Isthmus Partners LLC Grows Stock Holdings in Schlumberger Limited (NYSE:SLB)

Isthmus Partners LLC raised its stake in Schlumberger Limited (NYSE:SLB) by 0.4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 255,907 shares of the oil and gas company’s stock after acquiring an additional 1,089 shares during the quarter. Schlumberger comprises 4.6% of Isthmus Partners LLC’s holdings, making the stock its 8th largest position. Isthmus Partners LLC’s holdings in Schlumberger were worth $12,074,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently bought and sold shares of SLB. Capital World Investors lifted its stake in Schlumberger by 72.3% in the 1st quarter. Capital World Investors now owns 88,950,956 shares of the oil and gas company’s stock valued at $4,875,402,000 after purchasing an additional 37,333,485 shares during the last quarter. Norges Bank bought a new position in Schlumberger in the 4th quarter valued at approximately $1,000,292,000. Price T Rowe Associates Inc. MD lifted its stake in Schlumberger by 14.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 85,986,039 shares of the oil and gas company’s stock valued at $4,712,897,000 after purchasing an additional 10,606,191 shares during the last quarter. Winslow Capital Management LLC lifted its stake in Schlumberger by 123,063.5% in the 4th 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 during the last quarter. Finally, Boston Partners raised its stake in shares of Schlumberger by 35.8% during 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 acquiring an additional 3,069,395 shares during the last quarter. 81.99% of the stock is owned by institutional investors.

Insider Activity at Schlumberger

In related news, CFO Stephane Biguet sold 50,048 shares of the stock in a transaction that occurred on Monday, July 22nd. The shares were 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 sale was disclosed in a filing with the SEC, which is available through this link. In other Schlumberger news, CFO Stephane Biguet sold 50,048 shares of the firm’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 approximately $10,141,615.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Mogharbel Khaled Al sold 120,668 shares of the firm’s stock in a transaction on Monday, July 22nd. The shares were sold at an average price of $50.19, for a total value of $6,056,326.92. Following the completion of the transaction, the executive vice president now owns 247,699 shares in the company, valued at approximately $12,432,012.81. The disclosure for this sale can be found here. Insiders sold 180,716 shares of company stock valued at $9,048,624 in the last three months. 0.26% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on SLB shares. Piper Sandler dropped their price target on shares of Schlumberger from $71.00 to $66.00 and set an “overweight” rating for the company in a research note on Monday, July 15th. TD Cowen raised their price target on shares of Schlumberger from $62.00 to $64.00 and gave the company a “buy” rating in a research note on Monday, July 22nd. StockNews.com downgraded shares of Schlumberger from a “buy” rating to a “hold” rating in a research note on Thursday, June 6th. Bank of America dropped their price target on shares of Schlumberger from $62.00 to $58.00 and set a “buy” rating for the company in a research note on Monday, July 15th. Finally, Benchmark reissued a “buy” rating and set a $68.00 target price on shares of Schlumberger in a research note on Monday, July 22nd. Two equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to data from MarketBeat.com, Schlumberger presently has a consensus rating of “Moderate Buy” and an average target price of $67.00.

Schlumberger Price Performance

Shares of SLB stock traded down $0.60 during mid-day trading on Friday, hitting $40.62. The company had a trading volume of 9,864,106 shares, compared to its average volume of 10,591,951. The stock’s 50 day moving average price is $45.59 and its 200-day moving average price is $47.96. Schlumberger Limited has a 52-week low of $40.37 and a 52-week high of $62.12. The company has a market capitalization of $58.06 billion, a P/E ratio of 13.50, a P/E/G ratio of 0.94 and a beta of 1.55. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.49 and a quick ratio of 1.13.

Schlumberger (NYSE:SLB) last posted its quarterly 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 firm had revenue of $9.14 billion for the quarter, compared to analysts’ expectations of $9.08 billion. During the same period in the prior year, the business posted $0.72 earnings per share. The business’s revenue for the quarter was up 12.8% on a year-over-year basis. Equities research analysts forecast that Schlumberger Limited will post 3.49 earnings per share for the current year.

Schlumberger Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 10th. Shareholders of record on Wednesday, September 4th will be given a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a dividend yield of 2.71%. The ex-dividend date of this dividend is Wednesday, September 4th. Schlumberger’s payout ratio is 36.54%.

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.