Kestra Private Wealth Services LLC Raises Stock Holdings in Schlumberger Limited (NYSE:SLB)

Kestra Private Wealth Services LLC boosted its holdings in shares of Schlumberger Limited (NYSE:SLB) by 5.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 81,941 shares of the oil and gas company’s stock after acquiring an additional 4,497 shares during the quarter. Kestra Private Wealth Services LLC’s holdings in Schlumberger were worth $3,142,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of SLB. Exchange Traded Concepts LLC grew its holdings in shares of Schlumberger by 205.6% in the third quarter. Exchange Traded Concepts LLC now owns 15,636 shares of the oil and gas company’s stock worth $656,000 after purchasing an additional 10,520 shares during the last quarter. CVA Family Office LLC grew its stake in Schlumberger by 54.6% in the 3rd quarter. CVA Family Office LLC now owns 3,441 shares of the oil and gas company’s stock worth $144,000 after acquiring an additional 1,215 shares in the last quarter. Thomasville National Bank purchased a new position in shares of Schlumberger during the third quarter worth approximately $202,000. Thurston Springer Miller Herd & Titak Inc. raised its stake in shares of Schlumberger by 47.4% during the third quarter. Thurston Springer Miller Herd & Titak Inc. now owns 4,827 shares of the oil and gas company’s stock valued at $202,000 after acquiring an additional 1,553 shares in the last quarter. Finally, Paladin Wealth LLC purchased a new stake in shares of Schlumberger in the third quarter valued at approximately $521,000. Institutional investors own 81.99% of the company’s stock.

Analysts Set New Price Targets

SLB has been the topic of several research reports. Atb Cap Markets downgraded Schlumberger from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 10th. Jefferies Financial Group decreased their price objective on Schlumberger from $64.00 to $61.00 and set a “buy” rating for the company in a report on Friday, January 3rd. Piper Sandler began coverage on shares of Schlumberger in a research note on Thursday, December 19th. They issued a “neutral” rating and a $47.00 price objective for the company. Barclays cut their target price on shares of Schlumberger from $61.00 to $53.00 and set an “overweight” rating on the stock in a research report on Wednesday, December 18th. Finally, Evercore ISI reaffirmed an “in-line” rating and issued a $44.00 price target (down previously from $62.00) on shares of Schlumberger in a research report on Wednesday, January 15th. Six equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $55.81.

Insiders Place Their Bets

In related news, EVP Abdellah Merad sold 60,000 shares of Schlumberger stock in a transaction dated Wednesday, January 29th. The stock was sold at an average price of $41.44, for a total transaction of $2,486,400.00. Following the completion of the sale, the executive vice president now owns 210,502 shares of the company’s stock, valued at $8,723,202.88. The trade was a 22.18 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Ugo Prechner sold 7,000 shares of the stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $44.20, for a total transaction of $309,400.00. Following the completion of the transaction, the vice president now owns 11,240 shares in the company, valued at approximately $496,808. This trade represents a 38.38 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 263,782 shares of company stock valued at $11,442,229. 0.26% of the stock is owned by company insiders.

Schlumberger Price Performance

Shares of SLB stock opened at $41.19 on Tuesday. The firm has a market capitalization of $57.71 billion, a price-to-earnings ratio of 13.25, a PEG ratio of 9.49 and a beta of 1.51. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.11 and a current ratio of 1.45. The stock’s 50-day simple moving average is $40.17 and its 200-day simple moving average is $42.19. Schlumberger Limited has a fifty-two week low of $36.52 and a fifty-two week high of $55.69.

Schlumberger (NYSE:SLB) last issued its quarterly earnings results on Friday, January 17th. The oil and gas company reported $0.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.90 by $0.02. The business had revenue of $9.28 billion for the quarter, compared to analyst estimates of $9.24 billion. Schlumberger had a net margin of 12.29% and a return on equity of 21.90%. Schlumberger’s revenue for the quarter was up 3.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.86 EPS. As a group, equities analysts forecast that Schlumberger Limited will post 3.38 earnings per share for the current fiscal year.

Schlumberger Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 3rd. Investors of record on Wednesday, February 5th will be paid a $0.285 dividend. This is a positive change from Schlumberger’s previous quarterly dividend of $0.28. The ex-dividend date is Wednesday, February 5th. This represents a $1.14 dividend on an annualized basis and a yield of 2.77%. Schlumberger’s dividend payout ratio (DPR) is 36.66%.

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.