Bruce G. Allen Investments LLC Has $28,000 Stock Holdings in Schlumberger Limited (NYSE:SLB)

Bruce G. Allen Investments LLC raised its stake in Schlumberger Limited (NYSE:SLB) by 204.2% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 584 shares of the oil and gas company’s stock after buying an additional 392 shares during the period. Bruce G. Allen Investments LLC’s holdings in Schlumberger were worth $28,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of SLB. Capital World Investors increased its position in Schlumberger by 72.3% during the 1st quarter. Capital World Investors now owns 88,950,956 shares of the oil and gas company’s stock valued at $4,875,402,000 after purchasing an additional 37,333,485 shares during the period. Norges Bank acquired a new stake in shares of Schlumberger during the fourth quarter worth $1,000,292,000. Price T Rowe Associates Inc. MD raised its stake in Schlumberger by 14.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 85,986,039 shares of the oil and gas company’s stock worth $4,712,897,000 after buying an additional 10,606,191 shares during the last quarter. Winslow Capital Management LLC lifted its holdings in Schlumberger by 123,063.5% in the fourth quarter. Winslow Capital Management LLC now owns 4,347,671 shares of the oil and gas company’s stock valued at $226,253,000 after buying an additional 4,344,141 shares during the period. Finally, Boston Partners boosted its position in Schlumberger by 35.8% during the first quarter. Boston Partners now owns 11,640,827 shares of the oil and gas company’s stock valued at $635,883,000 after acquiring an additional 3,069,395 shares during the last quarter. Institutional investors own 81.99% of the company’s stock.

Schlumberger Trading Down 0.3 %

SLB stock traded down $0.14 on Friday, reaching $43.55. The company’s stock had a trading volume of 5,418,010 shares, compared to its average volume of 10,932,259. The business has a fifty day simple moving average of $46.06 and a two-hundred day simple moving average of $48.70. The firm has a market cap of $61.83 billion, a PE ratio of 14.47, a PEG ratio of 0.92 and a beta of 1.55. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.13 and a current ratio of 1.49. Schlumberger Limited has a 12-month low of $42.61 and a 12-month high of $62.12.

Schlumberger (NYSE:SLB) last announced its earnings results on Friday, July 19th. The oil and gas company reported $0.85 EPS for the quarter, beating analysts’ consensus estimates of $0.83 by $0.02. Schlumberger had a net margin of 12.56% and a return on equity of 21.92%. The firm had revenue of $9.14 billion for the quarter, compared to analysts’ expectations of $9.08 billion. During the same quarter in the previous year, the business posted $0.72 EPS. The company’s quarterly revenue was up 12.8% on a year-over-year basis. As a group, research analysts forecast that Schlumberger Limited will post 3.49 EPS for the current year.

Schlumberger Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 10th. Shareholders of record on Wednesday, September 4th will be issued a $0.275 dividend. The ex-dividend date of this dividend is Wednesday, September 4th. This represents a $1.10 annualized dividend and a yield of 2.53%. Schlumberger’s dividend payout ratio (DPR) is presently 36.54%.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on SLB. Benchmark reiterated a “buy” rating and set a $68.00 target price on shares of Schlumberger in a research report on Monday, July 22nd. TD Cowen upped their price objective on shares of Schlumberger from $62.00 to $64.00 and gave the company a “buy” rating in a report on Monday, July 22nd. Wells Fargo & Company downgraded Schlumberger from an “overweight” rating to an “equal weight” rating and reduced their target price for the company from $68.00 to $53.00 in a research note on Monday, April 29th. Piper Sandler dropped their price target on Schlumberger from $71.00 to $66.00 and set an “overweight” rating on the stock in a research note on Monday, July 15th. Finally, Evercore ISI raised their price objective on Schlumberger from $73.00 to $74.00 and gave the company an “outperform” rating in a research note on Monday, July 22nd. Two analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $67.56.

Insider Transactions at Schlumberger

In other Schlumberger news, insider Bejar Carmen Rando sold 4,980 shares of Schlumberger stock in a transaction on Friday, June 7th. The stock was sold at an average price of $43.43, for a total value of $216,281.40. Following the completion of the sale, the insider now owns 22,518 shares of the company’s stock, valued at approximately $977,956.74. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, insider Bejar Carmen Rando sold 4,980 shares of the company’s stock in a transaction on Friday, June 7th. The stock was sold at an average price of $43.43, for a total value of $216,281.40. Following the completion of the sale, the insider now directly owns 22,518 shares in the company, valued at approximately $977,956.74. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO Demosthenis Pafitis sold 63,095 shares of the firm’s stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $48.26, for a total transaction of $3,044,964.70. Following the sale, the chief technology officer now owns 33,421 shares in the company, valued at approximately $1,612,897.46. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 286,874 shares of company stock worth $14,148,517. Corporate insiders own 0.26% of the company’s stock.

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.