Great Valley Advisor Group Inc. Boosts Stock Position in Schlumberger Limited (NYSE:SLB)

Great Valley Advisor Group Inc. lifted its holdings in shares of Schlumberger Limited (NYSE:SLB) by 13.2% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 20,473 shares of the oil and gas company’s stock after acquiring an additional 2,386 shares during the period. Great Valley Advisor Group Inc.’s holdings in Schlumberger were worth $966,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Register Financial Advisors LLC acquired a new stake in shares of Schlumberger during the first quarter worth about $27,000. Bruce G. Allen Investments LLC lifted its holdings in Schlumberger by 204.2% in the second quarter. Bruce G. Allen Investments LLC now owns 584 shares of the oil and gas company’s stock valued at $28,000 after acquiring an additional 392 shares during the period. Manchester Capital Management LLC lifted its holdings in Schlumberger by 297.9% in the first quarter. Manchester Capital Management LLC now owns 569 shares of the oil and gas company’s stock valued at $31,000 after acquiring an additional 426 shares during the period. Transcendent Capital Group LLC acquired a new position in Schlumberger in the fourth quarter valued at approximately $32,000. Finally, First Community Trust NA lifted its holdings in Schlumberger by 264.0% in the second quarter. First Community Trust NA now owns 728 shares of the oil and gas company’s stock valued at $34,000 after acquiring an additional 528 shares during the period. Hedge funds and other institutional investors own 81.99% of the company’s stock.

Schlumberger Trading Up 0.3 %

Shares of Schlumberger stock traded up $0.13 during trading hours on Wednesday, hitting $43.90. The company’s stock had a trading volume of 3,219,048 shares, compared to its average volume of 10,818,646. Schlumberger Limited has a twelve month low of $42.61 and a twelve month high of $62.12. The firm has a fifty day moving average of $46.06 and a 200-day moving average of $48.55. The stock has a market cap of $62.33 billion, a price-to-earnings ratio of 14.54, a P/E/G ratio of 0.93 and a beta of 1.55. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.13 and a current ratio of 1.49.

Schlumberger (NYSE:SLB) last announced its quarterly earnings results on Friday, July 19th. The oil and gas company reported $0.85 EPS for the quarter, beating the consensus estimate of $0.83 by $0.02. Schlumberger had a return on equity of 21.92% and a net margin of 12.56%. The business had revenue of $9.14 billion for the quarter, compared to analyst estimates of $9.08 billion. During the same quarter in the prior year, the company posted $0.72 EPS. The company’s quarterly revenue was up 12.8% on a year-over-year basis. Research analysts forecast that Schlumberger Limited will post 3.49 EPS for the current year.

Schlumberger Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 10th. Investors of record on Wednesday, September 4th will be paid a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a yield of 2.51%. The ex-dividend date of this dividend is Wednesday, September 4th. Schlumberger’s payout ratio is 36.54%.

Analysts Set New Price Targets

A number of brokerages have issued reports on SLB. Bank of America decreased their price target on Schlumberger from $62.00 to $58.00 and set a “buy” rating for the company in a report on Monday, July 15th. Wells Fargo & Company downgraded Schlumberger from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $68.00 to $53.00 in a research note on Monday, April 29th. Piper Sandler reduced their target price on Schlumberger from $71.00 to $66.00 and set an “overweight” rating for the company in a research note on Monday, July 15th. TD Cowen upped their target price on Schlumberger from $62.00 to $64.00 and gave the stock a “buy” rating in a research note on Monday, July 22nd. Finally, BMO Capital Markets reduced their target price on Schlumberger from $66.00 to $64.00 and set an “outperform” rating for the company in a research note on Monday, April 22nd. Two analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to MarketBeat.com, Schlumberger presently has an average rating of “Moderate Buy” and an average target price of $67.56.

Insider Buying and Selling

In related news, EVP Mogharbel Khaled Al sold 120,668 shares of the stock in a transaction dated Monday, July 22nd. The stock was sold at an average price of $50.19, for a total transaction of $6,056,326.92. Following the transaction, the executive vice president now owns 247,699 shares of the company’s stock, valued at approximately $12,432,012.81. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other Schlumberger news, insider Gavin Rennick sold 38,083 shares of the stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $48.28, for a total value of $1,838,647.24. Following the sale, the insider now owns 45,851 shares of the company’s stock, valued at approximately $2,213,686.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Mogharbel Khaled Al sold 120,668 shares of the stock in a transaction dated Monday, July 22nd. The shares were sold at an average price of $50.19, for a total value of $6,056,326.92. Following the completion of the sale, the executive vice president now directly owns 247,699 shares in the company, valued at approximately $12,432,012.81. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 223,779 shares of company stock valued at $11,103,553. Corporate insiders own 0.26% of the company’s stock.

Schlumberger Company 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.