Schlumberger Limited (NYSE:SLB) Stock Holdings Increased by Mitsubishi UFJ Asset Management UK Ltd.

Mitsubishi UFJ Asset Management UK Ltd. lifted its stake in Schlumberger Limited (NYSE:SLB) by 100.0% in the first quarter, Holdings Channel.com reports. The firm owned 26,000 shares of the oil and gas company’s stock after acquiring an additional 13,000 shares during the quarter. Mitsubishi UFJ Asset Management UK Ltd.’s holdings in Schlumberger were worth $1,087,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Scharf Investments LLC increased its holdings in Schlumberger by 20.5% in the first quarter. Scharf Investments LLC now owns 1,653,895 shares of the oil and gas company’s stock worth $69,133,000 after buying an additional 281,773 shares during the last quarter. Integrated Advisors Network LLC increased its holdings in Schlumberger by 810.4% in the first quarter. Integrated Advisors Network LLC now owns 75,163 shares of the oil and gas company’s stock worth $3,142,000 after buying an additional 66,907 shares during the last quarter. Alan B Lancz & Associates Inc. acquired a new position in Schlumberger during the first quarter valued at approximately $308,000. Stratos Investment Management LLC grew its holdings in Schlumberger by 236.0% during the first quarter. Stratos Investment Management LLC now owns 146,908 shares of the oil and gas company’s stock valued at $6,141,000 after purchasing an additional 103,182 shares during the last quarter. Finally, Nuveen LLC acquired a new position in Schlumberger during the first quarter valued at approximately $169,232,000. 81.99% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the company. Piper Sandler lowered their price target on Schlumberger from $44.00 to $42.00 and set a “neutral” rating on the stock in a report on Friday, July 18th. Atb Cap Markets upgraded Schlumberger from a “hold” rating to a “strong-buy” rating in a report on Tuesday, July 1st. Morgan Stanley lowered their price target on Schlumberger from $50.00 to $45.00 and set an “overweight” rating on the stock in a report on Friday, May 16th. JPMorgan Chase & Co. lowered their price target on Schlumberger from $46.00 to $44.00 and set an “overweight” rating on the stock in a report on Monday, June 30th. Finally, Jefferies Financial Group lowered their price target on Schlumberger from $54.00 to $53.00 and set a “buy” rating on the stock in a report on Thursday, June 26th. Four 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 company. Based on data from MarketBeat.com, Schlumberger has an average rating of “Moderate Buy” and a consensus price target of $49.28.

Insider Buying and Selling

In other 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 directly owned 23,525 shares in the company, valued at approximately $789,969.50. The trade was a 17.53% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.26% of the stock is currently owned by insiders.

Schlumberger Stock Up 1.8%

Shares of SLB stock opened at $33.54 on Thursday. The stock has a market cap of $45.32 billion, a P/E ratio of 11.49, a price-to-earnings-growth ratio of 9.14 and a beta of 1.03. Schlumberger Limited has a one year low of $31.11 and a one year high of $46.16. The stock has a fifty day moving average price of $34.68 and a 200 day moving average price of $36.72. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.31 and a quick ratio of 0.98.

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

Schlumberger Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 9th. Investors of record on Wednesday, September 3rd will be given a $0.285 dividend. This represents a $1.14 dividend on an annualized basis and a yield of 3.4%. The ex-dividend date is Wednesday, September 3rd. Schlumberger’s dividend payout ratio (DPR) is presently 39.04%.

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.