Schlumberger Limited (NYSE:SLB) is KADENSA CAPITAL Ltd’s 4th Largest Position

KADENSA CAPITAL Ltd grew its position in Schlumberger Limited (NYSE:SLB) by 562.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 848,749 shares of the oil and gas company’s stock after buying an additional 720,599 shares during the period. Schlumberger accounts for approximately 8.3% of KADENSA CAPITAL Ltd’s investment portfolio, making the stock its 4th largest position. KADENSA CAPITAL Ltd owned 0.06% of Schlumberger worth $41,674,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the company. Summit Financial Group Inc. increased its holdings in Schlumberger by 1.4% in the 1st quarter. Summit Financial Group Inc. now owns 14,557 shares of the oil and gas company’s stock valued at $715,000 after purchasing an additional 200 shares during the last quarter. Howland Capital Management LLC increased its holdings in Schlumberger by 1.6% in the 1st quarter. Howland Capital Management LLC now owns 13,823 shares of the oil and gas company’s stock valued at $682,000 after purchasing an additional 220 shares during the last quarter. Eukles Asset Management increased its holdings in Schlumberger by 3.3% in the 1st quarter. Eukles Asset Management now owns 6,992 shares of the oil and gas company’s stock valued at $343,000 after purchasing an additional 221 shares during the last quarter. Valmark Advisers Inc. increased its holdings in Schlumberger by 5.2% in the 1st quarter. Valmark Advisers Inc. now owns 4,993 shares of the oil and gas company’s stock valued at $245,000 after purchasing an additional 248 shares during the last quarter. Finally, Vigilant Capital Management LLC increased its holdings in Schlumberger by 12.5% in the 1st quarter. Vigilant Capital Management LLC now owns 2,250 shares of the oil and gas company’s stock valued at $110,000 after purchasing an additional 250 shares during the last quarter. Hedge funds and other institutional investors own 79.43% of the company’s stock.

Schlumberger Price Performance

Schlumberger stock opened at $60.35 on Monday. The stock has a market cap of $85.77 billion, a P/E ratio of 22.04, a price-to-earnings-growth ratio of 0.77 and a beta of 1.82. The company has a fifty day simple moving average of $57.18 and a 200-day simple moving average of $51.49. Schlumberger Limited has a 12-month low of $33.80 and a 12-month high of $62.78. The company has a current ratio of 1.33, a quick ratio of 0.97 and a debt-to-equity ratio of 0.60.

Schlumberger (NYSE:SLB) last released its quarterly earnings data on Friday, July 21st. The oil and gas company reported $0.72 earnings per share (EPS) 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 analysts’ expectations of $8.20 billion. Schlumberger had a net margin of 12.63% and a return on equity of 21.27%. The company’s revenue for the quarter was up 19.6% on a year-over-year basis. During the same period in the previous year, the company earned $0.50 EPS. Equities analysts expect that Schlumberger Limited will post 2.98 EPS for the current fiscal year.

Schlumberger Dividend Announcement

The business also recently declared 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 is Tuesday, September 5th. This represents a $1.00 annualized dividend and a yield of 1.66%. Schlumberger’s dividend payout ratio is currently 36.50%.

Wall Street Analyst Weigh In

Several research firms recently weighed in on SLB. Benchmark reiterated a “buy” rating and issued a $65.00 target price on shares of Schlumberger in a report on Monday, July 24th. Royal Bank of Canada raised their price target on shares of Schlumberger from $60.00 to $62.00 and gave the company an “outperform” rating in a research report on Thursday, July 20th. UBS Group raised their price target on shares of Schlumberger from $72.00 to $73.00 and gave the company a “buy” rating in a research report on Thursday, August 17th. Susquehanna raised their price target on shares of Schlumberger from $68.00 to $72.00 and gave the company a “positive” rating in a research report on Thursday. Finally, Piper Sandler raised their price target on shares of Schlumberger from $64.00 to $77.00 in a research report on Monday. Two investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $66.73.

Insider Buying and Selling

In related news, CTO Demosthenis Pafitis sold 60,000 shares of Schlumberger stock in a transaction on Wednesday, August 30th. The shares were sold at an average price of $58.83, for a total transaction of $3,529,800.00. Following the sale, the chief technology officer now directly owns 36,858 shares in the company, valued at approximately $2,168,356.14. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CFO Stephane Biguet sold 6,250 shares of Schlumberger stock in a transaction on Monday, June 26th. The shares were sold at an average price of $46.67, for a total transaction of $291,687.50. Following the sale, the chief financial officer now directly owns 201,015 shares in the company, valued at approximately $9,381,370.05. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CTO Demosthenis Pafitis sold 60,000 shares of Schlumberger stock in a transaction on Wednesday, August 30th. The stock was sold at an average price of $58.83, for a total transaction of $3,529,800.00. Following the sale, the chief technology officer now owns 36,858 shares in the company, valued at $2,168,356.14. The disclosure for this sale can be found here. Insiders have sold 158,805 shares of company stock worth $9,220,673 in the last ninety days. 0.23% 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, integration of adjacent energy systems; reservoir interpretation and data processing services for exploration data; and well construction and production improvement services and products.