GAMMA Investing LLC Purchases 1,678 Shares of Schlumberger Limited (NYSE:SLB)

GAMMA Investing LLC boosted its holdings in shares of Schlumberger Limited (NYSE:SLB) by 12.8% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 14,828 shares of the oil and gas company’s stock after purchasing an additional 1,678 shares during the quarter. GAMMA Investing LLC’s holdings in Schlumberger were worth $700,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Carolinas Wealth Consulting LLC increased its stake in Schlumberger by 53.5% in the fourth quarter. Carolinas Wealth Consulting LLC now owns 1,960 shares of the oil and gas company’s stock worth $102,000 after purchasing an additional 683 shares during the period. Asset Management One Co. Ltd. grew its stake in Schlumberger by 6.3% in the fourth quarter. Asset Management One Co. Ltd. now owns 607,312 shares of the oil and gas company’s stock worth $31,726,000 after purchasing an additional 35,763 shares in the last quarter. National Bank of Canada FI boosted its stake in shares of Schlumberger by 15.0% during the first quarter. National Bank of Canada FI now owns 396,382 shares of the oil and gas company’s stock valued at $21,726,000 after purchasing an additional 51,637 shares in the last quarter. Mission Wealth Management LP purchased a new stake in Schlumberger during the first quarter valued at approximately $245,000. Finally, Sapient Capital LLC acquired a new stake in Schlumberger in the 4th quarter worth approximately $1,389,000. Institutional investors own 81.99% of the company’s stock.

Schlumberger Stock Down 2.7 %

SLB traded down $1.21 during trading hours on Monday, hitting $43.72. 8,481,134 shares of the company’s stock were exchanged, compared to its average volume of 10,995,767. The company has a current ratio of 1.49, a quick ratio of 1.13 and a debt-to-equity ratio of 0.55. Schlumberger Limited has a 12-month low of $42.61 and a 12-month high of $62.12. The firm has a market cap of $62.08 billion, a P/E ratio of 14.41, a price-to-earnings-growth ratio of 0.99 and a beta of 1.55. The firm has a 50 day moving average of $46.31 and a 200 day moving average of $48.92.

Schlumberger (NYSE:SLB) last announced its quarterly earnings data on Friday, July 19th. The oil and gas company reported $0.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.83 by $0.02. The business had revenue of $9.14 billion during the quarter, compared to analysts’ expectations of $9.08 billion. Schlumberger had a return on equity of 21.92% and a net margin of 12.56%. The business’s quarterly revenue was up 12.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.72 EPS. Analysts predict that Schlumberger Limited will post 3.49 EPS for the current fiscal year.

Schlumberger Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 10th. Shareholders of record on Wednesday, September 4th will be paid a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a yield of 2.52%. The ex-dividend date of this dividend is Wednesday, September 4th. Schlumberger’s dividend payout ratio is presently 36.54%.

Insider Activity

In other Schlumberger news, insider Gavin Rennick sold 38,083 shares of the firm’s stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $48.28, for a total transaction of $1,838,647.24. Following the transaction, the insider now owns 45,851 shares of the company’s stock, valued at $2,213,686.28. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Schlumberger news, insider Gavin Rennick sold 38,083 shares of Schlumberger stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $48.28, for a total value of $1,838,647.24. Following the completion of the sale, the insider now owns 45,851 shares in the company, valued at approximately $2,213,686.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Vijay Kasibhatla sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, July 22nd. The stock was sold at an average price of $49.29, for a total transaction of $492,900.00. Following the transaction, the director now directly owns 62,354 shares of the company’s stock, valued at approximately $3,073,428.66. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 286,874 shares of company stock worth $14,148,517. 0.26% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

SLB has been the subject of several recent research reports. Bank of America reduced their target price on shares of Schlumberger from $62.00 to $58.00 and set a “buy” rating for the company in a report on Monday, July 15th. TD Cowen upped their price target on shares of Schlumberger from $62.00 to $64.00 and gave the stock a “buy” rating in a research report on Monday, July 22nd. BMO Capital Markets lowered their target price on shares of Schlumberger from $66.00 to $64.00 and set an “outperform” rating on the stock in a research note on Monday, April 22nd. Piper Sandler reduced their target price on shares of Schlumberger from $71.00 to $66.00 and set an “overweight” rating for the company in a research report on Monday, July 15th. Finally, Evercore ISI boosted their price target on shares of Schlumberger from $73.00 to $74.00 and gave the stock an “outperform” rating in a research report on Monday, July 22nd. Two analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $67.56.

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.