abrdn plc Has $119.25 Million Position in Schlumberger Limited (NYSE:SLB)

abrdn plc raised its position in shares of Schlumberger Limited (NYSE:SLB) by 19.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,291,448 shares of the oil and gas company’s stock after purchasing an additional 374,416 shares during the quarter. abrdn plc owned 0.16% of Schlumberger worth $119,247,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Investment Advisory Services Inc. TX ADV increased its position in shares of Schlumberger by 1.4% during the third quarter. Investment Advisory Services Inc. TX ADV now owns 11,968 shares of the oil and gas company’s stock worth $698,000 after buying an additional 171 shares during the period. Miller Howard Investments Inc. NY increased its position in shares of Schlumberger by 0.5% during the third quarter. Miller Howard Investments Inc. NY now owns 32,845 shares of the oil and gas company’s stock worth $1,915,000 after buying an additional 176 shares during the period. Stonegate Investment Group LLC boosted its stake in Schlumberger by 1.7% during the third quarter. Stonegate Investment Group LLC now owns 10,864 shares of the oil and gas company’s stock worth $633,000 after acquiring an additional 177 shares in the last quarter. CI Investments Inc. boosted its stake in Schlumberger by 4.9% during the third quarter. CI Investments Inc. now owns 4,142 shares of the oil and gas company’s stock worth $241,000 after acquiring an additional 192 shares in the last quarter. Finally, Montgomery Investment Management Inc. boosted its stake in Schlumberger by 1.9% during the third quarter. Montgomery Investment Management Inc. now owns 10,920 shares of the oil and gas company’s stock worth $637,000 after acquiring an additional 200 shares in the last quarter. 81.99% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Schlumberger news, EVP Mogharbel Khaled Al sold 38,570 shares of Schlumberger stock in a transaction that occurred on Tuesday, January 23rd. The shares were sold at an average price of $50.42, for a total transaction of $1,944,699.40. Following the transaction, the executive vice president now directly owns 386,841 shares of the company’s stock, valued at $19,504,523.22. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Schlumberger news, CAO Howard Guild sold 22,853 shares of the business’s stock in a transaction that occurred on Wednesday, January 24th. The stock was sold at an average price of $51.66, for a total value of $1,180,585.98. Following the completion of the sale, the chief accounting officer now owns 22,181 shares in the company, valued at $1,145,870.46. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Mogharbel Khaled Al sold 38,570 shares of Schlumberger stock in a transaction on Tuesday, January 23rd. The stock was sold at an average price of $50.42, for a total transaction of $1,944,699.40. Following the completion of the transaction, the executive vice president now directly owns 386,841 shares in the company, valued at $19,504,523.22. The disclosure for this sale can be found here. Insiders sold a total of 172,191 shares of company stock valued at $8,636,322 over the last quarter. 0.26% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. Bank of America increased their target price on shares of Schlumberger from $62.00 to $63.00 and gave the stock a “buy” rating in a research note on Monday, April 15th. Royal Bank of Canada increased their target price on shares of Schlumberger from $66.00 to $69.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 3rd. Wells Fargo & Company raised their price objective on shares of Schlumberger from $69.00 to $70.00 and gave the company an “overweight” rating in a research note on Monday, January 22nd. HSBC restated a “buy” rating and issued a $71.00 target price on shares of Schlumberger in a report on Thursday, April 4th. Finally, Stifel Nicolaus lifted their price target on Schlumberger from $63.00 to $64.00 and gave the company a “buy” rating in a research note on Monday, January 22nd. One equities research analyst has rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $70.31.

Schlumberger Price Performance

SLB traded down $1.09 on Friday, reaching $49.85. The company had a trading volume of 16,841,598 shares, compared to its average volume of 8,854,654. Schlumberger Limited has a 52-week low of $42.73 and a 52-week high of $62.12. The company has a market cap of $71.16 billion, a price-to-earnings ratio of 17.07, a P/E/G ratio of 0.97 and a beta of 1.60. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.00 and a current ratio of 1.32. The business has a 50 day simple moving average of $51.62 and a 200 day simple moving average of $52.43.

Schlumberger (NYSE:SLB) last posted its quarterly earnings data on Friday, April 19th. The oil and gas company reported $0.75 earnings per share for the quarter, meeting the consensus estimate of $0.75. Schlumberger had a net margin of 12.68% and a return on equity of 21.97%. The firm had revenue of $8.71 billion for the quarter, compared to analysts’ expectations of $8.70 billion. During the same quarter last year, the company posted $0.63 EPS. The business’s quarterly revenue was up 12.6% on a year-over-year basis. As a group, sell-side analysts anticipate that Schlumberger Limited will post 3.51 EPS for the current year.

Schlumberger Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 11th. Investors of record on Wednesday, June 5th will be given a $0.275 dividend. This is an increase from Schlumberger’s previous quarterly dividend of $0.25. This represents a $1.10 dividend on an annualized basis and a yield of 2.21%. Schlumberger’s payout ratio is presently 37.67%.

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.