Northeast Investment Management Has $4.42 Million Stake in Schlumberger Limited (NYSE:SLB)

Northeast Investment Management lifted its position in Schlumberger Limited (NYSE:SLB) by 0.9% in the second quarter, HoldingsChannel.com reports. The firm owned 93,773 shares of the oil and gas company’s stock after acquiring an additional 873 shares during the period. Northeast Investment Management’s holdings in Schlumberger were worth $4,424,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Register Financial Advisors LLC acquired a new position in shares of Schlumberger in the first quarter valued at $27,000. Bruce G. Allen Investments LLC raised its stake in shares of Schlumberger by 204.2% in the second quarter. Bruce G. Allen Investments LLC now owns 584 shares of the oil and gas company’s stock valued at $28,000 after purchasing an additional 392 shares in the last quarter. Unique Wealth Strategies LLC acquired a new position in shares of Schlumberger in the second quarter valued at $30,000. Manchester Capital Management LLC raised its stake in shares of Schlumberger by 297.9% in the first quarter. Manchester Capital Management LLC now owns 569 shares of the oil and gas company’s stock valued at $31,000 after purchasing an additional 426 shares in the last quarter. Finally, Riverview Trust Co raised its stake in Schlumberger by 90.6% during the second quarter. Riverview Trust Co now owns 648 shares of the oil and gas company’s stock worth $31,000 after acquiring an additional 308 shares in the last quarter. 81.99% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

SLB has been the subject of several recent analyst reports. Barclays dropped their price objective on Schlumberger from $70.00 to $67.00 and set an “overweight” rating for the company in a research note on Tuesday, July 23rd. UBS Group dropped their price objective on Schlumberger from $67.00 to $63.00 and set a “buy” rating for the company in a research note on Tuesday, August 20th. TD Cowen increased their price objective on Schlumberger from $62.00 to $64.00 and gave the stock a “buy” rating in a research note on Monday, July 22nd. Benchmark reiterated a “buy” rating and set a $68.00 price objective on shares of Schlumberger in a research note on Monday, July 22nd. Finally, Piper Sandler decreased their target price on Schlumberger from $71.00 to $66.00 and set an “overweight” rating on the stock in a report on Monday, July 15th. Two research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $67.00.

Schlumberger Trading Down 2.9 %

Schlumberger stock traded down $1.30 during mid-day trading on Wednesday, hitting $43.74. The stock had a trading volume of 9,853,626 shares, compared to its average volume of 10,604,971. The stock has a 50-day simple moving average of $46.19 and a two-hundred day simple moving average of $48.27. The stock has a market capitalization of $62.52 billion, a PE ratio of 14.53, a P/E/G ratio of 0.96 and a beta of 1.55. Schlumberger Limited has a 12 month low of $42.61 and a 12 month high of $62.12. The company has a current ratio of 1.49, a quick ratio of 1.13 and a debt-to-equity ratio of 0.55.

Schlumberger (NYSE:SLB) last posted its quarterly earnings results on Friday, July 19th. The oil and gas company reported $0.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.83 by $0.02. The business had revenue of $9.14 billion for 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 firm’s quarterly revenue was up 12.8% compared to the same quarter last year. During the same quarter last year, the business earned $0.72 earnings per share. As a group, sell-side analysts forecast that Schlumberger Limited will post 3.49 EPS for the current year.

Schlumberger Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 10th. Shareholders of record on Wednesday, September 4th will be issued a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a yield of 2.51%. The ex-dividend date of this dividend is Wednesday, September 4th. Schlumberger’s dividend payout ratio (DPR) is currently 36.54%.

Insiders Place Their Bets

In other Schlumberger news, insider Bejar Carmen Rando sold 4,980 shares of the firm’s stock in a transaction dated Friday, June 7th. The stock was sold at an average price of $43.43, for a total transaction of $216,281.40. Following the transaction, the insider now owns 22,518 shares in the company, valued at $977,956.74. The sale was disclosed in a document filed with the SEC, which is available through this link. In other news, EVP Mogharbel Khaled Al sold 120,668 shares of the firm’s stock in a transaction dated 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 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 legal filing with the SEC, which is available at the SEC website. Also, insider Bejar Carmen Rando sold 4,980 shares of the firm’s stock in a transaction dated Friday, June 7th. The stock was sold at an average price of $43.43, for a total value of $216,281.40. Following the sale, the insider now directly owns 22,518 shares in the company, valued at approximately $977,956.74. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 185,696 shares of company stock worth $9,264,905. 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.