AEGON ASSET MANAGEMENT UK Plc Grows Stock Holdings in Schlumberger Limited (NYSE:SLB)

AEGON ASSET MANAGEMENT UK Plc lifted its holdings in Schlumberger Limited (NYSE:SLB - Free Report) by 8.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 719,727 shares of the oil and gas company's stock after buying an additional 55,456 shares during the period. AEGON ASSET MANAGEMENT UK Plc owned approximately 0.05% of Schlumberger worth $30,077,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. RFG Advisory LLC purchased a new stake in shares of Schlumberger during the 1st quarter valued at approximately $998,000. InvesTrust raised its position in Schlumberger by 1.9% in the first quarter. InvesTrust now owns 105,738 shares of the oil and gas company's stock valued at $4,420,000 after purchasing an additional 1,953 shares during the period. HBW Advisory Services LLC acquired a new position in shares of Schlumberger in the 1st quarter valued at $298,000. ST Germain D J Co. Inc. grew its holdings in shares of Schlumberger by 0.3% during the 1st quarter. ST Germain D J Co. Inc. now owns 708,655 shares of the oil and gas company's stock worth $29,622,000 after purchasing an additional 2,144 shares during the period. Finally, Merit Financial Group LLC raised its holdings in Schlumberger by 132.3% in the 1st quarter. Merit Financial Group LLC now owns 34,132 shares of the oil and gas company's stock valued at $1,427,000 after buying an additional 19,438 shares during the period. 81.99% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have commented on the company. Piper Sandler decreased their price target on Schlumberger from $46.00 to $44.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 29th. Morgan Stanley decreased their target price on Schlumberger from $50.00 to $45.00 and set an "overweight" rating on the stock in a research note on Friday, May 16th. Barclays dropped their target price on Schlumberger from $53.00 to $48.00 and set an "overweight" rating for the company in a research report on Friday, April 25th. Wells Fargo & Company raised shares of Schlumberger from an "equal weight" rating to an "overweight" rating and reduced their price target for the stock from $46.00 to $44.00 in a research report on Tuesday, April 8th. Finally, Stifel Nicolaus dropped their price objective on shares of Schlumberger from $58.00 to $54.00 and set a "buy" rating for the company in a report on Monday, April 28th. Five investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $52.44.

Schlumberger Price Performance

Shares of NYSE:SLB traded down $0.85 on Wednesday, reaching $33.26. 13,544,485 shares of the company were exchanged, compared to its average volume of 13,493,054. The company has a 50-day moving average of $34.95 and a 200-day moving average of $38.85. The company has a current ratio of 1.45, a quick ratio of 1.11 and a debt-to-equity ratio of 0.49. The firm has a market cap of $45.24 billion, a price-to-earnings ratio of 10.69, a price-to-earnings-growth ratio of 10.10 and a beta of 1.06. Schlumberger Limited has a 1-year low of $31.11 and a 1-year high of $50.94.

Schlumberger (NYSE:SLB - Get Free Report) last issued its earnings results on Friday, April 25th. The oil and gas company reported $0.72 earnings per share for the quarter, missing the consensus estimate of $0.73 by ($0.01). The company had revenue of $8.49 billion for the quarter, compared to analyst estimates of $8.64 billion. Schlumberger had a return on equity of 21.90% and a net margin of 12.29%. The company's quarterly revenue was down 2.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.75 earnings per share. Equities analysts forecast that Schlumberger Limited will post 3.38 earnings per share for the current fiscal year.

Schlumberger Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 10th. Shareholders of record on Wednesday, June 4th will be given a dividend of $0.285 per share. The ex-dividend date of this dividend is Wednesday, June 4th. This represents a $1.14 dividend on an annualized basis and a yield of 3.43%. Schlumberger's payout ratio is 38.64%.

Insider Buying and Selling at Schlumberger

In related news, Director La Chevardiere Patrick De sold 5,000 shares of Schlumberger stock in a transaction that occurred on Thursday, May 22nd. The stock was sold at an average price of $33.58, for a total transaction of $167,900.00. Following the completion of the transaction, the director now directly owns 23,525 shares in the company, valued at $789,969.50. The trade was a 17.53% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Aparna Raman sold 25,133 shares of the company's stock in a transaction on Friday, March 28th. The shares were sold at an average price of $42.28, for a total value of $1,062,623.24. Following the completion of the sale, the insider now owns 31,031 shares in the company, valued at $1,311,990.68. This represents a 44.75% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.26% 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, and integration of adjacent energy systems; reservoir interpretation and data processing services for exploration data; and well construction and production improvement services and products.