Schlumberger Limited (NYSE:SLB) Holdings Boosted by Primecap Management Co. CA

Primecap Management Co. CA boosted its holdings in Schlumberger Limited (NYSE:SLB) by 0.8% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 992,200 shares of the oil and gas company’s stock after acquiring an additional 8,200 shares during the period. Primecap Management Co. CA owned about 0.07% of Schlumberger worth $46,812,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the business. BCM Advisors LLC lifted its holdings in Schlumberger by 1.1% in the first quarter. BCM Advisors LLC now owns 18,904 shares of the oil and gas company’s stock worth $1,036,000 after acquiring an additional 204 shares during the last quarter. Checchi Capital Advisers LLC raised its holdings in shares of Schlumberger by 1.9% during the first quarter. Checchi Capital Advisers LLC now owns 10,808 shares of the oil and gas company’s stock valued at $592,000 after buying an additional 204 shares during the last quarter. Financial Advocates Investment Management raised its holdings in shares of Schlumberger by 3.4% during the second quarter. Financial Advocates Investment Management now owns 6,558 shares of the oil and gas company’s stock valued at $309,000 after buying an additional 218 shares during the last quarter. Hilltop Holdings Inc. raised its holdings in shares of Schlumberger by 2.1% during the fourth quarter. Hilltop Holdings Inc. now owns 10,761 shares of the oil and gas company’s stock valued at $560,000 after buying an additional 219 shares during the last quarter. Finally, Chilton Capital Management LLC raised its holdings in shares of Schlumberger by 0.8% during the second quarter. Chilton Capital Management LLC now owns 26,202 shares of the oil and gas company’s stock valued at $1,236,000 after buying an additional 219 shares during the last quarter. Institutional investors own 81.99% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. TD Cowen lifted their price target on Schlumberger from $62.00 to $64.00 and gave the company a “buy” rating in a report on Monday, July 22nd. Barclays cut their price target on Schlumberger from $70.00 to $67.00 and set an “overweight” rating on the stock in a report on Tuesday, July 23rd. StockNews.com cut Schlumberger from a “buy” rating to a “hold” rating in a report on Thursday, June 6th. Piper Sandler lowered their price objective on shares of Schlumberger from $71.00 to $66.00 and set an “overweight” rating on the stock in a research note on Monday, July 15th. Finally, Citigroup lowered their price objective on shares of Schlumberger from $65.00 to $62.00 and set a “buy” rating on the stock in a research note on Friday, June 28th. Two equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $66.72.

Schlumberger Trading Up 2.7 %

Shares of NYSE:SLB opened at $41.50 on Wednesday. The firm has a fifty day moving average of $44.71 and a two-hundred day moving average of $47.52. The firm has a market capitalization of $59.32 billion, a P/E ratio of 13.79, a price-to-earnings-growth ratio of 0.85 and a beta of 1.52. Schlumberger Limited has a 12-month low of $38.66 and a 12-month high of $61.78. 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 (NYSE:SLB) last issued its earnings results on Friday, July 19th. The oil and gas company reported $0.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.83 by $0.02. The company 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 for the quarter was up 12.8% on a year-over-year basis. During the same quarter last year, the business posted $0.72 EPS. On average, equities analysts expect that Schlumberger Limited will post 3.49 EPS for the current fiscal year.

Schlumberger Announces Dividend

The firm 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 annualized dividend and a dividend yield of 2.65%. The ex-dividend date of this dividend is Wednesday, September 4th. Schlumberger’s payout ratio is presently 36.54%.

Insider Activity at Schlumberger

In related news, 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 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 approximately $12,432,012.81. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Schlumberger news, CFO Stephane Biguet sold 50,048 shares of the business’s stock in a transaction on Monday, July 22nd. The shares were sold at an average price of $49.94, for a total transaction of $2,499,397.12. Following the completion of the transaction, the chief financial officer now owns 203,076 shares of the company’s stock, valued at approximately $10,141,615.44. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Mogharbel Khaled Al sold 120,668 shares of the business’s stock in a transaction on Monday, July 22nd. The stock was sold at an average price of $50.19, for a total transaction 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 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. Insiders own 0.26% of the company’s stock.

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.