Schlumberger Limited (NYSE:SLB) is Ceredex Value Advisors LLC’s 6th Largest Position

Ceredex Value Advisors LLC lifted its stake in shares of Schlumberger Limited (NYSE:SLB) by 20.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,371,977 shares of the oil and gas company’s stock after purchasing an additional 401,981 shares during the quarter. Schlumberger comprises approximately 2.0% of Ceredex Value Advisors LLC’s portfolio, making the stock its 6th biggest position. Ceredex Value Advisors LLC owned about 0.17% of Schlumberger worth $100,045,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of SLB. Capital World Investors grew its holdings 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 acquiring an additional 37,333,485 shares during the period. Price T Rowe Associates Inc. MD grew its holdings in Schlumberger by 14.1% during 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 acquiring an additional 10,606,191 shares during the period. Boston Partners grew its holdings in Schlumberger by 35.8% during the first quarter. Boston Partners now owns 11,640,827 shares of the oil and gas company’s stock worth $635,883,000 after acquiring an additional 3,069,395 shares during the period. 1832 Asset Management L.P. acquired a new position in Schlumberger during the second quarter worth $91,364,000. Finally, Vanguard Group Inc. grew its holdings in Schlumberger by 1.4% during the first quarter. Vanguard Group Inc. now owns 134,150,168 shares of the oil and gas company’s stock worth $7,352,771,000 after acquiring an additional 1,868,688 shares during the period. Hedge funds and other institutional investors own 81.99% of the company’s stock.

Insider Transactions at Schlumberger

In other news, EVP Abdellah Merad sold 60,000 shares of the 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 completion of the sale, the executive vice president now owns 211,937 shares in the company, valued at approximately $8,880,160.30. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.26% of the company’s stock.

Schlumberger Stock Performance

NYSE SLB opened at $39.76 on Friday. The business’s 50-day moving average price is $42.44 and its 200 day moving average price is $45.19. Schlumberger Limited has a twelve month low of $38.66 and a twelve month high of $57.75. The company has a market capitalization of $56.15 billion, a PE ratio of 12.78, a price-to-earnings-growth ratio of 1.41 and a beta of 1.52. The company has a current ratio of 1.48, a quick ratio of 1.12 and a debt-to-equity ratio of 0.52.

Schlumberger (NYSE:SLB) last released 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 firm had revenue of $9.16 billion for the quarter, compared to the consensus estimate of $9.27 billion. During the same period in the prior year, the business posted $0.78 earnings per share. The firm’s revenue for the quarter was up 10.2% compared to the same quarter last year. On average, research analysts predict that Schlumberger Limited will post 3.4 earnings per share for the current year.

Schlumberger Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 9th. Investors of record on Wednesday, December 4th will be given a dividend of $0.275 per share. The ex-dividend date of this dividend is Wednesday, December 4th. This represents a $1.10 annualized dividend and a yield of 2.77%. Schlumberger’s dividend payout ratio (DPR) is presently 35.37%.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on SLB shares. UBS Group dropped their price objective on Schlumberger from $63.00 to $57.00 and set a “buy” rating on the stock in a report on Wednesday, September 18th. Stifel Nicolaus reaffirmed a “buy” rating and set a $60.00 price objective (down previously from $62.00) on shares of Schlumberger in a report on Monday, October 21st. Piper Sandler dropped their price objective on Schlumberger from $71.00 to $66.00 and set an “overweight” rating on the stock in a report on Monday, July 15th. Barclays lowered their target price on Schlumberger from $67.00 to $63.00 and set an “overweight” rating on the stock in a report on Wednesday, October 16th. Finally, Susquehanna lowered their target price on Schlumberger from $60.00 to $56.00 and set a “positive” rating on the stock in a report on Monday, October 21st. Two equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $60.97.

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.