Dynamic Advisor Solutions LLC Grows Holdings in Schlumberger Limited (NYSE:SLB)

Dynamic Advisor Solutions LLC increased its stake in shares of Schlumberger Limited (NYSE:SLB) by 7.2% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 10,365 shares of the oil and gas company’s stock after purchasing an additional 696 shares during the period. Dynamic Advisor Solutions LLC’s holdings in Schlumberger were worth $435,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Financial Advocates Investment Management grew its position in Schlumberger by 3.4% in the 2nd quarter. Financial Advocates Investment Management now owns 6,558 shares of the oil and gas company’s stock valued at $309,000 after acquiring an additional 218 shares in the last quarter. Chilton Capital Management LLC boosted its holdings in Schlumberger by 0.8% in the second quarter. Chilton Capital Management LLC now owns 26,202 shares of the oil and gas company’s stock valued at $1,236,000 after purchasing an additional 219 shares during the period. First PREMIER Bank grew its stake in Schlumberger by 8.7% during the 2nd quarter. First PREMIER Bank now owns 2,842 shares of the oil and gas company’s stock worth $134,000 after purchasing an additional 227 shares in the last quarter. Team Hewins LLC grew its position in shares of Schlumberger by 3.0% during the first quarter. Team Hewins LLC now owns 7,924 shares of the oil and gas company’s stock worth $436,000 after buying an additional 229 shares in the last quarter. Finally, Sunbelt Securities Inc. lifted its stake in Schlumberger by 2.2% in the first quarter. Sunbelt Securities Inc. now owns 10,551 shares of the oil and gas company’s stock worth $578,000 after acquiring an additional 230 shares during the last quarter. Institutional investors and hedge funds own 81.99% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on SLB shares. Benchmark reiterated a “buy” rating and issued a $68.00 price objective on shares of Schlumberger in a report on Monday, July 22nd. Dbs Bank began coverage on shares of Schlumberger in a research note on Wednesday, September 18th. They set a “buy” rating and a $64.50 price target on the stock. Evercore ISI boosted their target price on Schlumberger from $73.00 to $74.00 and gave the company an “outperform” rating in a report on Monday, July 22nd. Morgan Stanley decreased their price objective on Schlumberger from $65.00 to $60.00 and set an “overweight” rating for the company in a report on Monday, September 16th. Finally, Piper Sandler reduced their target price on shares of Schlumberger from $71.00 to $66.00 and set an “overweight” rating for the company in a report on Monday, July 15th. Two analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Schlumberger presently has an average rating of “Moderate Buy” and an average price target of $63.42.

Schlumberger Stock Up 0.4 %

SLB opened at $44.78 on Friday. The business’s fifty day simple moving average is $43.10 and its 200 day simple moving average is $46.42. Schlumberger Limited has a 52 week low of $38.66 and a 52 week high of $61.20. The firm has a market cap of $64.01 billion, a P/E ratio of 14.88, a PEG ratio of 0.95 and a beta of 1.51. The company has a quick ratio of 1.13, a current ratio of 1.49 and a debt-to-equity ratio of 0.55.

Schlumberger (NYSE:SLB) last released its quarterly earnings results on Friday, July 19th. The oil and gas company reported $0.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.83 by $0.02. The company had revenue of $9.14 billion for the quarter, compared to analysts’ expectations of $9.08 billion. Schlumberger had a net margin of 12.56% and a return on equity of 21.92%. The firm’s revenue for the quarter was up 12.8% compared to the same quarter last year. During the same period last year, the company earned $0.72 EPS. As a group, equities research analysts anticipate that Schlumberger Limited will post 3.47 EPS for the current fiscal year.

Schlumberger Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 10th. Stockholders of record on Wednesday, September 4th were issued a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a dividend yield of 2.46%. The ex-dividend date of this dividend was Wednesday, September 4th. Schlumberger’s dividend payout ratio (DPR) is 36.54%.

Insider Activity

In related news, Director Vijay Kasibhatla sold 10,000 shares of the 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 transaction, the director now directly owns 62,354 shares in the company, valued at approximately $3,073,428.66. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, Director Vijay Kasibhatla sold 10,000 shares of the company’s stock in a transaction dated Monday, July 22nd. The shares were sold at an average price of $49.29, for a total transaction of $492,900.00. Following the completion of the transaction, the director now owns 62,354 shares of the company’s stock, valued at $3,073,428.66. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Mogharbel Khaled Al sold 120,668 shares of the firm’s stock in a transaction that occurred on Monday, July 22nd. The stock was sold at an average price of $50.19, for a total transaction of $6,056,326.92. Following the completion of the sale, the executive vice president now directly owns 247,699 shares in the company, valued at $12,432,012.81. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 180,716 shares of company stock valued at $9,048,624 over the last quarter. Company insiders own 0.26% of the company’s stock.

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.