Sunbelt Securities Inc. Boosts Position in Schlumberger Limited (NYSE:SLB)

Sunbelt Securities Inc. grew its stake in Schlumberger Limited (NYSE:SLB) by 119.4% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 23,152 shares of the oil and gas company’s stock after acquiring an additional 12,601 shares during the quarter. Sunbelt Securities Inc.’s holdings in Schlumberger were worth $1,092,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Crescent Grove Advisors LLC acquired a new stake in Schlumberger during the second quarter worth about $257,000. National Bank of Canada FI lifted its holdings in Schlumberger by 15.0% during the 1st quarter. National Bank of Canada FI now owns 396,382 shares of the oil and gas company’s stock worth $21,726,000 after buying an additional 51,637 shares during the last quarter. Mission Wealth Management LP bought a new stake in shares of Schlumberger in the 1st quarter worth approximately $245,000. Public Sector Pension Investment Board lifted its holdings in shares of Schlumberger by 0.6% in the 2nd quarter. Public Sector Pension Investment Board now owns 1,901,713 shares of the oil and gas company’s stock worth $89,723,000 after purchasing an additional 11,813 shares during the last quarter. Finally, Canada Pension Plan Investment Board increased its position in Schlumberger by 9.0% in the 1st quarter. Canada Pension Plan Investment Board now owns 788,484 shares of the oil and gas company’s stock valued at $43,217,000 after acquiring an additional 64,974 shares during the period. 81.99% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, Director Vijay Kasibhatla sold 10,000 shares of Schlumberger stock in a transaction dated Monday, July 22nd. The shares were sold at an average price of $49.29, for a total transaction of $492,900.00. Following the sale, the director now owns 62,354 shares of the company’s stock, valued at approximately $3,073,428.66. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Vijay Kasibhatla sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, July 22nd. The shares were sold at an average price of $49.29, for a total transaction of $492,900.00. Following the completion of the sale, the director now directly owns 62,354 shares in the company, valued at $3,073,428.66. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Mogharbel Khaled Al sold 120,668 shares of the company’s stock in a transaction that occurred on Monday, July 22nd. The stock was sold at an average price of $50.19, for a total transaction of $6,056,326.92. Following the completion of the transaction, the executive vice president now owns 247,699 shares of the company’s stock, valued at $12,432,012.81. The disclosure for this sale can be found here. Insiders have sold a total of 180,716 shares of company stock worth $9,048,624 in the last 90 days. 0.26% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

SLB has been the topic of several research analyst reports. Benchmark reiterated a “buy” rating and set a $68.00 price target on shares of Schlumberger in a research report on Monday, July 22nd. Morgan Stanley decreased their target price on Schlumberger from $65.00 to $60.00 and set an “overweight” rating on the stock in a report on Monday, September 16th. Piper Sandler decreased their target price on Schlumberger from $71.00 to $66.00 and set an “overweight” rating for the company in a research report on Monday, July 15th. StockNews.com cut Schlumberger from a “buy” rating to a “hold” rating in a research report on Thursday, June 6th. Finally, Citigroup reduced their price objective on Schlumberger from $65.00 to $62.00 and set a “buy” rating for the company in a research report on Friday, June 28th. Two investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, Schlumberger currently has an average rating of “Moderate Buy” and an average price target of $66.08.

Schlumberger Trading Down 0.8 %

NYSE:SLB opened at $41.95 on Tuesday. Schlumberger Limited has a 52 week low of $38.66 and a 52 week high of $61.20. The firm has a 50-day moving average price of $43.68 and a two-hundred day moving average price of $46.96. The firm has a market cap of $59.96 billion, a price-to-earnings ratio of 13.94, a price-to-earnings-growth ratio of 0.92 and a beta of 1.51. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.13 and a current ratio of 1.49.

Schlumberger (NYSE:SLB) last released its quarterly earnings data on Friday, July 19th. The oil and gas company reported $0.85 EPS for the quarter, topping the consensus estimate of $0.83 by $0.02. Schlumberger had a net margin of 12.56% and a return on equity of 21.92%. The company had revenue of $9.14 billion during the quarter, compared to the consensus estimate of $9.08 billion. During the same period last year, the firm earned $0.72 EPS. Schlumberger’s revenue for the quarter was up 12.8% on a year-over-year basis. On average, equities analysts expect that Schlumberger Limited will post 3.49 earnings per share for the current fiscal year.

Schlumberger Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 10th. Investors of record on Wednesday, September 4th will be given a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a yield of 2.62%. The ex-dividend date of this dividend is Wednesday, September 4th. Schlumberger’s payout ratio is presently 36.54%.

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.