Mitsubishi UFJ Asset Management UK Ltd. lowered its stake in Schlumberger Limited (NYSE:SLB – Free Report) by 11.1% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 8,000 shares of the oil and gas company’s stock after selling 1,000 shares during the quarter. Mitsubishi UFJ Asset Management UK Ltd.’s holdings in Schlumberger were worth $336,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in SLB. ORG Partners LLC lifted its position in Schlumberger by 393.5% during the third quarter. ORG Partners LLC now owns 607 shares of the oil and gas company’s stock valued at $25,000 after purchasing an additional 484 shares during the last quarter. Register Financial Advisors LLC bought a new position in shares of Schlumberger in the 1st quarter valued at about $27,000. Bruce G. Allen Investments LLC grew its position in Schlumberger by 204.2% in the second quarter. Bruce G. Allen Investments LLC now owns 584 shares of the oil and gas company’s stock worth $28,000 after acquiring an additional 392 shares in the last quarter. Unique Wealth Strategies LLC purchased a new stake in Schlumberger during the second quarter valued at approximately $30,000. Finally, Manchester Capital Management LLC raised its position in Schlumberger by 297.9% during the first quarter. Manchester Capital Management LLC now owns 569 shares of the oil and gas company’s stock valued at $31,000 after purchasing an additional 426 shares during the period. 81.99% of the stock is owned by institutional investors.
Insider Buying and Selling
In other news, EVP Mogharbel Khaled Al sold 120,668 shares of the company’s stock in a transaction on Monday, July 22nd. The stock was sold at an average price of $50.19, for a total transaction of $6,056,326.92. Following the transaction, the executive vice president now directly owns 247,699 shares of the company’s stock, valued at approximately $12,432,012.81. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, CFO Stephane Biguet sold 50,048 shares of the stock in a transaction dated Monday, July 22nd. The stock was sold at an average price of $49.94, for a total value of $2,499,397.12. Following the transaction, the chief financial officer now directly owns 203,076 shares of the company’s stock, valued at approximately $10,141,615.44. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Mogharbel Khaled Al sold 120,668 shares of Schlumberger stock in a transaction dated Monday, July 22nd. The stock was sold at an average price of $50.19, for a total value of $6,056,326.92. Following the sale, the executive vice president now directly owns 247,699 shares of the company’s stock, valued at $12,432,012.81. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 180,716 shares of company stock worth $9,048,624 in the last 90 days. 0.26% of the stock is owned by corporate insiders.
Schlumberger Stock Down 4.7 %
Schlumberger (NYSE:SLB – Get Free Report) last announced its earnings results on Friday, October 18th. The oil and gas company reported $0.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.88 by $0.01. The business had revenue of $9.16 billion for the quarter, compared to analysts’ expectations of $9.27 billion. Schlumberger had a return on equity of 21.92% and a net margin of 12.56%. The business’s revenue for the quarter was up 10.2% on a year-over-year basis. During the same quarter last year, the firm earned $0.78 EPS. As a group, research analysts expect that Schlumberger Limited will post 3.46 EPS for the current year.
Schlumberger Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 9th. Stockholders of record on Wednesday, December 4th will be given a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a dividend yield of 2.62%. The ex-dividend date is Wednesday, December 4th. Schlumberger’s payout ratio is currently 35.95%.
Analyst Ratings Changes
Several equities analysts have recently weighed in on the company. UBS Group cut their target price on Schlumberger from $63.00 to $57.00 and set a “buy” rating on the stock in a research report on Wednesday, September 18th. Bank of America reduced their target price on shares of Schlumberger from $58.00 to $54.00 and set a “buy” rating on the stock in a research note on Monday, October 14th. Piper Sandler cut their price target on shares of Schlumberger from $71.00 to $66.00 and set an “overweight” rating on the stock in a report on Monday, July 15th. Citigroup decreased their price objective on shares of Schlumberger from $65.00 to $62.00 and set a “buy” rating for the company in a research note on Friday, June 28th. Finally, Evercore ISI upped their target price on Schlumberger from $73.00 to $74.00 and gave the company an “outperform” rating in a research note on Monday, July 22nd. Two equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Schlumberger presently has an average rating of “Moderate Buy” and an average target price of $62.97.
View Our Latest Analysis on SLB
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.
Featured Articles
- Five stocks we like better than Schlumberger
- Why Understanding Call Option Volume is Essential to Successful Options Trading
- Misses and Beats: 3 Stocks That Are Moving Markets Right Now
- Stock Average Calculator
- Cisco on the Rise: AI Potential and Analyst Upgrades Drive Gains
- Asset Allocation: The Key to a Successful Portfolio. Are You Paying Attention to Yours?
- MarketBeat Week in Review – 10/14 – 10/18
Want to see what other hedge funds are holding SLB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Schlumberger Limited (NYSE:SLB – Free Report).
Receive News & Ratings for Schlumberger Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Schlumberger and related companies with MarketBeat.com's FREE daily email newsletter.