abrdn plc Increases Position in Schlumberger Limited (NYSE:SLB)

abrdn plc boosted its holdings in shares of Schlumberger Limited (NYSE:SLB) by 19.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,291,448 shares of the oil and gas company’s stock after purchasing an additional 374,416 shares during the quarter. abrdn plc’s holdings in Schlumberger were worth $119,247,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of SLB. Greenleaf Trust lifted its holdings in Schlumberger by 20.6% during the fourth quarter. Greenleaf Trust now owns 40,571 shares of the oil and gas company’s stock valued at $2,111,000 after purchasing an additional 6,924 shares in the last quarter. Lafayette Investments Inc. boosted its holdings in Schlumberger by 24.3% in the 4th quarter. Lafayette Investments Inc. now owns 11,500 shares of the oil and gas company’s stock worth $598,000 after buying an additional 2,250 shares during the last quarter. Fidelis Capital Partners LLC increased its stake in Schlumberger by 7.3% during the 4th quarter. Fidelis Capital Partners LLC now owns 18,315 shares of the oil and gas company’s stock worth $953,000 after buying an additional 1,241 shares in the last quarter. Xponance Inc. raised its holdings in shares of Schlumberger by 8.0% during the fourth quarter. Xponance Inc. now owns 185,501 shares of the oil and gas company’s stock valued at $9,653,000 after acquiring an additional 13,769 shares during the last quarter. Finally, Waterfront Wealth Inc. lifted its position in shares of Schlumberger by 3.5% in the fourth quarter. Waterfront Wealth Inc. now owns 13,051 shares of the oil and gas company’s stock valued at $679,000 after acquiring an additional 442 shares in the last quarter. 81.99% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms recently commented on SLB. Stifel Nicolaus increased their price objective on Schlumberger from $63.00 to $64.00 and gave the company a “buy” rating in a research note on Monday, January 22nd. Royal Bank of Canada raised their price target on shares of Schlumberger from $66.00 to $69.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 3rd. Benchmark reaffirmed a “buy” rating and set a $68.00 price objective on shares of Schlumberger in a research note on Wednesday, April 3rd. Barclays decreased their target price on shares of Schlumberger from $74.00 to $70.00 and set an “overweight” rating on the stock in a research note on Thursday, April 4th. Finally, Susquehanna restated a “positive” rating and issued a $77.00 price target on shares of Schlumberger in a research report on Monday, April 8th. One analyst has rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat, Schlumberger presently has a consensus rating of “Moderate Buy” and a consensus target price of $70.31.

Insider Transactions at Schlumberger

In related news, EVP Abdellah Merad sold 50,000 shares of Schlumberger stock in a transaction on Monday, February 26th. The stock was sold at an average price of $48.52, for a total value of $2,426,000.00. Following the completion of the transaction, the executive vice president now directly owns 261,507 shares in the company, valued at $12,688,319.64. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, EVP Abdellah Merad sold 50,000 shares of the business’s stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $48.52, for a total transaction of $2,426,000.00. Following the completion of the transaction, the executive vice president now directly owns 261,507 shares of the company’s stock, valued at $12,688,319.64. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Mogharbel Khaled Al sold 38,570 shares of the firm’s stock in a transaction that occurred on Tuesday, January 23rd. The shares were sold at an average price of $50.42, for a total transaction of $1,944,699.40. Following the completion of the sale, the executive vice president now directly owns 386,841 shares in the company, valued at approximately $19,504,523.22. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 172,191 shares of company stock valued at $8,636,322. 0.26% of the stock is currently owned by company insiders.

Schlumberger Trading Down 2.1 %

SLB stock traded down $1.09 during mid-day trading on Friday, hitting $49.85. 16,841,598 shares of the company were exchanged, compared to its average volume of 8,854,654. Schlumberger Limited has a 12-month low of $42.73 and a 12-month high of $62.12. The firm has a market capitalization of $71.16 billion, a P/E ratio of 17.07, a PEG ratio of 0.97 and a beta of 1.60. The business has a fifty day simple moving average of $51.62 and a 200-day simple moving average of $52.43. The company has a quick ratio of 1.00, a current ratio of 1.32 and a debt-to-equity ratio of 0.51.

Schlumberger (NYSE:SLB) last posted its quarterly earnings data on Friday, April 19th. The oil and gas company reported $0.75 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.75. The firm had revenue of $8.71 billion during the quarter, compared to analysts’ expectations of $8.70 billion. Schlumberger had a net margin of 12.68% and a return on equity of 21.97%. The firm’s quarterly revenue was up 12.6% on a year-over-year basis. During the same quarter last year, the company posted $0.63 EPS. On average, equities research analysts predict that Schlumberger Limited will post 3.51 earnings per share for the current fiscal year.

Schlumberger Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 11th. Shareholders of record on Wednesday, June 5th will be paid a $0.275 dividend. This is an increase from Schlumberger’s previous quarterly dividend of $0.25. This represents a $1.10 annualized dividend and a dividend yield of 2.21%. Schlumberger’s payout ratio is 37.67%.

Schlumberger 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.