Schlumberger Limited $SLB Shares Acquired by AEGON ASSET MANAGEMENT UK Plc

AEGON ASSET MANAGEMENT UK Plc lifted its holdings in shares of Schlumberger Limited (NYSE:SLB) by 47.8% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,063,633 shares of the oil and gas company’s stock after acquiring an additional 343,906 shares during the period. AEGON ASSET MANAGEMENT UK Plc’s holdings in Schlumberger were worth $35,919,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. EntryPoint Capital LLC raised its position in shares of Schlumberger by 4.5% during the 1st quarter. EntryPoint Capital LLC now owns 7,348 shares of the oil and gas company’s stock worth $307,000 after acquiring an additional 316 shares in the last quarter. Heritage Wealth Management Inc. Texas grew its stake in Schlumberger by 2.2% during the 1st quarter. Heritage Wealth Management Inc. Texas now owns 14,736 shares of the oil and gas company’s stock worth $616,000 after buying an additional 318 shares during the last quarter. Horizon Investments LLC grew its stake in Schlumberger by 1.5% during the 1st quarter. Horizon Investments LLC now owns 22,633 shares of the oil and gas company’s stock worth $946,000 after buying an additional 330 shares during the last quarter. CreativeOne Wealth LLC grew its stake in Schlumberger by 6.3% during the 1st quarter. CreativeOne Wealth LLC now owns 5,655 shares of the oil and gas company’s stock worth $236,000 after buying an additional 335 shares during the last quarter. Finally, Forza Wealth Management LLC grew its stake in Schlumberger by 5.8% during the 1st quarter. Forza Wealth Management LLC now owns 6,374 shares of the oil and gas company’s stock worth $266,000 after buying an additional 350 shares during the last quarter. Institutional investors and hedge funds own 81.99% of the company’s stock.

Insider Transactions at Schlumberger

In related news, insider Dianne B. Ralston sold 39,727 shares of Schlumberger stock in a transaction on Friday, September 12th. The stock was sold at an average price of $36.08, for a total transaction of $1,433,350.16. Following the completion of the transaction, the insider directly owned 202,201 shares of the company’s stock, valued at approximately $7,295,412.08. The trade was a 16.42% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Corporate insiders own 0.22% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Jefferies Financial Group dropped their price target on Schlumberger from $54.00 to $53.00 and set a “buy” rating on the stock in a research note on Thursday, June 26th. Barclays dropped their price target on Schlumberger from $47.00 to $46.00 and set an “overweight” rating on the stock in a research note on Monday, July 21st. Wells Fargo & Company downgraded Schlumberger from a “strong-buy” rating to a “hold” rating in a research note on Sunday, July 20th. JPMorgan Chase & Co. dropped their price target on Schlumberger from $46.00 to $44.00 and set an “overweight” rating on the stock in a research note on Monday, June 30th. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of Schlumberger in a research note on Wednesday, October 8th. Two research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat, Schlumberger currently has an average rating of “Moderate Buy” and a consensus target price of $52.06.

Schlumberger Stock Up 0.9%

Schlumberger stock opened at $32.55 on Wednesday. The stock’s 50 day moving average price is $34.50 and its 200 day moving average price is $34.73. The company has a market cap of $48.62 billion, a PE ratio of 11.15, a price-to-earnings-growth ratio of 8.97 and a beta of 0.97. Schlumberger Limited has a 1-year low of $31.11 and a 1-year high of $44.97. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.31 and a quick ratio of 0.98.

Schlumberger (NYSE:SLB) last issued 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. The firm had revenue of $8.55 billion during the quarter, compared to analysts’ expectations of $8.51 billion. Schlumberger had a return on equity of 20.99% and a net margin of 11.53%.Schlumberger’s revenue was down 6.5% on a year-over-year basis. During the same period in the previous year, the firm posted $0.85 earnings per share. On average, sell-side analysts predict that Schlumberger Limited will post 3.38 EPS for the current fiscal year.

Schlumberger Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 9th. Investors of record on Wednesday, September 3rd were issued a dividend of $0.285 per share. The ex-dividend date of this dividend was Wednesday, September 3rd. This represents a $1.14 annualized dividend and a yield of 3.5%. Schlumberger’s payout ratio is currently 39.04%.

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.