Shell Asset Management Co. Purchases 20,387 Shares of Schlumberger Limited $SLB

Key Points

• Shell Asset Management Co. increased its position in Schlumberger Limited by 48.1%, acquiring an additional 20,387 shares, bringing its total holdings to 62,737 shares, valued at approximately $2.12 million.
• Insider Dianne B. Ralston recently sold 39,727 shares of Schlumberger, resulting in a 16.42% decrease of her holdings, now valued at over $7.29 million.
• Schlumberger's recent earnings report showed an EPS of $0.74, exceeding expectations, while the company also announced a quarterly dividend of $0.285 per share with a yield of 3.4%.

Shell Asset Management Co. increased its position in shares of Schlumberger Limited (NYSE:SLB - Free Report) by 48.1% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 62,737 shares of the oil and gas company's stock after purchasing an additional 20,387 shares during the period. Shell Asset Management Co.'s holdings in Schlumberger were worth $2,121,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. First Command Advisory Services Inc. raised its position in shares of Schlumberger by 300.0% during the 1st quarter. First Command Advisory Services Inc. now owns 636 shares of the oil and gas company's stock valued at $27,000 after purchasing an additional 477 shares during the period. Atlas Capital Advisors Inc. bought a new stake in Schlumberger in the 1st quarter valued at $33,000. Alpine Bank Wealth Management bought a new stake in Schlumberger in the 1st quarter valued at $34,000. Atticus Wealth Management LLC bought a new stake in Schlumberger in the 2nd quarter valued at $29,000. Finally, Park Square Financial Group LLC bought a new stake in Schlumberger in the 1st quarter valued at $38,000. 81.99% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, insider Dianne B. Ralston sold 39,727 shares of Schlumberger stock in a transaction dated 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 completion of the sale, the insider owned 202,201 shares in the company, valued at $7,295,412.08. This trade represents a 16.42% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.22% of the stock is owned by insiders.

Analyst Ratings Changes

SLB has been the topic of a number of research reports. Zacks Research upgraded shares of Schlumberger from a "strong sell" rating to a "hold" rating in a report on Monday, September 15th. Stifel Nicolaus reduced their price target 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. Atb Cap Markets upgraded shares of Schlumberger from a "hold" rating to a "strong-buy" rating in a report on Tuesday, July 1st. Jefferies Financial Group reduced their price target on shares of Schlumberger from $54.00 to $53.00 and set a "buy" rating on the stock in a report on Thursday, June 26th. Finally, Piper Sandler dropped their price objective on shares of Schlumberger from $44.00 to $42.00 and set a "neutral" rating for the company in a research note on Friday, July 18th. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and six have assigned a Hold rating to the company's stock. According to MarketBeat.com, Schlumberger currently has an average rating of "Moderate Buy" and an average target price of $52.18.

Schlumberger Price Performance

SLB stock opened at $33.99 on Thursday. Schlumberger Limited has a 12 month low of $31.11 and a 12 month high of $45.12. The company has a current ratio of 1.31, a quick ratio of 0.98 and a debt-to-equity ratio of 0.51. The company has a 50-day moving average price of $34.57 and a 200 day moving average price of $35.04. The stock has a market cap of $50.77 billion, a PE ratio of 11.64, a P/E/G ratio of 9.56 and a beta of 0.97.

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

Schlumberger Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 9th. Investors of record on Wednesday, September 3rd will be issued a dividend of $0.285 per share. The ex-dividend date is Wednesday, September 3rd. This represents a $1.14 dividend on an annualized basis and a yield of 3.4%. Schlumberger's dividend payout ratio (DPR) is presently 39.04%.

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.

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