Schlumberger Limited (NYSE:SLB) Holdings Lifted by Principal Financial Group Inc.

Principal Financial Group Inc. lifted its holdings in shares of Schlumberger Limited (NYSE:SLB - Free Report) by 8.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,487,067 shares of the oil and gas company's stock after purchasing an additional 332,500 shares during the quarter. Principal Financial Group Inc. owned 0.31% of Schlumberger worth $188,232,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Manchester Capital Management LLC increased its stake in shares of Schlumberger by 297.9% during the first quarter. Manchester Capital Management LLC now owns 569 shares of the oil and gas company's stock valued at $31,000 after buying an additional 426 shares during the period. Advisory Services Network LLC lifted its position in Schlumberger by 55.3% during the first quarter. Advisory Services Network LLC now owns 79,022 shares of the oil and gas company's stock valued at $4,331,000 after buying an additional 28,152 shares during the period. Duality Advisers LP purchased a new position in Schlumberger during the 1st quarter valued at about $861,000. Envestnet Portfolio Solutions Inc. grew its stake in shares of Schlumberger by 93.1% in the first quarter. Envestnet Portfolio Solutions Inc. now owns 163,445 shares of the oil and gas company's stock worth $8,958,000 after acquiring an additional 78,816 shares during the last quarter. Finally, Hilltop National Bank bought a new stake in shares of Schlumberger in the 1st quarter worth $377,000. 81.99% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, EVP Abdellah Merad sold 60,000 shares of Schlumberger stock in a transaction on Thursday, October 24th. The shares were sold at an average price of $41.90, for a total value of $2,514,000.00. Following the transaction, the executive vice president now directly owns 211,937 shares of the company's stock, valued at $8,880,160.30. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.26% of the company's stock.

Schlumberger Trading Down 0.8 %

NYSE:SLB traded down $0.35 on Friday, reaching $42.89. The company's stock had a trading volume of 8,647,991 shares, compared to its average volume of 11,257,980. The stock has a 50 day moving average price of $42.25 and a 200 day moving average price of $44.96. Schlumberger Limited has a 12-month low of $38.66 and a 12-month high of $55.69. The company has a quick ratio of 1.12, a current ratio of 1.48 and a debt-to-equity ratio of 0.52. The firm has a market cap of $60.57 billion, a price-to-earnings ratio of 13.75, a price-to-earnings-growth ratio of 1.54 and a beta of 1.52.

Schlumberger (NYSE:SLB - Get Free Report) last issued its quarterly earnings data on Friday, October 18th. The oil and gas company reported $0.89 earnings per share for the quarter, beating analysts' consensus estimates of $0.88 by $0.01. Schlumberger had a return on equity of 21.84% and a net margin of 12.44%. The business had revenue of $9.16 billion during the quarter, compared to analysts' expectations of $9.27 billion. During the same period in the previous year, the firm posted $0.78 earnings per share. The company's revenue was up 10.2% on a year-over-year basis. On average, equities analysts anticipate that Schlumberger Limited will post 3.4 EPS for the current fiscal year.

Schlumberger Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 9th. Stockholders of record on Wednesday, December 4th will be issued a $0.275 dividend. The ex-dividend date of this dividend is Wednesday, December 4th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 2.56%. Schlumberger's payout ratio is 35.37%.

Analysts Set New Price Targets

A number of research analysts recently commented on the stock. BMO Capital Markets lowered their price target on shares of Schlumberger from $60.00 to $58.00 and set an "outperform" rating for the company in a report on Thursday, October 10th. Piper Sandler decreased their price target on Schlumberger from $71.00 to $66.00 and set an "overweight" rating for the company in a research note on Monday, July 15th. Royal Bank of Canada reiterated an "outperform" rating and issued a $69.00 target price on shares of Schlumberger in a research note on Thursday, October 3rd. Citigroup cut their price target on shares of Schlumberger from $60.00 to $54.00 and set a "buy" rating on the stock in a report on Tuesday, October 22nd. Finally, JPMorgan Chase & Co. reduced their target price on shares of Schlumberger from $64.00 to $60.00 and set an "overweight" rating on the stock in a research report on Tuesday, October 1st. Two equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company's stock. According to data from MarketBeat.com, Schlumberger currently has an average rating of "Moderate Buy" and a consensus price target of $60.97.

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.