Atlantic Union Bankshares Corp reduced its stake in shares of Schlumberger Limited. (NYSE:SLB) by 3.6% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 34,769 shares of the oil and gas company’s stock after selling 1,300 shares during the quarter. Atlantic Union Bankshares Corp’s holdings in Schlumberger were worth $1,188,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently modified their holdings of SLB. Sepio Capital LLC increased its stake in Schlumberger by 226.1% during the first quarter. Sepio Capital LLC now owns 103,617 shares of the oil and gas company’s stock worth $4,548,000 after acquiring an additional 71,842 shares during the last quarter. Neville Rodie & Shaw Inc. boosted its position in shares of Schlumberger by 2.5% during the second quarter. Neville Rodie & Shaw Inc. now owns 96,052 shares of the oil and gas company’s stock valued at $3,817,000 after buying an additional 2,300 shares during the period. Boltwood Capital Management boosted its position in shares of Schlumberger by 15.5% during the second quarter. Boltwood Capital Management now owns 9,304 shares of the oil and gas company’s stock valued at $370,000 after buying an additional 1,250 shares during the period. Park National Corp OH boosted its position in shares of Schlumberger by 3.8% during the second quarter. Park National Corp OH now owns 171,587 shares of the oil and gas company’s stock valued at $6,818,000 after buying an additional 6,298 shares during the period. Finally, Woodstock Corp boosted its position in shares of Schlumberger by 0.6% during the second quarter. Woodstock Corp now owns 125,840 shares of the oil and gas company’s stock valued at $5,001,000 after buying an additional 725 shares during the period. 76.52% of the stock is currently owned by institutional investors.
Shares of NYSE SLB traded up $0.26 during trading hours on Friday, reaching $36.34. The stock had a trading volume of 8,211,488 shares, compared to its average volume of 10,844,604. The company has a current ratio of 1.29, a quick ratio of 0.95 and a debt-to-equity ratio of 0.67. The firm has a market cap of $50.83 billion, a price-to-earnings ratio of 22.43, a P/E/G ratio of 3.45 and a beta of 1.49. The business’s fifty day moving average price is $33.95 and its two-hundred day moving average price is $36.68. Schlumberger Limited. has a 52-week low of $30.65 and a 52-week high of $51.29.
Schlumberger (NYSE:SLB) last announced its quarterly earnings results on Friday, October 18th. The oil and gas company reported $0.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.40 by $0.03. The firm had revenue of $8.54 billion during the quarter, compared to analyst estimates of $8.50 billion. Schlumberger had a positive return on equity of 6.00% and a negative net margin of 30.22%. Schlumberger’s quarterly revenue was up .4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.46 earnings per share. Equities research analysts anticipate that Schlumberger Limited. will post 1.47 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, January 10th. Shareholders of record on Wednesday, December 4th will be issued a dividend of $0.50 per share. The ex-dividend date of this dividend is Tuesday, December 3rd. This represents a $2.00 dividend on an annualized basis and a yield of 5.50%. Schlumberger’s dividend payout ratio is currently 123.46%.
Several research analysts have issued reports on SLB shares. Royal Bank of Canada set a $40.00 target price on Schlumberger and gave the company a “buy” rating in a research report on Monday, October 21st. TheStreet lowered Schlumberger from a “c” rating to a “d+” rating in a research report on Friday, October 18th. Cowen dropped their target price on Schlumberger from $47.00 to $45.00 and set an “outperform” rating for the company in a research report on Monday, October 21st. JPMorgan Chase & Co. dropped their target price on Schlumberger from $41.00 to $34.00 and set a “neutral” rating for the company in a research report on Monday, September 9th. Finally, Barclays set a $47.00 target price on Schlumberger and gave the company a “buy” rating in a research report on Friday, October 18th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and fourteen have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $44.82.
In other Schlumberger news, VP Simon Farrant sold 5,000 shares of the company’s stock in a transaction on Monday, October 21st. The stock was sold at an average price of $33.55, for a total transaction of $167,750.00. Following the completion of the sale, the vice president now owns 20,316 shares in the company, valued at $681,601.80. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 0.48% of the stock is owned by corporate insiders.
Schlumberger Limited supplies technology for reservoir characterization, drilling, production, and processing to the oil and gas industry worldwide. The company's Reservoir Characterization segment offers reservoir interpretation and data processing services; open and cased-hole, and slickline services; exploration and production pressure and flow-rate measurement services; tubing-conveyed perforating services; integrated production systems; software, consulting, information management, and IT infrastructure services; reservoir characterization, field development planning, and production enhancement consulting services; petro technical data services and training solutions; and integrated management services.
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