Schlumberger Limited $SLB Shares Sold by Carmignac Gestion

Carmignac Gestion reduced its stake in Schlumberger Limited (NYSE:SLB) by 36.9% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 4,605,000 shares of the oil and gas company’s stock after selling 2,691,500 shares during the quarter. Schlumberger accounts for 3.1% of Carmignac Gestion’s investment portfolio, making the stock its 11th largest position. Carmignac Gestion’s holdings in Schlumberger were worth $192,489,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in the stock. Vident Advisory LLC lifted its holdings in Schlumberger by 1.0% during the 4th quarter. Vident Advisory LLC now owns 27,838 shares of the oil and gas company’s stock worth $1,067,000 after buying an additional 273 shares in the last quarter. Glen Eagle Advisors LLC increased its position in shares of Schlumberger by 3.7% in the 4th quarter. Glen Eagle Advisors LLC now owns 7,843 shares of the oil and gas company’s stock valued at $301,000 after purchasing an additional 282 shares during the last quarter. Heritage Wealth Management Inc. Texas increased its position in shares of Schlumberger by 2.2% in the 1st quarter. Heritage Wealth Management Inc. Texas now owns 14,736 shares of the oil and gas company’s stock valued at $616,000 after purchasing an additional 318 shares during the last quarter. Wahed Invest LLC increased its position in shares of Schlumberger by 0.9% in the 4th quarter. Wahed Invest LLC now owns 35,022 shares of the oil and gas company’s stock valued at $1,343,000 after purchasing an additional 319 shares during the last quarter. Finally, Horizon Investments LLC increased its position in shares of Schlumberger by 1.5% in the 1st quarter. Horizon Investments LLC now owns 22,633 shares of the oil and gas company’s stock valued at $946,000 after purchasing an additional 330 shares during the last quarter. 81.99% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

SLB has been the topic of a number of recent analyst reports. UBS Group increased their price objective on shares of Schlumberger from $44.00 to $45.00 and gave the company a “buy” rating in a research report on Wednesday, July 2nd. Atb Cap Markets raised shares of Schlumberger from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, July 1st. JPMorgan Chase & Co. dropped their target price on shares of Schlumberger from $46.00 to $44.00 and set an “overweight” rating on the stock in a research report on Monday, June 30th. Piper Sandler dropped their target price on shares of Schlumberger from $44.00 to $42.00 and set a “neutral” rating on the stock in a research report on Friday, July 18th. Finally, Jefferies Financial Group dropped their target price on shares of Schlumberger from $54.00 to $53.00 and set a “buy” rating on the stock in a research report on Thursday, June 26th. Four equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $49.28.

Schlumberger Stock Up 0.9%

Schlumberger stock opened at $33.29 on Tuesday. The stock has a market cap of $44.98 billion, a price-to-earnings ratio of 11.40, a PEG ratio of 9.15 and a beta of 1.03. The company has a current ratio of 1.31, a quick ratio of 0.98 and a debt-to-equity ratio of 0.51. The company’s 50-day moving average price is $34.65 and its two-hundred day moving average price is $36.49. Schlumberger Limited has a 52 week low of $31.11 and a 52 week high of $46.16.

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

Schlumberger Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 9th. Stockholders of record on Wednesday, September 3rd will be paid a $0.285 dividend. The ex-dividend date of this dividend is Wednesday, September 3rd. This represents a $1.14 annualized dividend and a dividend yield of 3.4%. Schlumberger’s payout ratio is currently 39.04%.

Insider Activity

In other news, Director La Chevardiere Patrick De sold 5,000 shares of Schlumberger stock in a transaction that occurred on Thursday, May 22nd. The shares were sold at an average price of $33.58, for a total value of $167,900.00. Following the transaction, the director owned 23,525 shares of the company’s stock, valued at $789,969.50. The trade was a 17.53% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 0.26% 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.