Kestra Advisory Services LLC Boosts Position in Schlumberger Limited $SLB

Key Points

• Kestra Advisory Services LLC increased its holdings in Schlumberger Limited by 13.2%, owning 68,405 shares valued at approximately $2.86 million as of the last SEC filing.
• Schlumberger reported earnings of $0.74 per share for the last quarter, exceeding projections, but its revenue dropped by 6.5% year-over-year to $8.55 billion.
• The company has declared a quarterly dividend of $0.285, representing an annual yield of 3.1% with a payout ratio of 39.04%.

Kestra Advisory Services LLC raised its holdings in shares of Schlumberger Limited (NYSE:SLB - Free Report) by 13.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 68,405 shares of the oil and gas company's stock after buying an additional 7,968 shares during the period. Kestra Advisory Services LLC's holdings in Schlumberger were worth $2,859,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in SLB. First Command Advisory Services Inc. increased its position in shares of Schlumberger by 300.0% in the first quarter. First Command Advisory Services Inc. now owns 636 shares of the oil and gas company's stock valued at $27,000 after acquiring an additional 477 shares during the period. Atlas Capital Advisors Inc. purchased a new stake in shares of Schlumberger in the 1st quarter worth about $33,000. Alpine Bank Wealth Management purchased a new stake in shares of Schlumberger in the 1st quarter worth about $34,000. Park Square Financial Group LLC purchased a new stake in shares of Schlumberger in the 1st quarter worth about $38,000. Finally, N.E.W. Advisory Services LLC purchased a new stake in shares of Schlumberger in the 1st quarter worth about $40,000. 81.99% of the stock is currently owned by hedge funds and other institutional investors.

Schlumberger Stock Performance

Shares of Schlumberger stock traded down $0.88 during trading on Wednesday, hitting $35.02. 11,588,707 shares of the company's stock traded hands, compared to its average volume of 11,395,032. 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 $46.15. The stock has a market capitalization of $47.33 billion, a P/E ratio of 11.99, a PEG ratio of 10.22 and a beta of 1.05. The business has a 50-day simple moving average of $34.67 and a 200-day simple moving average of $36.08.

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 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 company had revenue of $8.55 billion for the quarter, compared to analysts' expectations of $8.51 billion. During the same period last year, the firm posted $0.85 earnings per share. Schlumberger's revenue was down 6.5% compared to the same quarter last year. As a group, analysts forecast that Schlumberger Limited will post 3.38 EPS 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 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 dividend yield of 3.3%. Schlumberger's dividend payout ratio (DPR) is 39.04%.

Analyst Ratings Changes

A number of research firms have recently weighed in on SLB. Morgan Stanley reduced their target price on shares of Schlumberger from $50.00 to $45.00 and set an "overweight" rating on the stock in a research report on Friday, May 16th. Melius began coverage on shares of Schlumberger in a research report on Wednesday, August 20th. They set a "buy" rating and a $82.00 price target for the company. Piper Sandler lowered their price target on Schlumberger from $44.00 to $42.00 and set a "neutral" rating for the company in a research report on Friday, July 18th. Atb Cap Markets raised Schlumberger from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, July 1st. Finally, Melius Research began coverage on Schlumberger in a research report on Wednesday, August 20th. They issued a "buy" rating and a $82.00 price target for the company. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $52.86.

Schlumberger Company 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.