Schlumberger Limited (NYSE:SLB) Shares Bought by Keene & Associates Inc.

Keene & Associates Inc. raised its stake in Schlumberger Limited (NYSE:SLB) by 3.1% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 68,984 shares of the oil and gas company’s stock after buying an additional 2,053 shares during the period. Schlumberger accounts for approximately 2.7% of Keene & Associates Inc.’s investment portfolio, making the stock its 20th largest position. Keene & Associates Inc.’s holdings in Schlumberger were worth $3,255,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of SLB. Register Financial Advisors LLC purchased a new stake in shares of Schlumberger in the first quarter valued at about $27,000. Manchester Capital Management LLC boosted its holdings in Schlumberger by 297.9% in the 1st quarter. Manchester Capital Management LLC now owns 569 shares of the oil and gas company’s stock valued at $31,000 after purchasing an additional 426 shares during the last quarter. Bruce G. Allen Investments LLC grew its stake in shares of Schlumberger by 204.2% in the 2nd quarter. Bruce G. Allen Investments LLC now owns 584 shares of the oil and gas company’s stock valued at $28,000 after buying an additional 392 shares during the period. Transcendent Capital Group LLC acquired a new stake in shares of Schlumberger during the 4th quarter worth approximately $32,000. Finally, Unique Wealth Strategies LLC purchased a new stake in shares of Schlumberger during the 2nd quarter valued at approximately $30,000. 81.99% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Vijay Kasibhatla sold 10,000 shares of the business’s stock in a transaction on Monday, July 22nd. The shares were sold at an average price of $49.29, for a total transaction of $492,900.00. Following the completion of the transaction, the director now owns 62,354 shares in the company, valued at $3,073,428.66. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, EVP Mogharbel Khaled Al sold 120,668 shares of the company’s stock in a transaction that occurred on 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 directly owns 247,699 shares of the company’s stock, valued at $12,432,012.81. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Vijay Kasibhatla sold 10,000 shares of the stock in a transaction that occurred on Monday, July 22nd. The shares were sold at an average price of $49.29, for a total transaction of $492,900.00. Following the completion of the transaction, the director now owns 62,354 shares in the company, valued at $3,073,428.66. The disclosure for this sale can be found here. In the last three months, insiders have sold 180,716 shares of company stock worth $9,048,624. 0.26% of the stock is currently owned by corporate insiders.

Schlumberger Trading Up 0.4 %

NYSE:SLB opened at $39.96 on Monday. The stock has a fifty day moving average price of $44.90 and a 200 day moving average price of $47.63. The company has a current ratio of 1.49, a quick ratio of 1.13 and a debt-to-equity ratio of 0.55. Schlumberger Limited has a 12-month low of $38.66 and a 12-month high of $61.78. The firm has a market cap of $56.74 billion, a PE ratio of 13.28, a price-to-earnings-growth ratio of 0.85 and a beta of 1.51.

Schlumberger (NYSE:SLB) last announced its quarterly earnings data on Friday, July 19th. The oil and gas company reported $0.85 EPS for the quarter, topping 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 business had revenue of $9.14 billion during the quarter, compared to the consensus estimate of $9.08 billion. During the same period in the previous year, the company posted $0.72 earnings per share. The business’s revenue for the quarter was up 12.8% on a year-over-year basis. Sell-side analysts anticipate that Schlumberger Limited will post 3.49 earnings per share for the current fiscal year.

Schlumberger Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 10th. Shareholders of record on Wednesday, September 4th will be given a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a dividend yield of 2.75%. The ex-dividend date of this dividend is Wednesday, September 4th. Schlumberger’s dividend payout ratio is presently 36.54%.

Analysts Set New Price Targets

SLB has been the subject of several recent analyst reports. Susquehanna cut their target price on Schlumberger from $77.00 to $70.00 and set a “positive” rating for the company in a research note on Thursday, July 11th. Benchmark reissued a “buy” rating and set a $68.00 price objective on shares of Schlumberger in a research report on Monday, July 22nd. Citigroup decreased their target price on shares of 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 target price on shares of Schlumberger from $70.00 to $67.00 and set an “overweight” rating for the company in a research note on Tuesday, July 23rd. Finally, Piper Sandler reduced their price target on shares of Schlumberger from $71.00 to $66.00 and set an “overweight” rating on the stock in a research note on Monday, July 15th. Two investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $67.00.

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.