Capital Advisors Wealth Management LLC Makes New Investment in Schlumberger Limited (NYSE:SLB)

Capital Advisors Wealth Management LLC purchased a new position in Schlumberger Limited (NYSE:SLB - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 8,630 shares of the oil and gas company's stock, valued at approximately $361,000.

Other institutional investors also recently modified their holdings of the company. Dynamic Technology Lab Private Ltd lifted its holdings in Schlumberger by 32.2% in the fourth quarter. Dynamic Technology Lab Private Ltd now owns 71,390 shares of the oil and gas company's stock valued at $2,737,000 after buying an additional 17,405 shares during the period. Geode Capital Management LLC raised its position in shares of Schlumberger by 4.8% in the 4th quarter. Geode Capital Management LLC now owns 29,985,360 shares of the oil and gas company's stock worth $1,146,195,000 after acquiring an additional 1,377,134 shares in the last quarter. Scharf Investments LLC lifted its stake in shares of Schlumberger by 20.5% in the 1st quarter. Scharf Investments LLC now owns 1,653,895 shares of the oil and gas company's stock valued at $69,133,000 after purchasing an additional 281,773 shares during the period. Integrated Advisors Network LLC boosted its position in shares of Schlumberger by 810.4% during the 1st quarter. Integrated Advisors Network LLC now owns 75,163 shares of the oil and gas company's stock valued at $3,142,000 after purchasing an additional 66,907 shares in the last quarter. Finally, Miller Financial Services LLC bought a new stake in shares of Schlumberger during the 4th quarter valued at about $375,000. 81.99% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

SLB has been the subject of a number of research analyst reports. Susquehanna lowered their target price on Schlumberger from $48.00 to $46.00 and set a "positive" rating for the company in a report on Monday, April 28th. Piper Sandler reduced their price objective on shares of Schlumberger from $46.00 to $44.00 and set a "neutral" rating for the company in a research report on Tuesday, April 29th. Jefferies Financial Group dropped their target price on shares of Schlumberger from $54.00 to $53.00 and set a "buy" rating on the stock in a research report on Thursday. Wells Fargo & Company cut their target price on shares of Schlumberger from $46.00 to $43.00 and set an "overweight" rating on the stock in a research note on Thursday, June 5th. Finally, Morgan Stanley reduced their price target on shares of Schlumberger from $50.00 to $45.00 and set an "overweight" rating for the company in a report on Friday, May 16th. Four investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $52.03.

Schlumberger Stock Performance

Shares of Schlumberger stock opened at $34.01 on Friday. Schlumberger Limited has a 52 week low of $31.11 and a 52 week high of $50.94. The company has a quick ratio of 0.93, a current ratio of 1.24 and a debt-to-equity ratio of 0.51. The business has a 50 day moving average price of $34.46 and a 200-day moving average price of $37.82. The company has a market cap of $46.26 billion, a PE ratio of 11.53, a price-to-earnings-growth ratio of 8.86 and a beta of 1.01.

Schlumberger (NYSE:SLB - Get Free Report) last announced its quarterly earnings results on Friday, April 25th. The oil and gas company reported $0.72 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.73 by ($0.01). Schlumberger had a return on equity of 21.76% and a net margin of 11.62%. The company had revenue of $8.49 billion for the quarter, compared to the consensus estimate of $8.64 billion. During the same quarter last year, the company posted $0.75 EPS. The company's quarterly revenue was down 2.5% compared to the same quarter last year. Equities analysts anticipate that Schlumberger Limited will post 3.38 earnings per share for the current fiscal year.

Schlumberger Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 10th. Investors of record on Wednesday, June 4th will be given a dividend of $0.285 per share. This represents a $1.14 dividend on an annualized basis and a dividend yield of 3.35%. The ex-dividend date of this dividend is Wednesday, June 4th. Schlumberger's payout ratio is currently 38.64%.

Insider Activity at Schlumberger

In related news, Director La Chevardiere Patrick De sold 5,000 shares of the stock in a transaction that occurred on Thursday, May 22nd. The stock was sold at an average price of $33.58, for a total transaction of $167,900.00. Following the completion of the sale, the director now directly owns 23,525 shares of the company's stock, valued at approximately $789,969.50. This trade represents a 17.53% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.26% of the stock is 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.

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