Linscomb Wealth Inc. Has $696,000 Stake in Schlumberger Limited (NYSE:SLB)

Linscomb Wealth Inc. increased its position in Schlumberger Limited (NYSE:SLB) by 14.5% in the first quarter, HoldingsChannel reports. The firm owned 12,695 shares of the oil and gas company’s stock after acquiring an additional 1,608 shares during the period. Linscomb Wealth Inc.’s holdings in Schlumberger were worth $696,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of SLB. Vanguard Group Inc. raised its holdings in shares of Schlumberger by 1.4% during the 1st quarter. Vanguard Group Inc. now owns 134,150,168 shares of the oil and gas company’s stock valued at $7,352,771,000 after purchasing an additional 1,868,688 shares in the last quarter. Capital World Investors raised its holdings in Schlumberger by 72.3% in the 1st quarter. Capital World Investors now owns 88,950,956 shares of the oil and gas company’s stock worth $4,875,402,000 after acquiring an additional 37,333,485 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in Schlumberger by 12.9% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 75,379,848 shares of the oil and gas company’s stock worth $3,922,768,000 after acquiring an additional 8,617,971 shares during the period. Norges Bank bought a new position in Schlumberger in the 4th quarter worth $1,000,292,000. Finally, Capital International Investors raised its holdings in Schlumberger by 0.6% in the 4th quarter. Capital International Investors now owns 14,797,363 shares of the oil and gas company’s stock worth $770,122,000 after acquiring an additional 89,483 shares during the period. Institutional investors and hedge funds own 81.99% of the company’s stock.

Insider Buying and Selling

In related news, Director Vijay Kasibhatla sold 10,000 shares of the business’s stock in a transaction that occurred on 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 sale, the director now directly owns 62,354 shares of the company’s stock, valued at $3,073,428.66. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other Schlumberger news, EVP Mogharbel Khaled Al sold 120,668 shares of the company’s stock in a transaction that occurred on Monday, July 22nd. The shares were sold at an average price of $50.19, for a total value of $6,056,326.92. Following the completion of the sale, the executive vice president now owns 247,699 shares of the company’s stock, valued at $12,432,012.81. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Vijay Kasibhatla sold 10,000 shares of the company’s stock in a transaction that occurred on 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 sale, the director now directly owns 62,354 shares of the company’s stock, valued at approximately $3,073,428.66. The disclosure for this sale can be found here. Insiders sold a total of 286,874 shares of company stock valued at $14,148,517 over the last ninety days. Insiders own 0.26% of the company’s stock.

Schlumberger Price Performance

Shares of SLB stock traded up $0.60 during trading hours on Friday, reaching $48.83. 8,231,538 shares of the company were exchanged, compared to its average volume of 8,735,330. Schlumberger Limited has a fifty-two week low of $42.61 and a fifty-two week high of $62.12. The stock’s fifty day moving average is $46.32 and its two-hundred day moving average is $48.98. The company has a market cap of $69.33 billion, a price-to-earnings ratio of 16.22, a P/E/G ratio of 1.03 and a beta of 1.55. 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 announced its 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 for the quarter, compared to analyst estimates of $9.08 billion. During the same period in the prior year, the business earned $0.72 earnings per share. Schlumberger’s quarterly revenue was up 12.8% on a year-over-year basis. Sell-side analysts forecast that Schlumberger Limited will post 3.5 earnings per share for the current fiscal year.

Schlumberger Dividend Announcement

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

Analyst Ratings Changes

Several research firms have recently issued reports on SLB. Barclays dropped their price objective on shares of Schlumberger from $70.00 to $67.00 and set an “overweight” rating on the stock in a report on Tuesday. Evercore ISI lifted their target price on shares of Schlumberger from $73.00 to $74.00 and gave the company an “outperform” rating in a research report on Monday, July 22nd. Bank of America decreased their target price on shares of Schlumberger from $62.00 to $58.00 and set a “buy” rating on the stock in a research report on Monday, July 15th. Piper Sandler decreased their target price on shares of Schlumberger from $71.00 to $66.00 and set an “overweight” rating on the stock in a research report on Monday, July 15th. Finally, Benchmark reiterated a “buy” rating and set a $68.00 target price on shares of Schlumberger in a research report on Monday, July 22nd. Two analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $67.56.

About Schlumberger

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.