CreativeOne Wealth LLC Has $345,000 Stake in Schlumberger Limited (NYSE:SLB)

CreativeOne Wealth LLC raised its stake in shares of Schlumberger Limited (NYSE:SLB) by 53.3% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 6,302 shares of the oil and gas company’s stock after acquiring an additional 2,192 shares during the quarter. CreativeOne Wealth LLC’s holdings in Schlumberger were worth $345,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in SLB. Shell Asset Management Co. boosted its holdings in shares of Schlumberger by 6.8% during the 1st quarter. Shell Asset Management Co. now owns 64,492 shares of the oil and gas company’s stock worth $3,535,000 after buying an additional 4,134 shares during the period. Crewe Advisors LLC acquired a new position in Schlumberger during the 1st quarter worth $79,000. Pitcairn Co. boosted its holdings in Schlumberger by 116.9% during the first quarter. Pitcairn Co. now owns 28,534 shares of the oil and gas company’s stock valued at $1,564,000 after acquiring an additional 15,380 shares during the period. Healthcare of Ontario Pension Plan Trust Fund grew its position in shares of Schlumberger by 41.7% in the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 205,000 shares of the oil and gas company’s stock valued at $11,236,000 after purchasing an additional 60,314 shares during the last quarter. Finally, CANADA LIFE ASSURANCE Co increased its stake in shares of Schlumberger by 9.5% in the first quarter. CANADA LIFE ASSURANCE Co now owns 3,449,934 shares of the oil and gas company’s stock worth $189,237,000 after purchasing an additional 298,264 shares during the period. Institutional investors and hedge funds own 81.99% of the company’s stock.

Insiders Place Their Bets

In other Schlumberger news, insider Bejar Carmen Rando sold 4,980 shares of the business’s stock in a transaction dated Friday, June 7th. The stock was sold at an average price of $43.43, for a total transaction of $216,281.40. Following the completion of the transaction, the insider now owns 22,518 shares of the company’s stock, valued at $977,956.74. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, insider Bejar Carmen Rando sold 4,980 shares of the stock in a transaction on Friday, June 7th. The stock was sold at an average price of $43.43, for a total value of $216,281.40. Following the completion of the transaction, the insider now directly owns 22,518 shares in the company, valued at approximately $977,956.74. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Stephane Biguet sold 50,048 shares of the business’s stock in a transaction on Monday, July 22nd. The stock was sold at an average price of $49.94, for a total value of $2,499,397.12. Following the sale, the chief financial officer now owns 203,076 shares in the company, valued at approximately $10,141,615.44. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 286,874 shares of company stock worth $14,148,517. Insiders own 0.26% of the company’s stock.

Analyst Ratings Changes

Several analysts recently weighed in on SLB shares. Citigroup decreased their target price on Schlumberger from $65.00 to $62.00 and set a “buy” rating for the company in a research note on Friday, June 28th. Bank of America lowered their price objective on shares of Schlumberger from $62.00 to $58.00 and set a “buy” rating on the stock in a research note on Monday, July 15th. Evercore ISI upped their target price on shares of Schlumberger from $73.00 to $74.00 and gave the company an “outperform” rating in a research note on Monday, July 22nd. HSBC restated a “buy” rating and issued a $71.00 price target on shares of Schlumberger in a research report on Thursday, April 4th. Finally, Benchmark reaffirmed a “buy” rating and set a $68.00 price objective on shares of Schlumberger in a research report on Monday, July 22nd. Two investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $67.56.

Schlumberger Trading Up 1.2 %

Shares of NYSE SLB traded up $0.60 during mid-day trading on Friday, hitting $48.83. The company’s stock had a trading volume of 8,231,538 shares, compared to its average volume of 8,735,330. Schlumberger Limited has a one year low of $42.61 and a one year high of $62.12. The company’s fifty day simple moving average is $46.32 and its 200-day simple moving average is $48.98. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.49 and a quick ratio of 1.13. The stock has a market cap of $69.33 billion, a price-to-earnings ratio of 16.22, a price-to-earnings-growth ratio of 1.03 and a beta of 1.55.

Schlumberger (NYSE:SLB) last announced 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. The firm had revenue of $9.14 billion for the quarter, compared to analysts’ expectations of $9.08 billion. Schlumberger had a net margin of 12.56% and a return on equity of 21.92%. The business’s revenue for the quarter was up 12.8% on a year-over-year basis. During the same period last year, the firm earned $0.72 earnings per share. On average, sell-side analysts anticipate that Schlumberger Limited will post 3.5 earnings per share for the current fiscal year.

Schlumberger Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 10th. Shareholders of record on Wednesday, September 4th will be issued a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a yield of 2.25%. The ex-dividend date is Wednesday, September 4th. Schlumberger’s dividend payout ratio (DPR) is currently 36.54%.

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.