Schlumberger Limited (NYSE:SLB) Shares Sold by NewEdge Wealth LLC

NewEdge Wealth LLC decreased its stake in shares of Schlumberger Limited (NYSE:SLB) by 7.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 22,225 shares of the oil and gas company’s stock after selling 1,800 shares during the period. NewEdge Wealth LLC’s holdings in Schlumberger were worth $1,157,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in SLB. Acadian Asset Management LLC bought a new position in shares of Schlumberger in the first quarter valued at approximately $25,000. Cetera Investment Advisers boosted its stake in shares of Schlumberger by 35.3% in the 1st quarter. Cetera Investment Advisers now owns 39,287 shares of the oil and gas company’s stock valued at $1,623,000 after purchasing an additional 10,240 shares in the last quarter. Dakota Wealth Management acquired a new stake in shares of Schlumberger in the 1st quarter valued at $232,000. Sequoia Financial Advisors LLC bought a new position in shares of Schlumberger in the first quarter valued at about $419,000. Finally, Baird Financial Group Inc. raised its holdings in shares of Schlumberger by 2.9% in the first quarter. Baird Financial Group Inc. now owns 112,003 shares of the oil and gas company’s stock valued at $4,627,000 after buying an additional 3,209 shares during the last quarter. Institutional investors own 81.99% of the company’s stock.

Wall Street Analyst Weigh In

SLB has been the subject of several recent research reports. HSBC reissued a “buy” rating and set a $71.00 price objective on shares of Schlumberger in a report on Thursday, April 4th. Susquehanna reiterated a “positive” rating and issued a $77.00 price objective on shares of Schlumberger in a research report on Monday, April 8th. Barclays decreased their price objective on Schlumberger from $74.00 to $70.00 and set an “overweight” rating for the company in a research report on Thursday, April 4th. Royal Bank of Canada boosted their price objective on Schlumberger from $66.00 to $69.00 and gave the company an “outperform” rating in a research report on Wednesday, April 3rd. Finally, The Goldman Sachs Group reiterated a “buy” rating on shares of Schlumberger in a research report on Monday, April 1st. One analyst has rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $70.31.

Schlumberger Stock Down 0.6 %

SLB opened at $51.67 on Tuesday. Schlumberger Limited has a 1-year low of $42.73 and a 1-year high of $62.12. The stock’s fifty day simple moving average is $51.36 and its 200 day simple moving average is $52.56. The company has a current ratio of 1.32, a quick ratio of 1.00 and a debt-to-equity ratio of 0.51. The stock has a market cap of $73.75 billion, a PE ratio of 17.70, a price-to-earnings-growth ratio of 0.94 and a beta of 1.60.

Schlumberger (NYSE:SLB) last posted its quarterly earnings results on Friday, January 19th. The oil and gas company reported $0.86 earnings per share for the quarter, beating analysts’ consensus estimates of $0.84 by $0.02. Schlumberger had a return on equity of 21.97% and a net margin of 12.68%. The business had revenue of $8.99 billion for the quarter, compared to analysts’ expectations of $8.96 billion. During the same quarter in the prior year, the business earned $0.71 EPS. The firm’s revenue for the quarter was up 14.1% on a year-over-year basis. As a group, research analysts expect that Schlumberger Limited will post 3.52 earnings per share for the current year.

Schlumberger Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, April 4th. Stockholders of record on Wednesday, February 7th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.94%. The ex-dividend date was Tuesday, February 6th. Schlumberger’s dividend payout ratio (DPR) is currently 34.25%.

Insider Transactions at Schlumberger

In other news, EVP Abdellah Merad sold 50,000 shares of the stock in a transaction on Monday, February 26th. The stock was sold at an average price of $48.52, for a total transaction of $2,426,000.00. Following the sale, the executive vice president now directly owns 261,507 shares of the company’s stock, valued at approximately $12,688,319.64. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, insider Gavin Rennick sold 20,045 shares of the firm’s stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $48.77, for a total value of $977,594.65. Following the sale, the insider now directly owns 77,563 shares of the company’s stock, valued at $3,782,747.51. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Abdellah Merad sold 50,000 shares of the business’s stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $48.52, for a total value of $2,426,000.00. Following the sale, the executive vice president now owns 261,507 shares in the company, valued at $12,688,319.64. The disclosure for this sale can be found here. In the last three months, insiders have sold 172,191 shares of company stock valued at $8,636,322. 0.26% of the stock is owned by corporate insiders.

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