Bessemer Group Inc. lessened its stake in shares of Schlumberger Limited (NYSE:SLB – Free Report) by 1.1% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 5,110,966 shares of the oil and gas company’s stock after selling 58,211 shares during the quarter. Bessemer Group Inc. owned approximately 0.36% of Schlumberger worth $251,050,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently made changes to their positions in SLB. Acadian Asset Management LLC bought a new position in shares of Schlumberger during the first quarter valued at about $25,000. Exos TFP Holdings LLC lifted its holdings in Schlumberger by 269.7% in the 1st quarter. Exos TFP Holdings LLC now owns 536 shares of the oil and gas company’s stock worth $26,000 after buying an additional 391 shares during the period. Impact Partnership Wealth LLC purchased a new stake in Schlumberger in the 2nd quarter worth approximately $31,000. Column Capital Advisors LLC lifted its holdings in Schlumberger by 50.3% in the 2nd quarter. Column Capital Advisors LLC now owns 648 shares of the oil and gas company’s stock worth $32,000 after buying an additional 217 shares during the period. Finally, Resurgent Financial Advisors LLC bought a new stake in shares of Schlumberger in the 4th quarter worth approximately $35,000. Institutional investors own 79.43% of the company’s stock.
Analysts Set New Price Targets
A number of brokerages recently commented on SLB. Susquehanna upped their target price on Schlumberger from $68.00 to $72.00 and gave the company a “positive” rating in a report on Thursday, September 7th. Benchmark reaffirmed a “buy” rating and issued a $65.00 target price on shares of Schlumberger in a research report on Monday, July 24th. StockNews.com began coverage on shares of Schlumberger in a research note on Thursday, October 5th. They issued a “hold” rating for the company. Societe Generale assumed coverage on Schlumberger in a research report on Monday, October 9th. They set a “buy” rating and a $81.00 price objective on the stock. Finally, HSBC decreased their target price on Schlumberger from $75.00 to $71.00 in a research report on Thursday, July 27th. Two investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $70.36.
Schlumberger Stock Down 0.1 %
Shares of NYSE:SLB traded down $0.04 on Monday, hitting $52.81. 2,121,871 shares of the company traded hands, compared to its average volume of 9,261,450. The stock has a 50 day simple moving average of $57.62 and a 200-day simple moving average of $54.12. The company has a quick ratio of 1.02, a current ratio of 1.36 and a debt-to-equity ratio of 0.57. The company has a market cap of $75.17 billion, a PE ratio of 18.29, a PEG ratio of 0.71 and a beta of 1.77. Schlumberger Limited has a 52 week low of $42.73 and a 52 week high of $62.78.
Schlumberger (NYSE:SLB – Get Free Report) last released its quarterly earnings data on Friday, October 20th. The oil and gas company reported $0.78 earnings per share for the quarter, beating analysts’ consensus estimates of $0.77 by $0.01. The business had revenue of $8.31 billion during the quarter, compared to analyst estimates of $8.32 billion. Schlumberger had a net margin of 12.98% and a return on equity of 21.80%. Schlumberger’s revenue was up 11.1% compared to the same quarter last year. During the same period last year, the business earned $0.63 EPS. As a group, research analysts expect that Schlumberger Limited will post 2.97 earnings per share for the current year.
Schlumberger Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 11th. Investors of record on Wednesday, December 6th will be given a $0.25 dividend. The ex-dividend date of this dividend is Tuesday, December 5th. This represents a $1.00 annualized dividend and a yield of 1.89%. Schlumberger’s dividend payout ratio (DPR) is presently 34.60%.
Insider Buying and Selling at Schlumberger
In other news, CFO Stephane Biguet sold 6,250 shares of the business’s stock in a transaction on 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 transaction, the chief financial officer now owns 188,515 shares in the company, valued at $10,717,077.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CFO Stephane Biguet sold 6,250 shares of the firm’s 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 sale, the chief financial officer now owns 188,515 shares of the company’s stock, valued at approximately $10,717,077.75. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director La Chevardiere Patrick De sold 500 shares of the business’s stock in a transaction that occurred on Tuesday, October 24th. The shares were sold at an average price of $57.76, for a total transaction of $28,880.00. Following the transaction, the director now directly owns 28,810 shares of the company’s stock, valued at $1,664,065.60. The disclosure for this sale can be found here. In the last three months, insiders have sold 109,250 shares of company stock worth $6,441,505. Insiders own 0.23% of the company’s stock.
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.
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