J.W. Cole Advisors Inc. Grows Holdings in Schlumberger Limited (NYSE:SLB)

J.W. Cole Advisors Inc. increased its stake in shares of Schlumberger Limited (NYSE:SLB - Free Report) by 84.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 41,155 shares of the oil and gas company's stock after acquiring an additional 18,838 shares during the quarter. J.W. Cole Advisors Inc.'s holdings in Schlumberger were worth $1,720,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Price T Rowe Associates Inc. MD raised its holdings in shares of Schlumberger by 7.4% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 75,986,195 shares of the oil and gas company's stock valued at $2,913,312,000 after buying an additional 5,225,828 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Schlumberger by 4.8% in the fourth quarter. Geode Capital Management LLC now owns 29,985,360 shares of the oil and gas company's stock valued at $1,146,195,000 after buying an additional 1,377,134 shares during the last quarter. Deutsche Bank AG raised its holdings in shares of Schlumberger by 12.2% in the fourth quarter. Deutsche Bank AG now owns 28,737,703 shares of the oil and gas company's stock valued at $1,101,804,000 after buying an additional 3,119,543 shares during the last quarter. Norges Bank acquired a new position in shares of Schlumberger during the fourth quarter worth about $735,398,000. Finally, Franklin Resources Inc. increased its stake in shares of Schlumberger by 12.4% during the fourth quarter. Franklin Resources Inc. now owns 15,396,967 shares of the oil and gas company's stock worth $590,320,000 after acquiring an additional 1,700,203 shares during the period. 81.99% of the stock is currently owned by institutional investors and hedge funds.

Schlumberger Price Performance

Shares of NYSE SLB traded up $0.24 on Friday, hitting $35.48. The company's stock had a trading volume of 11,459,659 shares, compared to its average volume of 18,384,440. Schlumberger Limited has a 12-month low of $31.11 and a 12-month high of $49.31. The company has a market capitalization of $48.26 billion, a price-to-earnings ratio of 12.15, a price-to-earnings-growth ratio of 9.70 and a beta of 1.01. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.31 and a quick ratio of 0.98. The stock has a 50 day moving average of $34.75 and a 200-day moving average of $37.40.

Schlumberger (NYSE:SLB - Get Free Report) last announced its quarterly earnings data 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. The business had revenue of $8.55 billion for the quarter, compared to the consensus estimate of $8.51 billion. Schlumberger had a net margin of 11.53% and a return on equity of 20.99%. The company's quarterly revenue was down 6.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.85 earnings per share. As a group, research analysts predict that Schlumberger Limited will post 3.38 EPS for the current year.

Schlumberger Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 9th. Shareholders of record on Wednesday, September 3rd will be paid a dividend of $0.285 per share. This represents a $1.14 dividend on an annualized basis and a yield of 3.21%. The ex-dividend date is Wednesday, September 3rd. Schlumberger's dividend payout ratio is currently 39.04%.

Analysts Set New Price Targets

SLB has been the topic of a number of recent analyst reports. Piper Sandler dropped their price target on shares of Schlumberger from $44.00 to $42.00 and set a "neutral" rating on the stock in a research note on Friday, July 18th. Morgan Stanley dropped their price target on shares of Schlumberger from $50.00 to $45.00 and set an "overweight" rating on the stock in a research note on Friday, May 16th. Atb Cap Markets upgraded shares of Schlumberger from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, July 1st. Wells Fargo & Company lowered shares of Schlumberger from a "strong-buy" rating to a "hold" rating in a research note on Sunday, July 20th. Finally, Stifel Nicolaus dropped their price target on shares of Schlumberger from $54.00 to $52.00 and set a "buy" rating on the stock in a research note on Wednesday, July 16th. 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 stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $49.28.

Insiders Place Their Bets

In other Schlumberger news, Director La Chevardiere Patrick De sold 5,000 shares of the stock in a transaction that occurred on Thursday, May 22nd. The shares were sold at an average price of $33.58, for a total transaction of $167,900.00. Following the transaction, the director owned 23,525 shares of the company's stock, valued at $789,969.50. This trade represents a 17.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.26% of the stock is currently owned by corporate insiders.

About Schlumberger

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.