Citigroup Inc. decreased its position in Schlumberger Limited (NYSE:SLB – Free Report) by 35.0% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 811,370 shares of the oil and gas company’s stock after selling 436,889 shares during the quarter. Citigroup Inc. owned approximately 0.06% of Schlumberger worth $39,854,000 at the end of the most recent quarter.
Other institutional investors have also added to or reduced their stakes in the company. Kingswood Wealth Advisors LLC purchased a new stake in shares of Schlumberger in the second quarter worth $475,000. Holistic Financial Partners grew its stake in shares of Schlumberger by 4.7% in the second quarter. Holistic Financial Partners now owns 6,759 shares of the oil and gas company’s stock worth $332,000 after acquiring an additional 302 shares during the last quarter. Equitable Trust Co. grew its stake in shares of Schlumberger by 10.1% in the second quarter. Equitable Trust Co. now owns 8,208 shares of the oil and gas company’s stock worth $403,000 after acquiring an additional 756 shares during the last quarter. AGF Management Ltd. grew its stake in shares of Schlumberger by 3.5% in the second quarter. AGF Management Ltd. now owns 2,269,086 shares of the oil and gas company’s stock worth $111,458,000 after acquiring an additional 76,517 shares during the last quarter. Finally, TD Asset Management Inc grew its stake in shares of Schlumberger by 3.3% in the second quarter. TD Asset Management Inc now owns 2,123,313 shares of the oil and gas company’s stock worth $104,297,000 after acquiring an additional 67,803 shares during the last quarter. Institutional investors own 79.43% of the company’s stock.
Analyst Ratings Changes
SLB has been the topic of several recent analyst reports. Piper Sandler increased their price objective on Schlumberger from $64.00 to $77.00 and gave the company an “overweight” rating in a research report on Monday, September 11th. Benchmark reaffirmed a “buy” rating and set a $65.00 price objective on shares of Schlumberger in a research report on Monday, July 24th. UBS Group increased their price objective on Schlumberger from $72.00 to $73.00 and gave the company a “buy” rating in a research report on Thursday, August 17th. HSBC dropped their price objective on Schlumberger from $75.00 to $71.00 in a research report on Thursday, July 27th. Finally, Societe Generale began coverage on Schlumberger in a research report on Monday, October 9th. They set a “buy” rating and a $81.00 price objective on the stock. Two analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $70.36.
Get Our Latest Stock Report on SLB
Schlumberger Stock Up 1.4 %
NYSE SLB opened at $52.85 on Friday. The stock’s 50-day moving average price is $57.62 and its 200-day moving average price is $54.00. The company has a quick ratio of 1.02, a current ratio of 1.36 and a debt-to-equity ratio of 0.57. Schlumberger Limited has a 52 week low of $42.73 and a 52 week high of $62.78. The company has a market capitalization of $75.23 billion, a P/E ratio of 18.29, a price-to-earnings-growth ratio of 0.71 and a beta of 1.77.
Schlumberger (NYSE:SLB – Get Free Report) last posted its quarterly earnings data on Friday, October 20th. The oil and gas company reported $0.78 EPS for the quarter, topping the consensus estimate of $0.77 by $0.01. The firm had revenue of $8.31 billion for the quarter, compared to the consensus estimate of $8.32 billion. Schlumberger had a return on equity of 21.80% and a net margin of 12.98%. The business’s revenue for the quarter was up 11.1% compared to the same quarter last year. During the same quarter last year, the company earned $0.63 earnings per share. On average, equities research analysts predict that Schlumberger Limited will post 2.97 earnings per share for the current year.
Schlumberger Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 11th. Investors of record on Wednesday, December 6th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.89%. The ex-dividend date of this dividend is Tuesday, December 5th. Schlumberger’s dividend payout ratio (DPR) is presently 34.60%.
Insider Activity at Schlumberger
In related news, CFO Stephane Biguet sold 6,250 shares of Schlumberger stock in a transaction that occurred on Monday, August 28th. The stock was sold at an average price of $56.85, for a total transaction of $355,312.50. Following the sale, the chief financial officer now owns 188,515 shares of the company’s stock, valued at approximately $10,717,077.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Schlumberger news, CTO Demosthenis Pafitis sold 60,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 30th. The stock was sold at an average price of $58.83, for a total transaction of $3,529,800.00. Following the completion of the transaction, the chief technology officer now owns 36,858 shares in the company, valued at approximately $2,168,356.14. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Stephane Biguet sold 6,250 shares of the firm’s stock in a transaction that occurred on Monday, August 28th. The shares were sold at an average price of $56.85, for a total value of $355,312.50. Following the transaction, the chief financial officer now owns 188,515 shares of the company’s stock, valued at approximately $10,717,077.75. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 109,250 shares of company stock valued at $6,441,505. 0.23% of the stock is owned by company insiders.
Schlumberger Profile
(Free Report)
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, integration of adjacent energy systems; reservoir interpretation and data processing services for exploration data; and well construction and production improvement services and products.
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This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider Schlumberger, you’ll want to hear this.
MarketBeat keeps track of Wall Street’s top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on… and Schlumberger wasn’t on the list.
While Schlumberger currently has a “Moderate Buy” rating among analysts, top-rated analysts believe these five stocks are better buys.
