Nan Shan Life Insurance Co. Ltd. Cuts Stock Holdings in Schlumberger Limited $SLB

Key Points

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Nan Shan Life Insurance Co. Ltd. lessened its holdings in Schlumberger Limited (NYSE:SLB - Free Report) by 14.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 222,835 shares of the oil and gas company's stock after selling 37,283 shares during the period. Nan Shan Life Insurance Co. Ltd.'s holdings in Schlumberger were worth $9,315,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Brighton Jones LLC boosted its holdings in Schlumberger by 21.4% during the 4th quarter. Brighton Jones LLC now owns 6,611 shares of the oil and gas company's stock worth $253,000 after acquiring an additional 1,166 shares during the last quarter. CreativeOne Wealth LLC boosted its holdings in Schlumberger by 8.2% during the 4th quarter. CreativeOne Wealth LLC now owns 5,320 shares of the oil and gas company's stock worth $204,000 after acquiring an additional 405 shares during the last quarter. NewEdge Advisors LLC boosted its holdings in Schlumberger by 25.6% during the 4th quarter. NewEdge Advisors LLC now owns 52,950 shares of the oil and gas company's stock worth $2,030,000 after acquiring an additional 10,791 shares during the last quarter. GeoWealth Management LLC boosted its holdings in Schlumberger by 106.4% during the 4th quarter. GeoWealth Management LLC now owns 9,001 shares of the oil and gas company's stock worth $345,000 after acquiring an additional 4,641 shares during the last quarter. Finally, First Trust Advisors LP boosted its holdings in Schlumberger by 106.1% during the 4th quarter. First Trust Advisors LP now owns 1,360,818 shares of the oil and gas company's stock worth $52,174,000 after acquiring an additional 700,412 shares during the last quarter. Institutional investors and hedge funds own 81.99% of the company's stock.

Schlumberger Stock Performance

Schlumberger stock traded up $1.7650 during midday trading on Friday, reaching $35.5750. The stock had a trading volume of 16,023,117 shares, compared to its average volume of 16,241,825. Schlumberger Limited has a 12 month low of $31.11 and a 12 month high of $46.16. The firm's 50-day moving average price is $34.53 and its 200 day moving average price is $36.40. The firm has a market capitalization of $48.07 billion, a PE ratio of 12.18, a P/E/G ratio of 9.26 and a beta of 1.03. The company has a quick ratio of 0.98, a current ratio of 1.31 and a debt-to-equity ratio of 0.51.

Schlumberger (NYSE:SLB - Get Free Report) last announced its quarterly earnings data on Friday, July 18th. The oil and gas company reported $0.74 earnings per share (EPS) for the quarter, beating 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 analysts' expectations of $8.51 billion. During the same period in the previous year, the business posted $0.85 EPS. The firm's quarterly revenue was down 6.5% compared to the same quarter last year. As a group, research analysts predict that Schlumberger Limited will post 3.38 earnings per share for the current fiscal year.

Schlumberger Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 9th. Stockholders of record on Wednesday, September 3rd will be given a dividend of $0.285 per share. The ex-dividend date is Wednesday, September 3rd. This represents a $1.14 annualized dividend and a dividend yield of 3.2%. Schlumberger's dividend payout ratio is currently 39.04%.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on SLB shares. Melius started coverage on shares of Schlumberger in a report on Wednesday. They set a "buy" rating and a $82.00 price objective on the stock. Stifel Nicolaus cut their price objective on shares of Schlumberger from $54.00 to $52.00 and set a "buy" rating on the stock in a report on Wednesday, July 16th. Barclays cut their price objective on shares of Schlumberger from $47.00 to $46.00 and set an "overweight" rating on the stock in a report on Monday, July 21st. Piper Sandler lowered their target price on Schlumberger from $44.00 to $42.00 and set a "neutral" rating on the stock in a research note on Friday, July 18th. Finally, Atb Cap Markets upgraded Schlumberger from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, July 1st. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $52.86.

Schlumberger 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, and integration of adjacent energy systems; reservoir interpretation and data processing services for exploration data; and well construction and production improvement services and products.