Csenge Advisory Group Grows Position in Schlumberger Limited (NYSE:SLB)

Csenge Advisory Group grew its stake in Schlumberger Limited (NYSE:SLB) by 61.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 8,349 shares of the oil and gas company’s stock after buying an additional 3,171 shares during the period. Csenge Advisory Group’s holdings in Schlumberger were worth $394,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Turtle Creek Wealth Advisors LLC purchased a new stake in shares of Schlumberger in the 4th quarter valued at $26,000. Register Financial Advisors LLC purchased a new position in shares of Schlumberger during the 1st quarter valued at approximately $27,000. Manchester Capital Management LLC lifted its stake in shares of Schlumberger by 297.9% in the 1st 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 during the period. Transcendent Capital Group LLC purchased a new stake in Schlumberger during the fourth quarter worth $32,000. Finally, Janiczek Wealth Management LLC grew its position in Schlumberger by 1,180.4% during the fourth quarter. Janiczek Wealth Management LLC now owns 653 shares of the oil and gas company’s stock valued at $34,000 after buying an additional 602 shares during the period. 81.99% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CFO Stephane Biguet sold 50,048 shares of the firm’s stock in a transaction dated Monday, July 22nd. The stock was sold at an average price of $49.94, for a total transaction of $2,499,397.12. Following the completion of the sale, the chief financial officer now directly owns 203,076 shares of the company’s stock, valued at approximately $10,141,615.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Schlumberger news, CTO Demosthenis Pafitis sold 63,095 shares of the business’s stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $48.26, for a total value of $3,044,964.70. Following the sale, the chief technology officer now owns 33,421 shares of the company’s stock, valued at $1,612,897.46. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Stephane Biguet sold 50,048 shares of the company’s 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 transaction, the chief financial officer now owns 203,076 shares in the company, valued at $10,141,615.44. The disclosure for this sale can be found here. Over the last three months, insiders sold 286,874 shares of company stock worth $14,148,517. Company insiders own 0.26% of the company’s stock.

Schlumberger Trading Up 1.9 %

Shares of NYSE SLB traded up $0.83 during trading on Thursday, hitting $43.69. 6,693,842 shares of the company were exchanged, compared to its average volume of 10,968,539. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.13 and a current ratio of 1.49. Schlumberger Limited has a 12-month low of $42.61 and a 12-month high of $62.12. The company has a fifty day moving average price of $46.11 and a 200-day moving average price of $48.76. The firm has a market capitalization of $62.45 billion, a PE ratio of 14.51, a P/E/G ratio of 0.96 and a beta of 1.55.

Schlumberger (NYSE:SLB) last issued its earnings results on Friday, July 19th. The oil and gas company reported $0.85 EPS for the quarter, topping analysts’ consensus estimates of $0.83 by $0.02. Schlumberger had a net margin of 12.56% and a return on equity of 21.92%. The company had revenue of $9.14 billion for the quarter, compared to the consensus estimate of $9.08 billion. During the same period in the previous year, the firm earned $0.72 earnings per share. Schlumberger’s quarterly revenue was up 12.8% compared to the same quarter last year. As a group, equities research analysts expect that Schlumberger Limited will post 3.49 EPS for the current 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 issued a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a yield of 2.52%. The ex-dividend date of this dividend is Wednesday, September 4th. Schlumberger’s dividend payout ratio is presently 36.54%.

Wall Street Analysts Forecast Growth

SLB has been the topic of several recent analyst reports. TD Cowen increased their target price on shares of Schlumberger from $62.00 to $64.00 and gave the stock a “buy” rating in a research note on Monday, July 22nd. Wells Fargo & Company lowered Schlumberger from an “overweight” rating to an “equal weight” rating and dropped their price objective for the company from $68.00 to $53.00 in a report on Monday, April 29th. Piper Sandler reduced their target price on Schlumberger from $71.00 to $66.00 and set an “overweight” rating for the company in a research note on Monday, July 15th. Citigroup dropped their price target 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. Finally, Benchmark restated a “buy” rating and set a $68.00 price objective on shares of Schlumberger in a research report on Monday, July 22nd. Two investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $67.56.

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.