Tyche Wealth Partners LLC Has $315,000 Stock Holdings in Schlumberger Limited $SLB

Tyche Wealth Partners LLC raised its holdings in Schlumberger Limited (NYSE:SLB) by 19.0% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 9,306 shares of the oil and gas company’s stock after acquiring an additional 1,488 shares during the quarter. Tyche Wealth Partners LLC’s holdings in Schlumberger were worth $315,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. First Command Advisory Services Inc. boosted its holdings in shares of Schlumberger by 300.0% during the 1st quarter. First Command Advisory Services Inc. now owns 636 shares of the oil and gas company’s stock worth $27,000 after buying an additional 477 shares during the period. Atticus Wealth Management LLC bought a new stake in shares of Schlumberger during the 2nd quarter worth $29,000. Atlas Capital Advisors Inc. bought a new stake in shares of Schlumberger during the 1st quarter worth $33,000. Thurston Springer Miller Herd & Titak Inc. boosted its holdings in shares of Schlumberger by 55.3% during the 2nd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 983 shares of the oil and gas company’s stock worth $33,000 after buying an additional 350 shares during the period. Finally, Alpine Bank Wealth Management bought a new stake in shares of Schlumberger during the 1st quarter worth $34,000. 81.99% of the stock is owned by institutional investors.

Insider Transactions at Schlumberger

In related news, insider Dianne B. Ralston sold 39,727 shares of Schlumberger stock in a transaction dated Friday, September 12th. The shares were sold at an average price of $36.08, for a total transaction of $1,433,350.16. Following the completion of the transaction, the insider directly owned 202,201 shares of the company’s stock, valued at $7,295,412.08. This trade represents a 16.42% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.22% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

SLB has been the subject of several recent analyst reports. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Schlumberger in a report on Saturday, September 27th. Piper Sandler dropped their target price on shares of Schlumberger from $44.00 to $42.00 and set a “neutral” rating on the stock in a research report on Friday, July 18th. Barclays dropped their target price on shares of Schlumberger from $47.00 to $46.00 and set an “overweight” rating on the stock in a research report on Monday, July 21st. JPMorgan Chase & Co. dropped their target price on shares of Schlumberger from $46.00 to $44.00 and set an “overweight” rating on the stock in a research report on Monday, June 30th. Finally, Melius Research initiated coverage on shares of Schlumberger in a research report on Wednesday, August 20th. They set a “buy” rating and a $82.00 target price on the stock. Two analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat.com, Schlumberger has an average rating of “Moderate Buy” and an average target price of $52.18.

Schlumberger Trading Down 0.6%

Shares of Schlumberger stock opened at $34.39 on Wednesday. The firm has a market capitalization of $51.36 billion, a PE ratio of 11.78, a price-to-earnings-growth ratio of 9.60 and a beta of 0.97. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.31 and a quick ratio of 0.98. The company’s fifty day moving average price is $34.58 and its two-hundred day moving average price is $35.05. Schlumberger Limited has a 52-week low of $31.11 and a 52-week high of $45.17.

Schlumberger (NYSE:SLB) last announced its quarterly earnings results on Friday, July 18th. The oil and gas company reported $0.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.73 by $0.01. The firm had revenue of $8.55 billion for the quarter, compared to analyst estimates of $8.51 billion. Schlumberger had a net margin of 11.53% and a return on equity of 20.99%. The business’s revenue for the quarter was down 6.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.85 EPS. On average, analysts expect that Schlumberger Limited will post 3.38 EPS for the current year.

Schlumberger Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 9th. Shareholders of record on Wednesday, September 3rd will be issued a $0.285 dividend. This represents a $1.14 annualized dividend and a yield of 3.3%. The ex-dividend date of this dividend is Wednesday, September 3rd. Schlumberger’s payout ratio is 39.04%.

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.