Sound View Wealth Advisors Group LLC Acquires 573 Shares of Schlumberger Limited (NYSE:SLB)

Sound View Wealth Advisors Group LLC increased its holdings in Schlumberger Limited (NYSE:SLB) by 5.4% in the 4th quarter, Holdings Channel reports. The fund owned 11,211 shares of the oil and gas company’s stock after buying an additional 573 shares during the quarter. Sound View Wealth Advisors Group LLC’s holdings in Schlumberger were worth $430,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Prospera Private Wealth LLC bought a new position in shares of Schlumberger during the third quarter valued at approximately $29,000. YANKCOM Partnership bought a new position in Schlumberger during the 4th quarter valued at approximately $31,000. Stonebridge Financial Group LLC bought a new position in Schlumberger during the 4th quarter valued at approximately $32,000. Golden State Wealth Management LLC purchased a new position in Schlumberger during the fourth quarter valued at $34,000. Finally, Ashton Thomas Securities LLC bought a new stake in Schlumberger in the third quarter worth $37,000. 81.99% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, EVP Mogharbel Khaled Al sold 123,097 shares of the stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $44.09, for a total value of $5,427,346.73. Following the completion of the sale, the executive vice president now directly owns 184,626 shares of the company’s stock, valued at $8,140,160.34. This represents a 40.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Ugo Prechner sold 7,000 shares of Schlumberger stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $44.20, for a total transaction of $309,400.00. Following the transaction, the vice president now owns 11,240 shares in the company, valued at approximately $496,808. This trade represents a 38.38 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 290,772 shares of company stock valued at $12,546,660 in the last ninety days. Corporate insiders own 0.26% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on SLB. Griffin Securities downgraded Schlumberger from a “buy” rating to a “neutral” rating in a report on Friday, December 20th. JPMorgan Chase & Co. lifted their target price on shares of Schlumberger from $48.00 to $50.00 and gave the stock an “overweight” rating in a report on Tuesday, January 21st. Piper Sandler initiated coverage on shares of Schlumberger in a research note on Thursday, December 19th. They issued a “neutral” rating and a $47.00 target price on the stock. Citigroup raised their price target on shares of Schlumberger from $50.00 to $54.00 and gave the company a “buy” rating in a research report on Tuesday, January 21st. Finally, TD Cowen upped their price objective on Schlumberger from $53.00 to $55.00 and gave the company a “buy” rating in a research report on Tuesday, January 21st. Six investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Schlumberger presently has an average rating of “Moderate Buy” and an average price target of $55.81.

Schlumberger Stock Performance

SLB opened at $41.36 on Monday. Schlumberger Limited has a 12-month low of $36.52 and a 12-month high of $55.69. The company has a market cap of $56.25 billion, a price-to-earnings ratio of 13.30, a PEG ratio of 10.10 and a beta of 1.47. The company has a current ratio of 1.45, a quick ratio of 1.11 and a debt-to-equity ratio of 0.49. The company’s 50 day moving average is $40.73 and its 200 day moving average is $41.63.

Schlumberger (NYSE:SLB) last issued its quarterly earnings results on Friday, January 17th. The oil and gas company reported $0.92 earnings per share for the quarter, topping the consensus estimate of $0.90 by $0.02. Schlumberger had a net margin of 12.29% and a return on equity of 21.90%. The business had revenue of $9.28 billion for the quarter, compared to analysts’ expectations of $9.24 billion. During the same quarter last year, the company posted $0.86 EPS. The company’s revenue was up 3.3% compared to the same quarter last year. On average, equities research analysts predict that Schlumberger Limited will post 3.38 EPS for the current year.

Schlumberger Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 3rd. Stockholders of record on Wednesday, February 5th will be paid a $0.285 dividend. The ex-dividend date of this dividend is Wednesday, February 5th. This represents a $1.14 annualized dividend and a dividend yield of 2.76%. This is an increase from Schlumberger’s previous quarterly dividend of $0.28. Schlumberger’s dividend payout ratio (DPR) is 36.66%.

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.