Assenagon Asset Management S.A. Raises Stock Position in Schlumberger Limited (NYSE:SLB)

Assenagon Asset Management S.A. lifted its position in Schlumberger Limited (NYSE:SLB - Free Report) by 136.0% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 100,328 shares of the oil and gas company's stock after acquiring an additional 57,817 shares during the period. Assenagon Asset Management S.A.'s holdings in Schlumberger were worth $4,194,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in Schlumberger during the fourth quarter worth $735,398,000. Price T Rowe Associates Inc. MD boosted its stake in shares of Schlumberger by 7.4% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 75,986,195 shares of the oil and gas company's stock worth $2,913,312,000 after acquiring an additional 5,225,828 shares in the last quarter. Lazard Asset Management LLC grew its position in shares of Schlumberger by 3,112.1% during the 4th quarter. Lazard Asset Management LLC now owns 3,627,051 shares of the oil and gas company's stock valued at $139,059,000 after acquiring an additional 3,514,134 shares during the period. Deutsche Bank AG increased its stake in shares of Schlumberger by 12.2% in the 4th quarter. Deutsche Bank AG now owns 28,737,703 shares of the oil and gas company's stock valued at $1,101,804,000 after purchasing an additional 3,119,543 shares in the last quarter. Finally, Clearbridge Investments LLC raised its holdings in Schlumberger by 43,028.0% in the 4th quarter. Clearbridge Investments LLC now owns 2,652,804 shares of the oil and gas company's stock worth $101,708,000 after purchasing an additional 2,646,653 shares during the period. Hedge funds and other institutional investors own 81.99% of the company's stock.

Insider Buying and Selling at Schlumberger

In related news, insider Aparna Raman sold 25,133 shares of the business's stock in a transaction on Friday, March 28th. The stock was sold at an average price of $42.28, for a total transaction of $1,062,623.24. Following the completion of the transaction, the insider now directly owns 31,031 shares of the company's stock, valued at $1,311,990.68. The trade was a 44.75% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director La Chevardiere Patrick De sold 5,000 shares of the stock in a transaction that occurred on Thursday, May 22nd. The shares were sold at an average price of $33.58, for a total transaction of $167,900.00. Following the completion of the sale, the director now directly owns 23,525 shares in the company, valued at approximately $789,969.50. This represents a 17.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.26% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Morgan Stanley cut their price objective on Schlumberger from $50.00 to $45.00 and set an "overweight" rating for the company in a research report on Friday, May 16th. Piper Sandler cut their price target on shares of Schlumberger from $46.00 to $44.00 and set a "neutral" rating for the company in a report on Tuesday, April 29th. Stifel Nicolaus dropped their target price on shares of Schlumberger from $58.00 to $54.00 and set a "buy" rating on the stock in a research report on Monday, April 28th. Wells Fargo & Company reduced their price target on shares of Schlumberger from $46.00 to $43.00 and set an "overweight" rating for the company in a research report on Thursday, June 5th. Finally, Susquehanna lowered their price objective on Schlumberger from $48.00 to $46.00 and set a "positive" rating on the stock in a report on Monday, April 28th. Four investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $52.38.

Schlumberger Trading Down 1.1%

NYSE:SLB traded down $0.40 on Monday, hitting $35.90. The stock had a trading volume of 16,100,138 shares, compared to its average volume of 13,555,006. The company has a fifty day moving average price of $34.36 and a two-hundred day moving average price of $38.31. Schlumberger Limited has a 1-year low of $31.11 and a 1-year high of $50.94. The company has a quick ratio of 1.11, a current ratio of 1.45 and a debt-to-equity ratio of 0.49. The stock has a market cap of $48.84 billion, a price-to-earnings ratio of 11.54, a PEG ratio of 10.10 and a beta of 1.01.

Schlumberger (NYSE:SLB - Get Free Report) last issued its quarterly earnings data 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). Schlumberger had a return on equity of 21.90% and a net margin of 12.29%. The business had revenue of $8.49 billion during the quarter, compared to analysts' expectations of $8.64 billion. During the same quarter in the previous year, the company posted $0.75 earnings per share. The company's revenue was down 2.5% on a year-over-year basis. Equities research analysts expect that Schlumberger Limited will post 3.38 earnings per share for the current fiscal year.

Schlumberger Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 10th. Shareholders of record on Wednesday, June 4th will be paid a dividend of $0.285 per share. This represents a $1.14 annualized dividend and a yield of 3.18%. The ex-dividend date of this dividend is Wednesday, June 4th. Schlumberger's dividend payout ratio (DPR) is presently 38.64%.

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.