Benjamin Edwards Inc. Buys 1,503 Shares of Schlumberger Limited (NYSE:SLB)

Benjamin Edwards Inc. raised its position in shares of Schlumberger Limited (NYSE:SLB) by 23.6% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,870 shares of the oil and gas company’s stock after acquiring an additional 1,503 shares during the period. Benjamin Edwards Inc.’s holdings in Schlumberger were worth $371,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Carolinas Wealth Consulting LLC increased its position in Schlumberger by 53.5% during the 4th quarter. Carolinas Wealth Consulting LLC now owns 1,960 shares of the oil and gas company’s stock worth $102,000 after buying an additional 683 shares during the period. Crescent Grove Advisors LLC bought a new stake in Schlumberger in the 2nd quarter valued at about $257,000. National Bank of Canada FI grew its position in shares of 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 purchasing an additional 51,637 shares in the last quarter. Mission Wealth Management LP bought a new position in shares of Schlumberger during the first quarter worth approximately $245,000. Finally, Canada Pension Plan Investment Board raised its position in shares of 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 buying an additional 64,974 shares in the last quarter. Institutional investors and hedge funds own 81.99% of the company’s stock.

Insider Activity at Schlumberger

In other news, EVP Mogharbel Khaled Al sold 120,668 shares of Schlumberger stock in a transaction dated Monday, July 22nd. The stock was sold at an average price of $50.19, for a total value of $6,056,326.92. Following the completion of the transaction, the executive vice president now directly owns 247,699 shares of the company’s stock, valued at approximately $12,432,012.81. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, Director Vijay Kasibhatla sold 10,000 shares of the firm’s stock in a transaction dated 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 directly owns 62,354 shares in the company, valued at approximately $3,073,428.66. The sale was disclosed in a document filed with the SEC, 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 value of $6,056,326.92. Following the transaction, the executive vice president now directly owns 247,699 shares in the company, 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 over the last quarter. Company insiders own 0.26% of the company’s stock.

Schlumberger Stock Performance

NYSE SLB opened at $42.41 on Friday. The company has a market capitalization of $60.22 billion, a price-to-earnings ratio of 14.09, a PEG ratio of 0.86 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 twelve month low of $38.66 and a twelve month high of $61.41. The stock has a fifty day simple moving average of $44.48 and a 200 day simple moving average of $47.40.

Schlumberger (NYSE:SLB) last issued its quarterly earnings data on Friday, July 19th. The oil and gas company reported $0.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.83 by $0.02. The company 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%. The firm’s revenue was up 12.8% compared to the same quarter last year. During the same period last year, the company earned $0.72 earnings per share. Sell-side analysts expect that Schlumberger Limited will post 3.49 EPS for the current year.

Schlumberger Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 10th. Investors of record on Wednesday, September 4th will be paid a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a yield of 2.59%. The ex-dividend date of this dividend is Wednesday, September 4th. Schlumberger’s dividend payout ratio is presently 36.54%.

Wall Street Analyst Weigh In

SLB has been the topic of a number of analyst reports. UBS Group reduced their price target on Schlumberger from $63.00 to $57.00 and set a “buy” rating on the stock in a research report on Wednesday. Citigroup dropped their price target on Schlumberger from $65.00 to $62.00 and set a “buy” rating for the company in a research note on Friday, June 28th. Piper Sandler reduced their price objective on shares of Schlumberger from $71.00 to $66.00 and set an “overweight” rating on the stock in a research note on Monday, July 15th. TD Cowen boosted their target price on shares of Schlumberger from $62.00 to $64.00 and gave the company a “buy” rating in a research report on Monday, July 22nd. Finally, Dbs Bank started coverage on shares of Schlumberger in a research report on Wednesday. They set a “buy” rating and a $64.50 price target on the stock. Two investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $66.29.

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.