AMF Tjanstepension AB Sells 367,814 Shares of Schlumberger Limited $SLB

AMF Tjanstepension AB cut its holdings in Schlumberger Limited (NYSE:SLB) by 28.9% in the second quarter, Holdings Channel reports. The fund owned 904,153 shares of the oil and gas company’s stock after selling 367,814 shares during the quarter. AMF Tjanstepension AB’s holdings in Schlumberger were worth $30,670,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in SLB. Nuveen LLC bought a new position in shares of Schlumberger during the first quarter valued at approximately $169,232,000. Scharf Investments LLC raised its stake in Schlumberger by 20.5% in the first quarter. Scharf Investments LLC now owns 1,653,895 shares of the oil and gas company’s stock worth $69,133,000 after buying an additional 281,773 shares in the last quarter. Integrated Advisors Network LLC lifted its holdings in Schlumberger by 810.4% during the first quarter. Integrated Advisors Network LLC now owns 75,163 shares of the oil and gas company’s stock worth $3,142,000 after buying an additional 66,907 shares during the period. Alan B Lancz & Associates Inc. bought a new stake in Schlumberger during the 1st quarter valued at $308,000. Finally, Stratos Investment Management LLC boosted its position in Schlumberger by 236.0% during the 1st quarter. Stratos Investment Management LLC now owns 146,908 shares of the oil and gas company’s stock valued at $6,141,000 after acquiring an additional 103,182 shares in the last quarter. Hedge funds and other institutional investors own 81.99% of the company’s stock.

Schlumberger Stock Up 0.4%

SLB stock opened at $34.26 on Friday. The stock has a market capitalization of $51.17 billion, a PE ratio of 11.73, a price-to-earnings-growth ratio of 9.47 and a beta of 0.97. Schlumberger Limited has a 52 week low of $31.11 and a 52 week high of $46.15. The company has a quick ratio of 0.98, a current ratio of 1.31 and a debt-to-equity ratio of 0.51. The firm has a 50 day moving average of $34.63 and a 200 day moving average of $35.19.

Schlumberger (NYSE:SLB) last issued its quarterly earnings results on Friday, July 18th. The oil and gas company reported $0.74 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.73 by $0.01. Schlumberger had a net margin of 11.53% and a return on equity of 20.99%. The business had revenue of $8.55 billion for the quarter, compared to analyst estimates of $8.51 billion. During the same quarter in the prior year, the business posted $0.85 EPS. Schlumberger’s revenue for the quarter was down 6.5% compared to the same quarter last year. Sell-side analysts forecast that Schlumberger Limited will post 3.38 earnings per share for the current year.

Schlumberger Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 9th. Shareholders of record on Wednesday, September 3rd will be given a dividend of $0.285 per share. The ex-dividend date of this dividend is Wednesday, September 3rd. This represents a $1.14 dividend on an annualized basis and a yield of 3.3%. Schlumberger’s payout ratio is currently 39.04%.

Insider Buying and Selling

In other Schlumberger news, insider Dianne B. Ralston sold 39,727 shares of the business’s stock in a transaction dated Friday, September 12th. The stock was sold at an average price of $36.08, for a total transaction of $1,433,350.16. Following the sale, the insider owned 202,201 shares in the company, valued at approximately $7,295,412.08. The trade was a 16.42% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.22% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on SLB shares. Wells Fargo & Company lowered Schlumberger from a “strong-buy” rating to a “hold” rating in a research report on Sunday, July 20th. Melius Research initiated coverage on Schlumberger in a research note on Wednesday, August 20th. They issued a “buy” rating and a $82.00 target price on the stock. Piper Sandler decreased their price target on shares of Schlumberger from $44.00 to $42.00 and set a “neutral” rating for the company in a research report on Friday, July 18th. Barclays lowered their price target on shares of Schlumberger from $47.00 to $46.00 and set an “overweight” rating on the stock in a report on Monday, July 21st. Finally, Melius initiated coverage on shares of Schlumberger in a research note on Wednesday, August 20th. They set a “buy” rating and a $82.00 price objective for the company. Two analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, Schlumberger currently has an average rating of “Moderate Buy” and a consensus target price of $52.18.

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.