Schlumberger Limited $SLB Stake Lifted by Bay Harbor Wealth Management LLC

Bay Harbor Wealth Management LLC increased its stake in shares of Schlumberger Limited (NYSE:SLB) by 275.4% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,568 shares of the oil and gas company’s stock after buying an additional 1,884 shares during the quarter. Bay Harbor Wealth Management LLC’s holdings in Schlumberger were worth $87,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. First Command Advisory Services Inc. grew its stake 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 worth $27,000 after purchasing an additional 477 shares in the last quarter. Atlas Capital Advisors Inc. bought a new position in shares of Schlumberger in the first quarter worth $33,000. Alpine Bank Wealth Management bought a new position in shares of Schlumberger in the first quarter worth $34,000. Atticus Wealth Management LLC bought a new position in shares of Schlumberger in the second quarter worth $29,000. Finally, Park Square Financial Group LLC bought a new position in shares of Schlumberger in the first quarter worth $38,000. Institutional investors own 81.99% of the company’s stock.

Insider Buying and Selling at Schlumberger

In related news, insider Dianne B. Ralston sold 39,727 shares of the stock in a transaction on Friday, September 12th. The stock was sold at an average price of $36.08, for a total value of $1,433,350.16. Following the completion of the transaction, the insider owned 202,201 shares in the company, valued at $7,295,412.08. This trade represents a 16.42% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.22% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research firms have recently issued reports on SLB. Atb Cap Markets raised Schlumberger from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, July 1st. Zacks Research raised Schlumberger from a “strong sell” rating to a “hold” rating in a research note on Monday, September 15th. Stifel Nicolaus decreased their target price on Schlumberger from $54.00 to $52.00 and set a “buy” rating for the company in a research note on Wednesday, July 16th. Barclays decreased their target price on Schlumberger from $47.00 to $46.00 and set an “overweight” rating for the company in a research note on Monday, July 21st. Finally, Piper Sandler decreased their target price on Schlumberger from $44.00 to $42.00 and set a “neutral” rating for the company in a research note on Friday, July 18th. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $52.18.

Schlumberger Trading Up 0.4%

NYSE:SLB opened at $34.26 on Friday. The company has a quick ratio of 0.98, a current ratio of 1.31 and a debt-to-equity ratio of 0.51. Schlumberger Limited has a 1-year low of $31.11 and a 1-year high of $46.15. The firm has a market capitalization of $51.17 billion, a price-to-earnings ratio of 11.73, a price-to-earnings-growth ratio of 9.51 and a beta of 0.97. The stock has a fifty day simple moving average of $34.63 and a 200 day simple moving average of $35.15.

Schlumberger (NYSE:SLB) last released its quarterly earnings results on Friday, July 18th. The oil and gas company reported $0.74 earnings per share for the quarter, beating analysts’ consensus estimates of $0.73 by $0.01. Schlumberger had a return on equity of 20.99% and a net margin of 11.53%.The business had revenue of $8.55 billion during the quarter, compared to analyst estimates of $8.51 billion. During the same quarter last year, the company posted $0.85 EPS. Schlumberger’s revenue for the quarter was down 6.5% on a year-over-year basis. Sell-side analysts forecast that Schlumberger Limited will post 3.38 earnings per share for the current year.

Schlumberger Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 9th. Investors of record on Wednesday, September 3rd will be given a $0.285 dividend. The ex-dividend date is Wednesday, September 3rd. This represents a $1.14 dividend on an annualized basis and a dividend yield of 3.3%. Schlumberger’s dividend payout ratio (DPR) is 39.04%.

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.