B. Riley Wealth Advisors Inc. Lowers Holdings in Schlumberger Limited (NYSE:SLB)

B. Riley Wealth Advisors Inc. decreased its stake in shares of Schlumberger Limited (NYSE:SLB) by 35.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 15,971 shares of the oil and gas company’s stock after selling 8,829 shares during the quarter. B. Riley Wealth Advisors Inc.’s holdings in Schlumberger were worth $835,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in SLB. Norges Bank purchased a new position in Schlumberger during the fourth quarter valued at $1,000,292,000. Price T Rowe Associates Inc. MD raised its stake in shares of Schlumberger by 12.9% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 75,379,848 shares of the oil and gas company’s stock worth $3,922,768,000 after purchasing an additional 8,617,971 shares during the last quarter. Winslow Capital Management LLC raised its stake in shares of Schlumberger by 123,063.5% in the fourth quarter. Winslow Capital Management LLC now owns 4,347,671 shares of the oil and gas company’s stock worth $226,253,000 after purchasing an additional 4,344,141 shares during the last quarter. Royal Bank of Canada raised its stake in shares of Schlumberger by 79.7% in the third quarter. Royal Bank of Canada now owns 4,919,990 shares of the oil and gas company’s stock worth $286,835,000 after purchasing an additional 2,182,706 shares during the last quarter. Finally, Vanguard Group Inc. raised its stake in shares of Schlumberger by 1.3% in the fourth quarter. Vanguard Group Inc. now owns 132,281,480 shares of the oil and gas company’s stock worth $6,883,928,000 after purchasing an additional 1,753,108 shares during the last quarter. Hedge funds and other institutional investors own 81.99% of the company’s stock.

Analyst Ratings Changes

SLB has been the subject of several recent analyst reports. TD Cowen decreased their price target on Schlumberger from $64.00 to $63.00 and set a “buy” rating for the company in a research note on Monday, April 22nd. BMO Capital Markets reduced their price objective on Schlumberger from $66.00 to $64.00 and set an “outperform” rating for the company in a research report on Monday, April 22nd. Bank of America reduced their price objective on Schlumberger from $63.00 to $62.00 and set a “buy” rating for the company in a research report on Monday, April 22nd. Susquehanna reiterated a “positive” rating and set a $77.00 price objective on shares of Schlumberger in a research report on Monday, April 22nd. Finally, Barclays reduced their price objective on Schlumberger from $74.00 to $70.00 and set an “overweight” rating for the company in a research report on Thursday, April 4th. Two equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $69.06.

Schlumberger Stock Performance

NYSE:SLB opened at $45.70 on Friday. The company has a current ratio of 1.37, a quick ratio of 1.02 and a debt-to-equity ratio of 0.49. Schlumberger Limited has a 12-month low of $42.61 and a 12-month high of $62.12. The stock has a 50-day moving average price of $47.08 and a 200 day moving average price of $49.68. The stock has a market capitalization of $65.32 billion, a P/E ratio of 15.18, a P/E/G ratio of 0.86 and a beta of 1.57.

Schlumberger (NYSE:SLB) last released its earnings results on Friday, April 19th. The oil and gas company reported $0.75 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.75. Schlumberger had a return on equity of 21.88% and a net margin of 12.72%. The firm had revenue of $8.71 billion during the quarter, compared to analysts’ expectations of $8.70 billion. During the same quarter last year, the business posted $0.63 earnings per share. The firm’s revenue was up 12.6% on a year-over-year basis. Equities research analysts forecast that Schlumberger Limited will post 3.51 EPS for the current fiscal year.

Schlumberger Increases Dividend

The firm 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 dividend of $0.275 per share. The ex-dividend date of this dividend is Wednesday, June 5th. This represents a $1.10 annualized dividend and a dividend yield of 2.41%. This is a boost from Schlumberger’s previous quarterly dividend of $0.25. Schlumberger’s dividend payout ratio (DPR) is currently 36.54%.

Insider Buying and Selling

In other Schlumberger news, insider Bejar Carmen Rando sold 4,980 shares of the firm’s stock in a transaction that occurred on Friday, June 7th. The stock was sold at an average price of $43.43, for a total transaction of $216,281.40. Following the completion of the transaction, the insider now owns 22,518 shares in the company, valued at approximately $977,956.74. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Schlumberger news, CTO Demosthenis Pafitis sold 63,095 shares of the firm’s stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $48.26, for a total transaction of $3,044,964.70. Following the completion of the transaction, the chief technology officer now owns 33,421 shares in the company, valued at approximately $1,612,897.46. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Bejar Carmen Rando sold 4,980 shares of the firm’s stock in a transaction that occurred on Friday, June 7th. The shares were sold at an average price of $43.43, for a total value of $216,281.40. Following the transaction, the insider now owns 22,518 shares of the company’s stock, valued at approximately $977,956.74. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 106,158 shares of company stock worth $5,099,893. 0.26% of the stock is owned by corporate insiders.

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.