Advisors Asset Management Inc. Purchases 7,159 Shares of Schlumberger Limited (NYSE:SLB)

Advisors Asset Management Inc. lifted its position in Schlumberger Limited (NYSE:SLB) by 5.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 132,764 shares of the oil and gas company’s stock after purchasing an additional 7,159 shares during the quarter. Advisors Asset Management Inc.’s holdings in Schlumberger were worth $7,277,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in SLB. Turtle Creek Wealth Advisors LLC bought a new position in shares of Schlumberger in the fourth quarter worth $26,000. Register Financial Advisors LLC purchased a new position in Schlumberger in the first quarter worth $27,000. Manchester Capital Management LLC grew its position in Schlumberger by 297.9% in the first quarter. Manchester Capital Management LLC now owns 569 shares of the oil and gas company’s stock worth $31,000 after acquiring an additional 426 shares in the last quarter. Transcendent Capital Group LLC purchased a new stake in Schlumberger during the fourth quarter valued at about $32,000. Finally, Janiczek Wealth Management LLC boosted its position in Schlumberger by 1,180.4% during the fourth 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. Institutional investors own 81.99% of the company’s stock.

Insider Activity

In other news, EVP Mogharbel Khaled Al sold 120,668 shares of Schlumberger stock in a transaction that occurred on Monday, July 22nd. The shares were sold at an average price of $50.19, for a total transaction of $6,056,326.92. Following the completion of the transaction, the executive vice president now directly owns 247,699 shares in the company, valued at $12,432,012.81. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Bejar Carmen Rando sold 4,980 shares of the business’s stock in a transaction that occurred on Friday, June 7th. The shares were sold at an average price of $43.43, for a total value of $216,281.40. Following the completion of the transaction, the insider now directly owns 22,518 shares in the company, valued at approximately $977,956.74. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Mogharbel Khaled Al sold 120,668 shares of the business’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 transaction, the executive vice president now owns 247,699 shares of the company’s stock, valued at $12,432,012.81. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 286,874 shares of company stock worth $14,148,517. Insiders own 0.26% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. Piper Sandler cut their price target on shares of Schlumberger from $71.00 to $66.00 and set an “overweight” rating for the company in a research report on Monday, July 15th. Royal Bank of Canada restated an “outperform” rating and set a $69.00 price target on shares of Schlumberger in a research report on Monday. TD Cowen upped their price target on shares of Schlumberger from $62.00 to $64.00 and gave the company a “buy” rating in a research report on Monday. Evercore ISI upped their price target on shares of Schlumberger from $73.00 to $74.00 and gave the company an “outperform” rating in a research report on Monday. Finally, StockNews.com lowered shares of Schlumberger from a “buy” rating to a “hold” rating in a research report on Thursday, June 6th. Two investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to data from MarketBeat.com, Schlumberger presently has a consensus rating of “Moderate Buy” and an average price target of $67.56.

Schlumberger Trading Up 1.2 %

SLB stock traded up $0.60 during trading on Friday, reaching $48.83. The company had a trading volume of 8,187,262 shares, compared to its average volume of 11,073,436. Schlumberger Limited has a 52 week low of $42.61 and a 52 week high of $62.12. The company has a market cap of $69.79 billion, a P/E ratio of 16.02, a PEG ratio of 1.02 and a beta of 1.55. The business has a 50 day moving average of $46.31 and a 200 day moving average of $48.99. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.49 and a quick ratio of 1.13.

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 analysts’ consensus estimates of $0.83 by $0.02. Schlumberger had a net margin of 12.56% and a return on equity of 21.92%. The company had revenue of $9.14 billion during the quarter, compared to the consensus estimate of $9.08 billion. During the same period in the prior year, the firm earned $0.72 earnings per share. Schlumberger’s revenue was up 12.8% on a year-over-year basis. As a group, sell-side analysts forecast that Schlumberger Limited will post 3.5 earnings per share for the current fiscal year.

Schlumberger Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 10th. Stockholders of record on Wednesday, September 4th will be issued a dividend of $0.275 per share. The ex-dividend date of this dividend is Wednesday, September 4th. This represents a $1.10 annualized dividend and a dividend yield of 2.25%. Schlumberger’s payout ratio is 36.54%.

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.