Dimensional Fund Advisors LP decreased its holdings in Schlumberger Limited (NYSE:SLB – Free Report) by 13.2% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,079,655 shares of the oil and gas company’s stock after selling 925,051 shares during the quarter. Dimensional Fund Advisors LP owned about 0.43% of Schlumberger worth $298,621,000 as of its most recent SEC filing.
Other institutional investors have also recently made changes to their positions in the company. Key Financial Inc boosted its holdings in Schlumberger by 26.2% in the 2nd quarter. Key Financial Inc now owns 858 shares of the oil and gas company’s stock valued at $42,000 after purchasing an additional 178 shares in the last quarter. WCM Investment Management LLC lifted its holdings in Schlumberger by 0.5% in the second quarter. WCM Investment Management LLC now owns 40,366 shares of the oil and gas company’s stock valued at $1,997,000 after acquiring an additional 185 shares during the period. SouthState Corp boosted its position in shares of Schlumberger by 33.2% during the 2nd quarter. SouthState Corp now owns 759 shares of the oil and gas company’s stock worth $37,000 after purchasing an additional 189 shares in the last quarter. Column Capital Advisors LLC grew its stake in shares of Schlumberger by 50.3% during the 2nd quarter. Column Capital Advisors LLC now owns 648 shares of the oil and gas company’s stock worth $32,000 after purchasing an additional 217 shares during the period. Finally, Howland Capital Management LLC increased its holdings in shares of 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 in the last quarter. Institutional investors and hedge funds own 79.43% of the company’s stock.
Insider Transactions at Schlumberger
In related news, CFO Stephane Biguet sold 6,250 shares of the business’s stock in a transaction dated Monday, August 28th. The stock was sold at an average price of $56.85, for a total value of $355,312.50. Following the completion of the sale, the chief financial officer now directly owns 188,515 shares of the company’s stock, valued at $10,717,077.75. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, CTO Demosthenis Pafitis sold 60,000 shares of Schlumberger stock in a transaction dated Wednesday, August 30th. The shares were sold at an average price of $58.83, for a total value of $3,529,800.00. Following the completion of the transaction, the chief technology officer now directly owns 36,858 shares of the company’s stock, valued at approximately $2,168,356.14. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Stephane Biguet sold 6,250 shares of Schlumberger stock in a transaction dated Monday, August 28th. The shares were sold at an average price of $56.85, for a total transaction of $355,312.50. Following the completion of the transaction, the chief financial officer now directly owns 188,515 shares of the company’s stock, valued at $10,717,077.75. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 109,250 shares of company stock valued at $6,441,505. Insiders own 0.23% of the company’s stock.
Schlumberger Trading Down 1.2 %
Schlumberger (NYSE:SLB – Get Free Report) last released its earnings results on Friday, October 20th. The oil and gas company reported $0.78 EPS for the quarter, beating the consensus estimate of $0.77 by $0.01. The company had revenue of $8.31 billion during the quarter, compared to analysts’ expectations of $8.32 billion. Schlumberger had a return on equity of 21.80% and a net margin of 12.98%. The business’s revenue was up 11.1% on a year-over-year basis. During the same period in the prior year, the business posted $0.63 EPS. Equities research analysts predict that Schlumberger Limited will post 2.97 EPS for the current fiscal year.
Schlumberger Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Thursday, January 11th. Stockholders of record on Wednesday, December 6th will be paid a $0.25 dividend. The ex-dividend date is Tuesday, December 5th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.86%. Schlumberger’s dividend payout ratio (DPR) is presently 34.60%.
Analyst Ratings Changes
A number of research firms recently commented on SLB. Morgan Stanley reissued an “overweight” rating and set a $62.00 price objective on shares of Schlumberger in a report on Monday, July 24th. Piper Sandler boosted their price objective on shares of Schlumberger from $64.00 to $77.00 and gave the stock an “overweight” rating in a report on Monday, September 11th. Susquehanna boosted their price objective on shares of Schlumberger from $68.00 to $72.00 and gave the stock a “positive” rating in a report on Thursday, September 7th. Raymond James boosted their price objective on shares of Schlumberger from $68.00 to $72.00 and gave the stock an “outperform” rating in a report on Monday, October 23rd. Finally, Barclays lifted their price target on Schlumberger from $75.00 to $77.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 24th. Two analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $70.36.
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, integration of adjacent energy systems; reservoir interpretation and data processing services for exploration data; and well construction and production improvement services and products.
- Five stocks we like better than Schlumberger
- How to Invest in Small Cap Stocks
- Buffett’s latest portfolio additions, trims, and cuts in Q3
- What is a Secondary Public Offering? What Investors Need to Know
- 5 reasons TJX Companies will hit new highs in 2024
- What is a Mid Cap Stock? How to Invest
- Game-changing news for Ambarella puts the market in reversal
Receive News & Ratings for Schlumberger Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Schlumberger and related companies with MarketBeat.com's FREE daily email newsletter.