Lineweaver Wealth Advisors LLC Buys New Position in Schlumberger Limited $SLB

Key Points

• Lineweaver Wealth Advisors LLC acquired 16,920 shares of Schlumberger Limited in Q2, valued at approximately $572,000, according to its recent SEC filing.
• Institutional investors now own 81.99% of Schlumberger's stock, with notable increases from firms like Charles Schwab Investment Management (478.8% increase) and Banque Transatlantique SA (21,737.8% increase).
• Schlumberger declared a quarterly dividend of $0.285 per share to be paid on October 9th, resulting in an annualized dividend of $1.14 and a yield of 3.2%.

Lineweaver Wealth Advisors LLC purchased a new position in Schlumberger Limited (NYSE:SLB - Free Report) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 16,920 shares of the oil and gas company's stock, valued at approximately $572,000.

A number of other large investors also recently made changes to their positions in the company. LifePlan Financial LLC lifted its position in shares of Schlumberger by 12.2% during the second quarter. LifePlan Financial LLC now owns 26,059 shares of the oil and gas company's stock valued at $881,000 after purchasing an additional 2,832 shares in the last quarter. Czech National Bank raised its position in shares of Schlumberger by 3.3% in the second quarter. Czech National Bank now owns 332,471 shares of the oil and gas company's stock valued at $11,238,000 after purchasing an additional 10,718 shares during the period. Canandaigua National Trust Co of Florida raised its position in shares of Schlumberger by 44.2% in the second quarter. Canandaigua National Trust Co of Florida now owns 26,451 shares of the oil and gas company's stock valued at $894,000 after purchasing an additional 8,110 shares during the period. Canandaigua National Bank & Trust Co. raised its position in shares of Schlumberger by 22.3% in the second quarter. Canandaigua National Bank & Trust Co. now owns 60,701 shares of the oil and gas company's stock valued at $2,052,000 after purchasing an additional 11,081 shares during the period. Finally, Bard Financial Services Inc. grew its stake in Schlumberger by 15.1% during the second quarter. Bard Financial Services Inc. now owns 9,150 shares of the oil and gas company's stock valued at $309,000 after acquiring an additional 1,200 shares in the last quarter. 81.99% of the stock is owned by institutional investors.

Schlumberger Trading Down 0.8%

Schlumberger stock traded down $0.27 during midday trading on Friday, reaching $34.47. 33,102,000 shares of the stock traded hands, compared to its average volume of 15,493,405. The company has a 50-day simple moving average of $34.66 and a two-hundred day simple moving average of $35.57. 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 market cap of $51.49 billion, a PE ratio of 11.80, a price-to-earnings-growth ratio of 9.56 and a beta of 1.05. Schlumberger Limited has a 12-month low of $31.11 and a 12-month high of $46.15.

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 during the quarter, compared to analysts' expectations of $8.51 billion. Schlumberger had a return on equity of 20.99% and a net margin of 11.53%.The business's quarterly revenue was down 6.5% compared to the same quarter last year. During the same quarter last year, the business posted $0.85 EPS. Research analysts expect that Schlumberger Limited will post 3.38 earnings per share for the current fiscal year.

Schlumberger Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 9th. Shareholders of record on Wednesday, September 3rd will be given a dividend of $0.285 per share. The ex-dividend date of this dividend is Wednesday, September 3rd. This represents a $1.14 annualized dividend and a yield of 3.3%. Schlumberger's payout ratio is 39.04%.

Insider Activity

In other news, insider Dianne B. Ralston sold 39,727 shares of the business's stock in a transaction that occurred on Friday, September 12th. The stock was sold at an average price of $36.08, for a total value of $1,433,350.16. Following the transaction, the insider owned 202,201 shares of the company's stock, valued at approximately $7,295,412.08. The trade was a 16.42% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.22% of the company's stock.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. Stifel Nicolaus reduced their price objective 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. Atb Cap Markets upgraded shares of Schlumberger from a "hold" rating to a "strong-buy" rating in a report on Tuesday, July 1st. UBS Group decreased their target price on shares of Schlumberger from $45.00 to $44.00 and set a "buy" rating on the stock in a research note on Wednesday, August 20th. Piper Sandler reduced their price target on shares of Schlumberger from $44.00 to $42.00 and set a "neutral" rating on the stock in a research report on Friday, July 18th. Finally, Barclays lowered 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. Two research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and five have given a Hold rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $52.18.

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.