Cary Street Partners Investment Advisory LLC Has $530,000 Stock Holdings in Schlumberger Limited (NYSE:SLB)

Cary Street Partners Investment Advisory LLC boosted its holdings in Schlumberger Limited (NYSE:SLBFree Report) by 14.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 10,175 shares of the oil and gas company’s stock after acquiring an additional 1,261 shares during the period. Cary Street Partners Investment Advisory LLC’s holdings in Schlumberger were worth $530,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Vanguard Group Inc. raised its holdings in Schlumberger by 1.1% in the 3rd 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 acquiring an additional 1,412,821 shares in the last quarter. FMR LLC increased its holdings in Schlumberger by 1.1% in the 3rd quarter. FMR LLC now owns 27,171,516 shares of the oil and gas company’s stock valued at $1,584,099,000 after buying an additional 282,709 shares during the period. Morgan Stanley lifted its holdings in shares of Schlumberger by 1.9% during the 3rd quarter. Morgan Stanley now owns 15,790,074 shares of the oil and gas company’s stock worth $920,561,000 after acquiring an additional 292,817 shares during the period. Invesco Ltd. boosted its position in shares of Schlumberger by 30.5% during the 3rd quarter. Invesco Ltd. now owns 8,370,835 shares of the oil and gas company’s stock worth $488,020,000 after acquiring an additional 1,954,620 shares in the last quarter. Finally, Sanders Capital LLC increased its stake in Schlumberger by 34.9% in the third quarter. Sanders Capital LLC now owns 8,056,492 shares of the oil and gas company’s stock valued at $469,693,000 after acquiring an additional 2,085,506 shares during the last quarter. 81.99% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, EVP Abdellah Merad sold 50,000 shares of the business’s stock in a transaction dated 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 transaction, the executive vice president now directly owns 261,507 shares of the company’s stock, valued at approximately $12,688,319.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, EVP Abdellah Merad sold 50,000 shares of the company’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $48.52, for a total transaction of $2,426,000.00. Following the sale, the executive vice president now owns 261,507 shares of the company’s stock, valued at approximately $12,688,319.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CTO Demosthenis Pafitis sold 63,095 shares of the business’s stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $48.26, for a total transaction of $3,044,964.70. Following the transaction, the chief technology officer now owns 33,421 shares of the company’s stock, valued at $1,612,897.46. The disclosure for this sale can be found here. Insiders have sold 119,345 shares of company stock valued at $5,774,965 in the last three months. 0.26% of the stock is currently owned by insiders.

Schlumberger Stock Down 0.3 %

SLB stock opened at $48.61 on Wednesday. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.02 and a current ratio of 1.37. Schlumberger Limited has a fifty-two week low of $42.73 and a fifty-two week high of $62.12. The stock’s 50 day simple moving average is $51.58 and its 200 day simple moving average is $51.27. The company has a market cap of $69.48 billion, a P/E ratio of 16.15, a price-to-earnings-growth ratio of 0.94 and a beta of 1.64.

Schlumberger (NYSE:SLBGet Free Report) last posted its quarterly earnings results on Friday, April 19th. The oil and gas company reported $0.75 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.75. The business had revenue of $8.71 billion during the quarter, compared to the consensus estimate of $8.70 billion. Schlumberger had a net margin of 12.72% and a return on equity of 21.88%. Schlumberger’s revenue was up 12.6% compared to the same quarter last year. During the same quarter last year, the firm posted $0.63 EPS. On average, research analysts expect that Schlumberger Limited will post 3.51 earnings per share for the current fiscal year.

Schlumberger Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 11th. Shareholders of record on Wednesday, June 5th will be issued a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a yield of 2.26%. This is an increase from Schlumberger’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend is Wednesday, June 5th. Schlumberger’s payout ratio is currently 36.54%.

Wall Street Analyst Weigh In

SLB has been the topic of several recent analyst reports. Stifel Nicolaus reiterated a “buy” rating and issued a $64.00 price target on shares of Schlumberger in a research note on Monday, April 22nd. Bank of America reduced their price target on Schlumberger from $63.00 to $62.00 and set a “buy” rating on the stock in a report on Monday, April 22nd. Susquehanna reiterated a “positive” rating and issued a $77.00 price objective on shares of Schlumberger in a report on Monday, April 22nd. Royal Bank of Canada boosted their target price on shares of Schlumberger from $66.00 to $69.00 and gave the stock an “outperform” rating in a report on Wednesday, April 3rd. Finally, TD Cowen dropped their price target on shares of Schlumberger from $64.00 to $63.00 and set a “buy” rating for the company in a research note on Monday, April 22nd. Two research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $68.72.

Get Our Latest Stock Report on Schlumberger

About Schlumberger

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Schlumberger (NYSE:SLB)

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