Ninety One UK Ltd Has $15.03 Million Stock Position in Schlumberger Limited $SLB

Ninety One UK Ltd raised its stake in shares of Schlumberger Limited (NYSE:SLB) by 24.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 444,537 shares of the oil and gas company’s stock after purchasing an additional 87,770 shares during the quarter. Ninety One UK Ltd’s holdings in Schlumberger were worth $15,025,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in SLB. Charles Schwab Investment Management Inc. boosted its holdings in Schlumberger by 478.8% during the first quarter. Charles Schwab Investment Management Inc. now owns 47,719,476 shares of the oil and gas company’s stock valued at $1,994,674,000 after purchasing an additional 39,474,501 shares in the last quarter. Boston Partners boosted its holdings in Schlumberger by 27.7% during the first quarter. Boston Partners now owns 19,829,381 shares of the oil and gas company’s stock valued at $824,160,000 after purchasing an additional 4,300,222 shares in the last quarter. Hotchkis & Wiley Capital Management LLC boosted its holdings in Schlumberger by 211.1% during the first quarter. Hotchkis & Wiley Capital Management LLC now owns 5,992,997 shares of the oil and gas company’s stock valued at $250,507,000 after purchasing an additional 4,066,500 shares in the last quarter. Nuveen LLC acquired a new stake in Schlumberger during the first quarter valued at approximately $169,232,000. Finally, Banque Transatlantique SA boosted its holdings in shares of Schlumberger by 21,737.8% in the 1st quarter. Banque Transatlantique SA now owns 1,859,274 shares of the oil and gas company’s stock worth $71,821,000 after acquiring an additional 1,850,760 shares in the last quarter. 81.99% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Zacks Research raised Schlumberger from a “strong sell” rating to a “hold” rating in a report on Monday, September 15th. Susquehanna reduced their target price on Schlumberger from $44.00 to $42.00 and set a “positive” rating on the stock in a report on Monday, July 21st. Wells Fargo & Company downgraded Schlumberger from a “strong-buy” rating to a “hold” rating in a report on Sunday, July 20th. UBS Group reduced their target price on Schlumberger from $45.00 to $44.00 and set a “buy” rating on the stock in a report on Wednesday, August 20th. Finally, JPMorgan Chase & Co. reduced their target price on Schlumberger from $46.00 to $44.00 and set an “overweight” rating on the stock in a report on Monday, June 30th. Two research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $52.18.

Insider Activity at Schlumberger

In other Schlumberger news, insider Dianne B. Ralston sold 39,727 shares of the company’s stock in a transaction on Friday, September 12th. The shares were sold at an average price of $36.08, for a total transaction of $1,433,350.16. Following the completion of the sale, the insider owned 202,201 shares in the company, valued at approximately $7,295,412.08. The trade was a 16.42% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.22% of the company’s stock.

Schlumberger Stock Up 2.0%

NYSE:SLB opened at $35.07 on Thursday. The stock’s fifty day moving average price is $34.68 and its two-hundred day moving average price is $35.28. Schlumberger Limited has a 52-week low of $31.11 and a 52-week high of $46.15. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.98 and a current ratio of 1.31. The company has a market cap of $52.38 billion, a price-to-earnings ratio of 12.01, a P/E/G ratio of 9.54 and a beta of 0.97.

Schlumberger (NYSE:SLB) last posted its quarterly earnings data on Friday, July 18th. The oil and gas company reported $0.74 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $8.55 billion for the quarter, compared to the consensus estimate of $8.51 billion. During the same quarter in the prior year, the business earned $0.85 EPS. The business’s revenue for the quarter was down 6.5% compared to the same quarter last year. On average, analysts anticipate that Schlumberger Limited will post 3.38 EPS for the current year.

Schlumberger Dividend Announcement

The firm 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 dividend of $0.285 per share. The ex-dividend date is Wednesday, September 3rd. This represents a $1.14 annualized dividend and a dividend yield of 3.3%. Schlumberger’s payout ratio 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.