American Century Companies Inc. Sells 92,527 Shares of Schlumberger Limited (NYSE:SLB)

American Century Companies Inc. decreased its position in Schlumberger Limited (NYSE:SLB) by 1.4% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 6,356,313 shares of the oil and gas company’s stock after selling 92,527 shares during the quarter. American Century Companies Inc. owned approximately 0.44% of Schlumberger worth $299,891,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. BCM Advisors LLC increased its holdings in shares of Schlumberger by 1.1% during the first quarter. BCM Advisors LLC now owns 18,904 shares of the oil and gas company’s stock valued at $1,036,000 after acquiring an additional 204 shares in the last quarter. Checchi Capital Advisers LLC increased its holdings in shares of Schlumberger by 1.9% during the first quarter. Checchi Capital Advisers LLC now owns 10,808 shares of the oil and gas company’s stock valued at $592,000 after acquiring an additional 204 shares in the last quarter. Financial Advocates Investment Management increased its holdings in shares of Schlumberger by 3.4% during the second quarter. Financial Advocates Investment Management now owns 6,558 shares of the oil and gas company’s stock valued at $309,000 after acquiring an additional 218 shares in the last quarter. Hilltop Holdings Inc. increased its holdings in Schlumberger by 2.1% in the 4th quarter. Hilltop Holdings Inc. now owns 10,761 shares of the oil and gas company’s stock worth $560,000 after buying an additional 219 shares in the last quarter. Finally, Chilton Capital Management LLC increased its holdings in Schlumberger by 0.8% in the 2nd quarter. Chilton Capital Management LLC now owns 26,202 shares of the oil and gas company’s stock worth $1,236,000 after buying an additional 219 shares in the last quarter. Institutional investors own 81.99% of the company’s stock.

Schlumberger Price Performance

SLB opened at $39.57 on Thursday. Schlumberger Limited has a 12-month low of $38.66 and a 12-month high of $62.12. The company has a current ratio of 1.49, a quick ratio of 1.13 and a debt-to-equity ratio of 0.55. The business’s fifty day simple moving average is $45.17 and its 200-day simple moving average is $47.76. The company has a market capitalization of $56.18 billion, a price-to-earnings ratio of 13.15, a PEG ratio of 0.87 and a beta of 1.52.

Schlumberger (NYSE:SLB) last issued its quarterly earnings data on Friday, July 19th. The oil and gas company reported $0.85 earnings per share for the quarter, beating analysts’ consensus estimates of $0.83 by $0.02. Schlumberger had a return on equity of 21.92% and a net margin of 12.56%. The company had revenue of $9.14 billion for the quarter, compared to the consensus estimate of $9.08 billion. During the same quarter last year, the company earned $0.72 earnings per share. The firm’s revenue for the quarter was up 12.8% compared to the same quarter last year. On average, equities research analysts anticipate that Schlumberger Limited will post 3.49 earnings per share for the current fiscal year.

Schlumberger Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 10th. Investors of record on Wednesday, September 4th will be given a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a yield of 2.78%. The ex-dividend date of this dividend is Wednesday, September 4th. Schlumberger’s payout ratio is currently 36.54%.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. Citigroup dropped their target price on Schlumberger from $65.00 to $62.00 and set a “buy” rating on the stock in a research report on Friday, June 28th. Barclays lowered their price objective on Schlumberger from $70.00 to $67.00 and set an “overweight” rating on the stock in a research report on Tuesday, July 23rd. Bank of America lowered their price objective on Schlumberger from $62.00 to $58.00 and set a “buy” rating on the stock in a research report on Monday, July 15th. Benchmark reissued a “buy” rating and set a $68.00 target price on shares of Schlumberger in a research note on Monday, July 22nd. Finally, Piper Sandler decreased their target price on Schlumberger from $71.00 to $66.00 and set an “overweight” rating on the stock in a research note on Monday, July 15th. Two equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $67.00.

Insider Buying and Selling at Schlumberger

In other news, Director Vijay Kasibhatla sold 10,000 shares of the firm’s stock in a transaction dated Monday, July 22nd. The stock was sold at an average price of $49.29, for a total value of $492,900.00. Following the completion of the transaction, the director now directly owns 62,354 shares in the company, valued at $3,073,428.66. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, Director Vijay Kasibhatla sold 10,000 shares of the firm’s stock in a transaction dated Monday, July 22nd. The stock was sold at an average price of $49.29, for a total value of $492,900.00. Following the completion of the transaction, the director now directly owns 62,354 shares in the company, valued at $3,073,428.66. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Mogharbel Khaled Al sold 120,668 shares of the firm’s stock in a transaction dated Monday, July 22nd. The stock was sold at an average price of $50.19, for a total value of $6,056,326.92. Following the completion of the transaction, the executive vice president now owns 247,699 shares of the company’s stock, valued at $12,432,012.81. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 180,716 shares of company stock worth $9,048,624. 0.26% of the stock is owned by insiders.

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.