Allspring Global Investments Holdings LLC Has $33.16 Million Position in Schlumberger Limited $SLB

Allspring Global Investments Holdings LLC lowered its position in Schlumberger Limited (NYSE:SLB) by 0.4% in the second quarter, HoldingsChannel.com reports. The fund owned 942,167 shares of the oil and gas company’s stock after selling 3,741 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Schlumberger were worth $33,164,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently added to or reduced their stakes in SLB. Charles Schwab Investment Management Inc. lifted its stake in Schlumberger by 478.8% in 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 acquiring an additional 39,474,501 shares during the last quarter. Boston Partners lifted its stake in Schlumberger by 27.7% in 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 acquiring an additional 4,300,222 shares during the last quarter. Hotchkis & Wiley Capital Management LLC lifted its stake in Schlumberger by 211.1% in 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 acquiring an additional 4,066,500 shares during the last quarter. Nuveen LLC acquired a new stake in shares of Schlumberger during the 1st quarter worth about $169,232,000. Finally, Banque Transatlantique SA lifted its stake in shares of Schlumberger by 21,737.8% during 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 buying an additional 1,850,760 shares during the last quarter. Institutional investors and hedge funds own 81.99% of the company’s stock.

Schlumberger Price Performance

NYSE:SLB opened at $32.55 on Thursday. Schlumberger Limited has a 52 week low of $31.11 and a 52 week high of $44.97. The firm has a market cap of $48.62 billion, a price-to-earnings ratio of 11.15, a P/E/G ratio of 9.06 and a beta of 0.97. The firm’s 50-day simple moving average is $34.49 and its 200 day simple moving average is $34.71. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.98 and a current ratio of 1.31.

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

Insider Buying and Selling

In other Schlumberger news, insider Dianne B. Ralston sold 39,727 shares of the firm’s stock in a transaction dated Friday, September 12th. The shares were sold at an average price of $36.08, for a total value of $1,433,350.16. Following the transaction, 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.22% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

SLB has been the subject of a number of research reports. Atb Cap Markets upgraded shares of Schlumberger from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, July 1st. Zacks Research upgraded shares of Schlumberger from a “strong sell” rating to a “hold” rating in a research note on Monday, September 15th. Stifel Nicolaus cut their target price on shares of Schlumberger from $54.00 to $52.00 and set a “buy” rating for the company in a research note on Wednesday, July 16th. JPMorgan Chase & Co. cut their target price on shares of Schlumberger from $46.00 to $44.00 and set an “overweight” rating for the company in a research note on Monday, June 30th. Finally, Jefferies Financial Group cut their target price on shares of Schlumberger from $54.00 to $53.00 and set a “buy” rating for the company in a research note on Thursday, June 26th. Two analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $52.06.

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.