PDS Planning Inc Acquires New Holdings in Schlumberger Limited (NYSE:SLB)

PDS Planning Inc bought a new position in Schlumberger Limited (NYSE:SLB) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 4,901 shares of the oil and gas company’s stock, valued at approximately $206,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of SLB. Norden Group LLC bought a new position in Schlumberger in the 1st quarter worth approximately $253,000. Whittier Trust Co. of Nevada Inc. raised its stake in shares of Schlumberger by 20.4% during the first quarter. Whittier Trust Co. of Nevada Inc. now owns 3,161 shares of the oil and gas company’s stock valued at $173,000 after purchasing an additional 535 shares in the last quarter. Larson Financial Group LLC lifted its holdings in Schlumberger by 123.5% in the first quarter. Larson Financial Group LLC now owns 2,076 shares of the oil and gas company’s stock worth $114,000 after purchasing an additional 1,147 shares during the period. Mediolanum International Funds Ltd bought a new position in Schlumberger in the 1st quarter valued at about $2,373,000. Finally, Signaturefd LLC increased its stake in Schlumberger by 5.2% during the 1st quarter. Signaturefd LLC now owns 22,612 shares of the oil and gas company’s stock valued at $1,239,000 after buying an additional 1,119 shares during the period. Institutional investors own 81.99% of the company’s stock.

Schlumberger Trading Up 0.6 %

NYSE:SLB opened at $40.55 on Wednesday. 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 company has a market capitalization of $57.26 billion, a P/E ratio of 13.04, a P/E/G ratio of 1.40 and a beta of 1.52. The stock’s 50 day moving average price is $42.25 and its 200 day moving average price is $44.97. Schlumberger Limited has a 52 week low of $38.66 and a 52 week high of $57.47.

Schlumberger (NYSE:SLB) last released its quarterly earnings results on Friday, October 18th. The oil and gas company reported $0.89 earnings per share for the quarter, beating analysts’ consensus estimates of $0.88 by $0.01. The business had revenue of $9.16 billion for the quarter, compared to the consensus estimate of $9.27 billion. Schlumberger had a net margin of 12.44% and a return on equity of 21.84%. Schlumberger’s revenue for the quarter was up 10.2% on a year-over-year basis. During the same quarter last year, the firm earned $0.78 EPS. On average, research analysts forecast that Schlumberger Limited will post 3.4 EPS for the current fiscal year.

Schlumberger Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 9th. Stockholders of record on Wednesday, December 4th will be issued a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a dividend yield of 2.71%. The ex-dividend date of this dividend is Wednesday, December 4th. Schlumberger’s dividend payout ratio is 35.37%.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Citigroup reduced their price target on shares of Schlumberger from $60.00 to $54.00 and set a “buy” rating for the company in a research note on Tuesday, October 22nd. UBS Group cut their target price on Schlumberger from $63.00 to $57.00 and set a “buy” rating for the company in a research report on Wednesday, September 18th. Barclays lowered their price target on Schlumberger from $67.00 to $63.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 16th. Dbs Bank began coverage on Schlumberger in a report on Wednesday, September 18th. They issued a “buy” rating and a $64.50 price objective for the company. Finally, Piper Sandler lowered their target price on Schlumberger from $71.00 to $66.00 and set an “overweight” rating on the stock in a report on Monday, July 15th. Two research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $60.97.

Insider Activity

In other Schlumberger news, EVP Abdellah Merad sold 60,000 shares of the company’s stock in a transaction that occurred on Thursday, October 24th. The stock was sold at an average price of $41.90, for a total transaction 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 represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.26% of the stock is currently owned by insiders.

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.