Great Lakes Advisors LLC Purchases 186,981 Shares of Schlumberger Limited (NYSE:SLB)

Great Lakes Advisors LLC boosted its position in Schlumberger Limited (NYSE:SLB) by 8.2% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,477,314 shares of the oil and gas company’s stock after purchasing an additional 186,981 shares during the quarter. Schlumberger comprises about 1.0% of Great Lakes Advisors LLC’s portfolio, making the stock its 18th biggest holding. Great Lakes Advisors LLC owned approximately 0.17% of Schlumberger worth $116,880,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in SLB. Capital World Investors grew its position in Schlumberger by 72.3% during the first quarter. Capital World Investors now owns 88,950,956 shares of the oil and gas company’s stock worth $4,875,402,000 after buying an additional 37,333,485 shares in the last quarter. Norges Bank acquired a new stake in shares of Schlumberger during the 4th quarter worth $1,000,292,000. Price T Rowe Associates Inc. MD increased its position in shares of Schlumberger by 14.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 85,986,039 shares of the oil and gas company’s stock worth $4,712,897,000 after purchasing an additional 10,606,191 shares during the period. Winslow Capital Management LLC raised its stake in Schlumberger by 123,063.5% in the fourth quarter. Winslow Capital Management LLC now owns 4,347,671 shares of the oil and gas company’s stock valued at $226,253,000 after purchasing an additional 4,344,141 shares in the last quarter. Finally, Boston Partners raised its stake in Schlumberger by 35.8% in the first quarter. Boston Partners now owns 11,640,827 shares of the oil and gas company’s stock valued at $635,883,000 after purchasing an additional 3,069,395 shares in the last quarter. 81.99% of the stock is owned by institutional investors and hedge funds.

Schlumberger Trading Down 1.5 %

Shares of NYSE:SLB traded down $0.60 during trading on Friday, reaching $40.62. The stock had a trading volume of 9,864,106 shares, compared to its average volume of 10,591,951. Schlumberger Limited has a 52 week low of $40.37 and a 52 week high of $62.12. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.13 and a current ratio of 1.49. The firm’s fifty day moving average is $45.59 and its 200 day moving average is $47.96. The stock has a market cap of $58.06 billion, a price-to-earnings ratio of 13.50, a P/E/G ratio of 0.94 and a beta of 1.55.

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

Schlumberger Dividend Announcement

The firm also recently declared 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 2.71%. The ex-dividend date is Wednesday, September 4th. Schlumberger’s dividend payout ratio (DPR) is presently 36.54%.

Insiders Place Their Bets

In related news, EVP Mogharbel Khaled Al sold 120,668 shares of the stock in a transaction on Monday, July 22nd. The shares were sold at an average price of $50.19, for a total transaction 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 $12,432,012.81. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, Director Vijay Kasibhatla sold 10,000 shares of the company’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 transaction of $492,900.00. Following the transaction, the director now directly owns 62,354 shares of the company’s stock, valued at $3,073,428.66. The sale 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 business’s stock in a transaction on Monday, July 22nd. The shares were sold at an average price of $50.19, for a total transaction of $6,056,326.92. Following the sale, the executive vice president now owns 247,699 shares of the company’s stock, valued at approximately $12,432,012.81. The disclosure for this sale can be found here. In the last three months, insiders have sold 180,716 shares of company stock worth $9,048,624. Corporate insiders own 0.26% of the company’s stock.

Wall Street Analyst Weigh In

SLB has been the topic of several recent analyst reports. Royal Bank of Canada reissued an “outperform” rating and issued a $69.00 target price on shares of Schlumberger in a report on Monday, July 22nd. Bank of America cut their target price on Schlumberger from $62.00 to $58.00 and set a “buy” rating for the company in a research note on Monday, July 15th. Piper Sandler reduced their target price on Schlumberger from $71.00 to $66.00 and set an “overweight” rating on the stock 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. Finally, UBS Group reduced their price objective on Schlumberger from $67.00 to $63.00 and set a “buy” rating on the stock in a research note on Tuesday, August 20th. Two research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average 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.