Teachers Retirement System of The State of Kentucky Has $28.55 Million Stock Holdings in Schlumberger Limited (NYSE:SLB)

Teachers Retirement System of The State of Kentucky decreased its stake in shares of Schlumberger Limited (NYSE:SLB) by 11.0% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 605,177 shares of the oil and gas company’s stock after selling 74,468 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in Schlumberger were worth $28,552,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the stock. Checchi Capital Advisers LLC lifted its holdings in shares of Schlumberger by 1.9% in the first quarter. Checchi Capital Advisers LLC now owns 10,808 shares of the oil and gas company’s stock worth $592,000 after acquiring an additional 204 shares during the last quarter. Financial Advocates Investment Management grew its holdings in Schlumberger by 3.4% during the 2nd quarter. Financial Advocates Investment Management now owns 6,558 shares of the oil and gas company’s stock worth $309,000 after acquiring an additional 218 shares during the last quarter. Chilton Capital Management LLC increased its position in Schlumberger by 0.8% in the 2nd quarter. Chilton Capital Management LLC now owns 26,202 shares of the oil and gas company’s stock valued at $1,236,000 after acquiring an additional 219 shares during the period. First PREMIER Bank raised its stake in shares of Schlumberger by 8.7% during the second quarter. First PREMIER Bank now owns 2,842 shares of the oil and gas company’s stock valued at $134,000 after acquiring an additional 227 shares during the last quarter. Finally, Team Hewins LLC raised its stake in shares of Schlumberger by 3.0% during the first quarter. Team Hewins LLC now owns 7,924 shares of the oil and gas company’s stock valued at $436,000 after acquiring an additional 229 shares during the last quarter. Institutional investors and hedge funds own 81.99% of the company’s stock.

Wall Street Analysts Forecast Growth

SLB has been the topic of several recent research reports. Benchmark reaffirmed a “buy” rating and set a $68.00 target price on shares of Schlumberger in a report on Monday, July 22nd. TD Cowen raised their price target on shares of Schlumberger from $62.00 to $64.00 and gave the stock a “buy” rating in a report on Monday, July 22nd. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $69.00 price objective on shares of Schlumberger in a research note on Monday, July 22nd. Piper Sandler lowered their target price on shares of Schlumberger from $71.00 to $66.00 and set an “overweight” rating for the company in a research note on Monday, July 15th. Finally, Bank of America decreased their price target on Schlumberger from $62.00 to $58.00 and set a “buy” rating for the company in a report on Monday, July 15th. Two analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $66.08.

Insiders Place Their Bets

In other news, Director Vijay Kasibhatla sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, July 22nd. The shares were 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 approximately $3,073,428.66. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, CFO Stephane Biguet sold 50,048 shares of the business’s stock in a transaction dated Monday, July 22nd. The stock was sold at an average price of $49.94, for a total value of $2,499,397.12. Following the sale, the chief financial officer now directly owns 203,076 shares in the company, valued at approximately $10,141,615.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Vijay Kasibhatla sold 10,000 shares of Schlumberger stock in a transaction dated 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 transaction, the director now owns 62,354 shares of the company’s stock, valued at approximately $3,073,428.66. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 180,716 shares of company stock valued at $9,048,624. Company insiders own 0.26% of the company’s stock.

Schlumberger Stock Performance

NYSE SLB opened at $41.95 on Tuesday. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.49 and a quick ratio of 1.13. The company has a fifty day moving average price of $43.68 and a 200-day moving average price of $46.96. Schlumberger Limited has a 1 year low of $38.66 and a 1 year high of $61.20. The firm has a market cap of $59.96 billion, a price-to-earnings ratio of 13.94, a PEG ratio of 0.92 and a beta of 1.51.

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

Schlumberger Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 10th. Investors of record on Wednesday, September 4th will be issued a dividend of $0.275 per share. The ex-dividend date is Wednesday, September 4th. This represents a $1.10 dividend on an annualized basis and a yield of 2.62%. Schlumberger’s dividend payout ratio (DPR) is presently 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.