Kestra Private Wealth Services LLC Trims Stock Holdings in Schlumberger Limited (NYSE:SLB)

Kestra Private Wealth Services LLC cut its holdings in shares of Schlumberger Limited (NYSE:SLB) by 1.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 45,637 shares of the oil and gas company’s stock after selling 783 shares during the period. Kestra Private Wealth Services LLC’s holdings in Schlumberger were worth $2,375,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. BluePath Capital Management LLC acquired a new position in Schlumberger in the third quarter valued at $25,000. Turtle Creek Wealth Advisors LLC purchased a new stake in Schlumberger during the 4th quarter valued at approximately $26,000. Janiczek Wealth Management LLC lifted its position in Schlumberger by 1,180.4% during the 4th quarter. Janiczek Wealth Management LLC now owns 653 shares of the oil and gas company’s stock worth $34,000 after acquiring an additional 602 shares during the period. Pinnacle Bancorp Inc. grew its stake in shares of Schlumberger by 64.3% in the 4th quarter. Pinnacle Bancorp Inc. now owns 746 shares of the oil and gas company’s stock valued at $39,000 after purchasing an additional 292 shares during the last quarter. Finally, Legacy Bridge LLC increased its holdings in shares of Schlumberger by 39.4% in the fourth quarter. Legacy Bridge LLC now owns 853 shares of the oil and gas company’s stock valued at $44,000 after purchasing an additional 241 shares during the period. 81.99% of the stock is owned by institutional investors and hedge funds.

Schlumberger Trading Down 0.7 %

NYSE:SLB opened at $47.16 on Thursday. Schlumberger Limited has a 52-week low of $42.73 and a 52-week high of $62.12. The company has a quick ratio of 1.02, a current ratio of 1.37 and a debt-to-equity ratio of 0.49. The stock has a fifty day simple moving average of $51.69 and a 200-day simple moving average of $51.90. The company has a market capitalization of $67.41 billion, a PE ratio of 15.67, a price-to-earnings-growth ratio of 0.91 and a beta of 1.64.

Schlumberger (NYSE:SLB) last issued its quarterly earnings data on Friday, April 19th. The oil and gas company reported $0.75 earnings per share for the quarter, hitting 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 during the quarter, compared to analysts’ expectations of $8.70 billion. During the same period last year, the company posted $0.63 EPS. The company’s revenue was up 12.6% on a year-over-year basis. On average, equities research analysts expect that Schlumberger Limited will post 3.51 earnings per share for the current fiscal year.

Schlumberger Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 11th. Stockholders of record on Wednesday, June 5th will be issued a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a dividend yield of 2.33%. This is a boost from Schlumberger’s previous quarterly dividend of $0.25. The ex-dividend date is Wednesday, June 5th. Schlumberger’s payout ratio is 36.54%.

Insider Activity

In related news, CFO Stephane Biguet sold 6,250 shares of the business’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $48.64, for a total value of $304,000.00. Following the completion of the transaction, the chief financial officer now owns 242,932 shares of the company’s stock, valued at approximately $11,816,212.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CFO Stephane Biguet sold 6,250 shares of the firm’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $48.64, for a total transaction of $304,000.00. Following the sale, the chief financial officer now owns 242,932 shares in the company, valued at $11,816,212.48. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Abdellah Merad sold 50,000 shares of the business’s stock in a transaction on Monday, February 26th. The shares were sold at an average price of $48.52, for a total value of $2,426,000.00. Following the completion of the transaction, the executive vice president now owns 261,507 shares of the company’s stock, valued at $12,688,319.64. The disclosure for this sale can be found here. Company insiders own 0.26% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on SLB. Morgan Stanley reissued an “overweight” rating and issued a $65.00 price objective on shares of Schlumberger in a research note on Monday, April 22nd. TD Cowen dropped their price target on shares of Schlumberger from $64.00 to $63.00 and set a “buy” rating on the stock in a research note on Monday, April 22nd. The Goldman Sachs Group restated a “buy” rating on shares of Schlumberger in a research report on Monday, April 1st. BMO Capital Markets dropped their target price on Schlumberger from $66.00 to $64.00 and set an “outperform” rating on the stock in a research report on Monday, April 22nd. Finally, Wells Fargo & Company downgraded Schlumberger from an “overweight” rating to an “equal weight” rating and cut their target price for the stock from $68.00 to $53.00 in a research note on Monday. Two investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Schlumberger presently has a consensus rating of “Moderate Buy” and an average price target of $68.72.

Schlumberger Profile

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.