Schlumberger Limited (NYSE:SLB) Shares Bought by Allianz SE

Key Points

• Allianz SE increased its stake in Schlumberger Limited by 20.7% during the first quarter, owning 199,818 shares worth approximately $8.35 million.
• Schlumberger's recent quarterly earnings reported an EPS of $0.74, beating estimates by $0.01, while also generating revenue of $8.55 billion, a 6.5% decrease year-over-year.
• The company has declared a quarterly dividend of $0.285, resulting in an annualized yield of 3.5%, with the ex-dividend date set for September 3rd.

Allianz SE increased its holdings in shares of Schlumberger Limited (NYSE:SLB - Free Report) by 20.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 199,818 shares of the oil and gas company's stock after acquiring an additional 34,223 shares during the period. Allianz SE's holdings in Schlumberger were worth $8,352,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Dynamic Technology Lab Private Ltd increased its stake in Schlumberger by 32.2% in the fourth quarter. Dynamic Technology Lab Private Ltd now owns 71,390 shares of the oil and gas company's stock valued at $2,737,000 after purchasing an additional 17,405 shares during the last quarter. Scharf Investments LLC grew its stake in shares of Schlumberger by 20.5% in the first quarter. Scharf Investments LLC now owns 1,653,895 shares of the oil and gas company's stock valued at $69,133,000 after buying an additional 281,773 shares in the last quarter. Integrated Advisors Network LLC grew its stake in shares of Schlumberger by 810.4% in the first quarter. Integrated Advisors Network LLC now owns 75,163 shares of the oil and gas company's stock valued at $3,142,000 after buying an additional 66,907 shares in the last quarter. Alan B Lancz & Associates Inc. acquired a new stake in shares of Schlumberger in the first quarter valued at about $308,000. Finally, Stratos Investment Management LLC grew its stake in shares of Schlumberger by 236.0% in the first quarter. Stratos Investment Management LLC now owns 146,908 shares of the oil and gas company's stock valued at $6,141,000 after buying an additional 103,182 shares in the last quarter. Institutional investors and hedge funds own 81.99% of the company's stock.

Analysts Set New Price Targets

A number of research analysts recently commented on SLB shares. Piper Sandler reduced their price target on Schlumberger from $44.00 to $42.00 and set a "neutral" rating for the company in a report on Friday, July 18th. JPMorgan Chase & Co. dropped their price target on Schlumberger from $46.00 to $44.00 and set an "overweight" rating on the stock in a research report on Monday, June 30th. Jefferies Financial Group dropped their price target on Schlumberger from $54.00 to $53.00 and set a "buy" rating on the stock in a research report on Thursday, June 26th. UBS Group raised their target price on Schlumberger from $44.00 to $45.00 and gave the company a "buy" rating in a research report on Wednesday, July 2nd. Finally, Stifel Nicolaus lowered their target price on Schlumberger from $54.00 to $52.00 and set a "buy" rating on the stock in a research report on Wednesday, July 16th. Four investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $49.28.

Schlumberger Stock Performance

SLB opened at $33.04 on Friday. The business's 50-day moving average price is $34.78 and its two-hundred day moving average price is $37.21. Schlumberger Limited has a 1 year low of $31.11 and a 1 year high of $46.16. The company has a market capitalization of $44.65 billion, a price-to-earnings ratio of 11.32, a P/E/G ratio of 9.17 and a beta of 1.03. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.31 and a quick ratio of 0.98.

Schlumberger (NYSE:SLB - Get Free Report) last released its quarterly earnings results on Friday, July 18th. The oil and gas company reported $0.74 earnings per share (EPS) 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 the consensus estimate of $8.51 billion. During the same quarter last year, the business posted $0.85 EPS. The company's revenue for the quarter was down 6.5% on a year-over-year basis. Equities analysts expect that Schlumberger Limited will post 3.38 EPS for the current fiscal year.

Schlumberger Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 9th. Shareholders of record on Wednesday, September 3rd will be issued a $0.285 dividend. This represents a $1.14 annualized dividend and a yield of 3.5%. The ex-dividend date of this dividend is Wednesday, September 3rd. Schlumberger's dividend payout ratio (DPR) is presently 39.04%.

Insider Buying and Selling

In other Schlumberger news, Director La Chevardiere Patrick De sold 5,000 shares of the business's stock in a transaction dated Thursday, May 22nd. The shares were sold at an average price of $33.58, for a total value of $167,900.00. Following the transaction, the director owned 23,525 shares in the company, valued at approximately $789,969.50. The trade was a 17.53% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.26% of the stock is currently owned by insiders.

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, 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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