waypoint wealth counsel Invests $290,000 in Schlumberger Limited (NYSE:SLB)

waypoint wealth counsel purchased a new stake in Schlumberger Limited (NYSE:SLB) during the third quarter, according to its most recent disclosure with the SEC. The firm purchased 6,911 shares of the oil and gas company’s stock, valued at approximately $290,000.

Several other institutional investors also recently bought and sold shares of the company. Capital World Investors boosted its stake in shares of Schlumberger by 72.3% in the first quarter. Capital World Investors now owns 88,950,956 shares of the oil and gas company’s stock worth $4,875,402,000 after acquiring an additional 37,333,485 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in Schlumberger by 14.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 85,986,039 shares of the oil and gas company’s stock valued at $4,712,897,000 after purchasing an additional 10,606,191 shares in the last quarter. Boston Partners boosted its stake in Schlumberger by 35.8% during the 1st quarter. Boston Partners now owns 11,640,827 shares of the oil and gas company’s stock worth $635,883,000 after purchasing an additional 3,069,395 shares during the last quarter. Ceredex Value Advisors LLC purchased a new stake in shares of Schlumberger during the second quarter worth $92,944,000. Finally, 1832 Asset Management L.P. acquired a new stake in shares of Schlumberger in the second quarter valued at about $91,364,000. 81.99% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. TD Cowen boosted their price target on shares of Schlumberger from $62.00 to $64.00 and gave the stock a “buy” rating in a research report on Monday, July 22nd. Evercore ISI increased their price target on Schlumberger from $73.00 to $74.00 and gave the company an “outperform” rating in a report on Monday, July 22nd. Piper Sandler reduced their price objective on Schlumberger from $71.00 to $66.00 and set an “overweight” rating on the stock in a research report on Monday, July 15th. Wells Fargo & Company dropped their target price on Schlumberger from $53.00 to $49.00 and set an “equal weight” rating for the company in a report on Wednesday, September 25th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $69.00 target price on shares of Schlumberger in a research note on Thursday. Two investment analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $65.29.

Schlumberger Trading Up 1.3 %

Shares of SLB stock traded up $0.57 on Friday, hitting $45.46. The stock had a trading volume of 11,296,550 shares, compared to its average volume of 15,063,109. The company’s 50 day moving average price is $43.34 and its 200-day moving average price is $46.75. 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 firm has a market capitalization of $64.55 billion, a P/E ratio of 15.10, a P/E/G ratio of 0.94 and a beta of 1.51.

Schlumberger (NYSE:SLB) last issued its quarterly earnings results on Friday, July 19th. The oil and gas company reported $0.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.83 by $0.02. The business had revenue of $9.14 billion for the quarter, compared to analysts’ expectations of $9.08 billion. Schlumberger had a net margin of 12.56% and a return on equity of 21.92%. The business’s quarterly revenue was up 12.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.72 earnings per share. Analysts anticipate that Schlumberger Limited will post 3.48 earnings per share for the current year.

Schlumberger Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 10th. Shareholders of record on Wednesday, September 4th will be given a $0.275 dividend. The ex-dividend date of this dividend is Wednesday, September 4th. This represents a $1.10 annualized dividend and a yield of 2.42%. Schlumberger’s dividend payout ratio is presently 36.54%.

Insider Transactions at Schlumberger

In related news, EVP Mogharbel Khaled Al sold 120,668 shares of Schlumberger stock in a transaction 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 completion of the transaction, the executive vice president now directly owns 247,699 shares in the company, valued at approximately $12,432,012.81. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Schlumberger news, CFO Stephane Biguet sold 50,048 shares of the business’s stock in a transaction that occurred on Monday, July 22nd. The shares were sold at an average price of $49.94, for a total transaction of $2,499,397.12. Following the completion of the transaction, the chief financial officer now owns 203,076 shares in the company, valued at $10,141,615.44. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Mogharbel Khaled Al sold 120,668 shares of the firm’s stock in a transaction on Monday, July 22nd. The shares were sold at an average price of $50.19, for a total transaction 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 $12,432,012.81. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 180,716 shares of company stock valued at $9,048,624. 0.26% of the stock is currently owned by company insiders.

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.