Schlumberger Limited $SLB Shares Bought by Union Bancaire Privee UBP SA

Union Bancaire Privee UBP SA grew its stake in shares of Schlumberger Limited (NYSE:SLB) by 88.2% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,766 shares of the oil and gas company’s stock after acquiring an additional 3,170 shares during the quarter. Union Bancaire Privee UBP SA’s holdings in Schlumberger were worth $229,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of SLB. Brighton Jones LLC grew its holdings in shares of Schlumberger by 21.4% during the 4th quarter. Brighton Jones LLC now owns 6,611 shares of the oil and gas company’s stock worth $253,000 after purchasing an additional 1,166 shares during the period. Bison Wealth LLC acquired a new position in shares of Schlumberger in the 4th quarter valued at approximately $238,000. GAMMA Investing LLC raised its position in shares of Schlumberger by 5,982.4% in the 1st quarter. GAMMA Investing LLC now owns 905,848 shares of the oil and gas company’s stock valued at $37,864,000 after purchasing an additional 890,955 shares in the last quarter. NBC Securities Inc. raised its position in shares of Schlumberger by 182,500.0% in the 1st quarter. NBC Securities Inc. now owns 12,782 shares of the oil and gas company’s stock valued at $534,000 after purchasing an additional 12,775 shares in the last quarter. Finally, Merit Financial Group LLC raised its position in shares of Schlumberger by 132.3% in the 1st quarter. Merit Financial Group LLC now owns 34,132 shares of the oil and gas company’s stock valued at $1,427,000 after purchasing an additional 19,438 shares in the last quarter. Institutional investors and hedge funds own 81.99% of the company’s stock.

Insiders Place Their Bets

In other Schlumberger news, insider Dianne B. Ralston sold 39,727 shares of the stock in a transaction on Friday, September 12th. The stock was sold at an average price of $36.08, for a total value of $1,433,350.16. Following the sale, the insider directly owned 202,201 shares of the company’s stock, valued at $7,295,412.08. This trade represents a 16.42% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.22% of the stock is owned by corporate insiders.

Schlumberger Stock Performance

SLB stock opened at $35.07 on Thursday. 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 firm has a market cap of $52.38 billion, a P/E ratio of 12.01, a P/E/G ratio of 9.54 and a beta of 0.97. Schlumberger Limited has a 12-month low of $31.11 and a 12-month high of $46.15. The stock’s 50 day simple moving average is $34.68 and its 200 day simple moving average is $35.28.

Schlumberger (NYSE:SLB) last posted its quarterly earnings results on Friday, July 18th. The oil and gas company reported $0.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.73 by $0.01. Schlumberger had a return on equity of 20.99% and a net margin of 11.53%.The business had revenue of $8.55 billion for the quarter, compared to analyst estimates of $8.51 billion. During the same period in the prior year, the company posted $0.85 EPS. The business’s revenue was down 6.5% compared to the same quarter last year. As a group, equities research analysts predict that Schlumberger Limited will post 3.38 EPS for the current year.

Schlumberger Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 9th. Shareholders of record on Wednesday, September 3rd will be given a $0.285 dividend. The ex-dividend date of this dividend is Wednesday, September 3rd. This represents a $1.14 annualized dividend and a yield of 3.3%. Schlumberger’s dividend payout ratio (DPR) is currently 39.04%.

Analyst Ratings Changes

A number of brokerages have issued reports on SLB. Zacks Research raised Schlumberger from a “strong sell” rating to a “hold” rating in a research report on Monday, September 15th. JPMorgan Chase & Co. cut their target price on Schlumberger from $46.00 to $44.00 and set an “overweight” rating on the stock in a research report on Monday, June 30th. Atb Cap Markets raised Schlumberger from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, July 1st. Stifel Nicolaus dropped their price target on Schlumberger from $54.00 to $52.00 and set a “buy” rating on the stock in a research report on Wednesday, July 16th. Finally, Piper Sandler dropped their price target on Schlumberger from $44.00 to $42.00 and set a “neutral” rating on the stock in a research report on Friday, July 18th. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $52.18.

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.