Meitav Dash Investments Ltd. Invests $3.69 Million in Schlumberger Limited (NYSE:SLB)

Meitav Dash Investments Ltd. purchased a new position in Schlumberger Limited (NYSE:SLBGet Rating) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 88,773 shares of the oil and gas company’s stock, valued at approximately $3,692,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of SLB. Sugarloaf Wealth Management LLC grew its position in Schlumberger by 1,059.6% in the first quarter. Sugarloaf Wealth Management LLC now owns 603 shares of the oil and gas company’s stock worth $25,000 after acquiring an additional 551 shares in the last quarter. JFS Wealth Advisors LLC boosted its position in Schlumberger by 95.6% during the first quarter. JFS Wealth Advisors LLC now owns 618 shares of the oil and gas company’s stock valued at $26,000 after buying an additional 302 shares during the period. Duncker Streett & Co. Inc. boosted its position in Schlumberger by 51.1% during the fourth quarter. Duncker Streett & Co. Inc. now owns 893 shares of the oil and gas company’s stock valued at $27,000 after buying an additional 302 shares during the period. Crewe Advisors LLC boosted its position in Schlumberger by 768.4% during the first quarter. Crewe Advisors LLC now owns 660 shares of the oil and gas company’s stock valued at $27,000 after buying an additional 584 shares during the period. Finally, Riverview Trust Co purchased a new stake in Schlumberger during the first quarter valued at about $29,000. 76.34% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

SLB has been the subject of several recent analyst reports. Morgan Stanley lowered their price objective on shares of Schlumberger from $50.00 to $45.00 and set an “overweight” rating for the company in a research note on Wednesday, July 13th. Piper Sandler raised shares of Schlumberger from a “neutral” rating to an “overweight” rating and raised their target price for the company from $43.00 to $55.00 in a research note on Monday, April 11th. Benchmark raised shares of Schlumberger from a “hold” rating to a “buy” rating and set a $55.00 target price for the company in a research note on Wednesday, July 27th. Barclays raised their target price on shares of Schlumberger from $55.00 to $59.00 and gave the company an “overweight” rating in a research note on Wednesday, June 8th. Finally, StockNews.com cut shares of Schlumberger from a “buy” rating to a “hold” rating in a report on Wednesday. One analyst has rated the stock with a hold rating and eighteen have given a buy rating to the company. According to data from MarketBeat.com, Schlumberger presently has an average rating of “Moderate Buy” and a consensus price target of $47.01.

Schlumberger Price Performance

NYSE:SLB opened at $34.66 on Friday. Schlumberger Limited has a 1 year low of $25.90 and a 1 year high of $49.83. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.35 and a quick ratio of 0.98. The firm has a market capitalization of $49.02 billion, a price-to-earnings ratio of 18.84, a PEG ratio of 0.44 and a beta of 1.86. The business has a 50 day simple moving average of $38.08 and a 200-day simple moving average of $39.82.

Schlumberger (NYSE:SLBGet Rating) last issued its quarterly earnings results on Friday, July 22nd. The oil and gas company reported $0.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.40 by $0.10. Schlumberger had a return on equity of 15.06% and a net margin of 10.56%. The firm had revenue of $6.77 billion during the quarter, compared to analyst estimates of $6.28 billion. During the same period last year, the company earned $0.30 EPS. Schlumberger’s quarterly revenue was up 20.2% compared to the same quarter last year. Equities analysts forecast that Schlumberger Limited will post 2 EPS for the current year.

Schlumberger Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 13th. Stockholders of record on Wednesday, September 7th will be given a dividend of $0.175 per share. This represents a $0.70 dividend on an annualized basis and a dividend yield of 2.02%. The ex-dividend date is Tuesday, September 6th. Schlumberger’s payout ratio is 38.04%.

Insider Buying and Selling

In related news, major shareholder Limited/Nv Schlumberger sold 12,032,500 shares of the company’s stock in a transaction dated Wednesday, June 8th. The shares were sold at an average price of $17.00, for a total value of $204,552,500.00. Following the completion of the sale, the insider now directly owns 23,069,461 shares of the company’s stock, valued at $392,180,837. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Schlumberger news, insider Gavin Rennick sold 10,759 shares of the stock in a transaction dated Thursday, May 26th. The shares were sold at an average price of $46.70, for a total transaction of $502,445.30. Following the completion of the sale, the insider now directly owns 38,044 shares of the company’s stock, valued at $1,776,654.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, major shareholder Limited/Nv Schlumberger sold 12,032,500 shares of the stock in a transaction dated Wednesday, June 8th. The shares were sold at an average price of $17.00, for a total transaction of $204,552,500.00. Following the sale, the insider now directly owns 23,069,461 shares of the company’s stock, valued at $392,180,837. The disclosure for this sale can be found here. Insiders sold a total of 12,047,459 shares of company stock valued at $205,224,121 over the last three months. 0.28% of the stock is owned by company insiders.

About Schlumberger

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Schlumberger Limited provides technology for the energy industry worldwide. The company operates through four divisions: Digital & Integration, Reservoir Performance, Well Construction, and Production Systems. It offers software, information management, and IT infrastructure services; consulting services for reservoir characterization, field development planning, and production enhancement; petro technical data services and training solutions; reservoir interpretation and data processing services; asset performance solutions; open and cased-hole services; exploration and production pressure and flow-rate measurement services; pressure pumping, well stimulation, and coiled tubing equipment for downhole mechanical well intervention, reservoir monitoring, and downhole data acquisition; and integrated production systems.

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Institutional Ownership by Quarter for Schlumberger (NYSE:SLB)

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