Stablepoint Partners LLC Acquires 982 Shares of Schlumberger Limited (NYSE:SLB)

Stablepoint Partners LLC lifted its holdings in Schlumberger Limited (NYSE:SLB) by 4.3% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 23,840 shares of the oil and gas company’s stock after acquiring an additional 982 shares during the period. Stablepoint Partners LLC’s holdings in Schlumberger were worth $1,000,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Financial Advocates Investment Management grew its holdings in Schlumberger by 3.4% during the 2nd quarter. Financial Advocates Investment Management now owns 6,558 shares of the oil and gas company’s stock valued at $309,000 after buying an additional 218 shares in the last quarter. Chilton Capital Management LLC increased its position in Schlumberger by 0.8% in the second quarter. Chilton Capital Management LLC now owns 26,202 shares of the oil and gas company’s stock worth $1,236,000 after purchasing an additional 219 shares during the last quarter. First PREMIER Bank raised its stake in Schlumberger by 8.7% during the second quarter. First PREMIER Bank now owns 2,842 shares of the oil and gas company’s stock valued at $134,000 after purchasing an additional 227 shares in the last quarter. Team Hewins LLC raised its stake in Schlumberger by 3.0% during the first quarter. Team Hewins LLC now owns 7,924 shares of the oil and gas company’s stock valued at $436,000 after purchasing an additional 229 shares in the last quarter. Finally, Sunbelt Securities Inc. grew its stake in shares of Schlumberger by 2.2% in the 1st quarter. Sunbelt Securities Inc. now owns 10,551 shares of the oil and gas company’s stock worth $578,000 after buying an additional 230 shares in the last quarter. Hedge funds and other institutional investors own 81.99% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the stock. Morgan Stanley decreased their target price on shares of Schlumberger from $65.00 to $60.00 and set an “overweight” rating on the stock in a research report on Monday, September 16th. Evercore ISI upped their price objective on Schlumberger from $73.00 to $74.00 and gave the company an “outperform” rating in a research report on Monday, July 22nd. Dbs Bank started coverage on Schlumberger in a report on Wednesday, September 18th. They issued a “buy” rating and a $64.50 target price for the company. BMO Capital Markets decreased their price target on Schlumberger from $60.00 to $58.00 and set an “outperform” rating on the stock in a report on Thursday, October 10th. Finally, Piper Sandler dropped their price objective on shares of Schlumberger from $71.00 to $66.00 and set an “overweight” rating for the company in a research note on Monday, July 15th. Two research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $63.19.

Schlumberger Stock Down 0.2 %

Shares of NYSE:SLB opened at $44.70 on Tuesday. Schlumberger Limited has a 12-month low of $38.66 and a 12-month high of $61.20. The stock’s 50-day moving average price is $43.12 and its two-hundred day moving average price is $46.29. The firm has a market cap of $63.47 billion, a price-to-earnings ratio of 14.61, a PEG ratio of 0.96 and a beta of 1.51. The company has a current ratio of 1.49, a quick ratio of 1.13 and a debt-to-equity ratio of 0.55.

Schlumberger (NYSE:SLB) last released its quarterly earnings data on Friday, July 19th. The oil and gas company reported $0.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.83 by $0.02. Schlumberger had a return on equity of 21.92% and a net margin of 12.56%. The business had revenue of $9.14 billion during the quarter, compared to analyst estimates of $9.08 billion. During the same quarter in the previous year, the firm posted $0.72 EPS. The business’s revenue for the quarter was up 12.8% compared to the same quarter last year. On average, research analysts forecast that Schlumberger Limited will post 3.47 EPS for the current year.

Schlumberger Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 10th. Investors of record on Wednesday, September 4th were given a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a yield of 2.46%. The ex-dividend date of this dividend was Wednesday, September 4th. Schlumberger’s payout ratio is 35.95%.

Insider Buying and Selling

In other Schlumberger news, Director Vijay Kasibhatla sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, July 22nd. The stock was sold at an average price of $49.29, for a total transaction of $492,900.00. Following the completion of the sale, the director now owns 62,354 shares of the company’s stock, valued at $3,073,428.66. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Schlumberger news, EVP Mogharbel Khaled Al sold 120,668 shares of the company’s stock in a transaction on Monday, July 22nd. The shares were sold at an average price of $50.19, for a total transaction of $6,056,326.92. Following the sale, the executive vice president now directly owns 247,699 shares of the company’s stock, valued at approximately $12,432,012.81. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Vijay Kasibhatla sold 10,000 shares of the company’s stock in a transaction dated Monday, July 22nd. The shares were sold at an average price of $49.29, for a total transaction of $492,900.00. Following the completion of the transaction, the director now owns 62,354 shares in the company, valued at approximately $3,073,428.66. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 180,716 shares of company stock valued at $9,048,624. Corporate insiders own 0.26% of the company’s stock.

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.