Schlumberger Limited (NYSE:SLB) Shares Purchased by Westwood Holdings Group Inc.

Westwood Holdings Group Inc. boosted its position in Schlumberger Limited (NYSE:SLB) by 6.5% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 245,285 shares of the oil and gas company’s stock after purchasing an additional 14,909 shares during the period. Westwood Holdings Group Inc.’s holdings in Schlumberger were worth $11,573,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. RiverGlades Family Offices LLC lifted its holdings in shares of Schlumberger by 10.0% during the 2nd quarter. RiverGlades Family Offices LLC now owns 11,000 shares of the oil and gas company’s stock worth $519,000 after acquiring an additional 1,000 shares during the period. Summit Trail Advisors LLC increased its position in shares of Schlumberger by 42.7% during the second quarter. Summit Trail Advisors LLC now owns 16,381 shares of the oil and gas company’s stock worth $777,000 after acquiring an additional 4,898 shares during the last quarter. Sei Investments Co. boosted its stake in shares of Schlumberger by 1.8% during the 2nd quarter. Sei Investments Co. now owns 392,899 shares of the oil and gas company’s stock valued at $18,537,000 after buying an additional 6,998 shares during the last quarter. Pacer Advisors Inc. increased its position in shares of Schlumberger by 4.7% in the 2nd quarter. Pacer Advisors Inc. now owns 100,979 shares of the oil and gas company’s stock worth $4,764,000 after purchasing an additional 4,575 shares during the last quarter. Finally, Drexel Morgan & Co. lifted its holdings in Schlumberger by 0.7% during the 2nd quarter. Drexel Morgan & Co. now owns 342,412 shares of the oil and gas company’s stock worth $16,155,000 after buying an additional 2,260 shares during the last quarter. 81.99% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. Barclays dropped their target price on Schlumberger from $70.00 to $67.00 and set an “overweight” rating on the stock in a research report on Tuesday, July 23rd. Susquehanna decreased their target price on shares of Schlumberger from $77.00 to $70.00 and set a “positive” rating for the company in a research report on Thursday, July 11th. Bank of America cut their price target on Schlumberger from $62.00 to $58.00 and set a “buy” rating on the stock in a report on Monday, July 15th. Piper Sandler decreased their price objective on Schlumberger from $71.00 to $66.00 and set an “overweight” rating for the company in a report on Monday, July 15th. Finally, Citigroup cut their target price on Schlumberger from $65.00 to $62.00 and set a “buy” rating on the stock in a research note on Friday, June 28th. Two analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $66.29.

Insiders Place Their Bets

In other news, EVP Mogharbel Khaled Al sold 120,668 shares of the firm’s stock in a transaction on Monday, July 22nd. The stock was sold at an average price of $50.19, for a total value of $6,056,326.92. Following the completion of the sale, the executive vice president now owns 247,699 shares of the company’s stock, valued at $12,432,012.81. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other Schlumberger news, CFO Stephane Biguet sold 50,048 shares of the company’s stock in a transaction that occurred on Monday, July 22nd. The shares were sold at an average price of $49.94, for a total value of $2,499,397.12. Following the transaction, the chief financial officer now owns 203,076 shares in the company, valued at approximately $10,141,615.44. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Mogharbel Khaled Al sold 120,668 shares of Schlumberger stock in a transaction on Monday, July 22nd. The shares were sold at an average price of $50.19, for a total transaction of $6,056,326.92. Following the sale, the executive vice president now directly owns 247,699 shares of the company’s stock, valued at approximately $12,432,012.81. The disclosure for this sale can be found here. In the last three months, insiders have sold 180,716 shares of company stock worth $9,048,624. Corporate insiders own 0.26% of the company’s stock.

Schlumberger Stock Down 0.8 %

Shares of Schlumberger stock opened at $42.41 on Friday. Schlumberger Limited has a 12-month low of $38.66 and a 12-month high of $61.41. The firm has a market capitalization of $60.22 billion, a PE ratio of 14.09, a price-to-earnings-growth ratio of 0.86 and a beta of 1.51. 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’s fifty day moving average is $44.48 and its 200-day moving average is $47.38.

Schlumberger (NYSE:SLB) last posted its quarterly earnings data on Friday, July 19th. The oil and gas company reported $0.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.83 by $0.02. Schlumberger had a return on equity of 21.92% and a net margin of 12.56%. The firm had revenue of $9.14 billion for the quarter, compared to the consensus estimate of $9.08 billion. During the same quarter in the previous year, the company earned $0.72 EPS. The business’s revenue for the quarter was up 12.8% compared to the same quarter last year. Equities analysts anticipate that Schlumberger Limited will post 3.49 earnings per share for the current year.

Schlumberger Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 10th. Investors of record on Wednesday, September 4th will be paid a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a yield of 2.59%. The ex-dividend date of this dividend is Wednesday, September 4th. Schlumberger’s dividend payout ratio is 36.54%.

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.