Schlumberger Limited (NYSE:SLB) Shares Acquired by Cetera Advisor Networks LLC

Cetera Advisor Networks LLC increased its stake in Schlumberger Limited (NYSE:SLBFree Report) by 16.6% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 76,763 shares of the oil and gas company’s stock after acquiring an additional 10,949 shares during the period. Cetera Advisor Networks LLC’s holdings in Schlumberger were worth $3,995,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. Vanguard Group Inc. boosted its position in shares of Schlumberger by 1.1% in the third quarter. Vanguard Group Inc. now owns 130,528,372 shares of the oil and gas company’s stock worth $7,609,804,000 after acquiring an additional 1,412,821 shares during the last quarter. Capital World Investors boosted its position in shares of Schlumberger by 2.2% in the fourth quarter. Capital World Investors now owns 51,617,471 shares of the oil and gas company’s stock worth $2,686,173,000 after acquiring an additional 1,133,686 shares during the last quarter. FMR LLC boosted its position in shares of Schlumberger by 1.1% in the third quarter. FMR LLC now owns 27,171,516 shares of the oil and gas company’s stock worth $1,584,099,000 after acquiring an additional 282,709 shares during the last quarter. Norges Bank purchased a new position in Schlumberger in the fourth quarter valued at approximately $1,000,292,000. Finally, Morgan Stanley raised its holdings in Schlumberger by 1.9% in the third quarter. Morgan Stanley now owns 15,790,074 shares of the oil and gas company’s stock valued at $920,561,000 after buying an additional 292,817 shares during the period. 81.99% of the stock is owned by institutional investors and hedge funds.

Schlumberger Stock Performance

Shares of SLB opened at $44.98 on Tuesday. Schlumberger Limited has a 1 year low of $42.77 and a 1 year high of $62.12. The company has a market cap of $64.29 billion, a price-to-earnings ratio of 14.94, a price-to-earnings-growth ratio of 0.86 and a beta of 1.58. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.02 and a current ratio of 1.37. The firm has a fifty day moving average of $48.82 and a 200-day moving average of $50.13.

Schlumberger (NYSE:SLBGet Free Report) last issued its quarterly earnings data on Friday, April 19th. The oil and gas company reported $0.75 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.75. Schlumberger had a net margin of 12.72% and a return on equity of 21.88%. The business had revenue of $8.71 billion for the quarter, compared to analysts’ expectations of $8.70 billion. During the same period in the previous year, the business earned $0.63 earnings per share. The company’s revenue was up 12.6% on a year-over-year basis. As a group, equities analysts anticipate that Schlumberger Limited will post 3.51 earnings per share for the current year.

Schlumberger Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 11th. Shareholders of record on Wednesday, June 5th will be issued a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a yield of 2.45%. The ex-dividend date is Wednesday, June 5th. This is an increase from Schlumberger’s previous quarterly dividend of $0.25. Schlumberger’s payout ratio is presently 36.54%.

Insiders Place Their Bets

In other Schlumberger news, CTO Demosthenis Pafitis sold 63,095 shares of the business’s stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $48.26, for a total transaction of $3,044,964.70. Following the sale, the chief technology officer now owns 33,421 shares in the company, valued at approximately $1,612,897.46. The transaction was disclosed in a filing with the SEC, which is available through this link. In other Schlumberger news, CTO Demosthenis Pafitis sold 63,095 shares of Schlumberger stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $48.26, for a total transaction of $3,044,964.70. Following the transaction, the chief technology officer now owns 33,421 shares of the company’s stock, valued at approximately $1,612,897.46. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Gavin Rennick sold 38,083 shares of Schlumberger stock in a transaction dated Wednesday, May 22nd. The shares were sold at an average price of $48.28, for a total value of $1,838,647.24. Following the transaction, the insider now directly owns 45,851 shares in the company, valued at approximately $2,213,686.28. The disclosure for this sale can be found here. In the last quarter, insiders have sold 106,158 shares of company stock worth $5,099,893. Company insiders own 0.26% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently commented on the stock. TD Cowen cut their price target on shares of Schlumberger from $64.00 to $63.00 and set a “buy” rating on the stock in a report on Monday, April 22nd. Royal Bank of Canada lifted their price objective on shares of Schlumberger from $66.00 to $69.00 and gave the company an “outperform” rating in a research note on Wednesday, April 3rd. StockNews.com lowered shares of Schlumberger from a “buy” rating to a “hold” rating in a research note on Thursday, June 6th. HSBC reiterated a “buy” rating and set a $71.00 price objective on shares of Schlumberger in a research note on Thursday, April 4th. Finally, Bank of America dropped their price objective on shares of Schlumberger from $63.00 to $62.00 and set a “buy” rating on the stock in a research note on Monday, April 22nd. Two research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $69.06.

Check Out Our Latest Research Report on SLB

Schlumberger Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Schlumberger (NYSE:SLB)

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