4,289 Shares in Schlumberger Limited (NYSE:SLB) Purchased by Wealth Alliance

Wealth Alliance bought a new stake in Schlumberger Limited (NYSE:SLB) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 4,289 shares of the oil and gas company’s stock, valued at approximately $202,000.

Several other institutional investors also recently made changes to their positions in SLB. Abbot Financial Management Inc. grew its stake in Schlumberger by 6.2% during the 2nd quarter. Abbot Financial Management Inc. now owns 15,509 shares of the oil and gas company’s stock worth $732,000 after buying an additional 902 shares during the last quarter. Clearstead Trust LLC grew its position in shares of Schlumberger by 0.8% during the second quarter. Clearstead Trust LLC now owns 31,529 shares of the oil and gas company’s stock worth $1,488,000 after acquiring an additional 237 shares during the last quarter. Sargent Investment Group LLC grew its position in shares of Schlumberger by 17.7% during the second quarter. Sargent Investment Group LLC now owns 7,263 shares of the oil and gas company’s stock worth $343,000 after acquiring an additional 1,091 shares during the last quarter. Stock Yards Bank & Trust Co. increased its holdings in shares of Schlumberger by 1.1% in the 2nd quarter. Stock Yards Bank & Trust Co. now owns 485,061 shares of the oil and gas company’s stock worth $22,885,000 after acquiring an additional 5,263 shares during the period. Finally, Primecap Management Co. CA lifted its position in Schlumberger by 0.8% in the 2nd quarter. Primecap Management Co. CA now owns 992,200 shares of the oil and gas company’s stock valued at $46,812,000 after purchasing an additional 8,200 shares during the last quarter. 81.99% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have commented on SLB shares. UBS Group decreased their target price on shares of Schlumberger from $63.00 to $57.00 and set a “buy” rating for the company in a research report on Wednesday. Piper Sandler cut their target price on Schlumberger from $71.00 to $66.00 and set an “overweight” rating on the stock in a research note on Monday, July 15th. Benchmark reissued a “buy” rating and set a $68.00 price target on shares of Schlumberger in a report on Monday, July 22nd. Morgan Stanley reduced their price objective on shares of Schlumberger from $65.00 to $60.00 and set an “overweight” rating for the company in a report on Monday, September 16th. Finally, Dbs Bank began coverage on shares of Schlumberger in a research report on Wednesday. They issued a “buy” rating and a $64.50 target price for the company. Two research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $66.29.

Insider Activity

In related news, Director Vijay Kasibhatla sold 10,000 shares of the firm’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 value of $492,900.00. Following the completion of the transaction, the director now owns 62,354 shares of the company’s stock, valued at approximately $3,073,428.66. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Vijay Kasibhatla sold 10,000 shares of the stock in a transaction on Monday, July 22nd. The stock was sold at an average price of $49.29, for a total value of $492,900.00. Following the completion of the sale, the director now owns 62,354 shares in the company, valued at $3,073,428.66. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Stephane Biguet sold 50,048 shares of the firm’s stock in a transaction on Monday, July 22nd. The stock was 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 of the company’s stock, valued at approximately $10,141,615.44. The disclosure for this sale can be found here. Insiders have sold 180,716 shares of company stock worth $9,048,624 over the last 90 days. 0.26% of the stock is owned by company insiders.

Schlumberger Price Performance

Shares of NYSE:SLB opened at $42.41 on Friday. The company has a market capitalization of $60.22 billion, a PE ratio of 14.09, a price-to-earnings-growth ratio of 0.86 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. The stock has a fifty day moving average of $44.48 and a 200-day moving average of $47.40. Schlumberger Limited has a one year low of $38.66 and a one year high of $61.41.

Schlumberger (NYSE:SLB) last announced its earnings results on Friday, July 19th. The oil and gas company reported $0.85 EPS for the quarter, beating the consensus estimate of $0.83 by $0.02. The business had revenue of $9.14 billion during the quarter, compared to the consensus estimate of $9.08 billion. Schlumberger had a return on equity of 21.92% and a net margin of 12.56%. Schlumberger’s revenue was up 12.8% compared to the same quarter last year. During the same period in the prior year, the business posted $0.72 earnings per share. As a group, equities analysts anticipate that Schlumberger Limited will post 3.49 EPS for the current fiscal year.

Schlumberger Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 10th. Stockholders of record on Wednesday, September 4th will be given a $0.275 dividend. This represents a $1.10 annualized dividend and a dividend yield of 2.59%. The ex-dividend date is Wednesday, September 4th. Schlumberger’s dividend payout ratio (DPR) is currently 36.54%.

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.