Atlantic Union Bankshares Corp grew its holdings in Schlumberger Limited. (NYSE:SLB) by 3.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 35,957 shares of the oil and gas company’s stock after purchasing an additional 1,188 shares during the period. Atlantic Union Bankshares Corp’s holdings in Schlumberger were worth $1,445,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also modified their holdings of the company. Doyle Wealth Management acquired a new position in shares of Schlumberger in the 2nd quarter valued at about $33,000. AllSquare Wealth Management LLC acquired a new position in shares of Schlumberger in the 3rd quarter valued at about $37,000. Acima Private Wealth LLC increased its holdings in shares of Schlumberger by 34.1% in the 3rd quarter. Acima Private Wealth LLC now owns 1,239 shares of the oil and gas company’s stock valued at $42,000 after purchasing an additional 315 shares during the period. Ellis Investment Partners LLC increased its holdings in shares of Schlumberger by 256.2% in the 3rd quarter. Ellis Investment Partners LLC now owns 2,162 shares of the oil and gas company’s stock valued at $70,000 after purchasing an additional 1,555 shares during the period. Finally, Meeder Asset Management Inc. increased its holdings in shares of Schlumberger by 20.2% in the 3rd quarter. Meeder Asset Management Inc. now owns 2,305 shares of the oil and gas company’s stock valued at $79,000 after purchasing an additional 388 shares during the period. Institutional investors own 76.58% of the company’s stock.
A number of equities analysts have recently weighed in on SLB shares. Sanford C. Bernstein started coverage on Schlumberger in a report on Monday. They issued an “underperform” rating and a $27.10 target price on the stock. Morgan Stanley set a $50.00 target price on Schlumberger and gave the company a “buy” rating in a report on Monday, October 21st. Tudor Pickering raised Schlumberger from a “sell” rating to a “buy” rating and set a $40.00 price target for the company in a research note on Wednesday, November 20th. Deutsche Bank initiated coverage on Schlumberger in a research note on Wednesday, November 27th. They issued a “buy” rating and a $42.00 price target for the company. Finally, TheStreet cut Schlumberger from a “c” rating to a “d+” rating in a research note on Friday, October 18th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and fifteen have issued a buy rating to the stock. Schlumberger presently has a consensus rating of “Buy” and an average target price of $43.26.
Shares of NYSE SLB opened at $39.53 on Wednesday. The stock has a market cap of $55.14 billion, a price-to-earnings ratio of 24.40, a PEG ratio of 2.92 and a beta of 1.59. The business has a 50 day simple moving average of $38.84 and a 200 day simple moving average of $36.48. Schlumberger Limited. has a 52 week low of $30.65 and a 52 week high of $48.88. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.95 and a current ratio of 1.29.
Schlumberger (NYSE:SLB) last announced its quarterly earnings results on Friday, October 18th. The oil and gas company reported $0.43 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.40 by $0.03. The business had revenue of $8.54 billion during the quarter, compared to analysts’ expectations of $8.50 billion. Schlumberger had a positive return on equity of 6.00% and a negative net margin of 30.22%. The firm’s quarterly revenue was up .4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.46 EPS. On average, analysts predict that Schlumberger Limited. will post 1.45 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, January 10th. Shareholders of record on Wednesday, December 4th were given a dividend of $0.50 per share. The ex-dividend date of this dividend was Tuesday, December 3rd. This represents a $2.00 dividend on an annualized basis and a yield of 5.06%. Schlumberger’s payout ratio is currently 123.46%.
In other Schlumberger news, EVP Mogharbel Khaled Al sold 21,385 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $37.07, for a total transaction of $792,741.95. Following the completion of the sale, the executive vice president now owns 69,872 shares of the company’s stock, valued at $2,590,155.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Simon Farrant sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, October 21st. The stock was sold at an average price of $33.55, for a total value of $167,750.00. Following the sale, the vice president now directly owns 20,316 shares of the company’s stock, valued at approximately $681,601.80. The disclosure for this sale can be found here. Insiders have sold 104,735 shares of company stock valued at $3,762,614 in the last ninety days. Company insiders own 0.48% of the company’s stock.
Schlumberger Limited supplies technology for reservoir characterization, drilling, production, and processing to the oil and gas industry worldwide. The company's Reservoir Characterization segment offers reservoir interpretation and data processing services; open and cased-hole, and slickline services; exploration and production pressure and flow-rate measurement services; tubing-conveyed perforating services; integrated production systems; software, consulting, information management, and IT infrastructure services; reservoir characterization, field development planning, and production enhancement consulting services; petro technical data services and training solutions; and integrated management services.
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