Richelieu Gestion SA Acquires 1,172 Shares of Schlumberger Limited (NYSE:SLB)

Richelieu Gestion SA boosted its holdings in Schlumberger Limited (NYSE:SLB) by 23.6% during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 6,128 shares of the oil and gas company’s stock after acquiring an additional 1,172 shares during the quarter. Richelieu Gestion SA’s holdings in Schlumberger were worth $301,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the business. Summit Financial Group Inc. increased its position in shares of Schlumberger by 1.4% during 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 position in shares of Schlumberger by 1.6% during 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 position in shares of Schlumberger by 3.3% during 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 position in shares of Schlumberger by 5.2% during 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 position in shares of Schlumberger by 12.5% during 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. 79.43% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Schlumberger 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 directly owns 324,867 shares of the company’s stock, valued at $19,569,988.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CFO Stephane Biguet sold 6,250 shares of the business’s stock in a transaction on Monday, June 26th. The stock was sold at an average price of $46.67, for a total value of $291,687.50. Following the completion of the transaction, the chief financial officer now owns 201,015 shares in the company, valued at $9,381,370.05. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 completion of the transaction, the executive vice president now owns 324,867 shares of the company’s stock, valued at approximately $19,569,988.08. The disclosure for this sale can be found here. Over the last three months, insiders have sold 158,805 shares of company stock valued at $9,220,673. 0.23% of the stock is currently owned by corporate insiders.

Schlumberger Stock Up 1.1 %

Shares of NYSE SLB traded up $0.68 during mid-day trading on Monday, hitting $61.26. 3,205,973 shares of the stock traded hands, compared to its average volume of 9,571,398. 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 52 week low of $33.80 and a 52 week high of $62.78. The company has a market cap of $87.06 billion, a price-to-earnings ratio of 22.50, a PEG ratio of 0.78 and a beta of 1.82. The stock has a fifty day moving average price of $58.28 and a 200-day moving average price of $51.74.

Schlumberger (NYSE:SLB) last released its quarterly earnings results on Friday, July 21st. The oil and gas company reported $0.72 earnings per share for the quarter, beating the consensus estimate of $0.71 by $0.01. Schlumberger had a return on equity of 21.27% and a net margin of 12.63%. The company had revenue of $8.10 billion for the quarter, compared to analyst estimates of $8.20 billion. During the same period in the previous year, the company posted $0.50 earnings per share. The firm’s revenue was up 19.6% on a year-over-year basis. Research analysts anticipate that Schlumberger Limited will post 2.98 EPS for the current year.

Schlumberger Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 12th. Shareholders of record on Wednesday, September 6th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.63%. The ex-dividend date is Tuesday, September 5th. Schlumberger’s dividend payout ratio (DPR) is 36.50%.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on SLB shares. Susquehanna increased their price objective on Schlumberger from $68.00 to $72.00 and gave the company a “positive” rating in a research report on Thursday, September 7th. Piper Sandler increased their price objective on Schlumberger from $64.00 to $77.00 and gave the company an “overweight” rating in a research report on Monday, September 11th. HSBC decreased their price target on Schlumberger from $75.00 to $71.00 in a research note on Thursday, July 27th. StockNews.com assumed coverage on Schlumberger in a research note on Thursday, August 17th. They issued a “hold” rating on the stock. Finally, Capital One Financial assumed coverage on Schlumberger in a research note on Wednesday, June 7th. They issued an “overweight” rating and a $63.00 price target on the stock. Two equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $66.73.

Schlumberger 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, integration of adjacent energy systems; reservoir interpretation and data processing services for exploration data; and well construction and production improvement services and products.