Prospera Financial Services Inc Acquires New Position in Schlumberger Limited (NYSE:SLB)

Prospera Financial Services Inc purchased a new stake in shares of Schlumberger Limited (NYSE:SLB – Get Rating) during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 3,942 shares of the oil and gas company’s stock, valued at approximately $163,000.

Several other large investors have also recently made changes to their positions in the business. BlackRock Inc. boosted its position in Schlumberger by 16.9% during the fourth quarter. BlackRock Inc. now owns 111,487,119 shares of the oil and gas company’s stock valued at $3,339,042,000 after buying an additional 16,123,949 shares during the period. State Street Corp boosted its holdings in Schlumberger by 0.6% during the 4th quarter. State Street Corp now owns 91,556,288 shares of the oil and gas company’s stock valued at $2,753,092,000 after acquiring an additional 554,778 shares during the period. Norges Bank purchased a new position in Schlumberger in the 4th quarter worth approximately $938,856,000. Boston Partners lifted its position in Schlumberger by 6.5% in the fourth quarter. Boston Partners now owns 24,189,830 shares of the oil and gas company’s stock valued at $725,420,000 after purchasing an additional 1,474,462 shares during the last quarter. Finally, Geode Capital Management LLC boosted its stake in shares of Schlumberger by 3.1% during the fourth quarter. Geode Capital Management LLC now owns 23,408,484 shares of the oil and gas company’s stock valued at $699,052,000 after purchasing an additional 714,053 shares during the period. 76.34% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the stock. Stifel Nicolaus upped their price target on shares of Schlumberger from $44.00 to $50.00 in a report on Friday, April 8th. Barclays increased their target price on shares of Schlumberger from $55.00 to $59.00 and gave the stock an “overweight” rating in a report on Wednesday, June 8th. Cowen boosted their price target on Schlumberger from $47.00 to $49.00 and gave the company an “outperform” rating in a report on Monday, July 25th. Wells Fargo & Company dropped their price objective on Schlumberger from $56.00 to $55.00 and set an “overweight” rating for the company in a report on Monday, April 25th. Finally, Piper Sandler upgraded Schlumberger from a “neutral” rating to an “overweight” rating and upped their target price for the company from $43.00 to $55.00 in a report on Monday, April 11th. One investment analyst has rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $47.01.

Insider Buying and Selling at Schlumberger

In other news, insider Katharina Beumelburg sold 4,200 shares of the company’s stock in a transaction on Thursday, May 19th. The stock was sold at an average price of $40.28, for a total transaction of $169,176.00. Following the transaction, the insider now directly owns 519 shares of the company’s stock, valued at $20,905.32. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Schlumberger news, insider Katharina Beumelburg sold 4,200 shares of the company’s stock in a transaction dated Thursday, May 19th. The shares were sold at an average price of $40.28, for a total transaction of $169,176.00. Following the transaction, the insider now owns 519 shares in the company, valued at approximately $20,905.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Limited/Nv Schlumberger sold 12,032,500 shares of the firm’s stock in a transaction dated 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 directly owns 23,069,461 shares in the company, valued at approximately $392,180,837. The disclosure for this sale can be found here. In the last three months, insiders have sold 12,047,459 shares of company stock worth $205,224,121. Insiders own 0.28% of the company’s stock.

Schlumberger Price Performance

Shares of NYSE:SLB opened at $33.95 on Friday. The business has a fifty day moving average price of $38.35 and a 200-day moving average price of $39.84. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.35 and a quick ratio of 0.98. The company has a market capitalization of $48.02 billion, a PE ratio of 18.45, a PEG ratio of 0.47 and a beta of 1.86. Schlumberger Limited has a 1-year low of $25.90 and a 1-year high of $49.83.

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

Schlumberger Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 13th. Investors of record on Wednesday, September 7th will be given a $0.175 dividend. The ex-dividend date of this dividend is Tuesday, September 6th. This represents a $0.70 annualized dividend and a yield of 2.06%. Schlumberger’s dividend payout ratio (DPR) is presently 38.04%.

Schlumberger Company Profile

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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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