Schlumberger Limited (NYSE:SLB) Shares Sold by Atria Wealth Solutions Inc.

Atria Wealth Solutions Inc. decreased its holdings in shares of Schlumberger Limited (NYSE:SLB - Free Report) by 25.2% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 33,543 shares of the oil and gas company's stock after selling 11,287 shares during the period. Atria Wealth Solutions Inc.'s holdings in Schlumberger were worth $1,412,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. First Command Advisory Services Inc. increased its position in shares of Schlumberger by 300.0% during the first quarter. First Command Advisory Services Inc. now owns 636 shares of the oil and gas company's stock worth $27,000 after purchasing an additional 477 shares in the last quarter. Alpine Bank Wealth Management purchased a new stake in shares of Schlumberger during the first quarter worth approximately $34,000. True Wealth Design LLC increased its position in shares of Schlumberger by 584.7% during the fourth quarter. True Wealth Design LLC now owns 986 shares of the oil and gas company's stock worth $38,000 after purchasing an additional 842 shares in the last quarter. Park Square Financial Group LLC purchased a new stake in shares of Schlumberger during the first quarter worth approximately $38,000. Finally, Mpwm Advisory Solutions LLC purchased a new stake in shares of Schlumberger during the fourth quarter worth approximately $40,000. Hedge funds and other institutional investors own 81.99% of the company's stock.

Analyst Ratings Changes

Several brokerages have issued reports on SLB. Piper Sandler dropped their target price on Schlumberger from $44.00 to $42.00 and set a "neutral" rating for the company in a report on Friday, July 18th. Stifel Nicolaus dropped their target price on Schlumberger from $54.00 to $52.00 and set a "buy" rating for the company in a report on Wednesday, July 16th. Atb Cap Markets upgraded Schlumberger from a "hold" rating to a "strong-buy" rating in a report on Tuesday, July 1st. Jefferies Financial Group dropped their target price on Schlumberger from $54.00 to $53.00 and set a "buy" rating for the company in a report on Thursday, June 26th. Finally, Susquehanna dropped their target price on Schlumberger from $44.00 to $42.00 and set a "positive" rating for the company in a report on Monday, July 21st. Four analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have assigned 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 $49.28.

Insider Activity at Schlumberger

In other news, Director La Chevardiere Patrick De sold 5,000 shares of the firm's stock in a transaction that occurred on Thursday, May 22nd. The stock was sold at an average price of $33.58, for a total value of $167,900.00. Following the completion of the sale, the director directly owned 23,525 shares of the company's stock, valued at $789,969.50. This trade represents a 17.53% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.26% of the stock is owned by corporate insiders.

Schlumberger Stock Performance

Shares of SLB stock traded down $0.31 during midday trading on Thursday, hitting $33.24. The company had a trading volume of 13,563,426 shares, compared to its average volume of 16,409,760. The company's 50 day simple moving average is $34.68 and its 200 day simple moving average is $36.72. Schlumberger Limited has a 52-week low of $31.11 and a 52-week high of $46.16. The stock has a market cap of $44.92 billion, a price-to-earnings ratio of 11.38, a PEG ratio of 9.14 and a beta of 1.03. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.31 and a quick ratio of 0.98.

Schlumberger (NYSE:SLB - Get Free Report) last announced its earnings results on Friday, July 18th. The oil and gas company reported $0.74 earnings per share for the quarter, beating the consensus estimate of $0.73 by $0.01. Schlumberger had a return on equity of 20.99% and a net margin of 11.53%. The company had revenue of $8.55 billion for the quarter, compared to the consensus estimate of $8.51 billion. During the same period last year, the business posted $0.85 EPS. The company's revenue was down 6.5% on a year-over-year basis. Research analysts anticipate that Schlumberger Limited will post 3.38 earnings per share for the current fiscal year.

Schlumberger Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 9th. Stockholders of record on Wednesday, September 3rd will be issued a $0.285 dividend. This represents a $1.14 annualized dividend and a dividend yield of 3.4%. The ex-dividend date of this dividend is Wednesday, September 3rd. Schlumberger's dividend payout ratio (DPR) is currently 39.04%.

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.