LPL Financial LLC Purchases 112,354 Shares of Schlumberger Limited (NYSE:SLB)

Key Points

• LPL Financial LLC has increased its stake in Schlumberger Limited by 14.2%, now holding approximately 903,260 shares valued at $37.76 million.
• Analyst ratings for Schlumberger show a consensus of "Moderate Buy" with an average price target of $49.28, although some firms have recently downgraded their ratings.
• Schlumberger has announced a quarterly dividend of $0.285 per share, resulting in an annualized dividend yield of 3.5%.

LPL Financial LLC grew its stake in Schlumberger Limited (NYSE:SLB - Free Report) by 14.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 903,260 shares of the oil and gas company's stock after purchasing an additional 112,354 shares during the period. LPL Financial LLC owned approximately 0.07% of Schlumberger worth $37,756,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of SLB. Price T Rowe Associates Inc. MD boosted its holdings in shares of Schlumberger by 7.4% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 75,986,195 shares of the oil and gas company's stock worth $2,913,312,000 after acquiring an additional 5,225,828 shares in the last quarter. Deutsche Bank AG boosted its holdings in shares of Schlumberger by 12.2% in the 4th quarter. Deutsche Bank AG now owns 28,737,703 shares of the oil and gas company's stock worth $1,101,804,000 after acquiring an additional 3,119,543 shares in the last quarter. Northern Trust Corp boosted its holdings in shares of Schlumberger by 9.4% in the 4th quarter. Northern Trust Corp now owns 13,817,667 shares of the oil and gas company's stock worth $529,769,000 after acquiring an additional 1,192,399 shares in the last quarter. Sanders Capital LLC boosted its holdings in shares of Schlumberger by 1.9% in the 4th quarter. Sanders Capital LLC now owns 10,697,985 shares of the oil and gas company's stock worth $410,161,000 after acquiring an additional 203,766 shares in the last quarter. Finally, Invesco Ltd. boosted its holdings in shares of Schlumberger by 8.8% in the 4th quarter. Invesco Ltd. now owns 7,377,240 shares of the oil and gas company's stock worth $282,843,000 after acquiring an additional 596,008 shares in the last quarter. 81.99% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts have recently commented on the company. Atb Cap Markets raised Schlumberger from a "hold" rating to a "strong-buy" rating in a report on Tuesday, July 1st. Wells Fargo & Company lowered Schlumberger from a "strong-buy" rating to a "hold" rating in a research report on Sunday, July 20th. Piper Sandler decreased their price objective on Schlumberger from $44.00 to $42.00 and set a "neutral" rating on the stock in a research report on Friday, July 18th. Stifel Nicolaus decreased their price objective on Schlumberger from $54.00 to $52.00 and set a "buy" rating on the stock in a research report on Wednesday, July 16th. Finally, Jefferies Financial Group decreased their price objective on Schlumberger from $54.00 to $53.00 and set a "buy" rating on the stock in a research report on Thursday, June 26th. Four investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $49.28.

Schlumberger Trading Down 2.2%

Shares of SLB stock traded down $0.76 during trading hours on Friday, reaching $33.04. The company had a trading volume of 17,069,976 shares, compared to its average volume of 19,117,582. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.31 and a quick ratio of 0.98. Schlumberger Limited has a 1-year low of $31.11 and a 1-year high of $46.16. The company has a 50 day moving average of $34.78 and a 200 day moving average of $37.18. The firm has a market cap of $44.65 billion, a price-to-earnings ratio of 11.32, a P/E/G ratio of 9.17 and a beta of 1.03.

Schlumberger (NYSE:SLB - Get Free Report) last released its quarterly earnings data on Friday, July 18th. The oil and gas company reported $0.74 EPS for the quarter, beating analysts' consensus estimates of $0.73 by $0.01. Schlumberger had a net margin of 11.53% and a return on equity of 20.99%. The business had revenue of $8.55 billion during the quarter, compared to analysts' expectations of $8.51 billion. During the same quarter in the prior year, the company earned $0.85 EPS. The firm's quarterly revenue was down 6.5% on a year-over-year basis. On average, equities research analysts anticipate that Schlumberger Limited will post 3.38 EPS for the current year.

Schlumberger Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 9th. Investors of record on Wednesday, September 3rd will be given a $0.285 dividend. The ex-dividend date is Wednesday, September 3rd. This represents a $1.14 dividend on an annualized basis and a dividend yield of 3.5%. Schlumberger's dividend payout ratio is currently 39.04%.

Insider Activity at Schlumberger

In related news, Director La Chevardiere Patrick De sold 5,000 shares of the company's stock in a transaction on Thursday, May 22nd. The shares were sold at an average price of $33.58, for a total value of $167,900.00. Following the completion of the sale, the director owned 23,525 shares in the company, valued at $789,969.50. This represents a 17.53% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.26% of the stock is currently owned by corporate 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.