Commerzbank Aktiengesellschaft FI Acquires 28,711 Shares of Schlumberger Limited $SLB

Key Points

• Commerzbank Aktiengesellschaft FI increased its stake in Schlumberger Limited by 66.0%, acquiring an additional 28,711 shares, bringing its total to 72,197 shares valued at approximately $2.44 million.
• In addition to Commerzbank, other institutional investors significantly changed their holdings, with Charles Schwab Investment Management increasing its position by 478.8% to nearly 47.72 million shares.
• The company announced a quarterly dividend of $0.285 per share, yielding 3.4%, which reflects a commitment to returning value to shareholders.

Commerzbank Aktiengesellschaft FI grew its position in shares of Schlumberger Limited (NYSE:SLB - Free Report) by 66.0% in the second quarter, according to its most recent filing with the SEC. The fund owned 72,197 shares of the oil and gas company's stock after acquiring an additional 28,711 shares during the quarter. Commerzbank Aktiengesellschaft FI's holdings in Schlumberger were worth $2,440,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Charles Schwab Investment Management Inc. boosted its position in shares of Schlumberger by 478.8% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 47,719,476 shares of the oil and gas company's stock valued at $1,994,674,000 after acquiring an additional 39,474,501 shares during the last quarter. Boston Partners boosted its position in shares of Schlumberger by 27.7% during the 1st quarter. Boston Partners now owns 19,829,381 shares of the oil and gas company's stock valued at $824,160,000 after acquiring an additional 4,300,222 shares during the last quarter. Northern Trust Corp boosted its position in shares of Schlumberger by 4.4% during the 1st quarter. Northern Trust Corp now owns 14,422,499 shares of the oil and gas company's stock valued at $602,860,000 after acquiring an additional 604,832 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Schlumberger by 22.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 8,989,115 shares of the oil and gas company's stock valued at $375,738,000 after acquiring an additional 1,667,203 shares during the last quarter. Finally, Invesco Ltd. boosted its position in shares of Schlumberger by 3.8% during the 1st quarter. Invesco Ltd. now owns 7,659,177 shares of the oil and gas company's stock valued at $320,154,000 after acquiring an additional 281,937 shares during the last quarter. 81.99% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Piper Sandler lowered their target price on Schlumberger from $44.00 to $42.00 and set a "neutral" rating for the company in a research report on Friday, July 18th. UBS Group decreased their price target on Schlumberger from $45.00 to $44.00 and set a "buy" rating on the stock in a report on Wednesday, August 20th. Melius Research assumed coverage on Schlumberger in a report on Wednesday, August 20th. They set a "buy" rating and a $82.00 price target on the stock. Melius assumed coverage on Schlumberger in a report on Wednesday, August 20th. They set a "buy" rating and a $82.00 price target on the stock. Finally, Barclays decreased their price target on Schlumberger from $47.00 to $46.00 and set an "overweight" rating on the stock in a report on Monday, July 21st. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $52.18.

Schlumberger Stock Performance

SLB stock opened at $33.11 on Friday. The company has a quick ratio of 0.98, a current ratio of 1.31 and a debt-to-equity ratio of 0.51. The business's fifty day simple moving average is $34.56 and its two-hundred day simple moving average is $34.99. Schlumberger Limited has a twelve month low of $31.11 and a twelve month high of $45.12. The firm has a market cap of $49.45 billion, a price-to-earnings ratio of 11.34, a PEG ratio of 9.44 and a beta of 0.97.

Schlumberger (NYSE:SLB - Get Free Report) last released its earnings results on Friday, July 18th. The oil and gas company reported $0.74 earnings per share for the quarter, topping analysts' consensus estimates of $0.73 by $0.01. Schlumberger had a return on equity of 20.99% and a net margin of 11.53%.The business had revenue of $8.55 billion for the quarter, compared to analyst estimates of $8.51 billion. During the same quarter last year, the firm posted $0.85 earnings per share. The business's revenue was down 6.5% compared to the same quarter last year. Analysts predict that Schlumberger Limited will post 3.38 earnings per share for the current year.

Schlumberger Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 9th. Shareholders of record on Wednesday, September 3rd were paid a $0.285 dividend. The ex-dividend date was Wednesday, September 3rd. This represents a $1.14 dividend on an annualized basis and a yield of 3.4%. Schlumberger's dividend payout ratio (DPR) is presently 39.04%.

Insiders Place Their Bets

In other Schlumberger news, insider Dianne B. Ralston sold 39,727 shares of the stock in a transaction on Friday, September 12th. The stock was sold at an average price of $36.08, for a total value of $1,433,350.16. Following the sale, the insider owned 202,201 shares in the company, valued at $7,295,412.08. This trade represents a 16.42% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.22% of the stock is currently owned by 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.

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