PFG Investments LLC buys 1,013 shares of Schlumberger Limited (NYSE:SLB)

VaselineSeptember 11, 2024

0 4 minutes read

PFG Investments LLC raised its holdings in Schlumberger Limited (NYSE:SLB – Free Report) by 6.9% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 15,734 shares of the oil and gas company’s stock after buying an additional 1,013 shares during the period. PFG Investments LLC’s holdings in Schlumberger were worth $742,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of SLB. Register Financial Advisors LLC purchased a new position in Schlumberger in the first quarter worth $27,000. Bruce G. Allen Investments LLC raised its stake in Schlumberger by 204.2% during the second quarter. Bruce G. Allen Investments LLC now owns 584 shares of the oil and gas company’s stock worth $28,000 after buying an additional 392 shares during the period. Unique Wealth Strategies LLC acquired a new position in Schlumberger in the second quarter valued at $30,000. Manchester Capital Management LLC boosted its stake in Schlumberger by 297.9% in the first quarter. Manchester Capital Management LLC now owns 569 shares of the oil and gas company’s stock worth $31,000 after purchasing an additional 426 shares during the period. Finally, Riverview Trust Co raised its stake in Schlumberger by 90.6% during the second quarter. Riverview Trust Co now owns 648 shares of the oil and gas company’s stock worth $31,000 after buying an additional 308 shares during the period. Institutional investors own 81.99% of the company’s shares.

Insiders place their bets

In other Schlumberger news, Director Vijay Kasibhatla sold 10,000 shares of the business’s stock in a transaction dated Monday, July 22nd. The shares were sold at an average price of $49.29, for a total value of $492,900.00. Following the completion of the transaction, the director now directly owns 62,354 shares in the company, valued at $3,073,428.66. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC’s website. In other news, EVP Mogharbel Khaled Al sold 120,668 shares of the company’s stock in a transaction dated Monday, July 22nd. The shares were sold at an average price of $50.19, for a total transaction of $6,056,326.92. Following the transaction, the executive vice president now owns 247,699 shares in the company, valued at $12,432,012.81. The transaction was disclosed in a filing with the SEC, which is accessible via this hyperlink. Also, Director Vijay Kasibhatla sold 10,000 shares of the business’s stock in a transaction dated Monday, July 22nd. The shares were sold at an average price of $49.29, for a total transaction of $492,900.00. Following the transaction, the director now owns 62,354 shares in the company, valued at approximately $3,073,428.66. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 180,716 shares of company stock worth $9,048,624. 0.26% of shares are owned by corporate insiders.

Schlumberger stock falls 2.0%

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NYSE:SLB opened at $39.59 on Wednesday. Schlumberger Limited has a 1-year low of $39.12 and a 1-year high of $62.12. The company has a 50-day moving average of $45.33 and a 200-day moving average of $47.82. The firm has a market cap of $56.21 billion, a PE ratio of 13.15, a price-to-earnings-growth ratio of 0.87 and a beta of 1.52. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.49, and a quick ratio of 1.13.

Schlumberger (NYSE:SLB – Get Your Free Report ) last announced its earnings results 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. The business had revenue of $9.14 billion during the quarter, compared to the consensus estimate of $9.08 billion. Schlumberger had a net margin of 12.56% and a return on equity of 21.92%. The company’s revenue increased by 12.8% year-on-year. In the same period last year, the company posted earnings of $0.72 per share. As a group, research analysts anticipate that Schlumberger Limited will post 3.49 EPS for the current fiscal year.

Schlumberger announces dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 10th. Stockholders of record on Wednesday, September 4th will be issued a $0.275 dividend. The ex-dividend date of this dividend is Wednesday, September 4. This represents a dividend of $1.10 on an annualized basis and a yield of 2.78%. Schlumberger’s dividend yield is currently 36.54%.

Analysts on Wall Street are forecasting an increase

SLB has been the subject of several recent analyst reports. StockNews.com cut shares of Schlumberger from a “buy” rating to a “hold” rating in a research note on Thursday, June 6th. Citigroup cut their price target on shares of Schlumberger from $65.00 to $62.00 and set a “buy” rating for the company in a research note on Friday, June 28th. Evercore ISI upped their target price on shares of Schlumberger from $73.00 to $74.00 and gave the company an “outperform” rating in a research note on Monday, July 22nd. Susquehanna cut their price target on shares of Schlumberger from $77.00 to $70.00 and set a “positive” rating for the company in a research note on Thursday, July 11th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $69.00 target price on shares of Schlumberger in a research note on Monday, July 22nd. Two investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. The company has an average rating of “Moderate Buy” and a consensus price target of $67.00, according to MarketBeat .

Read the latest stock analysis on Schlumberger

About Schlumberger

(Free Report)

Schlumberger Limited is committed to providing technology to 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; Field data interpretation and processing services for exploration data; and well construction and production improvement services and products.