AMF Tjanstepension AB Sells 66,409 Shares of Schlumberger Limited (NYSE:SLB)

AMF Tjanstepension AB trimmed its stake in shares of Schlumberger Limited (NYSE:SLB) by 5.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,271,967 shares of the oil and gas company’s stock after selling 66,409 shares during the quarter. AMF Tjanstepension AB’s holdings in Schlumberger were worth $53,239,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. First Command Advisory Services Inc. boosted its position in Schlumberger by 300.0% during the first quarter. First Command Advisory Services Inc. now owns 636 shares of the oil and gas company’s stock worth $27,000 after purchasing an additional 477 shares during the period. Alpine Bank Wealth Management bought a new position in Schlumberger during the first quarter worth $34,000. Park Square Financial Group LLC bought a new position in Schlumberger during the first quarter worth $38,000. N.E.W. Advisory Services LLC bought a new position in Schlumberger during the first quarter worth $40,000. Finally, Sound Income Strategies LLC boosted its position in Schlumberger by 265.4% during the first quarter. Sound Income Strategies LLC now owns 961 shares of the oil and gas company’s stock worth $40,000 after purchasing an additional 698 shares during the period. 81.99% of the stock is owned by institutional investors.

Schlumberger Stock Down 0.3%

Shares of NYSE SLB opened at $32.76 on Friday. The company has a current ratio of 1.31, a quick ratio of 0.98 and a debt-to-equity ratio of 0.51. The company has a market cap of $44.27 billion, a price-to-earnings ratio of 11.22, a PEG ratio of 9.12 and a beta of 1.03. Schlumberger Limited has a 12 month low of $31.11 and a 12 month high of $46.16. The stock has a 50-day moving average price of $34.72 and a two-hundred day moving average price of $36.98.

Schlumberger (NYSE:SLB) last issued its earnings results on Friday, July 18th. The oil and gas company reported $0.74 EPS for the quarter, topping the consensus estimate of $0.73 by $0.01. The firm had revenue of $8.55 billion during the quarter, compared to the consensus estimate of $8.51 billion. Schlumberger had a return on equity of 20.99% and a net margin of 11.53%. The business’s quarterly revenue was down 6.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.85 earnings per share. As a group, analysts forecast that Schlumberger Limited will post 3.38 earnings per share for the current fiscal year.

Schlumberger Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 9th. Shareholders of record on Wednesday, September 3rd will be paid a dividend of $0.285 per share. The ex-dividend date of this dividend is Wednesday, September 3rd. This represents a $1.14 annualized dividend and a yield of 3.5%. Schlumberger’s payout ratio is presently 39.04%.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. UBS Group lifted their target price on Schlumberger from $44.00 to $45.00 and gave the stock a “buy” rating in a report on Wednesday, July 2nd. Barclays dropped their target price on Schlumberger from $47.00 to $46.00 and set an “overweight” rating for the company in a report on Monday, July 21st. Stifel Nicolaus dropped their target price on Schlumberger from $54.00 to $52.00 and set a “buy” rating for the company in a report on Wednesday, July 16th. Piper Sandler dropped their target price on Schlumberger from $44.00 to $42.00 and set a “neutral” rating for the company in a report on Friday, July 18th. Finally, Susquehanna dropped their target price on Schlumberger from $44.00 to $42.00 and set a “positive” rating for the company in a report on Monday, July 21st. Four research analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $49.28.

Insider Buying and Selling

In other Schlumberger news, Director La Chevardiere Patrick De sold 5,000 shares of the business’s stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $33.58, for a total transaction of $167,900.00. Following the completion of the transaction, the director owned 23,525 shares of the company’s stock, valued at approximately $789,969.50. The trade was a 17.53% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.26% of the company’s stock.

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.