Schlumberger Limited (NYSE:SLB) Shares Bought by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. grew its stake in shares of Schlumberger Limited (NYSE:SLB) by 136.0% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 100,328 shares of the oil and gas company’s stock after acquiring an additional 57,817 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Schlumberger were worth $4,194,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. True Wealth Design LLC increased its position in Schlumberger by 584.7% during the 4th quarter. True Wealth Design LLC now owns 986 shares of the oil and gas company’s stock worth $38,000 after purchasing an additional 842 shares in the last quarter. Bogart Wealth LLC increased its position in Schlumberger by 468.9% during the 4th quarter. Bogart Wealth LLC now owns 1,024 shares of the oil and gas company’s stock worth $39,000 after purchasing an additional 844 shares in the last quarter. Mpwm Advisory Solutions LLC acquired a new stake in Schlumberger during the 4th quarter worth approximately $40,000. J.Safra Asset Management Corp acquired a new stake in Schlumberger during the 4th quarter worth approximately $46,000. Finally, Heck Capital Advisors LLC acquired a new stake in Schlumberger during the 4th quarter worth approximately $47,000. Institutional investors and hedge funds own 81.99% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently issued reports on SLB shares. Morgan Stanley dropped their target price on shares of Schlumberger from $50.00 to $45.00 and set an “overweight” rating for the company in a research report on Friday, May 16th. Piper Sandler lowered their price objective on shares of Schlumberger from $46.00 to $44.00 and set a “neutral” rating for the company in a research report on Tuesday, April 29th. Jefferies Financial Group lowered their price objective on shares of Schlumberger from $60.00 to $59.00 and set a “buy” rating for the company in a research report on Thursday, March 27th. Stifel Nicolaus lowered their price objective on shares of Schlumberger from $58.00 to $54.00 and set a “buy” rating for the company in a research report on Monday, April 28th. Finally, Barclays lowered their price objective on shares of Schlumberger from $53.00 to $48.00 and set an “overweight” rating for the company in a research report on Friday, April 25th. Four investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $52.38.

Insider Transactions at Schlumberger

In related news, Director La Chevardiere Patrick De sold 5,000 shares of Schlumberger stock in a transaction dated Thursday, May 22nd. The shares were sold at an average price of $33.58, for a total value of $167,900.00. Following the sale, the director now directly owns 23,525 shares in the company, valued at $789,969.50. This trade represents a 17.53% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Aparna Raman sold 25,133 shares of Schlumberger stock in a transaction dated Friday, March 28th. The shares were sold at an average price of $42.28, for a total transaction of $1,062,623.24. Following the completion of the sale, the insider now owns 31,031 shares in the company, valued at approximately $1,311,990.68. This represents a 44.75% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.26% of the company’s stock.

Schlumberger Stock Up 1.9%

SLB stock opened at $36.31 on Monday. The firm has a market cap of $49.38 billion, a price-to-earnings ratio of 11.67, a PEG ratio of 10.10 and a beta of 1.01. Schlumberger Limited has a 1-year low of $31.11 and a 1-year high of $50.94. The firm has a fifty day moving average price of $34.36 and a two-hundred day moving average price of $38.31. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.45 and a quick ratio of 1.11.

Schlumberger (NYSE:SLB) last posted its quarterly earnings results on Friday, April 25th. The oil and gas company reported $0.72 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.01). Schlumberger had a return on equity of 21.90% and a net margin of 12.29%. The business had revenue of $8.49 billion during the quarter, compared to the consensus estimate of $8.64 billion. During the same quarter in the previous year, the business posted $0.75 earnings per share. The company’s quarterly revenue was down 2.5% compared to the same quarter last year. Research analysts predict that Schlumberger Limited will post 3.38 EPS for the current year.

Schlumberger Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 10th. Stockholders of record on Wednesday, June 4th will be given a $0.285 dividend. The ex-dividend date of this dividend is Wednesday, June 4th. This represents a $1.14 dividend on an annualized basis and a dividend yield of 3.14%. Schlumberger’s payout ratio is currently 38.64%.

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.