Graypoint LLC Increases Position in Schlumberger Limited (NYSE:SLB)

Graypoint LLC raised its position in shares of Schlumberger Limited (NYSE:SLB) by 3.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 9,536 shares of the oil and gas company’s stock after buying an additional 311 shares during the period. Graypoint LLC’s holdings in Schlumberger were worth $400,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also modified their holdings of the company. Duality Advisers LP purchased a new stake in Schlumberger during the first quarter worth about $861,000. Envestnet Portfolio Solutions Inc. increased its stake in Schlumberger by 93.1% during the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 163,445 shares of the oil and gas company’s stock worth $8,958,000 after buying an additional 78,816 shares during the period. Clifford Capital Partners LLC lifted its holdings in Schlumberger by 2.7% during the 1st quarter. Clifford Capital Partners LLC now owns 182,429 shares of the oil and gas company’s stock worth $9,999,000 after buying an additional 4,726 shares in the last quarter. Susquehanna International Securities Ltd. purchased a new position in Schlumberger in the 1st quarter valued at approximately $488,000. Finally, Montag A & Associates Inc. boosted its position in Schlumberger by 13.1% in the 1st quarter. Montag A & Associates Inc. now owns 12,364 shares of the oil and gas company’s stock valued at $681,000 after buying an additional 1,435 shares during the period. 81.99% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have recently issued reports on the company. Barclays reduced their price objective on Schlumberger from $67.00 to $63.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 16th. Evercore ISI decreased their price objective on Schlumberger from $74.00 to $62.00 and set an “outperform” rating for the company in a research note on Monday, October 21st. Piper Sandler cut their target price on shares of Schlumberger from $71.00 to $66.00 and set an “overweight” rating on the stock in a research note on Monday, July 15th. Benchmark reiterated a “buy” rating and issued a $68.00 price target on shares of Schlumberger in a research note on Monday, July 22nd. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $69.00 price objective on shares of Schlumberger in a research report on Thursday, October 3rd. Two investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $60.97.

Insider Buying and Selling

In other Schlumberger news, EVP Abdellah Merad sold 60,000 shares of the company’s stock in a transaction that occurred on Thursday, October 24th. The stock was sold at an average price of $41.90, for a total transaction of $2,514,000.00. Following the completion of the sale, the executive vice president now directly owns 211,937 shares of the company’s stock, valued at $8,880,160.30. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.26% of the company’s stock.

Schlumberger Trading Down 0.1 %

SLB opened at $43.18 on Friday. The company has a quick ratio of 1.12, a current ratio of 1.48 and a debt-to-equity ratio of 0.52. Schlumberger Limited has a 52 week low of $38.66 and a 52 week high of $55.69. The business’s 50 day moving average is $42.21 and its two-hundred day moving average is $44.90. The firm has a market cap of $60.98 billion, a price-to-earnings ratio of 13.88, a price-to-earnings-growth ratio of 1.54 and a beta of 1.52.

Schlumberger (NYSE:SLB) last announced its earnings results on Friday, October 18th. The oil and gas company reported $0.89 EPS for the quarter, beating analysts’ consensus estimates of $0.88 by $0.01. The business had revenue of $9.16 billion for the quarter, compared to analysts’ expectations of $9.27 billion. Schlumberger had a net margin of 12.44% and a return on equity of 21.84%. The company’s quarterly revenue was up 10.2% on a year-over-year basis. During the same period in the previous year, the company posted $0.78 EPS. On average, research analysts predict that Schlumberger Limited will post 3.4 EPS for the current year.

Schlumberger Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 9th. Stockholders of record on Wednesday, December 4th will be paid a dividend of $0.275 per share. The ex-dividend date of this dividend is Wednesday, December 4th. This represents a $1.10 annualized dividend and a dividend yield of 2.55%. Schlumberger’s dividend payout ratio (DPR) is 35.37%.

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.