Schlumberger Limited (NYSE:SLB) Shares Sold by Gulf International Bank UK Ltd

Gulf International Bank UK Ltd lessened its stake in Schlumberger Limited (NYSE:SLB) by 4.0% in the 3rd quarter, Holdings Channel.com reports. The firm owned 112,729 shares of the oil and gas company’s stock after selling 4,660 shares during the period. Gulf International Bank UK Ltd’s holdings in Schlumberger were worth $4,728,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. ORG Partners LLC raised its holdings in shares of 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 acquiring an additional 484 shares during the period. Bruce G. Allen Investments LLC raised its stake in Schlumberger by 204.2% during the second quarter. Bruce G. Allen Investments LLC now owns 584 shares of the oil and gas company’s stock worth $28,000 after purchasing an additional 392 shares during the period. Unique Wealth Strategies LLC acquired a new position in Schlumberger in the 2nd quarter valued at about $30,000. Manchester Capital Management LLC grew its stake in shares of Schlumberger by 297.9% in the 1st quarter. Manchester Capital Management LLC now owns 569 shares of the oil and gas company’s stock valued at $31,000 after buying an additional 426 shares during the period. Finally, Riverview Trust Co increased 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 buying an additional 308 shares during the last quarter. Hedge funds and other institutional investors own 81.99% of the company’s stock.

Schlumberger Trading Up 0.6 %

NYSE SLB opened at $40.55 on Wednesday. Schlumberger Limited has a 52 week low of $38.66 and a 52 week high of $57.47. The firm has a 50 day moving average of $42.25 and a two-hundred day moving average of $44.97. The stock has a market capitalization of $57.26 billion, a PE ratio of 13.04, a price-to-earnings-growth ratio of 1.40 and a beta of 1.52. The company has a quick ratio of 1.12, a current ratio of 1.48 and a debt-to-equity ratio of 0.52.

Schlumberger (NYSE:SLB) last posted its earnings results on Friday, October 18th. The oil and gas company reported $0.89 EPS for the quarter, beating the consensus estimate of $0.88 by $0.01. The firm had revenue of $9.16 billion for 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%. Schlumberger’s revenue for the quarter was up 10.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.78 earnings per share. As a group, research analysts expect that Schlumberger Limited will post 3.4 EPS for the current fiscal year.

Schlumberger Dividend Announcement

The firm also recently declared 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. This represents a $1.10 dividend on an annualized basis and a yield of 2.71%. The ex-dividend date of this dividend is Wednesday, December 4th. Schlumberger’s dividend payout ratio (DPR) is 35.37%.

Insider Buying and Selling at Schlumberger

In other news, EVP Abdellah Merad sold 60,000 shares of the business’s stock in a transaction that occurred on Thursday, October 24th. The shares were sold at an average price of $41.90, for a total transaction of $2,514,000.00. Following the completion of the sale, the executive vice president now owns 211,937 shares in the company, valued at approximately $8,880,160.30. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.26% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

SLB has been the subject of several analyst reports. BMO Capital Markets lowered their price objective on Schlumberger from $60.00 to $58.00 and set an “outperform” rating for the company in a research report on Thursday, October 10th. Royal Bank of Canada restated an “outperform” rating and issued a $69.00 price objective on shares of Schlumberger in a report on Thursday, October 3rd. Morgan Stanley lowered their target price on shares of Schlumberger from $65.00 to $60.00 and set an “overweight” rating for the company in a research note on Monday, September 16th. Piper Sandler reduced their price target on shares of Schlumberger from $71.00 to $66.00 and set an “overweight” rating on the stock in a research note on Monday, July 15th. Finally, UBS Group decreased their price objective on shares of Schlumberger from $63.00 to $57.00 and set a “buy” rating on the stock in a report on Wednesday, September 18th. Two analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $60.97.

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.