Exchange Traded Concepts LLC Grows Position in Schlumberger Limited (NYSE:SLB)

Exchange Traded Concepts LLC boosted its stake in shares of Schlumberger Limited (NYSE:SLB) by 205.6% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 15,636 shares of the oil and gas company’s stock after purchasing an additional 10,520 shares during the period. Exchange Traded Concepts LLC’s holdings in Schlumberger were worth $656,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Register Financial Advisors LLC purchased a new stake in Schlumberger during the 1st quarter worth approximately $27,000. Manchester Capital Management LLC boosted its holdings in shares of Schlumberger by 297.9% in the 1st quarter. Manchester Capital Management LLC now owns 569 shares of the oil and gas company’s stock valued at $31,000 after acquiring an additional 426 shares during the last quarter. Bruce G. Allen Investments LLC boosted its holdings in shares of Schlumberger by 204.2% in the 2nd quarter. Bruce G. Allen Investments LLC now owns 584 shares of the oil and gas company’s stock valued at $28,000 after acquiring an additional 392 shares during the last quarter. Unique Wealth Strategies LLC purchased a new stake in shares of Schlumberger in the 2nd quarter valued at $30,000. Finally, Riverview Trust Co boosted its holdings in shares of Schlumberger by 90.6% in the 2nd quarter. Riverview Trust Co now owns 648 shares of the oil and gas company’s stock valued at $31,000 after acquiring an additional 308 shares during the last quarter. Hedge funds and other institutional investors own 81.99% of the company’s stock.

Schlumberger Price Performance

Shares of NYSE SLB opened at $41.92 on Friday. The firm has a 50-day simple moving average of $43.10 and a 200-day simple moving average of $46.08. The stock has a market capitalization of $59.52 billion, a price-to-earnings ratio of 13.70, a price-to-earnings-growth ratio of 0.96 and a beta of 1.51. The company has a quick ratio of 1.13, a current ratio of 1.49 and a debt-to-equity ratio of 0.55. Schlumberger Limited has a 52 week low of $38.66 and a 52 week high of $60.85.

Schlumberger (NYSE:SLB) last issued its earnings results on Friday, October 18th. The oil and gas company reported $0.89 EPS for the quarter, beating analysts’ consensus estimates of $0.88 by $0.01. The business had revenue of $9.16 billion during the quarter, compared to analysts’ expectations of $9.27 billion. Schlumberger had a net margin of 12.56% and a return on equity of 21.92%. The company’s quarterly revenue was up 10.2% compared to the same quarter last year. During the same period in the prior year, the business earned $0.78 earnings per share. On average, equities analysts predict that Schlumberger Limited will post 3.46 earnings per share for the current fiscal year.

Schlumberger Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 9th. Stockholders of record on Wednesday, December 4th will be given a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a dividend yield of 2.62%. Schlumberger’s dividend payout ratio (DPR) is 35.95%.

Wall Street Analysts Forecast Growth

SLB has been the topic of several recent research reports. Evercore ISI upped their price objective on shares of Schlumberger from $73.00 to $74.00 and gave the company an “outperform” rating in a report on Monday, July 22nd. Wells Fargo & Company dropped their price objective on shares of Schlumberger from $53.00 to $49.00 and set an “equal weight” rating on the stock in a report on Wednesday, September 25th. Piper Sandler lowered their price target on shares of Schlumberger from $71.00 to $66.00 and set an “overweight” rating on the stock in a report on Monday, July 15th. Stifel Nicolaus lowered their price target on shares of Schlumberger from $65.00 to $62.00 and set a “buy” rating on the stock in a report on Friday, October 11th. Finally, BMO Capital Markets lowered their price target on shares of Schlumberger from $60.00 to $58.00 and set an “outperform” rating on the stock in a report on Thursday, October 10th. Two investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $62.97.

Insider Activity

In other news, CFO Stephane Biguet sold 50,048 shares of the stock in a transaction dated Monday, July 22nd. The shares were sold at an average price of $49.94, for a total value of $2,499,397.12. Following the completion of the sale, the chief financial officer now directly owns 203,076 shares in the company, valued at $10,141,615.44. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, CFO Stephane Biguet sold 50,048 shares of the company’s stock in a transaction dated Monday, July 22nd. The shares were sold at an average price of $49.94, for a total value of $2,499,397.12. Following the completion of the sale, the chief financial officer now owns 203,076 shares of the company’s stock, valued at approximately $10,141,615.44. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Vijay Kasibhatla sold 10,000 shares of the company’s 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 completion of the sale, the director now directly owns 62,354 shares of the company’s stock, valued at $3,073,428.66. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 180,716 shares of company stock worth $9,048,624 over the last three months. Insiders own 0.26% of the company’s stock.

About Schlumberger

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.