Candriam S.C.A. Purchases 36,134 Shares of Schlumberger Limited (NYSE:SLB)

Candriam S.C.A. raised its position in Schlumberger Limited (NYSE:SLB) by 4.9% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 779,102 shares of the oil and gas company’s stock after purchasing an additional 36,134 shares during the period. Candriam S.C.A. owned approximately 0.05% of Schlumberger worth $36,756,000 as of its most recent filing with the SEC.

Several other hedge funds also recently bought and sold shares of the company. Register Financial Advisors LLC acquired a new position in shares of Schlumberger in the 1st quarter valued at approximately $27,000. Manchester Capital Management LLC lifted its stake in Schlumberger by 297.9% in the first quarter. Manchester Capital Management LLC now owns 569 shares of the oil and gas company’s stock valued at $31,000 after buying an additional 426 shares in the last quarter. Bruce G. Allen Investments LLC boosted its holdings in shares of Schlumberger by 204.2% in the second quarter. Bruce G. Allen Investments LLC now owns 584 shares of the oil and gas company’s stock valued at $28,000 after buying an additional 392 shares during the period. Transcendent Capital Group LLC bought a new stake in shares of Schlumberger during the fourth quarter worth $32,000. Finally, Unique Wealth Strategies LLC acquired a new stake in shares of Schlumberger during the second quarter worth $30,000. 81.99% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, EVP Mogharbel Khaled Al sold 120,668 shares of the company’s stock in a transaction dated Monday, July 22nd. The shares were sold at an average price of $50.19, for a total value of $6,056,326.92. Following the transaction, the executive vice president now owns 247,699 shares in the company, valued at approximately $12,432,012.81. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, CFO Stephane Biguet sold 50,048 shares of the company’s stock in a transaction dated Monday, July 22nd. The shares were sold at an average price of $49.94, for a total value of $2,499,397.12. Following the transaction, the chief financial officer now directly owns 203,076 shares in the company, valued at $10,141,615.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Mogharbel Khaled Al sold 120,668 shares of Schlumberger stock in a transaction dated 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. Insiders sold a total of 180,716 shares of company stock valued at $9,048,624 over the last ninety days. 0.26% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. TD Cowen upped their target price on shares of Schlumberger from $62.00 to $64.00 and gave the stock a “buy” rating in a research note on Monday, July 22nd. Piper Sandler reduced their price objective on Schlumberger from $71.00 to $66.00 and set an “overweight” rating for the company in a research report on Monday, July 15th. Citigroup dropped their target price on Schlumberger from $65.00 to $62.00 and set a “buy” rating on the stock in a research report on Friday, June 28th. Bank of America cut their target price on Schlumberger from $62.00 to $58.00 and set a “buy” rating on the stock in a research note on Monday, July 15th. Finally, Susquehanna decreased their price target on shares of Schlumberger from $77.00 to $70.00 and set a “positive” rating for the company in a research note on Thursday, July 11th. Two investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Schlumberger presently has an average rating of “Moderate Buy” and a consensus target price of $67.00.

Schlumberger Stock Down 1.5 %

Schlumberger stock opened at $40.62 on Friday. Schlumberger Limited has a fifty-two week low of $40.37 and a fifty-two week high of $62.12. The firm has a market capitalization of $58.06 billion, a PE ratio of 13.50, a P/E/G ratio of 0.94 and a beta of 1.55. The company’s 50-day moving average is $45.59 and its 200-day moving average is $47.96. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.49 and a quick ratio of 1.13.

Schlumberger (NYSE:SLB) last announced its quarterly earnings results on Friday, July 19th. The oil and gas company reported $0.85 earnings per share 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 firm had revenue of $9.14 billion for the quarter, compared to the consensus estimate of $9.08 billion. During the same quarter in the previous year, the business earned $0.72 earnings per share. The business’s revenue was up 12.8% compared to the same quarter last year. Sell-side analysts anticipate that Schlumberger Limited will post 3.49 earnings per share for the current year.

Schlumberger Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 10th. Shareholders of record on Wednesday, September 4th will be issued a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a yield of 2.71%. The ex-dividend date of this dividend is Wednesday, September 4th. Schlumberger’s dividend payout ratio is 36.54%.

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.