Steward Partners Investment Advisory LLC Sells 646 Shares of Schlumberger Limited (NYSE:SLB)

Steward Partners Investment Advisory LLC trimmed its stake in Schlumberger Limited (NYSE:SLB) by 2.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 26,769 shares of the oil and gas company’s stock after selling 646 shares during the period. Steward Partners Investment Advisory LLC’s holdings in Schlumberger were worth $1,026,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Prospera Private Wealth LLC bought a new position in Schlumberger in the 3rd quarter worth approximately $29,000. YANKCOM Partnership acquired a new position in Schlumberger in the fourth quarter valued at about $31,000. Stonebridge Financial Group LLC acquired a new stake in Schlumberger in the fourth quarter worth $32,000. Golden State Wealth Management LLC acquired a new stake in Schlumberger during the 4th quarter worth $34,000. Finally, Ashton Thomas Securities LLC acquired a new stake in shares of Schlumberger during the third quarter worth about $37,000. Institutional investors own 81.99% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Sanford C. Bernstein raised Schlumberger to a “strong-buy” rating in a research note on Tuesday, November 12th. Wells Fargo & Company lowered their target price on shares of Schlumberger from $49.00 to $46.00 and set an “equal weight” rating on the stock in a report on Tuesday, December 17th. Piper Sandler initiated coverage on Schlumberger in a report on Thursday, December 19th. They set a “neutral” rating and a $47.00 target price on the stock. Stifel Nicolaus decreased their price target on shares of Schlumberger from $60.00 to $59.00 and set a “buy” rating on the stock in a research note on Monday, December 23rd. Finally, Jefferies Financial Group lowered their price objective on Schlumberger from $64.00 to $61.00 and set a “buy” rating on the stock in a research report on Friday, January 3rd. Six research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Schlumberger presently has a consensus rating of “Moderate Buy” and a consensus target price of $55.81.

Schlumberger Stock Performance

NYSE SLB opened at $41.14 on Tuesday. The stock has a market cap of $55.94 billion, a PE ratio of 13.23, a PEG ratio of 10.10 and a beta of 1.47. Schlumberger Limited has a fifty-two week low of $36.52 and a fifty-two week high of $55.69. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.11 and a current ratio of 1.45. The firm’s fifty day moving average price is $40.80 and its two-hundred day moving average price is $41.61.

Schlumberger (NYSE:SLB) last posted its earnings results on Friday, January 17th. The oil and gas company reported $0.92 earnings per share for the quarter, topping analysts’ consensus estimates of $0.90 by $0.02. Schlumberger had a net margin of 12.29% and a return on equity of 21.90%. The firm had revenue of $9.28 billion for the quarter, compared to analyst estimates of $9.24 billion. During the same period in the previous year, the firm posted $0.86 EPS. The company’s revenue for the quarter was up 3.3% compared to the same quarter last year. On average, equities analysts expect that Schlumberger Limited will post 3.38 EPS for the current fiscal year.

Schlumberger Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 3rd. Investors of record on Wednesday, February 5th will be issued a $0.285 dividend. The ex-dividend date is Wednesday, February 5th. This is a boost from Schlumberger’s previous quarterly dividend of $0.28. This represents a $1.14 annualized dividend and a yield of 2.77%. Schlumberger’s dividend payout ratio is presently 36.66%.

Insider Activity

In other Schlumberger news, EVP Mogharbel Khaled Al sold 123,097 shares of the stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $44.09, for a total transaction of $5,427,346.73. Following the transaction, the executive vice president now directly owns 184,626 shares in the company, valued at approximately $8,140,160.34. This represents a 40.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Gavin Rennick sold 26,990 shares of the stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $40.92, for a total value of $1,104,430.80. Following the transaction, the insider now owns 53,584 shares in the company, valued at $2,192,657.28. The trade was a 33.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 290,772 shares of company stock valued at $12,546,660. 0.26% of the stock is currently owned by insiders.

Schlumberger Company 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.