Generali Asset Management SPA SGR Buys 41,703 Shares of Schlumberger Limited $SLB

Key Points

• Generali Asset Management SPA SGR increased its stake in Schlumberger Limited by 23.0%, acquiring an additional 41,703 shares, bringing its total holdings to 222,984 shares worth approximately $7.54 million.
• Several large investors lifted their positions in Schlumberger during the second quarter, with AEGON ASSET MANAGEMENT UK Plc increasing its stake by 47.8% to own over $35.9 million worth of shares.
• Analysts have a mixed outlook on Schlumberger, with two ratings as "Strong Buy," twelve as "Buy," and six as "Hold," while the average target price is currently set at $52.06.

Generali Asset Management SPA SGR raised its stake in shares of Schlumberger Limited (NYSE:SLB - Free Report) by 23.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 222,984 shares of the oil and gas company's stock after acquiring an additional 41,703 shares during the period. Generali Asset Management SPA SGR's holdings in Schlumberger were worth $7,537,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Ritholtz Wealth Management lifted its position in shares of Schlumberger by 27.2% during the second quarter. Ritholtz Wealth Management now owns 36,350 shares of the oil and gas company's stock valued at $1,229,000 after purchasing an additional 7,766 shares in the last quarter. Mitchell Mcleod Pugh & Williams Inc. lifted its position in shares of Schlumberger by 2.3% during the 2nd quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 16,062 shares of the oil and gas company's stock worth $543,000 after buying an additional 365 shares in the last quarter. AEGON ASSET MANAGEMENT UK Plc lifted its position in shares of Schlumberger by 47.8% during the 2nd quarter. AEGON ASSET MANAGEMENT UK Plc now owns 1,063,633 shares of the oil and gas company's stock worth $35,919,000 after buying an additional 343,906 shares in the last quarter. Boston Trust Walden Corp lifted its position in shares of Schlumberger by 47.4% during the 2nd quarter. Boston Trust Walden Corp now owns 582,751 shares of the oil and gas company's stock worth $19,697,000 after buying an additional 187,490 shares in the last quarter. Finally, Morningstar Investment Management LLC lifted its position in shares of Schlumberger by 23.7% during the 2nd quarter. Morningstar Investment Management LLC now owns 15,744 shares of the oil and gas company's stock worth $532,000 after buying an additional 3,015 shares in the last quarter. 81.99% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Wells Fargo & Company lowered Schlumberger from a "strong-buy" rating to a "hold" rating in a report on Sunday, July 20th. Weiss Ratings reiterated a "hold (c-)" rating on shares of Schlumberger in a research note on Wednesday, October 8th. Atb Cap Markets raised shares of Schlumberger from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, July 1st. JPMorgan Chase & Co. lowered their price target on shares of Schlumberger from $46.00 to $44.00 and set an "overweight" rating on the stock in a report on Monday, June 30th. Finally, Melius Research began coverage on shares of Schlumberger in a report on Wednesday, August 20th. They issued a "buy" rating and a $82.00 price target on the stock. Two investment analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat.com, Schlumberger presently has an average rating of "Moderate Buy" and a consensus target price of $52.06.

Insiders Place Their Bets

In related news, insider Dianne B. Ralston sold 39,727 shares of the company's stock in a transaction that occurred on Friday, September 12th. The shares were sold at an average price of $36.08, for a total transaction of $1,433,350.16. Following the sale, the insider owned 202,201 shares of the company's stock, valued at approximately $7,295,412.08. This represents a 16.42% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.22% of the company's stock.

Schlumberger Stock Performance

NYSE:SLB opened at $32.55 on Thursday. The business's fifty day moving average is $34.49 and its 200 day moving average is $34.71. Schlumberger Limited has a 52-week low of $31.11 and a 52-week high of $44.97. The firm has a market cap of $48.62 billion, a price-to-earnings ratio of 11.15, a PEG ratio of 9.06 and a beta of 0.97. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.98 and a current ratio of 1.31.

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

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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