Laurel Wealth Advisors LLC Boosts Holdings in Schlumberger Limited (NYSE:SLB)

Laurel Wealth Advisors LLC grew its holdings in Schlumberger Limited (NYSE:SLB) by 15.3% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,890 shares of the oil and gas company’s stock after buying an additional 650 shares during the period. Laurel Wealth Advisors LLC’s holdings in Schlumberger were worth $254,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of the business. Vanguard Group Inc. raised 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 valued at $7,609,804,000 after buying an additional 1,412,821 shares during the last quarter. FMR LLC increased its position in Schlumberger by 1.1% during 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 purchasing an additional 282,709 shares during the last quarter. Norges Bank acquired a new stake in Schlumberger during the fourth quarter worth about $1,000,292,000. Morgan Stanley increased its position in Schlumberger by 1.9% during the third quarter. Morgan Stanley now owns 15,790,074 shares of the oil and gas company’s stock worth $920,561,000 after purchasing an additional 292,817 shares during the last quarter. Finally, Sanders Capital LLC increased its position in Schlumberger by 4.3% during the fourth quarter. Sanders Capital LLC now owns 8,402,669 shares of the oil and gas company’s stock worth $437,275,000 after purchasing an additional 346,177 shares during the last quarter. 81.99% of the stock is currently owned by institutional investors and hedge funds.

Schlumberger Stock Down 0.5 %

Shares of NYSE SLB traded down $0.24 during midday trading on Friday, hitting $49.20. The company’s stock had a trading volume of 8,250,858 shares, compared to its average volume of 9,808,635. The business’s fifty day simple moving average is $51.74 and its two-hundred day simple moving average is $52.08. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.37 and a quick ratio of 1.02. Schlumberger Limited has a 1 year low of $42.73 and a 1 year high of $62.12. The firm has a market capitalization of $70.32 billion, a price-to-earnings ratio of 16.35, a price-to-earnings-growth ratio of 0.95 and a beta of 1.60.

Schlumberger (NYSE:SLB) last posted its quarterly earnings data on Friday, April 19th. The oil and gas company reported $0.75 EPS for the quarter, meeting the consensus estimate 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 analyst estimates of $8.70 billion. During the same quarter last year, the firm posted $0.63 earnings per share. The business’s revenue for the quarter was up 12.6% compared to the same quarter last year. On average, equities analysts predict that Schlumberger Limited will post 3.51 EPS for the current year.

Schlumberger Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 11th. Stockholders of record on Wednesday, June 5th will be paid a $0.275 dividend. This is a positive change from Schlumberger’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend is Wednesday, June 5th. This represents a $1.10 annualized dividend and a dividend yield of 2.24%. Schlumberger’s dividend payout ratio (DPR) is presently 36.54%.

Insider Activity

In related news, insider Katharina Beumelburg sold 8,000 shares of Schlumberger stock in a transaction that occurred on Monday, January 29th. The shares were sold at an average price of $52.62, for a total value of $420,960.00. Following the completion of the transaction, the insider now owns 15,581 shares in the company, valued at $819,872.22. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, insider Katharina Beumelburg sold 8,000 shares of Schlumberger stock in a transaction that occurred on Monday, January 29th. The shares were sold at an average price of $52.62, for a total value of $420,960.00. Following the completion of the transaction, the insider now owns 15,581 shares in the company, valued at $819,872.22. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Stephane Biguet sold 6,250 shares of Schlumberger stock in a transaction that occurred on Monday, January 29th. The stock was sold at an average price of $52.78, for a total transaction of $329,875.00. Following the completion of the transaction, the chief financial officer now owns 249,182 shares of the company’s stock, valued at approximately $13,151,825.96. The disclosure for this sale can be found here. Over the last quarter, insiders sold 90,545 shares of company stock valued at $4,458,430. 0.26% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on SLB. TD Cowen cut their price objective on shares of Schlumberger from $64.00 to $63.00 and set a “buy” rating for the company in a research report on Monday, April 22nd. Stifel Nicolaus restated a “buy” rating and set a $64.00 price objective on shares of Schlumberger in a research report on Monday, April 22nd. Benchmark restated a “buy” rating and set a $68.00 price objective on shares of Schlumberger in a research report on Monday, April 22nd. Wells Fargo & Company raised their price objective on shares of Schlumberger from $69.00 to $70.00 and gave the stock an “overweight” rating in a research report on Monday, January 22nd. Finally, Bank of America lowered their target price on shares of Schlumberger from $63.00 to $62.00 and set a “buy” rating for the company in a research note on Monday, April 22nd. One analyst has rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $69.67.

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.