The Vanguard Group, Inc. recently announced the acquisition of new stake in Schlumberger Ltd. (NYSE:SLB). The institutional investor has increased its shareholding in the Energy company by 1.10% to 124.86 million shares with purchase of 1.36 million shares. This fresh investment now brings its stake to 8.74% valued currently at $6.5 billion. In addition, T. Rowe Price Associates, Inc. raised its holdings by 42.83 million to 64.82 million shares. And BlackRock Fund Advisors has lifted its position by 0.76% or 0.48 million shares – to 63.21 million shares.
Currently, there are 1.43B common shares owned by the public and among those 1.42B shares have been available to trade.
3 Tiny Stocks Primed to Explode
The world's greatest investor — Warren Buffett — has a simple formula for making big money in the markets. He buys up valuable assets when they are very cheap. For stock market investors that means buying up cheap small cap stocks like these with huge upside potential.
We've set up an alert service to help smart investors take full advantage of the small cap stocks primed for big returns.
Click here for full details and to join for free
Sponsored
Insiders at the company have transacted a total of 58 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 25 of these insider trades were purchases, accounting for 200,954 shares. Insider sales of the common stock occurred on 33 occasions, with total insider shares sold totaling 300,108 shares.
The top 3 mutual fund holders in Schlumberger Ltd. are Vanguard Total Stock Market ETF, Vanguard 500 Index Fund, and SPDR Series – Energy Select Secto. Vanguard Total Stock Market ETF owns 44.71 million shares of the company’s stock, all valued at over $2.33 billion. The company bought an additional 0.16 million shares recently to bring their total holdings to about 3.13% of the shares outstanding. Vanguard 500 Index Fund bought 0.25 million shares to see its total holdings expand to 34.89 million shares valued at over $1.82 billion and representing 2.44% of the shares outstanding. SPDR Series – Energy Select Secto bought 0.13 million shares to bring its total holdings to over 32.23 million shares at a value of $1.68 billion. SPDR Series – Energy Select Secto now owns shares totaling to 2.26% of the shares outstanding.
However, the script later moved the day high at 53.24, up 0.86%. The company’s stock has a 5-day price change of 6.61% and -6.53% over the past three months. SLB shares are trading 1.69% year to date (YTD), with the 12-month market performance down to -5.92% lower. It has a 12-month low price of $42.73 and touched a high of $62.12 over the same period. SLB has an average intraday trading volume of 10.12 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 4.67%, 3.03%, and -0.48% respectively.
Institutional ownership of Schlumberger Ltd. (NYSE: SLB) shares accounts for 84.15% of the company’s 1.43B shares outstanding. Mutual fund holders own 34.84%, while other institutional holders and individual stakeholders account for 49.49% and 2.93% respectively.
It has a market capitalization of $75.54B and a beta (3y monthly) value of 1.61. The stock’s trailing 12-month PE ratio is 18.18, while the earnings-per-share (ttm) stands at $2.91. The company has a PEG of 0.92 and a Quick Ratio of 1.00 with the debt-to-equity ratio at 0.62. Price movements for the stock have been influenced by the stock’s volatility, which stands at 2.58% over the week and 2.40% over the month.
Analysts forecast that Schlumberger Ltd. (SLB) will achieve an EPS of $0.69 for the current quarter, $0.78 for the next quarter and $3.87 for 2025. The lowest estimate earnings-per-share for the quarter is $0.67 while analysts give the company a high EPS estimate of $0.74. Comparatively, EPS for the current quarter was $0.63 a year ago. Earnings per share for the fiscal year are expected to increase by 19.86%, and 18.65% over the next financial year. EPS should grow at an annualized rate of 19.70% over the next five years, compared to 13.74% over the past 5-year period.
Looking at the support for the SLB, a number of firms have released research notes about the stock. Societe Generale stated their Buy rating for the stock in a research note on October 09, 2023, with the firm’s price target at $81.
