Amalgamated Bank Trims Position in Schlumberger Limited (NYSE:SLB)

Amalgamated Bank lessened its holdings in shares of Schlumberger Limited (NYSE:SLB) by 3.2% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 279,507 shares of the oil and gas company’s stock after selling 9,171 shares during the quarter. Amalgamated Bank’s holdings in Schlumberger were worth $11,725,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Capital World Investors raised its stake in Schlumberger by 72.3% in the first quarter. Capital World Investors now owns 88,950,956 shares of the oil and gas company’s stock worth $4,875,402,000 after buying an additional 37,333,485 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of Schlumberger by 14.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 85,986,039 shares of the oil and gas company’s stock worth $4,712,897,000 after acquiring an additional 10,606,191 shares in the last quarter. Boston Partners raised its position in shares of Schlumberger by 35.8% in the 1st quarter. Boston Partners now owns 11,640,827 shares of the oil and gas company’s stock worth $635,883,000 after acquiring an additional 3,069,395 shares in the last quarter. Ceredex Value Advisors LLC purchased a new position in shares of Schlumberger in the 2nd quarter valued at approximately $92,944,000. Finally, 1832 Asset Management L.P. bought a new stake in shares of Schlumberger during the second quarter valued at approximately $91,364,000. Hedge funds and other institutional investors own 81.99% of the company’s stock.

Schlumberger Trading Up 0.6 %

Shares of SLB stock opened at $40.55 on Wednesday. The company has a current ratio of 1.48, a quick ratio of 1.12 and a debt-to-equity ratio of 0.52. The stock has a market capitalization of $57.26 billion, a price-to-earnings ratio of 13.04, a price-to-earnings-growth ratio of 1.40 and a beta of 1.52. Schlumberger Limited has a 12-month low of $38.66 and a 12-month high of $57.47. The stock’s 50-day moving average price is $42.25 and its 200-day moving average price is $44.97.

Schlumberger (NYSE:SLB) last released its quarterly earnings results on Friday, October 18th. The oil and gas company reported $0.89 EPS for the quarter, topping the consensus estimate of $0.88 by $0.01. The company had revenue of $9.16 billion during the quarter, compared to analyst estimates of $9.27 billion. Schlumberger had a return on equity of 21.84% and a net margin of 12.44%. The firm’s revenue was up 10.2% on a year-over-year basis. During the same quarter last year, the business posted $0.78 earnings per share. Equities research analysts predict that Schlumberger Limited will post 3.4 EPS for the current fiscal year.

Schlumberger Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 9th. Investors 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 yield of 2.71%. The ex-dividend date is Wednesday, December 4th. Schlumberger’s dividend payout ratio (DPR) is currently 35.37%.

Insiders Place Their Bets

In other news, EVP Abdellah Merad sold 60,000 shares of the stock in a transaction that occurred on 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 sale, the executive vice president now directly owns 211,937 shares in the company, valued at approximately $8,880,160.30. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.26% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities analysts have commented on the company. Piper Sandler lowered their price objective on Schlumberger from $71.00 to $66.00 and set an “overweight” rating for the company in a research report on Monday, July 15th. BMO Capital Markets dropped their price objective on shares of Schlumberger from $60.00 to $58.00 and set an “outperform” rating on the stock in a research note on Thursday, October 10th. Wells Fargo & Company decreased their target price on shares of Schlumberger from $53.00 to $49.00 and set an “equal weight” rating for the company in a research note on Wednesday, September 25th. Morgan Stanley cut their price target on Schlumberger from $65.00 to $60.00 and set an “overweight” rating on the stock in a research note on Monday, September 16th. Finally, Susquehanna dropped their target price on Schlumberger from $60.00 to $56.00 and set a “positive” rating on the stock in a report on Monday, October 21st. Two analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $60.97.

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.