Atomi Financial Group Inc. Increases Stock Position in Schlumberger Limited (NYSE:SLB)

Atomi Financial Group Inc. increased its position in Schlumberger Limited (NYSE:SLB) by 8.6% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 7,847 shares of the oil and gas company’s stock after buying an additional 623 shares during the period. Atomi Financial Group Inc.’s holdings in Schlumberger were worth $370,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in shares of Schlumberger by 1.4% in the 1st quarter. Vanguard Group Inc. now owns 134,150,168 shares of the oil and gas company’s stock worth $7,352,771,000 after purchasing an additional 1,868,688 shares during the period. Capital World Investors raised its holdings in Schlumberger by 72.3% in the first quarter. Capital World Investors now owns 88,950,956 shares of the oil and gas company’s stock valued at $4,875,402,000 after buying an additional 37,333,485 shares during the period. Price T Rowe Associates Inc. MD lifted its position 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 valued at $4,712,897,000 after buying an additional 10,606,191 shares in the last quarter. Norges Bank acquired a new position in Schlumberger during the fourth quarter valued at approximately $1,000,292,000. Finally, Capital International Investors grew its stake in Schlumberger by 0.6% during the fourth quarter. Capital International Investors now owns 14,797,363 shares of the oil and gas company’s stock worth $770,122,000 after buying an additional 89,483 shares during the period. Institutional investors and hedge funds own 81.99% of the company’s stock.

Schlumberger Stock Down 2.7 %

SLB stock traded down $1.21 during mid-day trading on Wednesday, hitting $43.83. 3,027,405 shares of the company were exchanged, compared to its average volume of 10,563,800. The firm has a fifty day simple moving average of $46.17 and a 200 day simple moving average of $48.28. The company has a market capitalization of $62.65 billion, a PE ratio of 14.96, a price-to-earnings-growth ratio of 0.96 and a beta of 1.55. Schlumberger Limited has a twelve month low of $42.61 and a twelve month high of $62.12. The company has a current ratio of 1.49, a quick ratio of 1.13 and a debt-to-equity ratio of 0.55.

Schlumberger (NYSE:SLB) last posted its quarterly earnings results on Friday, July 19th. The oil and gas company reported $0.85 EPS for the quarter, topping analysts’ consensus estimates of $0.83 by $0.02. Schlumberger had a return on equity of 21.92% and a net margin of 12.56%. The business had revenue of $9.14 billion during the quarter, compared to the consensus estimate of $9.08 billion. During the same period last year, the firm earned $0.72 earnings per share. The company’s revenue for the quarter was up 12.8% compared to the same quarter last year. On average, research analysts forecast that Schlumberger Limited will post 3.49 earnings per share for the current fiscal year.

Schlumberger Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 10th. Stockholders of record on Wednesday, September 4th will be issued a $0.275 dividend. The ex-dividend date is Wednesday, September 4th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 2.51%. Schlumberger’s dividend payout ratio (DPR) is 36.54%.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Evercore ISI lifted their target price on shares of Schlumberger from $73.00 to $74.00 and gave the company an “outperform” rating in a report on Monday, July 22nd. Bank of America reduced their price objective on Schlumberger from $62.00 to $58.00 and set a “buy” rating on the stock in a research note on Monday, July 15th. Susquehanna dropped their target price on Schlumberger from $77.00 to $70.00 and set a “positive” rating on the stock in a report on Thursday, July 11th. UBS Group decreased their price target on Schlumberger from $67.00 to $63.00 and set a “buy” rating for the company in a report on Tuesday, August 20th. Finally, Piper Sandler lowered their price objective on shares of Schlumberger from $71.00 to $66.00 and set an “overweight” rating for the company in a research report on Monday, July 15th. Two equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $67.00.

Insider Activity at Schlumberger

In other Schlumberger news, Director Vijay Kasibhatla sold 10,000 shares of Schlumberger stock in a transaction on Monday, July 22nd. The shares were sold at an average price of $49.29, for a total value of $492,900.00. Following the completion of the transaction, the director now owns 62,354 shares of the company’s stock, valued at $3,073,428.66. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Schlumberger news, Director Vijay Kasibhatla sold 10,000 shares of the firm’s stock in a transaction dated Monday, July 22nd. The shares were sold at an average price of $49.29, for a total value of $492,900.00. Following the transaction, the director now owns 62,354 shares of the company’s stock, valued at $3,073,428.66. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Bejar Carmen Rando sold 4,980 shares of the company’s stock in a transaction that occurred on Friday, June 7th. The shares were sold at an average price of $43.43, for a total value of $216,281.40. Following the transaction, the insider now directly owns 22,518 shares of the company’s stock, valued at $977,956.74. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 185,696 shares of company stock valued at $9,264,905. Corporate insiders own 0.26% of the company’s stock.

About Schlumberger

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.