Kiker Wealth Management LLC Takes Position in Schlumberger Limited $SLB

Key Points

• Kiker Wealth Management LLC acquired 16,871 shares of Schlumberger Limited, valued at approximately $570,000, marking a significant new investment during the 2nd quarter.
• Several institutional investors, including Charles Schwab Investment Management Inc., have increased their stakes in Schlumberger significantly, indicating growing confidence in the company.
• Schlumberger recently reported a quarterly earnings per share (EPS) of $0.74, exceeding estimates, while announcing a quarterly dividend of $0.285, reflecting a yield of 3.5%.

Kiker Wealth Management LLC bought a new stake in shares of Schlumberger Limited (NYSE:SLB - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 16,871 shares of the oil and gas company's stock, valued at approximately $570,000.

Several other large investors have also recently made changes to their positions in the business. Charles Schwab Investment Management Inc. increased its position in shares of Schlumberger by 478.8% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 47,719,476 shares of the oil and gas company's stock valued at $1,994,674,000 after purchasing an additional 39,474,501 shares during the last quarter. Boston Partners increased its position in shares of Schlumberger by 27.7% during the 1st quarter. Boston Partners now owns 19,829,381 shares of the oil and gas company's stock valued at $824,160,000 after purchasing an additional 4,300,222 shares during the last quarter. Northern Trust Corp increased its position in shares of Schlumberger by 4.4% during the 1st quarter. Northern Trust Corp now owns 14,422,499 shares of the oil and gas company's stock valued at $602,860,000 after purchasing an additional 604,832 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of Schlumberger by 22.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 8,989,115 shares of the oil and gas company's stock valued at $375,738,000 after purchasing an additional 1,667,203 shares during the last quarter. Finally, Invesco Ltd. increased its position in shares of Schlumberger by 3.8% during the 1st quarter. Invesco Ltd. now owns 7,659,177 shares of the oil and gas company's stock valued at $320,154,000 after purchasing an additional 281,937 shares during the last quarter. 81.99% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

SLB has been the subject of several research reports. Atb Cap Markets upgraded Schlumberger from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, July 1st. Stifel Nicolaus cut their price target on Schlumberger from $54.00 to $52.00 and set a "buy" rating for the company in a research note on Wednesday, July 16th. Zacks Research upgraded Schlumberger from a "strong sell" rating to a "hold" rating in a research note on Monday, September 15th. Wells Fargo & Company downgraded Schlumberger from a "strong-buy" rating to a "hold" rating in a research note on Sunday, July 20th. Finally, Barclays cut their price target on Schlumberger from $47.00 to $46.00 and set an "overweight" rating for the company in a research note on Monday, July 21st. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $52.06.

Schlumberger Stock Up 1.8%

Shares of NYSE SLB opened at $32.28 on Tuesday. Schlumberger Limited has a 52 week low of $31.11 and a 52 week high of $44.97. The business has a 50-day simple moving average of $34.52 and a two-hundred day simple moving average of $34.74. The company has a quick ratio of 0.98, a current ratio of 1.31 and a debt-to-equity ratio of 0.51. The company has a market cap of $48.22 billion, a P/E 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 issued its earnings results on Friday, July 18th. The oil and gas company reported $0.74 EPS for the quarter, topping 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 company earned $0.85 EPS. The firm's revenue was down 6.5% compared to the same quarter last year. Research analysts anticipate that Schlumberger Limited will post 3.38 earnings per share for the current fiscal year.

Schlumberger Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 9th. Shareholders of record on Wednesday, September 3rd were paid a $0.285 dividend. The ex-dividend date 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%.

Insider Activity

In other news, insider Dianne B. Ralston sold 39,727 shares of Schlumberger stock in a transaction dated 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 in the company, valued at approximately $7,295,412.08. This trade represents a 16.42% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.22% of the company's stock.

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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