Schlumberger Limited $SLB Shares Acquired by Highland Capital Management LLC

Highland Capital Management LLC increased its holdings in shares of Schlumberger Limited (NYSE:SLB) by 0.8% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 174,808 shares of the oil and gas company’s stock after purchasing an additional 1,350 shares during the period. Highland Capital Management LLC’s holdings in Schlumberger were worth $5,909,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the business. Bay Harbor Wealth Management LLC boosted its stake in Schlumberger by 275.4% during the 2nd quarter. Bay Harbor Wealth Management LLC now owns 2,568 shares of the oil and gas company’s stock worth $87,000 after purchasing an additional 1,884 shares during the period. Hudson Valley Investment Advisors Inc. ADV boosted its stake in Schlumberger by 2.4% during the 2nd quarter. Hudson Valley Investment Advisors Inc. ADV now owns 96,449 shares of the oil and gas company’s stock worth $3,260,000 after purchasing an additional 2,249 shares during the period. Hennessy Advisors Inc. boosted its stake in Schlumberger by 2.1% during the 2nd quarter. Hennessy Advisors Inc. now owns 143,410 shares of the oil and gas company’s stock worth $4,847,000 after purchasing an additional 3,000 shares during the period. Ameritas Advisory Services LLC boosted its stake in Schlumberger by 22.5% during the 2nd quarter. Ameritas Advisory Services LLC now owns 7,367 shares of the oil and gas company’s stock worth $249,000 after purchasing an additional 1,355 shares during the period. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management boosted its stake in Schlumberger by 9.1% during the 2nd quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 16,285 shares of the oil and gas company’s stock worth $550,000 after purchasing an additional 1,360 shares during the period. Institutional investors and hedge funds own 81.99% of the company’s stock.

Schlumberger Stock Performance

Shares of SLB opened at $34.26 on Friday. The company has a 50-day simple moving average of $34.63 and a 200-day simple moving average of $35.15. The company has a quick ratio of 0.98, a current ratio of 1.31 and a debt-to-equity ratio of 0.51. The company has a market capitalization of $51.17 billion, a PE ratio of 11.73, a P/E/G ratio of 9.51 and a beta of 0.97. Schlumberger Limited has a 52-week low of $31.11 and a 52-week high of $46.15.

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

Schlumberger Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 9th. Stockholders of record on Wednesday, September 3rd will be issued a $0.285 dividend. This represents a $1.14 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date is Wednesday, September 3rd. Schlumberger’s dividend payout ratio (DPR) is currently 39.04%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Piper Sandler decreased their price target on shares of Schlumberger from $44.00 to $42.00 and set a “neutral” rating for the company in a research note on Friday, July 18th. JPMorgan Chase & Co. decreased their price target on shares of Schlumberger from $46.00 to $44.00 and set an “overweight” rating for the company in a research note on Monday, June 30th. Susquehanna cut their price objective on shares of Schlumberger from $44.00 to $42.00 and set a “positive” rating for the company in a research report on Monday, July 21st. UBS Group cut their price objective on shares of Schlumberger from $45.00 to $44.00 and set a “buy” rating for the company in a research report on Wednesday, August 20th. Finally, Melius Research started coverage on shares of Schlumberger in a research report on Wednesday, August 20th. They set a “buy” rating and a $82.00 price objective for the company. Two analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat, Schlumberger presently has an average rating of “Moderate Buy” and a consensus price target of $52.18.

Insider Activity

In other news, insider Dianne B. Ralston sold 39,727 shares of the stock in a transaction dated Friday, September 12th. The shares were sold at an average price of $36.08, for a total value of $1,433,350.16. Following the completion of the transaction, the insider owned 202,201 shares in the company, valued at $7,295,412.08. This trade represents a 16.42% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.22% of the stock is owned by corporate insiders.

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.