Schlumberger Limited (NYSE:SLB) Shares Acquired by Mcintyre Freedman & Flynn Investment Advisers Inc.

Mcintyre Freedman & Flynn Investment Advisers Inc. lifted its stake in Schlumberger Limited (NYSE:SLB) by 22.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 58,485 shares of the oil and gas company’s stock after purchasing an additional 10,650 shares during the period. Schlumberger makes up 2.0% of Mcintyre Freedman & Flynn Investment Advisers Inc.’s investment portfolio, making the stock its 17th largest holding. Mcintyre Freedman & Flynn Investment Advisers Inc.’s holdings in Schlumberger were worth $2,759,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in SLB. Carolinas Wealth Consulting LLC boosted its position in shares of Schlumberger by 53.5% in the 4th quarter. Carolinas Wealth Consulting LLC now owns 1,960 shares of the oil and gas company’s stock worth $102,000 after buying an additional 683 shares in the last quarter. Crescent Grove Advisors LLC purchased a new position in shares of Schlumberger during the 2nd quarter worth approximately $257,000. National Bank of Canada FI raised its position in shares of Schlumberger by 15.0% during the 1st quarter. National Bank of Canada FI now owns 396,382 shares of the oil and gas company’s stock worth $21,726,000 after purchasing an additional 51,637 shares during the last quarter. Mission Wealth Management LP purchased a new stake in Schlumberger in the 1st quarter valued at approximately $245,000. Finally, Canada Pension Plan Investment Board grew its holdings in Schlumberger by 9.0% during the 1st quarter. Canada Pension Plan Investment Board now owns 788,484 shares of the oil and gas company’s stock valued at $43,217,000 after buying an additional 64,974 shares during the last quarter. Hedge funds and other institutional investors own 81.99% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on SLB. Citigroup reduced their price objective on Schlumberger from $65.00 to $62.00 and set a “buy” rating on the stock in a research report on Friday, June 28th. UBS Group lowered their price target on shares of Schlumberger from $67.00 to $63.00 and set a “buy” rating for the company in a report on Tuesday, August 20th. Piper Sandler reduced their price objective on shares of Schlumberger from $71.00 to $66.00 and set an “overweight” rating on the stock in a research note on Monday, July 15th. Royal Bank of Canada restated an “outperform” rating and set a $69.00 target price on shares of Schlumberger in a research report on Monday, July 22nd. Finally, Bank of America cut 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. Two investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $67.00.

Insider Activity at Schlumberger

In other news, Director Vijay Kasibhatla sold 10,000 shares of the firm’s stock in a transaction dated Monday, July 22nd. The stock was sold at an average price of $49.29, for a total transaction of $492,900.00. Following the completion of the sale, the director now directly owns 62,354 shares in the company, valued at $3,073,428.66. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Schlumberger news, EVP Mogharbel Khaled Al sold 120,668 shares of the firm’s stock in a transaction on Monday, July 22nd. The shares were sold at an average price of $50.19, for a total transaction of $6,056,326.92. Following the completion of the transaction, the executive vice president now directly owns 247,699 shares of the company’s stock, valued at approximately $12,432,012.81. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Vijay Kasibhatla sold 10,000 shares of the business’s stock in a transaction dated Monday, July 22nd. The stock was sold at an average price of $49.29, for a total transaction of $492,900.00. Following the completion of the sale, the director now directly owns 62,354 shares of the company’s stock, valued at approximately $3,073,428.66. The disclosure for this sale can be found here. In the last three months, insiders sold 180,716 shares of company stock valued at $9,048,624. Corporate insiders own 0.26% of the company’s stock.

Schlumberger Stock Up 0.4 %

Shares of Schlumberger stock opened at $39.96 on Friday. Schlumberger Limited has a twelve month low of $38.66 and a twelve month high of $61.78. The stock has a market cap of $56.74 billion, a price-to-earnings ratio of 13.28, a price-to-earnings-growth ratio of 0.84 and a beta of 1.51. The company has a current ratio of 1.49, a quick ratio of 1.13 and a debt-to-equity ratio of 0.55. The company has a fifty day moving average price of $44.90 and a 200 day moving average price of $47.64.

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

Schlumberger Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 10th. Stockholders of record on Wednesday, September 4th will be paid a $0.275 dividend. The ex-dividend date of this dividend is Wednesday, September 4th. This represents a $1.10 annualized dividend and a dividend yield of 2.75%. Schlumberger’s dividend payout ratio (DPR) is presently 36.54%.

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.