Ashburton Jersey Ltd reduced its position in shares of Schlumberger Limited (NYSE:SLB – Free Report) by 27.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 302,402 shares of the oil and gas company’s stock after selling 116,033 shares during the period. Schlumberger comprises 6.9% of Ashburton Jersey Ltd’s portfolio, making the stock its 4th largest position. Ashburton Jersey Ltd’s holdings in Schlumberger were worth $14,848,000 at the end of the most recent reporting period.
A number of other large investors have also added to or reduced their stakes in SLB. Acadian Asset Management LLC acquired a new position in shares of Schlumberger in the 1st quarter valued at approximately $25,000. Cetera Investment Advisers raised its holdings in Schlumberger by 35.3% in the first quarter. Cetera Investment Advisers now owns 39,287 shares of the oil and gas company’s stock valued at $1,623,000 after acquiring an additional 10,240 shares in the last quarter. Dakota Wealth Management bought a new position in Schlumberger during the 1st quarter valued at $232,000. Sequoia Financial Advisors LLC bought a new position in Schlumberger during the 1st quarter valued at $419,000. Finally, Baird Financial Group Inc. increased its position in shares of Schlumberger by 2.9% in the 1st quarter. Baird Financial Group Inc. now owns 112,003 shares of the oil and gas company’s stock worth $4,627,000 after purchasing an additional 3,209 shares during the last quarter. 79.43% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
SLB has been the topic of several research analyst reports. Benchmark reaffirmed a “buy” rating and set a $65.00 price target on shares of Schlumberger in a research report on Monday, July 24th. HSBC decreased their target price on Schlumberger from $75.00 to $71.00 in a research report on Thursday, July 27th. Piper Sandler upped their price target on Schlumberger from $64.00 to $77.00 and gave the company an “overweight” rating in a research report on Monday. UBS Group lifted their price objective on shares of Schlumberger from $72.00 to $73.00 and gave the stock a “buy” rating in a report on Thursday, August 17th. Finally, Barclays dropped their target price on shares of Schlumberger from $74.00 to $70.00 and set an “overweight” rating on the stock in a report on Monday, July 24th. Two analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $66.73.
Schlumberger Trading Up 2.2 %
Shares of SLB stock opened at $62.10 on Wednesday. The firm has a market capitalization of $88.26 billion, a PE ratio of 22.66, a price-to-earnings-growth ratio of 0.77 and a beta of 1.82. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.97 and a current ratio of 1.33. Schlumberger Limited has a 1 year low of $33.80 and a 1 year high of $62.78. The stock has a fifty day moving average of $57.66 and a two-hundred day moving average of $51.60.
Schlumberger (NYSE:SLB – Get Free Report) last posted its quarterly earnings data on Friday, July 21st. The oil and gas company reported $0.72 earnings per share for the quarter, topping the consensus estimate of $0.71 by $0.01. The business had revenue of $8.10 billion during the quarter, compared to the consensus estimate of $8.20 billion. Schlumberger had a net margin of 12.63% and a return on equity of 21.27%. During the same quarter in the prior year, the company posted $0.50 earnings per share. The company’s quarterly revenue was up 19.6% compared to the same quarter last year. As a group, research analysts expect that Schlumberger Limited will post 2.98 EPS for the current year.
Schlumberger Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 12th. Investors of record on Wednesday, September 6th will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Tuesday, September 5th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.61%. Schlumberger’s dividend payout ratio is presently 36.50%.
Insiders Place Their Bets
In other news, EVP Mogharbel Khaled Al sold 30,000 shares of the business’s stock in a transaction on Tuesday, September 5th. The stock was sold at an average price of $60.24, for a total value of $1,807,200.00. Following the sale, the executive vice president now owns 324,867 shares of the company’s stock, valued at approximately $19,569,988.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, VP Kevin Fyfe sold 7,716 shares of Schlumberger stock in a transaction that occurred on Wednesday, August 9th. The shares were sold at an average price of $59.34, for a total value of $457,867.44. Following the transaction, the vice president now owns 28,316 shares of the company’s stock, valued at approximately $1,680,271.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Mogharbel Khaled Al sold 30,000 shares of the stock in a transaction that occurred on Tuesday, September 5th. The shares were sold at an average price of $60.24, for a total transaction of $1,807,200.00. Following the sale, the executive vice president now directly owns 324,867 shares of the company’s stock, valued at $19,569,988.08. The disclosure for this sale can be found here. Insiders sold 158,805 shares of company stock worth $9,220,673 over the last ninety days. Company insiders own 0.23% 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, integration of adjacent energy systems; reservoir interpretation and data processing services for exploration data; and well construction and production improvement services and products.
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