Daiwa Securities Group Inc. Grows Stock Position in Schlumberger Limited (NYSE:SLB)

Daiwa Securities Group Inc. boosted its position in shares of Schlumberger Limited (NYSE:SLB) by 10.0% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 155,188 shares of the oil and gas company’s stock after buying an additional 14,094 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Schlumberger were worth $7,322,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Register Financial Advisors LLC purchased a new position in shares of Schlumberger during the 1st quarter worth about $27,000. Bruce G. Allen Investments LLC lifted its stake in Schlumberger by 204.2% in the second quarter. Bruce G. Allen Investments LLC now owns 584 shares of the oil and gas company’s stock worth $28,000 after purchasing an additional 392 shares during the last quarter. Unique Wealth Strategies LLC purchased a new position in shares of Schlumberger during the second quarter valued at approximately $30,000. Manchester Capital Management LLC grew its stake in shares of Schlumberger by 297.9% during the first quarter. Manchester Capital Management LLC now owns 569 shares of the oil and gas company’s stock valued at $31,000 after buying an additional 426 shares during the last quarter. Finally, Riverview Trust Co raised its holdings in shares of Schlumberger by 90.6% in the second quarter. Riverview Trust Co now owns 648 shares of the oil and gas company’s stock worth $31,000 after buying an additional 308 shares during the period. Institutional investors own 81.99% of the company’s stock.

Schlumberger Price Performance

SLB opened at $39.57 on Thursday. The firm has a market capitalization of $56.18 billion, a PE ratio of 13.15, a price-to-earnings-growth ratio of 0.87 and a beta of 1.52. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.49 and a quick ratio of 1.13. The business’s 50-day moving average is $45.17 and its two-hundred day moving average is $47.76. Schlumberger Limited has a 1 year low of $38.66 and a 1 year high of $62.12.

Schlumberger (NYSE:SLB) last issued its quarterly earnings data on Friday, July 19th. The oil and gas company reported $0.85 earnings per share (EPS) for the quarter, topping 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 the consensus estimate of $9.08 billion. During the same quarter in the previous year, the firm earned $0.72 EPS. The company’s quarterly revenue was up 12.8% compared to the same quarter last year. Research analysts anticipate that Schlumberger Limited will post 3.49 earnings per share for the current fiscal year.

Schlumberger Announces Dividend

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

Analysts Set New Price Targets

Several brokerages have commented on SLB. StockNews.com downgraded Schlumberger from a “buy” rating to a “hold” rating in a research report on Thursday, June 6th. Bank of America reduced their price target on shares of Schlumberger from $62.00 to $58.00 and set a “buy” rating on the stock in a research note on Monday, July 15th. Evercore ISI boosted their price objective on shares of Schlumberger from $73.00 to $74.00 and gave the company an “outperform” rating in a research report on Monday, July 22nd. Piper Sandler reduced their target price on shares of Schlumberger from $71.00 to $66.00 and set an “overweight” rating on the stock in a research report on Monday, July 15th. Finally, Benchmark reaffirmed a “buy” rating and set a $68.00 price target on shares of Schlumberger in a research note on Monday, July 22nd. Two research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $67.00.

Insider Transactions at Schlumberger

In other Schlumberger news, EVP Mogharbel Khaled Al sold 120,668 shares of the 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 sale, the executive vice president now directly owns 247,699 shares in the company, valued at $12,432,012.81. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, CFO Stephane Biguet sold 50,048 shares of the business’s stock in a transaction on Monday, July 22nd. The shares were sold at an average price of $49.94, for a total transaction of $2,499,397.12. Following the sale, the chief financial officer now directly owns 203,076 shares of the company’s stock, valued at $10,141,615.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Mogharbel Khaled Al sold 120,668 shares of the company’s stock in a transaction on Monday, July 22nd. The shares were 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 directly owns 247,699 shares in the company, valued at $12,432,012.81. The disclosure for this sale can be found here. Insiders sold 180,716 shares of company stock valued at $9,048,624 in the last quarter. 0.26% of the stock is currently owned by corporate insiders.

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.