Schlumberger Limited (NYSE:SLB) Shares Purchased by Arkadios Wealth Advisors

Key Points

• Arkadios Wealth Advisors increased its stake in Schlumberger Limited by 108.9% in the first quarter, acquiring an additional 29,803 shares, raising their total ownership to 57,169 shares valued at approximately $2.39 million.
• Several other investors, including Dynamic Technology Lab and Integrated Advisors Network, also significantly increased their holdings in Schlumberger during the last quarter, reflecting growing institutional interest.
• The company announced a quarterly dividend of $0.285 per share, indicating a 3.4% dividend yield, with a payout ratio of 39.04% as of the most recent reporting period.

Arkadios Wealth Advisors lifted its holdings in Schlumberger Limited (NYSE:SLB - Free Report) by 108.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 57,169 shares of the oil and gas company's stock after acquiring an additional 29,803 shares during the period. Arkadios Wealth Advisors' holdings in Schlumberger were worth $2,390,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of SLB. Dynamic Technology Lab Private Ltd grew its stake in Schlumberger by 32.2% during the 4th quarter. Dynamic Technology Lab Private Ltd now owns 71,390 shares of the oil and gas company's stock valued at $2,737,000 after purchasing an additional 17,405 shares in the last quarter. Scharf Investments LLC grew its stake in 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 valued at $69,133,000 after purchasing an additional 281,773 shares in the last quarter. Integrated Advisors Network LLC grew its stake in Schlumberger by 810.4% during the 1st quarter. Integrated Advisors Network LLC now owns 75,163 shares of the oil and gas company's stock valued at $3,142,000 after purchasing an additional 66,907 shares in the last quarter. Alan B Lancz & Associates Inc. acquired a new stake in Schlumberger during the 1st quarter valued at approximately $308,000. Finally, Stratos Investment Management LLC grew its stake in Schlumberger by 236.0% during the 1st quarter. Stratos Investment Management LLC now owns 146,908 shares of the oil and gas company's stock valued at $6,141,000 after purchasing an additional 103,182 shares in the last quarter. Institutional investors and hedge funds own 81.99% of the company's stock.

Insider Buying and Selling at Schlumberger

In related news, Director La Chevardiere Patrick De sold 5,000 shares of the business's stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $33.58, for a total transaction of $167,900.00. Following the completion of the transaction, the director owned 23,525 shares of the company's stock, valued at approximately $789,969.50. The trade was a 17.53% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.26% of the company's stock.

Schlumberger Price Performance

Shares of NYSE:SLB opened at $33.80 on Friday. The business has a 50-day moving average of $34.79 and a two-hundred day moving average of $37.28. 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 fifty-two week low of $31.11 and a fifty-two week high of $48.57. The stock has a market capitalization of $45.67 billion, a P/E ratio of 11.58, a P/E/G ratio of 9.48 and a beta of 1.01.

Schlumberger (NYSE:SLB - Get Free Report) last posted its earnings results on Friday, July 18th. The oil and gas company reported $0.74 earnings per share 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 firm had revenue of $8.55 billion during the quarter, compared to analyst estimates of $8.51 billion. During the same period in the previous year, the company earned $0.85 EPS. The company's revenue for the quarter was down 6.5% on a year-over-year basis. On average, equities research analysts predict that Schlumberger Limited will post 3.38 EPS for the current fiscal year.

Schlumberger Dividend Announcement

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 given a dividend of $0.285 per share. This represents a $1.14 annualized dividend and a dividend yield of 3.4%. The ex-dividend date of this dividend is Wednesday, September 3rd. Schlumberger's payout ratio is currently 39.04%.

Analyst Ratings Changes

SLB has been the subject of a number of recent analyst reports. Atb Cap Markets upgraded Schlumberger from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, July 1st. UBS Group raised their price target on Schlumberger from $44.00 to $45.00 and gave the stock a "buy" rating in a report on Wednesday, July 2nd. JPMorgan Chase & Co. cut their price target on Schlumberger from $46.00 to $44.00 and set an "overweight" rating on the stock in a report on Monday, June 30th. Piper Sandler cut their target price on Schlumberger from $44.00 to $42.00 and set a "neutral" rating on the stock in a research note on Friday, July 18th. Finally, Stifel Nicolaus lowered their price target on Schlumberger from $54.00 to $52.00 and set a "buy" rating on the stock in a research report on Wednesday, July 16th. Four analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $49.28.

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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