Fragasso Financial Advisors Inc Raises Stock Holdings in Schlumberger Limited (NYSE:SLB)

Fragasso Financial Advisors Inc grew its stake in Schlumberger Limited (NYSE:SLB) by 3.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 100,519 shares of the oil and gas company’s stock after acquiring an additional 3,449 shares during the quarter. Fragasso Financial Advisors Inc’s holdings in Schlumberger were worth $4,217,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Crescent Grove Advisors LLC acquired a new position in Schlumberger in the second quarter valued at $257,000. National Bank of Canada FI increased its stake in Schlumberger by 15.0% in the first quarter. National Bank of Canada FI now owns 396,382 shares of the oil and gas company’s stock valued at $21,726,000 after purchasing an additional 51,637 shares during the last quarter. Mission Wealth Management LP acquired a new position in Schlumberger in the first quarter valued at $245,000. Public Sector Pension Investment Board increased its stake in Schlumberger by 0.6% in the second quarter. Public Sector Pension Investment Board now owns 1,901,713 shares of the oil and gas company’s stock valued at $89,723,000 after purchasing an additional 11,813 shares during the last quarter. Finally, Canada Pension Plan Investment Board increased its stake in Schlumberger by 9.0% in the first 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 purchasing an additional 64,974 shares during the last quarter. 81.99% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, EVP Mogharbel Khaled Al sold 120,668 shares of the 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 sale, the executive vice president now directly owns 247,699 shares in the company, valued at approximately $12,432,012.81. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CFO Stephane Biguet sold 50,048 shares of the stock in a transaction that occurred on Monday, July 22nd. The stock was sold at an average price of $49.94, for a total transaction of $2,499,397.12. Following the sale, the chief financial officer now directly owns 203,076 shares in the company, valued at approximately $10,141,615.44. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Mogharbel Khaled Al sold 120,668 shares of the firm’s stock in a transaction that occurred on Monday, July 22nd. The shares were sold at an average price of $50.19, for a total value of $6,056,326.92. Following the completion of the sale, the executive vice president now owns 247,699 shares in the company, valued at approximately $12,432,012.81. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 180,716 shares of company stock valued at $9,048,624 in the last quarter. Insiders own 0.26% of the company’s stock.

Schlumberger Stock Up 0.3 %

SLB traded up $0.13 on Monday, reaching $45.59. The company’s stock had a trading volume of 8,956,992 shares, compared to its average volume of 11,070,614. The stock has a market cap of $64.73 billion, a price-to-earnings ratio of 15.13, a price-to-earnings-growth ratio of 0.94 and a beta of 1.51. Schlumberger Limited has a 1 year low of $38.66 and a 1 year high of $61.20. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.49 and a quick ratio of 1.13. The business’s 50 day moving average is $43.34 and its 200 day moving average is $46.70.

Schlumberger (NYSE:SLB) last released its earnings results on Friday, July 19th. The oil and gas company reported $0.85 EPS for the quarter, topping analysts’ consensus estimates of $0.83 by $0.02. Schlumberger had a return on equity of 21.92% and a net margin of 12.56%. The company had revenue of $9.14 billion for the quarter, compared to the consensus estimate of $9.08 billion. During the same quarter last year, the business posted $0.72 EPS. Schlumberger’s quarterly revenue was up 12.8% compared to the same quarter last year. As a group, research analysts forecast that Schlumberger Limited will post 3.48 EPS for the current fiscal year.

Schlumberger Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 10th. Shareholders of record on Wednesday, September 4th will be issued a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a yield of 2.41%. The ex-dividend date is Wednesday, September 4th. Schlumberger’s dividend payout ratio is presently 36.54%.

Wall Street Analyst Weigh In

Several research firms recently commented on SLB. UBS Group dropped their target price on Schlumberger from $63.00 to $57.00 and set a “buy” rating for the company in a research note on Wednesday, September 18th. Royal Bank of Canada restated an “outperform” rating and set a $69.00 price target on shares of Schlumberger in a research note on Thursday. JPMorgan Chase & Co. dropped their price target on Schlumberger from $64.00 to $60.00 and set an “overweight” rating for the company in a research note on Tuesday, October 1st. Piper Sandler dropped 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. Finally, Wells Fargo & Company dropped their price target on Schlumberger from $53.00 to $49.00 and set an “equal weight” rating for the company in a research note on Wednesday, September 25th. Two equities research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $65.29.

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.