IFP Advisors Inc Has $742,000 Stock Position in Schlumberger Limited $SLB

Key Points

• IFP Advisors Inc significantly reduced its holdings in Schlumberger Limited by 66.3% during the second quarter, owning 20,293 shares valued at $742,000 after selling 39,996 shares.
• Multiple institutional investors, including Charles Schwab Investment Management, increased their investments in Schlumberger, with Schwab raising its stake by 478.8% in the first quarter.
• Schlumberger's stock is currently rated as a "Moderate Buy" by analysts, with a target price averaging $52.06 despite recent cuts from several research firms.

IFP Advisors Inc trimmed its position in Schlumberger Limited (NYSE:SLB - Free Report) by 66.3% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 20,293 shares of the oil and gas company's stock after selling 39,996 shares during the quarter. IFP Advisors Inc's holdings in Schlumberger were worth $742,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of SLB. Charles Schwab Investment Management Inc. lifted its stake in shares of Schlumberger by 478.8% in the first quarter. Charles Schwab Investment Management Inc. now owns 47,719,476 shares of the oil and gas company's stock worth $1,994,674,000 after buying an additional 39,474,501 shares during the last quarter. Boston Partners lifted its stake in shares of Schlumberger by 27.7% in the first quarter. Boston Partners now owns 19,829,381 shares of the oil and gas company's stock worth $824,160,000 after buying an additional 4,300,222 shares during the last quarter. Hotchkis & Wiley Capital Management LLC raised its stake in Schlumberger by 211.1% during the 1st quarter. Hotchkis & Wiley Capital Management LLC now owns 5,992,997 shares of the oil and gas company's stock valued at $250,507,000 after purchasing an additional 4,066,500 shares during the last quarter. Nuveen LLC acquired a new position in Schlumberger during the 1st quarter valued at $169,232,000. Finally, Banque Transatlantique SA raised its stake in Schlumberger by 21,737.8% during the 1st quarter. Banque Transatlantique SA now owns 1,859,274 shares of the oil and gas company's stock valued at $71,821,000 after purchasing an additional 1,850,760 shares during the last quarter. 81.99% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Schlumberger

In other Schlumberger news, insider Dianne B. Ralston sold 39,727 shares of the firm's stock in a transaction on Friday, September 12th. The stock was sold at an average price of $36.08, for a total transaction of $1,433,350.16. Following the completion of the sale, the insider owned 202,201 shares of the company's stock, valued at $7,295,412.08. This trade represents a 16.42% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.22% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms recently commented on SLB. Piper Sandler cut their target price on shares of Schlumberger from $44.00 to $42.00 and set a "neutral" rating for the company in a research note on Friday, July 18th. UBS Group cut their target price on shares of Schlumberger from $45.00 to $44.00 and set a "buy" rating for the company in a research note on Wednesday, August 20th. Barclays cut their target price on shares of Schlumberger from $47.00 to $46.00 and set an "overweight" rating for the company in a research note on Monday, July 21st. JPMorgan Chase & Co. cut their target price on shares of Schlumberger from $46.00 to $44.00 and set an "overweight" rating for the company in a research note on Monday, June 30th. Finally, Stifel Nicolaus cut their target price on shares of Schlumberger from $54.00 to $52.00 and set a "buy" rating for the company in a research note on Wednesday, July 16th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and six have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $52.06.

Schlumberger Price Performance

NYSE:SLB opened at $32.28 on Tuesday. Schlumberger Limited has a 1-year low of $31.11 and a 1-year high of $44.97. The company has a current ratio of 1.31, a quick ratio of 0.98 and a debt-to-equity ratio of 0.51. The firm has a fifty day simple moving average of $34.52 and a 200 day simple moving average of $34.74. The stock has a market capitalization of $48.22 billion, a PE ratio of 11.06, a P/E/G ratio of 8.82 and a beta of 0.97.

Schlumberger (NYSE:SLB - Get Free Report) last announced its quarterly earnings results on Friday, July 18th. The oil and gas company reported $0.74 earnings per share (EPS) 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 business had revenue of $8.55 billion during the quarter, compared to the consensus estimate of $8.51 billion. During the same quarter last year, the firm posted $0.85 EPS. The company's quarterly revenue was down 6.5% on a year-over-year basis. On average, research analysts expect that Schlumberger Limited will post 3.38 EPS for the current fiscal year.

Schlumberger Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 9th. Shareholders of record on Wednesday, September 3rd were issued a dividend of $0.285 per share. The ex-dividend date of this dividend was Wednesday, September 3rd. This represents a $1.14 annualized dividend and a yield of 3.5%. Schlumberger's dividend payout ratio (DPR) is currently 39.04%.

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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