Prospera Financial Services Inc Boosts Stake in Schlumberger Limited (NYSE:SLB)

Prospera Financial Services Inc increased its position in Schlumberger Limited (NYSE:SLB) by 224.1% in the 2nd quarter, Holdings Channel reports. The firm owned 19,300 shares of the oil and gas company’s stock after buying an additional 13,345 shares during the period. Prospera Financial Services Inc’s holdings in Schlumberger were worth $948,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also made changes to their positions in SLB. Norges Bank purchased a new stake in shares of Schlumberger in the 4th quarter valued at about $1,008,286,000. Price T Rowe Associates Inc. MD raised its stake in Schlumberger by 200.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 10,736,684 shares of the oil and gas company’s stock valued at $527,173,000 after acquiring an additional 7,158,943 shares during the last quarter. Providence Capital Advisors LLC raised its stake in Schlumberger by 4,851.2% during the 1st quarter. Providence Capital Advisors LLC now owns 5,958,923 shares of the oil and gas company’s stock valued at $121,363,000 after acquiring an additional 5,838,569 shares during the last quarter. FMR LLC raised its stake in Schlumberger by 6.9% during the 1st quarter. FMR LLC now owns 35,212,430 shares of the oil and gas company’s stock valued at $1,728,928,000 after acquiring an additional 2,280,503 shares during the last quarter. Finally, Great Lakes Advisors LLC raised its stake in Schlumberger by 268.4% during the 1st quarter. Great Lakes Advisors LLC now owns 2,628,542 shares of the oil and gas company’s stock valued at $129,061,000 after acquiring an additional 1,915,106 shares during the last quarter. 79.43% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Schlumberger

In other Schlumberger news, CFO Stephane Biguet sold 6,250 shares of the stock in a transaction on Monday, August 28th. The stock was sold at an average price of $56.85, for a total transaction of $355,312.50. Following the sale, the chief financial officer now owns 188,515 shares in the company, valued at approximately $10,717,077.75. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Schlumberger news, EVP Mogharbel Khaled Al sold 30,000 shares of the stock in a transaction on Tuesday, September 5th. The stock was sold at an average price of $60.24, for a total transaction of $1,807,200.00. Following the transaction, the executive vice president now owns 324,867 shares of the company’s stock, valued at approximately $19,569,988.08. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Stephane Biguet sold 6,250 shares of the stock in a transaction on Monday, August 28th. The stock was sold at an average price of $56.85, for a total value of $355,312.50. Following the transaction, the chief financial officer now directly owns 188,515 shares in the company, valued at approximately $10,717,077.75. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 109,250 shares of company stock worth $6,441,505. 0.23% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several analysts have commented on the company. Susquehanna upped their price objective on Schlumberger from $68.00 to $72.00 and gave the company a “positive” rating in a research note on Thursday, September 7th. Piper Sandler upped their price objective on Schlumberger from $64.00 to $77.00 and gave the company an “overweight” rating in a research note on Monday, September 11th. StockNews.com assumed coverage on Schlumberger in a research note on Thursday, October 5th. They set a “hold” rating for the company. Raymond James upped their price objective on Schlumberger from $68.00 to $72.00 and gave the company an “outperform” rating in a research note on Monday, October 23rd. Finally, Barclays boosted their target price on Schlumberger from $75.00 to $77.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 24th. Two equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, Schlumberger currently has an average rating of “Moderate Buy” and an average target price of $70.36.

Schlumberger Stock Performance

SLB opened at $53.30 on Friday. The stock has a market cap of $75.86 billion, a P/E ratio of 18.44, a P/E/G ratio of 0.72 and a beta of 1.77. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.36 and a quick ratio of 1.02. The stock’s 50 day simple moving average is $58.33 and its 200 day simple moving average is $53.83. Schlumberger Limited has a 1-year low of $42.73 and a 1-year high of $62.78.

Schlumberger (NYSE:SLB) last announced its earnings results on Friday, October 20th. The oil and gas company reported $0.78 EPS for the quarter, beating analysts’ consensus estimates of $0.77 by $0.01. The firm had revenue of $8.31 billion for the quarter, compared to analysts’ expectations of $8.32 billion. Schlumberger had a return on equity of 21.80% and a net margin of 12.98%. Schlumberger’s quarterly revenue was up 11.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.63 EPS. As a group, equities analysts anticipate that Schlumberger Limited will post 2.97 EPS for the current fiscal year.

Schlumberger Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 11th. Shareholders of record on Wednesday, December 6th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.88%. The ex-dividend date of this dividend is Tuesday, December 5th. Schlumberger’s dividend payout ratio (DPR) is presently 34.60%.

About Schlumberger

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, integration of adjacent energy systems; reservoir interpretation and data processing services for exploration data; and well construction and production improvement services and products.