Schlumberger Limited (NYSE:SLB) Shares Acquired by Stanley Laman Group Ltd.

Stanley Laman Group Ltd. increased its position in shares of Schlumberger Limited (NYSE:SLB) by 3.2% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 74,887 shares of the oil and gas company’s stock after purchasing an additional 2,342 shares during the quarter. Stanley Laman Group Ltd.’s holdings in Schlumberger were worth $3,142,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Capital World Investors raised its position in Schlumberger by 72.3% in the first quarter. Capital World Investors now owns 88,950,956 shares of the oil and gas company’s stock valued at $4,875,402,000 after purchasing an additional 37,333,485 shares during the period. Price T Rowe Associates Inc. MD increased its position in shares of Schlumberger by 14.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 85,986,039 shares of the oil and gas company’s stock worth $4,712,897,000 after purchasing an additional 10,606,191 shares during the last quarter. Boston Partners raised its holdings in Schlumberger by 35.8% in the 1st quarter. Boston Partners now owns 11,640,827 shares of the oil and gas company’s stock valued at $635,883,000 after buying an additional 3,069,395 shares during the period. Ceredex Value Advisors LLC acquired a new position in Schlumberger in the second quarter valued at about $92,944,000. Finally, 1832 Asset Management L.P. purchased a new position in Schlumberger during the second quarter worth about $91,364,000. 81.99% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have recently issued reports on SLB. 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. Benchmark reissued a “buy” rating and issued a $68.00 target price on shares of Schlumberger in a research report on Monday, July 22nd. Barclays lowered their price target on Schlumberger from $67.00 to $63.00 and set an “overweight” rating for the company in a research report on Wednesday, October 16th. Dbs Bank initiated coverage on Schlumberger in a research note on Wednesday, September 18th. They set a “buy” rating and a $64.50 target price on the stock. Finally, Morgan Stanley dropped their target price on Schlumberger from $65.00 to $60.00 and set an “overweight” rating for the company in a research report on Monday, September 16th. Two equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $61.58.

Schlumberger Trading Down 1.2 %

NYSE SLB opened at $41.94 on Wednesday. Schlumberger Limited has a 52 week low of $38.66 and a 52 week high of $59.05. The firm has a 50 day moving average of $43.03 and a two-hundred day moving average of $45.78. The company has a quick ratio of 1.13, a current ratio of 1.49 and a debt-to-equity ratio of 0.55. The stock has a market capitalization of $59.54 billion, a PE ratio of 13.48, a price-to-earnings-growth ratio of 1.27 and a beta of 1.51.

Schlumberger (NYSE:SLB) last issued its earnings results on Friday, October 18th. The oil and gas company reported $0.89 EPS for the quarter, topping analysts’ consensus estimates of $0.88 by $0.01. Schlumberger had a net margin of 12.56% and a return on equity of 21.92%. The firm had revenue of $9.16 billion during the quarter, compared to the consensus estimate of $9.27 billion. During the same quarter in the previous year, the firm posted $0.78 earnings per share. The company’s revenue was up 10.2% compared to the same quarter last year. As a group, research analysts expect that Schlumberger Limited will post 3.44 EPS for the current fiscal year.

Schlumberger Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 9th. Stockholders of record on Wednesday, December 4th will be issued a $0.275 dividend. The ex-dividend date of this dividend is Wednesday, December 4th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 2.62%. Schlumberger’s payout ratio is currently 35.37%.

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.