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Source: marketbeat.com
Citigroup Inc. decreased its position in Schlumberger Limited (NYSE:SLB – Free Report) by 35.0% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 811,370 shares of the oil and gas company’s stock after selling 436,889 shares during the quarter. Citigroup Inc. owned approximately 0.06% of Schlumberger worth $39,854,000 at the end of the most recent quarter.
Other institutional investors have also added to or reduced their stakes in the company. Kingswood Wealth Advisors LLC purchased a new stake in shares of Schlumberger in the second quarter worth $475,000. Holistic Financial Partners grew its stake in shares of Schlumberger by 4.7% in the second quarter. Holistic Financial Partners now owns 6,759 shares of the oil and gas company’s stock worth $332,000 after acquiring an additional 302 shares during the last quarter. Equitable Trust Co. grew its stake in shares of Schlumberger by 10.1% in the second quarter. Equitable Trust Co. now owns 8,208 shares of the oil and gas company’s stock worth $403,000 after acquiring an additional 756 shares during the last quarter. AGF Management Ltd. grew its stake in shares of Schlumberger by 3.5% in the second quarter. AGF Management Ltd. now owns 2,269,086 shares of the oil and gas company’s stock worth $111,458,000 after acquiring an additional 76,517 shares during the last quarter. Finally, TD Asset Management Inc grew its stake in shares of Schlumberger by 3.3% in the second quarter. TD Asset Management Inc now owns 2,123,313 shares of the oil and gas company’s stock worth $104,297,000 after acquiring an additional 67,803 shares during the last quarter. Institutional investors own 79.43% of the company’s stock.
Analyst Ratings Changes
SLB has been the topic of several recent analyst reports. Piper Sandler increased their price objective on Schlumberger from $64.00 to $77.00 and gave the company an “overweight” rating in a research report on Monday, September 11th. Benchmark reaffirmed a “buy” rating and set a $65.00 price objective on shares of Schlumberger in a research report on Monday, July 24th. UBS Group increased their price objective on Schlumberger from $72.00 to $73.00 and gave the company a “buy” rating in a research report on Thursday, August 17th. HSBC dropped their price objective on Schlumberger from $75.00 to $71.00 in a research report on Thursday, July 27th. Finally, Societe Generale began coverage on Schlumberger in a research report on Monday, October 9th. They set a “buy” rating and a $81.00 price objective on the stock. Two analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $70.36.
Get Our Latest Stock Report on SLB
Schlumberger Stock Up 1.4 %
NYSE SLB opened at $52.85 on Friday. The stock’s 50-day moving average price is $57.62 and its 200-day moving average price is $54.00. The company has a quick ratio of 1.02, a current ratio of 1.36 and a debt-to-equity ratio of 0.57. Schlumberger Limited has a 52 week low of $42.73 and a 52 week high of $62.78. The company has a market capitalization of $75.23 billion, a P/E ratio of 18.29, a price-to-earnings-growth ratio of 0.71 and a beta of 1.77.
Schlumberger (NYSE:SLB – Get Free Report) last posted its quarterly earnings data on Friday, October 20th. The oil and gas company reported $0.78 EPS for the quarter, topping the consensus estimate of $0.77 by $0.01. The firm had revenue of $8.31 billion for the quarter, compared to the consensus estimate of $8.32 billion. Schlumberger had a return on equity of 21.80% and a net margin of 12.98%. The business’s revenue for the quarter was up 11.1% compared to the same quarter last year. During the same quarter last year, the company earned $0.63 earnings per share. On average, equities research analysts predict that Schlumberger Limited will post 2.97 earnings per share for the current year.
Schlumberger Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 11th. Investors of record on Wednesday, December 6th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.89%. The ex-dividend date of this dividend is Tuesday, December 5th. Schlumberger’s dividend payout ratio (DPR) is presently 34.60%.
Insider Activity at Schlumberger
In related news, CFO Stephane Biguet sold 6,250 shares of Schlumberger stock in a transaction that occurred on Monday, August 28th. The stock was sold at an average price of $56.85, for a total transaction of $355,312.50. Following the sale, the chief financial officer now owns 188,515 shares of the company’s stock, valued at approximately $10,717,077.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Schlumberger news, CTO Demosthenis Pafitis sold 60,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 30th. The stock was sold at an average price of $58.83, for a total transaction of $3,529,800.00. Following the completion of the transaction, the chief technology officer now owns 36,858 shares in the company, valued at approximately $2,168,356.14. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Stephane Biguet sold 6,250 shares of the firm’s stock in a transaction that occurred on Monday, August 28th. The shares were sold at an average price of $56.85, for a total value of $355,312.50. Following the transaction, the chief financial officer now owns 188,515 shares of the company’s stock, valued at approximately $10,717,077.75. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 109,250 shares of company stock valued at $6,441,505. 0.23% of the stock is owned by company insiders.
Schlumberger Profile
(Free Report)
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, integration of adjacent energy systems; reservoir interpretation and data processing services for exploration data; and well construction and production improvement services and products.
Read More
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider Schlumberger, you’ll want to hear this.
MarketBeat keeps track of Wall Street’s top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on… and Schlumberger wasn’t on the list.
While Schlumberger currently has a “Moderate Buy” rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Just getting into the stock market? These 10 simple stocks can help beginning investors build long-term wealth without knowing options, technicals, or other advanced strategies.
Get This Free Report
Source: marketbeat.com
