Allstate Corp Purchases 14,203 Shares of Schlumberger Limited $SLB

Allstate Corp lifted its position in shares of Schlumberger Limited (NYSE:SLB) by 33.6% in the 1st quarter, Holdings Channel reports. The fund owned 56,459 shares of the oil and gas company’s stock after buying an additional 14,203 shares during the quarter. Allstate Corp’s holdings in Schlumberger were worth $2,360,000 as of its most recent filing with the SEC.

Other large investors also recently added to or reduced their stakes in the company. First Command Advisory Services Inc. increased its stake in shares of Schlumberger by 300.0% in the first quarter. First Command Advisory Services Inc. now owns 636 shares of the oil and gas company’s stock worth $27,000 after purchasing an additional 477 shares in the last quarter. Atlas Capital Advisors Inc. purchased a new stake in shares of Schlumberger during the 1st quarter valued at approximately $33,000. Alpine Bank Wealth Management bought a new position in Schlumberger in the 1st quarter worth approximately $34,000. True Wealth Design LLC grew its stake in Schlumberger by 584.7% in the 4th quarter. True Wealth Design LLC now owns 986 shares of the oil and gas company’s stock valued at $38,000 after buying an additional 842 shares in the last quarter. Finally, Park Square Financial Group LLC purchased a new position in Schlumberger in the 1st quarter valued at approximately $38,000. Hedge funds and other institutional investors own 81.99% of the company’s stock.

Analysts Set New Price Targets

SLB has been the topic of several recent research reports. Piper Sandler dropped their target price on Schlumberger from $44.00 to $42.00 and set a “neutral” rating on the stock in a research report on Friday, July 18th. JPMorgan Chase & Co. decreased their price objective on Schlumberger from $46.00 to $44.00 and set an “overweight” rating on the stock in a research note on Monday, June 30th. Susquehanna cut their target price on Schlumberger from $44.00 to $42.00 and set a “positive” rating for the company in a research note on Monday, July 21st. Jefferies Financial Group decreased their price target on Schlumberger from $54.00 to $53.00 and set a “buy” rating on the stock in a research report on Thursday, June 26th. Finally, UBS Group lowered their price target on shares of Schlumberger from $45.00 to $44.00 and set a “buy” rating on the stock in a report on Wednesday. Two research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat, Schlumberger presently has a consensus rating of “Moderate Buy” and a consensus price target of $52.86.

Schlumberger Stock Performance

NYSE:SLB opened at $35.5750 on Friday. Schlumberger Limited has a twelve month low of $31.11 and a twelve month high of $46.16. 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 stock has a market cap of $48.07 billion, a P/E ratio of 12.18, a PEG ratio of 9.38 and a beta of 1.03. The business’s 50-day moving average price is $34.51 and its two-hundred day moving average price is $36.36.

Schlumberger (NYSE:SLB) last announced its earnings results on Friday, July 18th. The oil and gas company reported $0.74 earnings per share 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 the consensus estimate of $8.51 billion. During the same period last year, the firm posted $0.85 earnings per share. Schlumberger’s quarterly revenue was down 6.5% on a year-over-year basis. As a group, equities analysts predict that Schlumberger Limited will post 3.38 EPS for the current fiscal year.

Schlumberger Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 9th. Stockholders of record on Wednesday, September 3rd will be issued a dividend of $0.285 per share. This represents a $1.14 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date of this dividend is Wednesday, September 3rd. Schlumberger’s payout ratio is currently 39.04%.

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.