12 hours Ago By Defense World Staff
First Eagle Investment Management LLC cut its stake in Schlumberger Limited ( NYSE:SLB – Free Report ) by 0.2% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 26,861,479 shares of the oil and gas company’s stock after selling 46,504 shares during the period.
Schlumberger makes up about 2.8% of First Eagle Investment Management LLC’s holdings, making the stock its 7th largest holding. First Eagle Investment Management LLC owned approximately 1.
88% of Schlumberger worth $1,267,325,000 as of its most recent filing with the Securities and Exchange Commission (SEC). Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Carolinas Wealth Consulting LLC increased its stake in shares of Schlumberger by 19.
9% in the 2nd quarter. Carolinas Wealth Consulting LLC now owns 1,783 shares of the oil and gas company’s stock worth $84,000 after acquiring an additional 296 shares during the last quarter. Seven Eight Capital LP purchased a new stake in shares of Schlumberger in the second quarter valued at about $385,000.
Oslo Asset Management AS acquired a new stake in Schlumberger during the second quarter worth about $7,398,000. Argent Trust Co raised its stake in Schlumberger by 9.8% during the second quarter.
Argent Trust Co now owns 82,079 shares of the oil and gas company’s stock worth $3,872,000 after purchasing an additional 7,297 shares during the period. Finally, Lingotto Investment Management LLP boosted its holdings in Schlumberger by 1.6% in the 2nd quarter.
Lingotto Investment Management LLP now owns 2,866,040 shares of the oil and gas company’s stock valued at $135,220,000 after purchasing an additional 46,202 shares during the last quarter. Institutional investors and hedge funds own 81.99% of the company’s stock.
Schlumberger Stock Down 0.2 % Shares of NYSE SLB opened at $41.44 on Thursday.
The stock has a market cap of $59.22 billion, a P/E ratio of 13.77, a PEG ratio of 0.
85 and a beta of 1.52. The business’s fifty day simple moving average is $44.
63 and its 200-day simple moving average is $47.48. Schlumberger Limited has a 12-month low of $38.
66 and a 12-month high of $61.70. The company has a current ratio of 1.
49, a quick ratio of 1.13 and a debt-to-equity ratio of 0.55.
Schlumberger Dividend Announcement The company also recently declared a quarterly dividend, which will be paid on Thursday, October 10th. Investors of record on Wednesday, September 4th will be paid a $0.275 dividend.
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.
65%. Schlumberger’s dividend payout ratio is currently 36.54%.
Insiders Place Their Bets In other news, Director Vijay Kasibhatla sold 10,000 shares of Schlumberger stock in a transaction 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 sale, the director now directly owns 62,354 shares of the company’s stock, valued at approximately $3,073,428.66.
The transaction was disclosed in a filing with the SEC, which is available through the SEC website . In other news, CFO Stephane Biguet sold 50,048 shares of the stock in a transaction dated 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 approximately $10,141,615.
44. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink . Also, Director Vijay Kasibhatla sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, July 22nd.
The stock was sold at an average price of $49.29, for a total value of $492,900.00.
Following the sale, 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 .
Insiders sold 180,716 shares of company stock worth $9,048,624 in the last 90 days. Corporate insiders own 0.26% of the company’s stock.
Analysts Set New Price Targets SLB has been the subject of a number of recent analyst reports. TD Cowen raised their price target on shares of Schlumberger from $62.00 to $64.
00 and gave the stock a “buy” rating in a report on Monday, July 22nd. StockNews.com downgraded Schlumberger from a “buy” rating to a “hold” rating in a research report on Thursday, June 6th.
Royal Bank of Canada reaffirmed an “outperform” rating and issued a $69.00 price target on shares of Schlumberger in a research note on Monday, July 22nd. Morgan Stanley cut their price objective on Schlumberger from $65.
00 to $60.00 and set an “overweight” rating for the company in a research report on Monday. Finally, Citigroup decreased their target price on shares of Schlumberger from $65.
00 to $62.00 and set a “buy” rating on the stock in a research report on Friday, June 28th. Two equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock.
Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $66.29.
Read Our Latest Analysis on SLB Schlumberger Company Profile ( Free Report ) 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.
See Also Five stocks we like better than Schlumberger Consumer Discretionary Stocks Explained How Much Can You Make in Stocks in One Month? Investing in Commodities: What Are They? How to Invest in Them This Is the Top Large-Cap Stock Insiders Are Buying How to Calculate Retirement Income: MarketBeat’s Calculator Capitalize on Micron’s 24% Drop—Wall Street Eyes Major Upside Receive News & Ratings for Schlumberger Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Schlumberger and related companies with MarketBeat.com's FREE daily email newsletter ..
