Moran Wealth Management LLC Buys 22,219 Shares of Schlumberger Limited $SLB

Key Points

• Moran Wealth Management LLC increased its stake in Schlumberger Limited by 28.3%, acquiring an additional 22,219 shares, bringing its total holdings to 100,826 shares valued at approximately $3.41 million.
• Insider Dianne B. Ralston sold 39,727 shares of Schlumberger at an average price of $36.08, representing a 16.42% decrease in her ownership.
• Analysts have mixed ratings on Schlumberger, with a consensus rating of Moderate Buy and a target price of $52.06, following several recent ratings changes by investment firms.

Moran Wealth Management LLC boosted its stake in shares of Schlumberger Limited (NYSE:SLB - Free Report) by 28.3% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 100,826 shares of the oil and gas company's stock after acquiring an additional 22,219 shares during the period. Moran Wealth Management LLC's holdings in Schlumberger were worth $3,408,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Nuveen LLC bought a new position in Schlumberger in the 1st quarter valued at about $169,232,000. Scharf Investments LLC boosted its position in shares of Schlumberger by 20.5% during the 1st quarter. Scharf Investments LLC now owns 1,653,895 shares of the oil and gas company's stock worth $69,133,000 after acquiring an additional 281,773 shares in the last quarter. Alan B Lancz & Associates Inc. bought a new position in Schlumberger in the first quarter valued at approximately $308,000. Shell Asset Management Co. raised its position in Schlumberger by 48.1% during the second quarter. Shell Asset Management Co. now owns 62,737 shares of the oil and gas company's stock valued at $2,121,000 after purchasing an additional 20,387 shares in the last quarter. Finally, Godsey & Gibb Inc. lifted its stake in Schlumberger by 9.6% during the second quarter. Godsey & Gibb Inc. now owns 493,092 shares of the oil and gas company's stock worth $16,667,000 after purchasing an additional 43,135 shares during the last quarter. 81.99% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Schlumberger

In other news, insider Dianne B. Ralston sold 39,727 shares of the stock in a transaction on Friday, September 12th. The shares were 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 directly owned 202,201 shares in the company, valued at $7,295,412.08. This represents a 16.42% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 0.22% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on SLB shares. Atb Cap Markets upgraded Schlumberger from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, July 1st. Wells Fargo & Company cut Schlumberger from a "strong-buy" rating to a "hold" rating in a research report on Sunday, July 20th. Piper Sandler dropped their target price on shares of Schlumberger from $44.00 to $42.00 and set a "neutral" rating for the company in a report on Friday, July 18th. Stifel Nicolaus reduced 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. Finally, Zacks Research raised shares of Schlumberger from a "strong sell" rating to a "hold" rating in a report on Monday, September 15th. Two analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $52.06.

Schlumberger Price Performance

Shares of NYSE:SLB opened at $32.55 on Thursday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.98 and a current ratio of 1.31. Schlumberger Limited has a 52 week low of $31.11 and a 52 week high of $44.97. The firm has a market cap of $48.62 billion, a PE ratio of 11.15, a price-to-earnings-growth ratio of 9.06 and a beta of 0.97. The firm's fifty day moving average is $34.49 and its 200-day moving average is $34.71.

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

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.

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