Private Advisor Group LLC Has $6.99 Million Stock Holdings in Schlumberger Limited (NYSE:SLB)

Private Advisor Group LLC increased its position in Schlumberger Limited (NYSE:SLB - Free Report) by 7.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 167,111 shares of the oil and gas company's stock after buying an additional 12,277 shares during the period. Private Advisor Group LLC's holdings in Schlumberger were worth $6,985,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Price T Rowe Associates Inc. MD boosted its stake in Schlumberger by 7.4% during the 4th 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 purchasing an additional 5,225,828 shares during the last quarter. Geode Capital Management LLC boosted its stake in Schlumberger by 4.8% during the 4th 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 purchasing an additional 1,377,134 shares during the last quarter. Deutsche Bank AG boosted its stake in Schlumberger by 12.2% during the 4th 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 purchasing an additional 3,119,543 shares during the last quarter. Norges Bank acquired a new position in Schlumberger during the 4th quarter valued at about $735,398,000. Finally, Franklin Resources Inc. boosted its stake in Schlumberger by 12.4% during the 4th quarter. Franklin Resources Inc. now owns 15,396,967 shares of the oil and gas company's stock valued at $590,320,000 after purchasing an additional 1,700,203 shares during the last quarter. 81.99% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Director La Chevardiere Patrick De sold 5,000 shares of Schlumberger stock in a transaction that occurred 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 transaction, the director directly owned 23,525 shares in the company, valued at approximately $789,969.50. The trade was a 17.53% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.26% of the company's stock.

Wall Street Analyst Weigh In

SLB has been the subject of a number of analyst reports. Piper Sandler cut their price target on Schlumberger from $44.00 to $42.00 and set a "neutral" rating for the company in a research note on Friday. Wells Fargo & Company downgraded Schlumberger from a "buy" rating to an "equal weight" rating in a research note on Sunday. Jefferies Financial Group cut their price target on Schlumberger from $54.00 to $53.00 and set a "buy" rating for the company in a research note on Thursday, June 26th. Stifel Nicolaus dropped their target price on shares of Schlumberger from $54.00 to $52.00 and set a "buy" rating on the stock in a research report on Wednesday, July 16th. Finally, JPMorgan Chase & Co. dropped their target price on shares of Schlumberger from $46.00 to $44.00 and set an "overweight" rating on the stock in a research report on Monday, June 30th. Four analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, Schlumberger has an average rating of "Moderate Buy" and a consensus target price of $50.56.

Schlumberger Trading Down 3.7%

NYSE:SLB opened at $33.37 on Monday. 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 stock has a market capitalization of $45.39 billion, a PE ratio of 11.43, a price-to-earnings-growth ratio of 8.98 and a beta of 1.01. The firm's 50 day moving average is $34.86 and its 200 day moving average is $37.52. Schlumberger Limited has a 12 month low of $31.11 and a 12 month high of $50.52.

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

Schlumberger Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 9th. Investors of record on Wednesday, September 3rd will be paid a $0.285 dividend. This represents a $1.14 dividend on an annualized basis and a yield of 3.42%. Schlumberger's dividend payout ratio is 38.64%.

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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