Renaissance Technologies LLC Has $71.36 Million Stock Holdings in Schlumberger Limited (NYSE:SLB)

Renaissance Technologies LLC cut its holdings in Schlumberger Limited (NYSE:SLB) by 38.9% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 1,512,404 shares of the oil and gas company’s stock after selling 964,000 shares during the quarter. Renaissance Technologies LLC owned about 0.11% of Schlumberger worth $71,355,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Gryphon Financial Partners LLC boosted its position in Schlumberger by 46.3% during the 4th quarter. Gryphon Financial Partners LLC now owns 6,538 shares of the oil and gas company’s stock worth $340,000 after acquiring an additional 2,068 shares during the last quarter. Financial Advocates Investment Management boosted its position in Schlumberger by 25.5% during the 4th quarter. Financial Advocates Investment Management now owns 6,190 shares of the oil and gas company’s stock worth $322,000 after acquiring an additional 1,259 shares during the last quarter. Independent Advisor Alliance boosted its position in Schlumberger by 28.9% during the 4th quarter. Independent Advisor Alliance now owns 10,351 shares of the oil and gas company’s stock worth $539,000 after acquiring an additional 2,323 shares during the last quarter. AMG National Trust Bank boosted its position in Schlumberger by 54.3% during the 4th quarter. AMG National Trust Bank now owns 7,806 shares of the oil and gas company’s stock worth $406,000 after acquiring an additional 2,748 shares during the last quarter. Finally, Gladstone Institutional Advisory LLC boosted its position in Schlumberger by 42.8% during the 4th quarter. Gladstone Institutional Advisory LLC now owns 8,570 shares of the oil and gas company’s stock worth $446,000 after acquiring an additional 2,570 shares during the last quarter. 81.99% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. UBS Group reduced their price target on Schlumberger from $67.00 to $63.00 and set a “buy” rating for the company in a research report on Tuesday, August 20th. Citigroup cut their price objective on Schlumberger from $65.00 to $62.00 and set a “buy” rating for the company in a report on Friday, June 28th. Bank of America cut their price objective on Schlumberger from $62.00 to $58.00 and set a “buy” rating for the company in a report on Monday, July 15th. Royal Bank of Canada reissued an “outperform” rating and issued a $69.00 price objective on shares of Schlumberger in a report on Monday, July 22nd. Finally, Piper Sandler cut their price objective on Schlumberger from $71.00 to $66.00 and set an “overweight” rating for the company in a report on Monday, July 15th. Two research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $66.72.

Insiders Place Their Bets

In other Schlumberger 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 transaction of $6,056,326.92. Following the transaction, the executive vice president now owns 247,699 shares in the company, valued at approximately $12,432,012.81. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Schlumberger 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 transaction of $6,056,326.92. Following the transaction, the executive vice president now owns 247,699 shares in the company, valued at approximately $12,432,012.81. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Stephane Biguet sold 50,048 shares of the stock in a transaction on 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 $10,141,615.44. The disclosure for this sale can be found here. Insiders have sold 180,716 shares of company stock worth $9,048,624 in the last 90 days. Company insiders own 0.26% of the company’s stock.

Schlumberger Stock Up 1.1 %

SLB opened at $40.39 on Tuesday. Schlumberger Limited has a 1-year low of $38.66 and a 1-year high of $61.78. The stock’s fifty day simple moving average is $44.78 and its 200 day simple moving average is $47.58. The company has a current ratio of 1.49, a quick ratio of 1.13 and a debt-to-equity ratio of 0.55. The stock has a market cap of $57.35 billion, a PE ratio of 13.42, a price-to-earnings-growth ratio of 0.85 and a beta of 1.51.

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, topping the consensus estimate of $0.83 by $0.02. The firm 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 company’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 EPS. As a group, research analysts expect that Schlumberger Limited will post 3.49 earnings per share for the current year.

Schlumberger Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 10th. Shareholders of record on Wednesday, September 4th will be given a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a yield of 2.72%. The ex-dividend date is Wednesday, September 4th. Schlumberger’s payout ratio is 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.