Van Cleef Asset Management Inc Acquires 910 Shares of Schlumberger Limited (NYSE:SLB)

Van Cleef Asset Management Inc increased its holdings in shares of Schlumberger Limited (NYSE:SLB) by 1.1% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 86,364 shares of the oil and gas company’s stock after acquiring an additional 910 shares during the quarter. Schlumberger comprises about 0.5% of Van Cleef Asset Management Inc’s investment portfolio, making the stock its 29th largest holding. Van Cleef Asset Management Inc’s holdings in Schlumberger were worth $4,075,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of SLB. Register Financial Advisors LLC bought a new position in shares of Schlumberger during the first quarter worth approximately $27,000. Manchester Capital Management LLC increased its stake in 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 acquiring an additional 426 shares during the period. Bruce G. Allen Investments LLC raised its holdings in Schlumberger by 204.2% in the 2nd 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 in the last quarter. Transcendent Capital Group LLC bought a new stake in shares of Schlumberger during the 4th quarter valued at $32,000. Finally, Unique Wealth Strategies LLC acquired a new stake in shares of Schlumberger during the 2nd quarter worth $30,000. Institutional investors and hedge funds own 81.99% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Mogharbel Khaled Al sold 120,668 shares of the business’s stock in a transaction dated Monday, July 22nd. The stock was sold at an average price of $50.19, for a total value 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Vijay Kasibhatla sold 10,000 shares of the stock in a transaction dated Monday, July 22nd. The shares were sold at an average price of $49.29, for a total transaction of $492,900.00. Following the transaction, the director now owns 62,354 shares of the company’s stock, valued at approximately $3,073,428.66. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Mogharbel Khaled Al sold 120,668 shares of the stock in a transaction that occurred on Monday, July 22nd. The stock was sold at an average price of $50.19, for a total value of $6,056,326.92. Following the completion of the transaction, the executive vice president now owns 247,699 shares in the company, valued at approximately $12,432,012.81. The disclosure for this sale can be found here. In the last ninety days, insiders sold 180,716 shares of company stock worth $9,048,624. Company insiders own 0.26% of the company’s stock.

Schlumberger Price Performance

Shares of SLB opened at $39.59 on Wednesday. The business has a 50-day moving average of $45.33 and a 200-day moving average of $47.82. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.49 and a quick ratio of 1.13. The company has a market capitalization of $56.21 billion, a price-to-earnings ratio of 13.15, a price-to-earnings-growth ratio of 0.87 and a beta of 1.52. Schlumberger Limited has a 1 year low of $39.12 and a 1 year high of $62.12.

Schlumberger (NYSE:SLB) last released its quarterly earnings results on Friday, July 19th. The oil and gas company reported $0.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.83 by $0.02. Schlumberger had a net margin of 12.56% and a return on equity of 21.92%. The firm had revenue of $9.14 billion during the quarter, compared to analyst estimates of $9.08 billion. During the same quarter last year, the business earned $0.72 EPS. The company’s revenue was up 12.8% compared to the same quarter last year. As a group, equities research analysts anticipate that Schlumberger Limited will post 3.49 earnings per share for the current year.

Schlumberger Announces Dividend

The company also recently declared 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. The ex-dividend date of this dividend is Wednesday, September 4th. This represents a $1.10 dividend on an annualized basis and a yield of 2.78%. Schlumberger’s dividend payout ratio (DPR) is currently 36.54%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on SLB shares. Royal Bank of Canada reaffirmed an “outperform” rating and set a $69.00 price objective on shares of Schlumberger in a research report on Monday, July 22nd. UBS Group reduced their price target on shares of Schlumberger from $67.00 to $63.00 and set a “buy” rating on the stock in a research report on Tuesday, August 20th. TD Cowen boosted their price objective on shares of Schlumberger from $62.00 to $64.00 and gave the company a “buy” rating in a research report on Monday, July 22nd. StockNews.com cut Schlumberger from a “buy” rating to a “hold” rating in a research note on Thursday, June 6th. Finally, Piper Sandler decreased their price target on Schlumberger from $71.00 to $66.00 and set an “overweight” rating on the stock in a research note on Monday, July 15th. Two analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. Based on data from MarketBeat, Schlumberger currently has an average rating of “Moderate Buy” and a consensus price target of $67.00.

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.