FORVIS Wealth Advisors LLC Lowers Stake in Schlumberger Limited (NYSE:SLB)

FORVIS Wealth Advisors LLC decreased its position in shares of Schlumberger Limited (NYSE:SLB) by 8.7% during the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 7,479 shares of the oil and gas company’s stock after selling 717 shares during the period. FORVIS Wealth Advisors LLC’s holdings in Schlumberger were worth $410,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the company. Turtle Creek Wealth Advisors LLC acquired a new stake in shares of Schlumberger during the fourth quarter worth $26,000. Register Financial Advisors LLC acquired a new stake in Schlumberger in the 1st quarter worth about $27,000. Transcendent Capital Group LLC acquired a new stake in Schlumberger in the 4th quarter worth about $32,000. Janiczek Wealth Management LLC grew its holdings in Schlumberger by 1,180.4% in the 4th quarter. Janiczek Wealth Management LLC now owns 653 shares of the oil and gas company’s stock valued at $34,000 after buying an additional 602 shares during the period. Finally, Pinnacle Bancorp Inc. increased its stake in shares of Schlumberger by 64.3% during the 4th quarter. Pinnacle Bancorp Inc. now owns 746 shares of the oil and gas company’s stock valued at $39,000 after acquiring an additional 292 shares during the last quarter. Institutional investors and hedge funds own 81.99% of the company’s stock.

Schlumberger Stock Down 0.6 %

NYSE:SLB traded down $0.30 on Friday, reaching $47.01. The stock had a trading volume of 648,723 shares, compared to its average volume of 11,237,516. The company has a 50-day moving average of $46.50 and a 200 day moving average of $49.50. The company has a current ratio of 1.37, a quick ratio of 1.02 and a debt-to-equity ratio of 0.49. The stock has a market cap of $67.19 billion, a P/E ratio of 15.72, a price-to-earnings-growth ratio of 0.91 and a beta of 1.55. Schlumberger Limited has a 12-month low of $42.61 and a 12-month high of $62.12.

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

Schlumberger Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 11th. Investors of record on Wednesday, June 5th will be paid a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a dividend yield of 2.34%. The ex-dividend date of this dividend is Wednesday, June 5th. This is a positive change from Schlumberger’s previous quarterly dividend of $0.25. Schlumberger’s payout ratio is 36.54%.

Insider Activity at Schlumberger

In other Schlumberger news, insider Gavin Rennick sold 38,083 shares of the firm’s stock in a transaction on Wednesday, May 22nd. The shares were sold at an average price of $48.28, for a total transaction of $1,838,647.24. Following the completion of the transaction, the insider now directly owns 45,851 shares of the company’s stock, valued at approximately $2,213,686.28. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Schlumberger news, insider Gavin Rennick sold 38,083 shares of the company’s stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of $48.28, for a total transaction of $1,838,647.24. Following the sale, the insider now owns 45,851 shares in the company, valued at $2,213,686.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CTO Demosthenis Pafitis sold 63,095 shares of Schlumberger stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $48.26, for a total value of $3,044,964.70. Following the completion of the transaction, the chief technology officer now owns 33,421 shares of the company’s stock, valued at approximately $1,612,897.46. The disclosure for this sale can be found here. Insiders have sold 106,158 shares of company stock valued at $5,099,893 over the last ninety days. Corporate insiders own 0.26% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on SLB shares. TD Cowen decreased their target price on shares of Schlumberger from $64.00 to $63.00 and set a “buy” rating on the stock in a research report on Monday, April 22nd. Bank of America lowered their price objective 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. Barclays dropped their price objective on Schlumberger from $74.00 to $70.00 and set an “overweight” rating for the company in a report on Thursday, April 4th. StockNews.com cut Schlumberger from a “buy” rating to a “hold” rating in a report on Thursday, June 6th. Finally, Benchmark restated a “buy” rating and set a $68.00 price target on shares of Schlumberger in a research note on Tuesday, June 25th. Two equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $68.59.

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.