Prospector Partners LLC Increases Stake in Schlumberger Limited (NYSE:SLB)

Prospector Partners LLC increased its stake in shares of Schlumberger Limited (NYSE:SLB) by 1.0% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 222,260 shares of the oil and gas company’s stock after buying an additional 2,230 shares during the quarter. Prospector Partners LLC’s holdings in Schlumberger were worth $10,486,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in SLB. Capital World Investors raised its stake in shares of 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 worth $4,875,402,000 after purchasing an additional 37,333,485 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in 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 buying an additional 10,606,191 shares during the last quarter. Winslow Capital Management LLC lifted its stake in Schlumberger by 123,063.5% during the 4th 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 boosted its holdings in shares of 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 acquiring an additional 3,069,395 shares during the last quarter. Finally, Ceredex Value Advisors LLC purchased a new position in shares of Schlumberger during the second quarter worth $92,944,000. 81.99% of the stock is owned by institutional investors and hedge funds.

Schlumberger Price Performance

SLB stock opened at $42.41 on Friday. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.13 and a current ratio of 1.49. The stock’s 50 day moving average price is $44.48 and its 200 day moving average price is $47.38. The firm 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. Schlumberger Limited has a 1 year low of $38.66 and a 1 year high of $61.41.

Schlumberger (NYSE:SLB) last posted its quarterly earnings data on Friday, July 19th. The oil and gas company reported $0.85 earnings per share for the quarter, beating analysts’ consensus estimates of $0.83 by $0.02. The business had revenue of $9.14 billion during the quarter, compared to analyst estimates of $9.08 billion. Schlumberger had a net margin of 12.56% and a return on equity of 21.92%. The company’s revenue was up 12.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.72 earnings per share. On average, sell-side analysts expect that Schlumberger Limited will post 3.49 earnings per share for the current fiscal year.

Schlumberger Announces Dividend

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

Analyst Ratings Changes

Several equities research analysts have commented on the stock. StockNews.com lowered shares of Schlumberger from a “buy” rating to a “hold” rating in a report on Thursday, June 6th. Susquehanna dropped their target price on Schlumberger from $77.00 to $70.00 and set a “positive” rating on the stock in a report on Thursday, July 11th. Piper Sandler decreased their price target on Schlumberger from $71.00 to $66.00 and set an “overweight” rating for the company in a report on Monday, July 15th. Benchmark reaffirmed a “buy” rating and set a $68.00 price objective on shares of Schlumberger in a research note on Monday, July 22nd. Finally, Citigroup dropped their price target on shares of Schlumberger from $65.00 to $62.00 and set a “buy” rating on the stock in a research report on Friday, June 28th. Two equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Schlumberger presently has a consensus rating of “Moderate Buy” and an average price target of $66.29.

Insider Buying and Selling at Schlumberger

In related news, EVP Mogharbel Khaled Al sold 120,668 shares of the 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 transaction, the executive vice president now directly owns 247,699 shares of the company’s stock, valued at approximately $12,432,012.81. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, EVP Mogharbel Khaled Al sold 120,668 shares of the stock in a transaction on Monday, July 22nd. The shares were 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Stephane Biguet sold 50,048 shares of the stock in a transaction 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 completion of the sale, the chief financial officer now owns 203,076 shares of the company’s stock, valued at $10,141,615.44. The disclosure for this sale can be found here. Insiders have sold a total of 180,716 shares of company stock worth $9,048,624 in the last quarter. 0.26% of the stock is owned by insiders.

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.