Oxford Financial Group Ltd. grew its holdings in shares of Schlumberger Limited (NYSE:SLB – Free Report) by 24.3% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 12,925 shares of the oil and gas company’s stock after buying an additional 2,527 shares during the period. Oxford Financial Group Ltd.’s holdings in Schlumberger were worth $635,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Acadian Asset Management LLC bought a new stake in Schlumberger in the first quarter worth $25,000. Exos TFP Holdings LLC boosted its stake in Schlumberger by 269.7% in the 1st quarter. Exos TFP Holdings LLC now owns 536 shares of the oil and gas company’s stock worth $26,000 after purchasing an additional 391 shares in the last quarter. Impact Partnership Wealth LLC purchased a new stake in Schlumberger during the 2nd quarter valued at about $31,000. Column Capital Advisors LLC increased its stake in Schlumberger by 50.3% during the 2nd quarter. Column Capital Advisors LLC now owns 648 shares of the oil and gas company’s stock valued at $32,000 after purchasing an additional 217 shares in the last quarter. Finally, Resurgent Financial Advisors LLC purchased a new position in Schlumberger in the fourth quarter worth about $35,000. 79.43% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
SLB has been the subject of several analyst reports. Piper Sandler raised their price target on shares of Schlumberger from $64.00 to $77.00 and gave the company an “overweight” rating in a research report on Monday, September 11th. Benchmark reissued a “buy” rating and set a $65.00 price objective on shares of Schlumberger in a report on Monday, July 24th. UBS Group lifted their target price on shares of Schlumberger from $72.00 to $73.00 and gave the stock a “buy” rating in a research report on Thursday, August 17th. Raymond James boosted their price target on Schlumberger from $68.00 to $72.00 and gave the company an “outperform” rating in a report on Monday, October 23rd. Finally, Susquehanna raised their price objective on Schlumberger from $68.00 to $72.00 and gave the stock a “positive” rating in a research note on Thursday, September 7th. Two equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat, Schlumberger currently has a consensus rating of “Moderate Buy” and a consensus price target of $70.36.
Schlumberger Trading Up 1.4 %
Shares of SLB opened at $52.85 on Friday. The firm has a market cap of $75.23 billion, a P/E ratio of 18.29, a price-to-earnings-growth ratio of 0.71 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. Schlumberger Limited has a 1 year low of $42.73 and a 1 year high of $62.78. The company has a 50 day simple moving average of $57.62 and a two-hundred day simple moving average of $54.05.
Schlumberger (NYSE:SLB – Get Free Report) last issued its earnings results on Friday, October 20th. The oil and gas company reported $0.78 earnings per share for the quarter, topping analysts’ consensus estimates of $0.77 by $0.01. The firm had revenue of $8.31 billion during the quarter, compared to analyst estimates of $8.32 billion. Schlumberger had a net margin of 12.98% and a return on equity of 21.80%. Schlumberger’s revenue for the quarter was up 11.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.63 earnings per share. On average, equities analysts expect that Schlumberger Limited will post 2.97 earnings per share for the current fiscal year.
Schlumberger Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Thursday, January 11th. Investors of record on Wednesday, December 6th will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.89%. The ex-dividend date of this dividend is Tuesday, December 5th. Schlumberger’s payout ratio is presently 34.60%.
Insider Buying and Selling at Schlumberger
In other news, CFO Stephane Biguet sold 6,250 shares of the company’s stock in a transaction that occurred on Monday, October 30th. The stock was sold at an average price of $56.32, for a total transaction of $352,000.00. Following the sale, the chief financial officer now directly owns 176,015 shares of the company’s stock, valued at approximately $9,913,164.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CTO Demosthenis Pafitis sold 60,000 shares of the stock in a transaction dated Wednesday, August 30th. The shares were sold at an average price of $58.83, for a total value of $3,529,800.00. Following the completion of the transaction, the chief technology officer now owns 36,858 shares of the company’s stock, valued at approximately $2,168,356.14. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Stephane Biguet sold 6,250 shares of the business’s stock in a transaction that occurred on Monday, October 30th. The stock was sold at an average price of $56.32, for a total value of $352,000.00. Following the sale, the chief financial officer now directly owns 176,015 shares in the company, valued at $9,913,164.80. The disclosure for this sale can be found here. Insiders sold 109,250 shares of company stock worth $6,441,505 in the last quarter. 0.23% of the stock is owned by corporate insiders.
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.
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