Panagora Asset Management Inc. Has $4.24 Million Stock Holdings in Schlumberger Limited (NYSE:SLB)

Panagora Asset Management Inc. lowered its position in Schlumberger Limited (NYSE:SLB) by 29.0% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 89,868 shares of the oil and gas company’s stock after selling 36,748 shares during the quarter. Panagora Asset Management Inc.’s holdings in Schlumberger were worth $4,240,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently made changes to their positions in the company. International Assets Investment Management LLC bought a new stake in Schlumberger during the 4th quarter worth approximately $7,754,000. Silver Oak Securities Incorporated grew its stake in shares of Schlumberger by 122.4% in the fourth quarter. Silver Oak Securities Incorporated now owns 5,857 shares of the oil and gas company’s stock worth $305,000 after purchasing an additional 3,224 shares during the last quarter. Certuity LLC grew its stake in shares of Schlumberger by 49.5% in the fourth quarter. Certuity LLC now owns 6,080 shares of the oil and gas company’s stock worth $316,000 after purchasing an additional 2,013 shares during the last quarter. Great Valley Advisor Group Inc. increased its holdings in Schlumberger by 180.2% in the fourth quarter. Great Valley Advisor Group Inc. now owns 14,916 shares of the oil and gas company’s stock valued at $776,000 after purchasing an additional 9,593 shares during the period. Finally, Summit Financial LLC raised its position in Schlumberger by 4.5% during the 4th quarter. Summit Financial LLC now owns 9,650 shares of the oil and gas company’s stock worth $505,000 after purchasing an additional 419 shares during the last quarter. Institutional investors and hedge funds own 81.99% of the company’s stock.

Insiders Place Their Bets

In other news, insider Bejar Carmen Rando sold 4,980 shares of the firm’s stock in a transaction that occurred on Friday, June 7th. The stock was sold at an average price of $43.43, for a total value of $216,281.40. Following the transaction, the insider now owns 22,518 shares in the company, valued at $977,956.74. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Schlumberger news, insider Bejar Carmen Rando sold 4,980 shares of the firm’s stock in a transaction on Friday, June 7th. The stock was sold at an average price of $43.43, for a total transaction of $216,281.40. Following the transaction, the insider now directly owns 22,518 shares in the company, valued at approximately $977,956.74. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Mogharbel Khaled Al sold 120,668 shares of the company’s stock in a transaction on Monday, July 22nd. The stock was sold at an average price of $50.19, for a total transaction of $6,056,326.92. Following the completion of the sale, the executive vice president now owns 247,699 shares of the company’s stock, valued at approximately $12,432,012.81. The disclosure for this sale can be found here. In the last ninety days, insiders sold 185,696 shares of company stock valued at $9,264,905. Corporate insiders own 0.26% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on SLB. Royal Bank of Canada reissued an “outperform” rating and issued a $69.00 price target on shares of Schlumberger in a research note on Monday, July 22nd. StockNews.com downgraded shares of Schlumberger from a “buy” rating to a “hold” rating in a research report on Thursday, June 6th. TD Cowen boosted their price target on shares of Schlumberger from $62.00 to $64.00 and gave the stock a “buy” rating in a research report on Monday, July 22nd. Bank of America decreased their price objective on shares of Schlumberger from $62.00 to $58.00 and set a “buy” rating for the company in a research report on Monday, July 15th. Finally, Piper Sandler dropped their target price on shares of Schlumberger from $71.00 to $66.00 and set an “overweight” rating on the stock in a report on Monday, July 15th. Two equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $67.00.

Schlumberger Stock Down 0.4 %

Shares of SLB traded down $0.19 during trading hours on Friday, reaching $43.99. The stock had a trading volume of 9,959,538 shares, compared to its average volume of 10,585,655. The firm has a 50-day simple moving average of $46.17 and a 200 day simple moving average of $48.23. Schlumberger Limited has a 12 month low of $42.61 and a 12 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. The company has a market capitalization of $62.88 billion, a price-to-earnings ratio of 14.52, a P/E/G ratio of 0.96 and a beta of 1.55.

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

Schlumberger Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 10th. Shareholders of record on Wednesday, September 4th will be paid a dividend of $0.275 per share. The ex-dividend date is Wednesday, September 4th. This represents a $1.10 dividend on an annualized basis and a yield of 2.50%. Schlumberger’s dividend payout ratio (DPR) is currently 36.54%.

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.