Foundations Investment Advisors LLC Acquires 409 Shares of Schlumberger Limited (NYSE:SLB)

Foundations Investment Advisors LLC grew its stake in shares of Schlumberger Limited (NYSE:SLB) by 4.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 8,874 shares of the oil and gas company’s stock after acquiring an additional 409 shares during the period. Foundations Investment Advisors LLC’s holdings in Schlumberger were worth $372,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the stock. Crescent Grove Advisors LLC bought a new position in Schlumberger in the 2nd quarter worth about $257,000. National Bank of Canada FI grew its stake in Schlumberger by 15.0% during 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 acquiring an additional 51,637 shares in the last quarter. Mission Wealth Management LP bought a new stake in Schlumberger during the 1st quarter worth approximately $245,000. Public Sector Pension Investment Board lifted its stake in Schlumberger by 0.6% in the 2nd quarter. Public Sector Pension Investment Board now owns 1,901,713 shares of the oil and gas company’s stock worth $89,723,000 after purchasing an additional 11,813 shares in the last quarter. Finally, Canada Pension Plan Investment Board boosted its holdings in Schlumberger by 9.0% in the 1st 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 period. 81.99% of the stock is currently owned by hedge funds and other institutional investors.

Schlumberger Stock Up 1.2 %

Shares of Schlumberger stock opened at $41.74 on Friday. The company’s 50 day moving average price is $42.92 and its 200-day moving average price is $45.72. Schlumberger Limited has a 52-week low of $38.66 and a 52-week high of $57.75. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.12 and a current ratio of 1.48. The stock has a market capitalization of $59.66 billion, a price-to-earnings ratio of 13.87, a P/E/G ratio of 1.48 and a beta of 1.51.

Schlumberger (NYSE:SLB) last released its quarterly earnings data on Friday, October 18th. The oil and gas company reported $0.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.88 by $0.01. The firm had revenue of $9.16 billion for the quarter, compared to analysts’ expectations of $9.27 billion. Schlumberger had a net margin of 12.44% and a return on equity of 21.84%. The company’s revenue for the quarter was up 10.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.78 earnings per share. Equities research analysts forecast that Schlumberger Limited will post 3.41 EPS for the current year.

Schlumberger Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 9th. Shareholders of record on Wednesday, December 4th will be issued a $0.275 dividend. This represents a $1.10 annualized dividend and a yield of 2.64%. The ex-dividend date of this dividend is Wednesday, December 4th. Schlumberger’s dividend payout ratio (DPR) is currently 36.54%.

Wall Street Analyst Weigh In

SLB has been the topic of several research analyst reports. Bank of America decreased their price target on shares of Schlumberger from $58.00 to $54.00 and set a “buy” rating on the stock in a report on Monday, October 14th. Piper Sandler lowered their price target on Schlumberger from $71.00 to $66.00 and set an “overweight” rating on the stock in a report on Monday, July 15th. JPMorgan Chase & Co. cut their price objective on Schlumberger from $64.00 to $60.00 and set an “overweight” rating for the company in a report on Tuesday, October 1st. Dbs Bank initiated coverage on shares of Schlumberger in a research note on Wednesday, September 18th. They issued a “buy” rating and a $64.50 target price on the stock. Finally, Wells Fargo & Company cut their price target on shares of 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 research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $60.97.

Insider Activity

In related news, EVP Abdellah Merad sold 60,000 shares of the firm’s stock in a transaction on Thursday, October 24th. The stock was sold at an average price of $41.90, for a total value of $2,514,000.00. Following the completion of the sale, the executive vice president now owns 211,937 shares of the company’s stock, valued at $8,880,160.30. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 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.