American Century Companies Inc. Has $268.36 Million Stake in Schlumberger Limited $SLB

Key Points

• American Century Companies Inc. reduced its stake in Schlumberger by 1.3%, owning 6,420,193 shares worth approximately $268.4 million after selling 86,618 shares during the quarter.
• Director La Chevardiere Patrick De sold 5,000 shares for $167,900, resulting in a 17.53% decrease in his holdings.
• Schlumberger recently announced a quarterly dividend of $0.285 per share, with a dividend yield of 3.4% and an upcoming ex-dividend date set for September 3rd.

American Century Companies Inc. cut its stake in Schlumberger Limited (NYSE:SLB - Free Report) by 1.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,420,193 shares of the oil and gas company's stock after selling 86,618 shares during the period. American Century Companies Inc. owned 0.47% of Schlumberger worth $268,364,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the company. Price T Rowe Associates Inc. MD boosted its position in shares of Schlumberger by 7.4% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 75,986,195 shares of the oil and gas company's stock valued at $2,913,312,000 after purchasing an additional 5,225,828 shares during the period. Charles Schwab Investment Management Inc. raised its stake 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 worth $1,994,674,000 after purchasing an additional 39,474,501 shares in the last quarter. Deutsche Bank AG raised 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 acquiring an additional 3,119,543 shares in the last quarter. Boston Partners raised its stake in shares of Schlumberger by 27.7% in 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 in the last quarter. Finally, Northern Trust Corp raised its stake in shares of Schlumberger by 9.4% in the 4th quarter. Northern Trust Corp now owns 13,817,667 shares of the oil and gas company's stock valued at $529,769,000 after acquiring an additional 1,192,399 shares in the last quarter. Institutional investors own 81.99% of the company's stock.

Schlumberger Trading Up 0.1%

NYSE:SLB traded up $0.0430 on Tuesday, reaching $33.3430. The company's stock had a trading volume of 9,740,282 shares, compared to its average volume of 16,306,846. Schlumberger Limited has a 1-year low of $31.11 and a 1-year high of $46.16. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.98 and a current ratio of 1.31. The firm has a market cap of $45.05 billion, a PE ratio of 11.42, a PEG ratio of 9.15 and a beta of 1.03. The business's 50-day moving average price is $34.65 and its two-hundred day moving average price is $36.49.

Schlumberger (NYSE:SLB - Get Free Report) last posted its earnings results 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. The firm had revenue of $8.55 billion during the quarter, compared to analysts' expectations of $8.51 billion. Schlumberger had a return on equity of 20.99% and a net margin of 11.53%.The company's revenue was down 6.5% on a year-over-year basis. During the same period in the previous year, the firm earned $0.85 earnings per share. Equities research analysts anticipate that Schlumberger Limited will post 3.38 earnings per share for the current fiscal year.

Schlumberger Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 9th. Shareholders of record on Wednesday, September 3rd will be paid a $0.285 dividend. The ex-dividend date is Wednesday, September 3rd. This represents a $1.14 annualized dividend and a yield of 3.4%. Schlumberger's dividend payout ratio is currently 39.04%.

Analysts Set New Price Targets

SLB has been the topic of a number of recent analyst reports. Jefferies Financial Group cut their price objective on Schlumberger from $54.00 to $53.00 and set a "buy" rating on the stock in a research note on Thursday, June 26th. Atb Cap Markets raised Schlumberger from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, July 1st. Piper Sandler decreased their price objective on Schlumberger from $44.00 to $42.00 and set a "neutral" rating on the stock in a report on Friday, July 18th. Barclays decreased their price objective on Schlumberger from $47.00 to $46.00 and set an "overweight" rating on the stock in a report on Monday, July 21st. Finally, JPMorgan Chase & Co. cut their target price on Schlumberger from $46.00 to $44.00 and set an "overweight" rating for the company in a research report on Monday, June 30th. Two analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $49.28.

Insider Transactions at Schlumberger

In other Schlumberger news, Director La Chevardiere Patrick De sold 5,000 shares of the company's stock in a transaction that occurred on Thursday, May 22nd. The stock was sold at an average price of $33.58, for a total value of $167,900.00. Following the sale, the director owned 23,525 shares in the company, valued at $789,969.50. This represents a 17.53% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.26% of the stock is owned by corporate 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.