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

Allspring Global Investments Holdings LLC reduced its holdings in Schlumberger Limited (NYSE:SLB) by 0.4% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 942,167 shares of the oil and gas company’s stock after selling 3,741 shares during the period. Allspring Global Investments Holdings LLC owned approximately 0.07% of Schlumberger worth $33,164,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. First Command Advisory Services Inc. lifted its holdings in Schlumberger by 300.0% in the first quarter. First Command Advisory Services Inc. now owns 636 shares of the oil and gas company’s stock valued at $27,000 after buying an additional 477 shares during the period. Atlas Capital Advisors Inc. bought a new stake in Schlumberger in the first quarter valued at approximately $33,000. Alpine Bank Wealth Management bought a new stake in Schlumberger in the first quarter valued at approximately $34,000. Atticus Wealth Management LLC bought a new stake in Schlumberger in the second quarter valued at approximately $29,000. Finally, Park Square Financial Group LLC bought a new stake in Schlumberger in the first quarter valued at approximately $38,000. 81.99% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

SLB has been the subject of several recent analyst reports. Jefferies Financial Group lowered 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. Barclays lowered their target price on shares of Schlumberger from $47.00 to $46.00 and set an “overweight” rating for the company in a research note on Monday, July 21st. Melius Research initiated coverage on shares of Schlumberger in a research note on Wednesday, August 20th. They issued a “buy” rating and a $82.00 target price for the company. Stifel Nicolaus lowered 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. Finally, Zacks Research raised shares of Schlumberger from a “strong sell” rating to a “hold” rating in a research report on Monday, September 15th. Two research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $52.06.

Insiders Place Their Bets

In related news, insider Dianne B. Ralston sold 39,727 shares of the firm’s stock in a transaction on 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 completion of the transaction, the insider owned 202,201 shares of the company’s stock, valued at approximately $7,295,412.08. This trade represents a 16.42% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.22% of the company’s stock.

Schlumberger Stock Down 0.0%

Shares of SLB stock opened at $32.55 on Thursday. The firm has a fifty day moving average of $34.49 and a 200-day moving average of $34.71. The company has a quick ratio of 0.98, a current ratio of 1.31 and a debt-to-equity ratio of 0.51. Schlumberger Limited has a 12-month low of $31.11 and a 12-month high of $44.97. The company has a market capitalization 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.

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

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.