Advisor Group Holdings Inc. Grows Stake in Schlumberger Limited (NYSE:SLB)

Advisor Group Holdings Inc. grew its position in shares of Schlumberger Limited (NYSE:SLB – Get Rating) by 24.3% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 277,811 shares of the oil and gas company’s stock after purchasing an additional 54,280 shares during the period. Advisor Group Holdings Inc.’s holdings in Schlumberger were worth $10,469,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the company. Sugarloaf Wealth Management LLC grew its position in Schlumberger by 1,059.6% in the first quarter. Sugarloaf Wealth Management LLC now owns 603 shares of the oil and gas company’s stock worth $25,000 after acquiring an additional 551 shares in the last quarter. JFS Wealth Advisors LLC grew its position in Schlumberger by 95.6% in the first quarter. JFS Wealth Advisors LLC now owns 618 shares of the oil and gas company’s stock worth $26,000 after acquiring an additional 302 shares in the last quarter. Duncker Streett & Co. Inc. grew its position in Schlumberger by 51.1% in the fourth quarter. Duncker Streett & Co. Inc. now owns 893 shares of the oil and gas company’s stock worth $27,000 after acquiring an additional 302 shares in the last quarter. Crewe Advisors LLC grew its position in Schlumberger by 768.4% in the first quarter. Crewe Advisors LLC now owns 660 shares of the oil and gas company’s stock worth $27,000 after acquiring an additional 584 shares in the last quarter. Finally, Riverview Trust Co purchased a new position in Schlumberger in the first quarter worth $29,000. 76.34% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have weighed in on SLB. Piper Sandler raised shares of Schlumberger from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $43.00 to $55.00 in a research note on Monday, April 11th. Benchmark raised shares of Schlumberger from a “hold” rating to a “buy” rating and set a $55.00 price target for the company in a research note on Wednesday, July 27th. The Goldman Sachs Group lowered their price target on shares of Schlumberger from $54.00 to $45.00 and set a “buy” rating for the company in a research note on Wednesday, July 13th. Barclays boosted their price target on shares of Schlumberger from $59.00 to $61.00 and gave the stock a “maintains” rating in a research note on Monday, July 25th. Finally, Cowen boosted their price target on shares of Schlumberger from $47.00 to $49.00 and gave the stock a “maintains” rating in a research note on Monday, July 25th. One equities research analyst has rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $47.15.

Insiders Place Their Bets

In other news, insider Katharina Beumelburg sold 4,200 shares of the stock in a transaction that occurred on Thursday, May 19th. The shares were sold at an average price of $40.28, for a total transaction of $169,176.00. Following the sale, the insider now owns 519 shares in the company, valued at $20,905.32. The transaction was disclosed in a filing with the SEC, which is available at this link. In other news, insider Katharina Beumelburg sold 4,200 shares of the stock in a transaction that occurred on Thursday, May 19th. The shares were sold at an average price of $40.28, for a total transaction of $169,176.00. Following the sale, the insider now owns 519 shares in the company, valued at $20,905.32. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, major shareholder Limited/Nv Schlumberger sold 12,032,500 shares of the stock in a transaction that occurred on Wednesday, June 8th. The shares were sold at an average price of $17.00, for a total transaction of $204,552,500.00. Following the sale, the insider now owns 23,069,461 shares in the company, valued at approximately $392,180,837. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 12,067,459 shares of company stock worth $206,090,521. 0.28% of the stock is currently owned by company insiders.

Schlumberger Price Performance

Shares of SLB opened at $35.54 on Thursday. The stock has a market cap of $50.27 billion, a PE ratio of 19.32, a price-to-earnings-growth ratio of 0.47 and a beta of 1.86. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.98 and a current ratio of 1.35. Schlumberger Limited has a fifty-two week low of $25.90 and a fifty-two week high of $49.83. The firm’s 50-day simple moving average is $38.61 and its two-hundred day simple moving average is $39.86.

Schlumberger (NYSE:SLB – Get Rating) last announced its quarterly earnings data on Friday, July 22nd. The oil and gas company reported $0.50 earnings per share for the quarter, topping analysts’ consensus estimates of $0.40 by $0.10. The business had revenue of $6.77 billion for the quarter, compared to analysts’ expectations of $6.28 billion. Schlumberger had a net margin of 10.56% and a return on equity of 15.06%. The business’s revenue was up 20.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.30 earnings per share. Analysts anticipate that Schlumberger Limited will post 2 earnings per share for the current fiscal year.

Schlumberger Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 13th. Shareholders of record on Wednesday, September 7th will be issued a $0.175 dividend. This represents a $0.70 dividend on an annualized basis and a yield of 1.97%. The ex-dividend date of this dividend is Tuesday, September 6th. Schlumberger’s dividend payout ratio (DPR) is presently 38.04%.

About Schlumberger

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Schlumberger Limited provides technology for the energy industry worldwide. The company operates through four divisions: Digital & Integration, Reservoir Performance, Well Construction, and Production Systems. It offers software, information management, and IT infrastructure services; consulting services for reservoir characterization, field development planning, and production enhancement; petro technical data services and training solutions; reservoir interpretation and data processing services; asset performance solutions; open and cased-hole services; exploration and production pressure and flow-rate measurement services; pressure pumping, well stimulation, and coiled tubing equipment for downhole mechanical well intervention, reservoir monitoring, and downhole data acquisition; and integrated production systems.

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