Mirae Asset Global Investments Co. Ltd. raised its holdings in Schlumberger Limited. (NYSE:SLB) by 55.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 89,493 shares of the oil and gas company’s stock after buying an additional 32,058 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Schlumberger were worth $5,456,000 as of its most recent SEC filing.
A number of other institutional investors have also bought and sold shares of the business. Guyasuta Investment Advisors Inc. grew its holdings in shares of Schlumberger by 0.5% during the second quarter. Guyasuta Investment Advisors Inc. now owns 165,349 shares of the oil and gas company’s stock worth $11,083,000 after buying an additional 809 shares during the last quarter. Securian Asset Management Inc grew its holdings in shares of Schlumberger by 0.6% during the second quarter. Securian Asset Management Inc now owns 139,962 shares of the oil and gas company’s stock worth $9,382,000 after buying an additional 841 shares during the last quarter. Covenant Multifamily Offices LLC grew its holdings in shares of Schlumberger by 2.3% during the second quarter. Covenant Multifamily Offices LLC now owns 39,569 shares of the oil and gas company’s stock worth $2,652,000 after buying an additional 904 shares during the last quarter. Perennial Advisors LLC grew its holdings in shares of Schlumberger by 5.4% during the second quarter. Perennial Advisors LLC now owns 17,938 shares of the oil and gas company’s stock worth $1,202,000 after buying an additional 916 shares during the last quarter. Finally, Belpointe Asset Management LLC grew its holdings in shares of Schlumberger by 19.6% during the second quarter. Belpointe Asset Management LLC now owns 5,814 shares of the oil and gas company’s stock worth $390,000 after buying an additional 952 shares during the last quarter. Institutional investors own 77.74% of the company’s stock.
SLB stock opened at $42.32 on Friday. Schlumberger Limited. has a 12-month low of $41.87 and a 12-month high of $80.35. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.13 and a quick ratio of 0.85. The company has a market cap of $61.10 billion, a PE ratio of 28.21, a P/E/G ratio of 4.39 and a beta of 1.04.
Schlumberger (NYSE:SLB) last posted its quarterly earnings results on Friday, October 19th. The oil and gas company reported $0.46 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.45 by $0.01. Schlumberger had a negative net margin of 2.00% and a positive return on equity of 6.55%. The company had revenue of $8.50 billion during the quarter, compared to the consensus estimate of $8.57 billion. During the same period last year, the firm earned $0.42 EPS. The company’s revenue for the quarter was up 7.6% on a year-over-year basis. On average, analysts forecast that Schlumberger Limited. will post 1.68 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 2nd. Stockholders of record on Wednesday, December 5th will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Tuesday, December 4th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.73%. Schlumberger’s payout ratio is 133.33%.
In other news, CFO Simon Ayat sold 60,000 shares of Schlumberger stock in a transaction that occurred on Tuesday, October 30th. The shares were sold at an average price of $56.60, for a total transaction of $3,396,000.00. Following the completion of the sale, the chief financial officer now directly owns 234,008 shares in the company, valued at approximately $13,244,852.80. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.48% of the stock is currently owned by company insiders.
SLB has been the topic of a number of research reports. UBS Group lowered their price target on Schlumberger from $92.00 to $75.00 and set a “buy” rating on the stock in a report on Monday, October 22nd. Citigroup lowered their price target on Schlumberger from $77.00 to $72.00 and set a “buy” rating on the stock in a report on Monday, October 22nd. Bank of America initiated coverage on Schlumberger in a report on Wednesday, October 17th. They set a “buy” rating on the stock. Jefferies Financial Group lowered their price target on Schlumberger from $80.00 to $75.00 and set a “buy” rating on the stock in a report on Wednesday, September 26th. Finally, HSBC raised Schlumberger from a “hold” rating to a “buy” rating in a report on Monday, November 26th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and seventeen have given a buy rating to the company. Schlumberger has an average rating of “Buy” and a consensus price target of $74.50.
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Schlumberger Limited supplies technology products and services to the oil and gas exploration and production industry worldwide. The company's Reservoir Characterization Group segment provides reservoir interpretation and data processing services; open and cased-hole services; slickline services; exploration and production pressure and flow-rate measurement services at the surface and downhole; software integrated solutions, such as software, consulting, information management, and IT infrastructure services; consulting services for reservoir characterization, field development planning, and production enhancement; and petrotechnical data services and training solutions, as well as integrated management services.
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