Providence Capital Advisors LLC Raises Stake in Schlumberger Limited (NYSE:SLB)

Providence Capital Advisors LLC raised its stake in Schlumberger Limited (NYSE:SLB) by 0.6% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 122,997 shares of the oil and gas company’s stock after purchasing an additional 794 shares during the quarter. Providence Capital Advisors LLC’s holdings in Schlumberger were worth $5,803,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Carolinas Wealth Consulting LLC lifted its position in Schlumberger by 53.5% in the fourth quarter. Carolinas Wealth Consulting LLC now owns 1,960 shares of the oil and gas company’s stock valued at $102,000 after purchasing an additional 683 shares during the last quarter. Crescent Grove Advisors LLC bought a new position in shares of Schlumberger during the second quarter valued at approximately $257,000. National Bank of Canada FI raised its holdings in shares of Schlumberger by 15.0% during the first quarter. National Bank of Canada FI now owns 396,382 shares of the oil and gas company’s stock valued at $21,726,000 after acquiring an additional 51,637 shares in the last quarter. Mission Wealth Management LP bought a new position in shares of Schlumberger during the first quarter valued at approximately $245,000. Finally, Canada Pension Plan Investment Board raised its holdings in shares of Schlumberger by 9.0% during the first quarter. Canada Pension Plan Investment Board now owns 788,484 shares of the oil and gas company’s stock valued at $43,217,000 after acquiring an additional 64,974 shares in the last quarter. Institutional investors own 81.99% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on SLB shares. Evercore ISI upped their target price on Schlumberger from $73.00 to $74.00 and gave the company an “outperform” rating in a report on Monday, July 22nd. Citigroup decreased their price objective on Schlumberger from $65.00 to $62.00 and set a “buy” rating for the company in a report on Friday, June 28th. Barclays decreased their price objective on Schlumberger from $70.00 to $67.00 and set an “overweight” rating for the company in a report on Tuesday, July 23rd. Piper Sandler decreased their price objective on Schlumberger from $71.00 to $66.00 and set an “overweight” rating for the company in a report on Monday, July 15th. Finally, Dbs Bank started coverage on Schlumberger in a report on Wednesday, September 18th. They issued a “buy” rating and a $64.50 price objective for the company. Two equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $66.29.

Schlumberger Trading Up 1.2 %

Schlumberger stock opened at $42.90 on Tuesday. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.49 and a quick ratio of 1.13. Schlumberger Limited has a one year low of $38.66 and a one year high of $61.41. The stock has a market capitalization of $61.32 billion, a PE ratio of 14.25, a price-to-earnings-growth ratio of 0.86 and a beta of 1.51. The business’s fifty day moving average is $44.38 and its 200 day moving average is $47.31.

Schlumberger (NYSE:SLB) last posted its quarterly earnings data on Friday, July 19th. The oil and gas company reported $0.85 EPS for the quarter, topping the consensus estimate of $0.83 by $0.02. Schlumberger had a return on equity of 21.92% and a net margin of 12.56%. The firm had revenue of $9.14 billion for the quarter, compared to the consensus estimate of $9.08 billion. During the same quarter last year, the company earned $0.72 earnings per share. The business’s revenue for the quarter was up 12.8% compared to the same quarter last year. On average, sell-side analysts predict that Schlumberger Limited will post 3.49 EPS for the current year.

Schlumberger Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 10th. Investors of record on Wednesday, September 4th will be paid a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a yield of 2.56%. The ex-dividend date of this dividend is Wednesday, September 4th. Schlumberger’s dividend payout ratio (DPR) is presently 36.54%.

Insider Activity at Schlumberger

In related news, CFO Stephane Biguet sold 50,048 shares of Schlumberger stock in a transaction that occurred on Monday, July 22nd. The stock was sold at an average price of $49.94, for a total transaction of $2,499,397.12. Following the sale, the chief financial officer now owns 203,076 shares of the company’s stock, valued at approximately $10,141,615.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Vijay Kasibhatla sold 10,000 shares of Schlumberger stock in a transaction that occurred on Monday, July 22nd. The stock was sold at an average price of $49.29, for a total transaction of $492,900.00. Following the sale, the director now owns 62,354 shares of the company’s stock, valued at approximately $3,073,428.66. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Stephane Biguet sold 50,048 shares of Schlumberger stock in a transaction that occurred on Monday, July 22nd. The shares were 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 directly owns 203,076 shares in the company, valued at approximately $10,141,615.44. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 180,716 shares of company stock valued at $9,048,624. 0.26% of the stock is owned by company insiders.

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.