Schlumberger Limited (NYSE:SLB) Holdings Raised by Resources Investment Advisors LLC.

Posted by Defense World Staff on Aug 25th, 2023

Resources Investment Advisors LLC. raised its holdings in shares of Schlumberger Limited (NYSE:SLB – Free Report) by 42.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,812 shares of the oil and gas company’s stock after acquiring an additional 1,743 shares during the quarter. Resources Investment Advisors LLC.’s holdings in Schlumberger were worth $285,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in SLB. MAI Capital Management boosted its position in shares of Schlumberger by 3.0% during the 1st quarter. MAI Capital Management now owns 31,329 shares of the oil and gas company’s stock valued at $1,538,000 after acquiring an additional 927 shares in the last quarter. Bank of Hawaii bought a new stake in shares of Schlumberger in the 1st quarter valued at about $377,000. Clearstead Trust LLC increased its position in shares of Schlumberger by 905.0% in the 1st quarter. Clearstead Trust LLC now owns 26,491 shares of the oil and gas company’s stock valued at $1,301,000 after buying an additional 23,855 shares in the last quarter. Clifford Capital Partners LLC raised its stake in Schlumberger by 1.7% during the 1st quarter. Clifford Capital Partners LLC now owns 234,401 shares of the oil and gas company’s stock worth $11,509,000 after buying an additional 3,969 shares during the period. Finally, LPL Financial LLC lifted its holdings in shares of Schlumberger by 26.6% during the 1st quarter. LPL Financial LLC now owns 387,717 shares of the oil and gas company’s stock valued at $19,037,000 after purchasing an additional 81,568 shares in the last quarter. Institutional investors and hedge funds own 82.46% of the company’s stock.

Wall Street Analysts Forecast Growth

SLB has been the topic of several research analyst reports. Benchmark restated a “buy” rating and set a $65.00 target price on shares of Schlumberger in a report on Monday, July 24th. StockNews.com began coverage on shares of Schlumberger in a research note on Thursday, August 17th. They set a “hold” rating on the stock. Capital One Financial began coverage on Schlumberger in a report on Wednesday, June 7th. They set an “overweight” rating and a $63.00 price target for the company. HSBC decreased their target price on Schlumberger from $75.00 to $71.00 in a research report on Thursday, July 27th. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $62.00 target price on shares of Schlumberger in a report on Monday, July 24th. Two equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $65.60.

View Our Latest Research Report on SLB

Insider Transactions at Schlumberger

In other news, VP Kevin Fyfe sold 7,716 shares of the stock in a transaction that occurred on Wednesday, August 9th. The shares were sold at an average price of $59.34, for a total transaction of $457,867.44. Following the sale, the vice president now owns 28,316 shares in the company, valued at $1,680,271.44. The transaction was disclosed in a filing with the SEC, which is available at this link. In other news, VP Kevin Fyfe sold 7,716 shares of the firm’s stock in a transaction on Wednesday, August 9th. The shares were sold at an average price of $59.34, for a total transaction of $457,867.44. Following the sale, the vice president now directly owns 28,316 shares in the company, valued at approximately $1,680,271.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Katharina Beumelburg sold 5,500 shares of the firm’s stock in a transaction on Thursday, August 3rd. The shares were sold at an average price of $57.88, for a total transaction of $318,340.00. Following the transaction, the insider now directly owns 931 shares of the company’s stock, valued at $53,886.28. The disclosure for this sale can be found here. Over the last three months, insiders have sold 68,805 shares of company stock valued at $3,801,485. Insiders own 0.23% of the company’s stock.

Schlumberger Trading Down 1.9 %

NYSE SLB opened at $56.78 on Friday. The company has a current ratio of 1.33, a quick ratio of 0.97 and a debt-to-equity ratio of 0.60. The stock has a 50-day moving average of $54.64 and a 200-day moving average of $51.17. The firm has a market cap of $80.70 billion, a PE ratio of 20.72, a price-to-earnings-growth ratio of 0.73 and a beta of 1.81. Schlumberger Limited has a 1-year low of $33.80 and a 1-year high of $62.78.

Schlumberger (NYSE:SLB – Get Free Report) last posted its earnings results on Friday, July 21st. The oil and gas company reported $0.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.71 by $0.01. The company had revenue of $8.10 billion for the quarter, compared to analysts’ expectations of $8.20 billion. Schlumberger had a return on equity of 21.27% and a net margin of 12.63%. Schlumberger’s quarterly revenue was up 19.6% on a year-over-year basis. During the same period last year, the firm earned $0.50 earnings per share. As a group, sell-side analysts forecast that Schlumberger Limited will post 2.99 EPS for the current year.

Schlumberger Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 12th. Shareholders of record on Wednesday, September 6th will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.76%. The ex-dividend date of this dividend is Tuesday, September 5th. Schlumberger’s payout ratio is 36.50%.

Schlumberger Profile

(Free Report)

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, integration of adjacent energy systems; reservoir interpretation and data processing services for exploration data; and well construction and production improvement services and products.