Schlumberger Limited (NYSE:SLB) Shares Bought by KG&L Capital Management LLC

KG&L Capital Management LLC grew its position in Schlumberger Limited (NYSE:SLB) by 49.4% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 20,379 shares of the oil and gas company’s stock after buying an additional 6,735 shares during the quarter. KG&L Capital Management LLC’s holdings in Schlumberger were worth $909,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. ORG Partners LLC boosted its stake in Schlumberger by 393.5% during the 3rd quarter. ORG Partners LLC now owns 607 shares of the oil and gas company’s stock worth $25,000 after purchasing an additional 484 shares during the last quarter. Bruce G. Allen Investments LLC grew its stake in Schlumberger by 204.2% during the 2nd quarter. Bruce G. Allen Investments LLC now owns 584 shares of the oil and gas company’s stock valued at $28,000 after acquiring an additional 392 shares in the last quarter. Unique Wealth Strategies LLC acquired a new stake in Schlumberger in the 2nd quarter valued at about $30,000. Manchester Capital Management LLC lifted its stake in Schlumberger by 297.9% in the 1st quarter. Manchester Capital Management LLC now owns 569 shares of the oil and gas company’s stock worth $31,000 after purchasing an additional 426 shares in the last quarter. Finally, Riverview Trust Co boosted its holdings in shares of Schlumberger by 90.6% during the 2nd quarter. Riverview Trust Co now owns 648 shares of the oil and gas company’s stock worth $31,000 after purchasing an additional 308 shares during the last quarter. 81.99% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, EVP Abdellah Merad sold 60,000 shares of Schlumberger stock in a transaction dated Thursday, October 24th. The stock was sold at an average price of $41.90, for a total value of $2,514,000.00. Following the completion of the transaction, the executive vice president now owns 211,937 shares in the company, valued at approximately $8,880,160.30. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.26% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on SLB shares. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $69.00 price target on shares of Schlumberger in a report on Thursday, October 3rd. Piper Sandler reduced their price target on Schlumberger from $71.00 to $66.00 and set an “overweight” rating on the stock in a report on Monday, July 15th. TD Cowen dropped their price objective on shares of Schlumberger from $68.00 to $65.00 and set a “buy” rating for the company in a report on Monday, October 21st. Wells Fargo & Company reduced their target price on shares of Schlumberger from $53.00 to $49.00 and set an “equal weight” rating on the stock in a research note on Wednesday, September 25th. Finally, Barclays decreased their target price on shares of Schlumberger from $67.00 to $63.00 and set an “overweight” rating on the stock in a report on Wednesday, October 16th. Two equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $60.97.

Schlumberger Price Performance

SLB stock opened at $39.76 on Monday. The business’s fifty day moving average price is $42.44 and its 200 day moving average price is $45.11. Schlumberger Limited has a 12-month low of $38.66 and a 12-month high of $57.75. The company has a market capitalization of $56.15 billion, a PE ratio of 12.78, a P/E/G ratio of 1.41 and a beta of 1.52. The company has a current ratio of 1.48, a quick ratio of 1.12 and a debt-to-equity ratio of 0.52.

Schlumberger (NYSE:SLB) last announced its quarterly earnings data on Friday, October 18th. The oil and gas company reported $0.89 earnings per share for the quarter, beating analysts’ consensus estimates of $0.88 by $0.01. Schlumberger had a net margin of 12.44% and a return on equity of 21.84%. The firm had revenue of $9.16 billion during the quarter, compared to analysts’ expectations of $9.27 billion. During the same quarter in the previous year, the business posted $0.78 earnings per share. The business’s quarterly revenue was up 10.2% compared to the same quarter last year. On average, sell-side analysts anticipate that Schlumberger Limited will post 3.4 EPS for the current year.

Schlumberger Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 9th. Investors of record on Wednesday, December 4th will be issued a $0.275 dividend. The ex-dividend date is Wednesday, December 4th. This represents a $1.10 dividend on an annualized basis and a yield of 2.77%. Schlumberger’s dividend payout ratio (DPR) is presently 35.37%.

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.