Oslo Asset Management AS Makes New Investment in Schlumberger Limited (NYSE:SLB)

Oslo Asset Management AS purchased a new stake in shares of Schlumberger Limited (NYSE:SLB) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 156,800 shares of the oil and gas company’s stock, valued at approximately $7,398,000. Schlumberger makes up approximately 8.6% of Oslo Asset Management AS’s portfolio, making the stock its 7th biggest position.

Several other institutional investors also recently modified their holdings of the business. Vanguard Group Inc. raised its stake in shares of Schlumberger by 1.4% in the first quarter. Vanguard Group Inc. now owns 134,150,168 shares of the oil and gas company’s stock worth $7,352,771,000 after buying an additional 1,868,688 shares during the period. Capital World Investors boosted its holdings in shares of Schlumberger by 72.3% in the 1st quarter. Capital World Investors now owns 88,950,956 shares of the oil and gas company’s stock worth $4,875,402,000 after purchasing an additional 37,333,485 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in shares of Schlumberger by 14.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 85,986,039 shares of the oil and gas company’s stock worth $4,712,897,000 after purchasing an additional 10,606,191 shares during the period. Capital International Investors boosted its holdings in Schlumberger by 0.6% during the 4th quarter. Capital International Investors now owns 14,797,363 shares of the oil and gas company’s stock valued at $770,122,000 after acquiring an additional 89,483 shares during the period. Finally, Boston Partners boosted its holdings in Schlumberger by 35.8% during the 1st quarter. Boston Partners now owns 11,640,827 shares of the oil and gas company’s stock valued at $635,883,000 after acquiring an additional 3,069,395 shares during the period. 81.99% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Vijay Kasibhatla sold 10,000 shares of the stock in a transaction on Monday, July 22nd. The stock was sold at an average price of $49.29, for a total value of $492,900.00. Following the transaction, the director now owns 62,354 shares of the company’s stock, valued at approximately $3,073,428.66. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, CFO Stephane Biguet sold 50,048 shares of Schlumberger stock in a transaction dated Monday, July 22nd. The stock was sold at an average price of $49.94, for a total transaction of $2,499,397.12. Following the completion of the transaction, the chief financial officer now owns 203,076 shares in the company, valued at $10,141,615.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Vijay Kasibhatla sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, July 22nd. The stock was sold at an average price of $49.29, for a total value of $492,900.00. Following the sale, the director now owns 62,354 shares of the company’s stock, valued at approximately $3,073,428.66. The disclosure for this sale can be found here. Insiders have sold 180,716 shares of company stock valued at $9,048,624 over the last three months. 0.26% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research firms have recently commented on SLB. Evercore ISI boosted their price target on Schlumberger from $73.00 to $74.00 and gave the stock an “outperform” rating in a research report on Monday, July 22nd. StockNews.com lowered Schlumberger from a “buy” rating to a “hold” rating in a report on Thursday, June 6th. Susquehanna reduced their price objective on Schlumberger from $77.00 to $70.00 and set a “positive” rating on the stock in a research report on Thursday, July 11th. Piper Sandler dropped their price objective on Schlumberger from $71.00 to $66.00 and set an “overweight” rating for the company in a research note on Monday, July 15th. Finally, Barclays lowered their price objective on Schlumberger from $70.00 to $67.00 and set an “overweight” rating for the company in a research report on Tuesday, July 23rd. Two investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $66.72.

Schlumberger Trading Up 2.7 %

Schlumberger stock opened at $41.50 on Wednesday. The company’s fifty day simple moving average is $44.71 and its 200-day simple moving average is $47.52. The company has a quick ratio of 1.13, a current ratio of 1.49 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 stock has a market cap of $59.32 billion, a P/E ratio of 13.79, a P/E/G ratio of 0.85 and a beta of 1.52.

Schlumberger (NYSE:SLB) last released its earnings results on Friday, July 19th. The oil and gas company reported $0.85 earnings per share for the quarter, topping analysts’ consensus estimates of $0.83 by $0.02. The firm had revenue of $9.14 billion during the quarter, compared to analyst estimates of $9.08 billion. Schlumberger had a net margin of 12.56% and a return on equity of 21.92%. The business’s revenue was up 12.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.72 EPS. As a group, sell-side analysts forecast that Schlumberger Limited will post 3.49 EPS for the current fiscal year.

Schlumberger Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 10th. Shareholders of record on Wednesday, September 4th will be issued a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a yield of 2.65%. The ex-dividend date is Wednesday, September 4th. Schlumberger’s dividend payout ratio is currently 36.54%.

Schlumberger Company 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.