Schlumberger Limited (NYSE:SLB) Shares Bought by abrdn plc

abrdn plc grew its holdings in shares of Schlumberger Limited (NYSE:SLB) by 16.6% in the third quarter, according to its most recent filing with the SEC. The firm owned 2,866,917 shares of the oil and gas company’s stock after acquiring an additional 407,836 shares during the quarter. abrdn plc’s holdings in Schlumberger were worth $120,769,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Manchester Capital Management LLC boosted its position 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 boosted its position in Schlumberger by 204.2% during the 2nd quarter. Bruce G. Allen Investments LLC now owns 584 shares of the oil and gas company’s stock worth $28,000 after acquiring an additional 392 shares during the period. ORG Partners LLC boosted its position in Schlumberger by 393.5% during the 3rd quarter. ORG Partners LLC now owns 607 shares of the oil and gas company’s stock worth $25,000 after acquiring an additional 484 shares during the period. Unique Wealth Strategies LLC acquired a new position in Schlumberger during the 2nd quarter worth $30,000. Finally, Riverview Trust Co boosted its position in Schlumberger by 90.6% during the 2nd quarter. Riverview Trust Co now owns 648 shares of the oil and gas company’s stock worth $31,000 after acquiring an additional 308 shares during the period. Institutional investors and hedge funds own 81.99% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on SLB. Piper Sandler cut their price objective on Schlumberger from $71.00 to $66.00 and set an “overweight” rating for the company in a report on Monday, July 15th. JPMorgan Chase & Co. cut their price objective on Schlumberger from $64.00 to $60.00 and set an “overweight” rating for the company in a report on Tuesday, October 1st. Dbs Bank assumed coverage on Schlumberger in a research report on Wednesday, September 18th. They set a “buy” rating and a $64.50 target price on the stock. Evercore ISI cut their target price on Schlumberger from $74.00 to $62.00 and set an “outperform” rating on the stock in a research report on Monday, October 21st. Finally, Susquehanna cut their target price on Schlumberger from $60.00 to $56.00 and set a “positive” rating on the stock in a research report on Monday, October 21st. Two equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $60.97.

Insiders Place Their Bets

In other Schlumberger news, EVP Abdellah Merad sold 60,000 shares of the company’s stock in a transaction dated Thursday, October 24th. The stock was sold at an average price of $41.90, for a total value of $2,514,000.00. Following the transaction, the executive vice president now directly owns 211,937 shares of the company’s stock, valued at $8,880,160.30. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.26% of the company’s stock.

Schlumberger Stock Performance

Shares of SLB stock opened at $41.39 on Tuesday. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.48 and a quick ratio of 1.12. Schlumberger Limited has a fifty-two week low of $38.66 and a fifty-two week high of $57.75. The stock’s 50-day moving average is $42.78 and its two-hundred day moving average is $45.43. The firm has a market cap of $59.16 billion, a P/E ratio of 13.75, a PEG ratio of 1.47 and a beta of 1.51.

Schlumberger (NYSE:SLB) last issued its earnings results on Friday, October 18th. The oil and gas company reported $0.89 earnings per share for the quarter, topping the consensus estimate of $0.88 by $0.01. Schlumberger had a return on equity of 21.84% and a net margin of 12.44%. The company had revenue of $9.16 billion for the quarter, compared to analyst estimates of $9.27 billion. During the same period in the prior year, the firm posted $0.78 EPS. The business’s revenue was up 10.2% compared to the same quarter last year. Analysts predict that Schlumberger Limited will post 3.4 earnings per share for the current fiscal year.

Schlumberger Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 9th. Shareholders of record on Wednesday, December 4th will be given a $0.275 dividend. This represents a $1.10 annualized dividend and a yield of 2.66%. The ex-dividend date of this dividend is Wednesday, December 4th. Schlumberger’s payout ratio is currently 36.54%.

Schlumberger Company Profile

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.