Alaethes Wealth LLC Has $1.16 Million Stock Holdings in Schlumberger Limited (NYSE:SLB)

Alaethes Wealth LLC raised its position in Schlumberger Limited (NYSE:SLB) by 3.2% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 24,340 shares of the oil and gas company’s stock after acquiring an additional 750 shares during the period. Alaethes Wealth LLC’s holdings in Schlumberger were worth $1,155,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Capital World Investors increased its holdings in Schlumberger by 72.3% in the 1st 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 buying an additional 37,333,485 shares during the period. Price T Rowe Associates Inc. MD boosted 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 valued at $4,712,897,000 after acquiring an additional 10,606,191 shares in the last quarter. Winslow Capital Management LLC increased its stake in Schlumberger by 123,063.5% in the fourth quarter. Winslow Capital Management LLC now owns 4,347,671 shares of the oil and gas company’s stock valued at $226,253,000 after acquiring an additional 4,344,141 shares during the period. Boston Partners raised its position in Schlumberger by 35.8% in the first quarter. Boston Partners now owns 11,640,827 shares of the oil and gas company’s stock worth $635,883,000 after purchasing an additional 3,069,395 shares in the last quarter. Finally, Ceredex Value Advisors LLC acquired a new position in Schlumberger in the second quarter worth about $92,944,000. Institutional investors own 81.99% of the company’s stock.

Schlumberger Trading Down 0.8 %

SLB stock opened at $42.41 on Friday. The company has a quick ratio of 1.13, a current ratio of 1.49 and a debt-to-equity ratio of 0.55. Schlumberger Limited has a twelve month low of $38.66 and a twelve month high of $61.41. The company has a market cap of $60.22 billion, a P/E ratio of 14.09, a PEG ratio of 0.86 and a beta of 1.51. The business has a fifty day moving average of $44.48 and a 200-day moving average of $47.40.

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

Schlumberger Announces Dividend

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

Insiders Place Their Bets

In other news, Director Vijay Kasibhatla sold 10,000 shares of the stock in a transaction on Monday, July 22nd. The stock was sold at an average price of $49.29, for a total value of $492,900.00. Following the transaction, the director now owns 62,354 shares of the company’s stock, valued at approximately $3,073,428.66. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, EVP Mogharbel Khaled Al sold 120,668 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the executive vice president now owns 247,699 shares in the company, valued at $12,432,012.81. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Vijay Kasibhatla sold 10,000 shares of the stock in a transaction on Monday, July 22nd. The stock was sold at an average price of $49.29, for a total transaction of $492,900.00. Following the completion of the sale, the director now owns 62,354 shares in the company, valued at $3,073,428.66. The disclosure for this sale can be found here. In the last 90 days, insiders sold 180,716 shares of company stock valued at $9,048,624. Company insiders own 0.26% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. UBS Group lowered their price objective on Schlumberger from $63.00 to $57.00 and set a “buy” rating on the stock in a research note on Wednesday. Bank of America lowered their price target on Schlumberger from $62.00 to $58.00 and set a “buy” rating on the stock in a research report on Monday, July 15th. Citigroup cut their price objective on Schlumberger from $65.00 to $62.00 and set a “buy” rating for the company in a report on Friday, June 28th. Piper Sandler lowered their target price on shares of Schlumberger from $71.00 to $66.00 and set an “overweight” rating on the stock in a report on Monday, July 15th. Finally, Barclays dropped their target price on shares of Schlumberger from $70.00 to $67.00 and set an “overweight” rating for the company in a research report on Tuesday, July 23rd. Two equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $66.29.

About Schlumberger

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.