Aberdeen Group plc Raises Stock Holdings in Schlumberger Limited $SLB

Aberdeen Group plc boosted its position in shares of Schlumberger Limited (NYSE:SLB) by 7.2% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,687,909 shares of the oil and gas company’s stock after purchasing an additional 113,664 shares during the quarter. Aberdeen Group plc owned about 0.12% of Schlumberger worth $57,583,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of SLB. Brighton Jones LLC increased its holdings in Schlumberger by 21.4% during the 4th quarter. Brighton Jones LLC now owns 6,611 shares of the oil and gas company’s stock worth $253,000 after purchasing an additional 1,166 shares during the period. Bison Wealth LLC purchased a new position in Schlumberger during the 4th quarter worth $238,000. Farther Finance Advisors LLC increased its holdings in Schlumberger by 9.2% during the 1st quarter. Farther Finance Advisors LLC now owns 19,066 shares of the oil and gas company’s stock worth $805,000 after purchasing an additional 1,607 shares during the period. GAMMA Investing LLC increased its holdings in Schlumberger by 45.5% during the 1st quarter. GAMMA Investing LLC now owns 21,671 shares of the oil and gas company’s stock worth $906,000 after purchasing an additional 6,778 shares during the period. Finally, Assenagon Asset Management S.A. increased its holdings in Schlumberger by 136.0% during the 1st quarter. Assenagon Asset Management S.A. now owns 100,328 shares of the oil and gas company’s stock worth $4,194,000 after purchasing an additional 57,817 shares during the period. 81.99% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Schlumberger news, insider Dianne B. Ralston sold 39,727 shares of Schlumberger stock in a transaction dated Friday, September 12th. The stock was sold at an average price of $36.08, for a total transaction of $1,433,350.16. Following the completion of the sale, the insider owned 202,201 shares of the company’s stock, valued at approximately $7,295,412.08. The trade was a 16.42% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.22% of the company’s stock.

Schlumberger Stock Down 4.2%

Shares of SLB stock opened at $31.75 on Friday. Schlumberger Limited has a 1-year low of $31.11 and a 1-year high of $44.97. The stock’s fifty day moving average price is $34.53 and its 200 day moving average price is $34.86. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.31 and a quick ratio of 0.98. The company has a market cap of $47.42 billion, a price-to-earnings ratio of 10.87, a price-to-earnings-growth ratio of 8.82 and a beta of 0.97.

Schlumberger (NYSE:SLB) last announced its earnings results on Friday, July 18th. The oil and gas company reported $0.74 earnings per share for the quarter, topping the consensus estimate of $0.73 by $0.01. Schlumberger had a return on equity of 20.99% and a net margin of 11.53%.The firm had revenue of $8.55 billion for the quarter, compared to the consensus estimate of $8.51 billion. During the same period in the previous year, the business earned $0.85 EPS. The firm’s revenue for the quarter was down 6.5% on a year-over-year basis. On average, research analysts expect that Schlumberger Limited will post 3.38 earnings per share for the current fiscal year.

Schlumberger Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 9th. Investors of record on Wednesday, September 3rd were paid a dividend of $0.285 per share. This represents a $1.14 annualized dividend and a yield of 3.6%. The ex-dividend date was Wednesday, September 3rd. Schlumberger’s payout ratio is 39.04%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. Melius assumed coverage on Schlumberger in a report on Wednesday, August 20th. They issued a “buy” rating and a $82.00 price target on the stock. Wells Fargo & Company downgraded Schlumberger from a “strong-buy” rating to a “hold” rating in a report on Sunday, July 20th. Atb Cap Markets upgraded Schlumberger from a “hold” rating to a “strong-buy” rating in a report on Tuesday, July 1st. UBS Group cut their price target on Schlumberger from $45.00 to $44.00 and set a “buy” rating on the stock in a report on Wednesday, August 20th. Finally, Piper Sandler cut their price target on Schlumberger from $44.00 to $42.00 and set a “neutral” rating on the stock in a report on Friday, July 18th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and six have given a Hold rating to the company. According to MarketBeat.com, Schlumberger currently has an average rating of “Moderate Buy” and an average target price of $52.18.

Schlumberger 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.