Sumitomo Mitsui DS Asset Management Company Ltd Has $7.80 Million Stock Holdings in Schlumberger Limited (NYSE:SLB)

Sumitomo Mitsui DS Asset Management Company Ltd raised its stake in shares of Schlumberger Limited (NYSE:SLB) by 5.2% during the second quarter, Holdings Channel reports. The firm owned 165,361 shares of the oil and gas company’s stock after buying an additional 8,144 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Schlumberger were worth $7,802,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of SLB. Register Financial Advisors LLC acquired a new stake in Schlumberger in the 1st quarter valued at $27,000. Bruce G. Allen Investments LLC lifted its holdings in shares of Schlumberger by 204.2% during 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 acquiring an additional 392 shares during the period. Unique Wealth Strategies LLC bought a new stake in shares of Schlumberger in the 2nd quarter worth about $30,000. Manchester Capital Management LLC increased its position in shares of Schlumberger by 297.9% during the 1st quarter. Manchester Capital Management LLC now owns 569 shares of the oil and gas company’s stock worth $31,000 after purchasing an additional 426 shares in the last quarter. Finally, Riverview Trust Co lifted its holdings in Schlumberger by 90.6% during the 2nd quarter. Riverview Trust Co now owns 648 shares of the oil and gas company’s stock valued at $31,000 after purchasing an additional 308 shares during the last quarter. 81.99% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have weighed in on the stock. Bank of America decreased their price objective on shares of Schlumberger from $62.00 to $58.00 and set a “buy” rating on the stock in a research note on Monday, July 15th. Piper Sandler dropped their price target on Schlumberger from $71.00 to $66.00 and set an “overweight” rating for the company in a report on Monday, July 15th. StockNews.com cut Schlumberger from a “buy” rating to a “hold” rating in a report on Thursday, June 6th. Citigroup cut their price target on Schlumberger from $65.00 to $62.00 and set a “buy” rating for the company in a report on Friday, June 28th. Finally, Benchmark reissued a “buy” rating and set a $68.00 price objective on shares of Schlumberger in a report on Monday, July 22nd. Two analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $67.00.

Insiders Place Their Bets

In other news, Director Vijay Kasibhatla sold 10,000 shares of the business’s stock in a transaction on Monday, July 22nd. The shares were sold at an average price of $49.29, for a total value 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Schlumberger news, CFO Stephane Biguet sold 50,048 shares of the firm’s stock in a transaction that occurred on Monday, July 22nd. The shares were sold at an average price of $49.94, for a total transaction 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 filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Vijay Kasibhatla sold 10,000 shares of the company’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 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 three months, insiders have sold 185,696 shares of company stock worth $9,264,905. Company insiders own 0.26% of the company’s stock.

Schlumberger Stock Down 0.4 %

NYSE:SLB opened at $43.99 on Friday. The stock’s fifty day simple moving average is $46.15 and its 200-day simple moving average is $48.21. The firm has a market capitalization of $62.46 billion, a P/E ratio of 14.61, a P/E/G ratio of 0.97 and a beta of 1.55. 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 Limited has a 12-month low of $42.61 and a 12-month high of $62.12.

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, topping analysts’ consensus estimates 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 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. Equities research analysts expect that Schlumberger Limited will post 3.49 earnings per share for the current year.

Schlumberger Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 10th. Shareholders of record on Wednesday, September 4th will be paid a $0.275 dividend. This represents a $1.10 annualized dividend and a yield of 2.50%. The ex-dividend date of this dividend is Wednesday, September 4th. Schlumberger’s payout ratio is presently 36.54%.

About Schlumberger

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.