Construction, and Production Systems. The Digital and Integration segment combines the company’s digital solutions and data products with its Asset Performance Solutions (APS).