Icon Wealth Advisors LLC Invests $258,000 in Schlumberger Limited (NYSE:SLB)

Icon Wealth Advisors LLC bought a new stake in shares of Schlumberger Limited (NYSE:SLB) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 6,160 shares of the oil and gas company’s stock, valued at approximately $258,000.

Other large investors also recently added to or reduced their stakes in the company. GM Advisory Group LLC increased its holdings in shares of Schlumberger by 3.8% in the third quarter. GM Advisory Group LLC now owns 6,701 shares of the oil and gas company’s stock worth $281,000 after buying an additional 247 shares during the period. Raymond James Trust N.A. grew its position in Schlumberger by 88.8% during the 3rd quarter. Raymond James Trust N.A. now owns 45,375 shares of the oil and gas company’s stock worth $1,903,000 after acquiring an additional 21,347 shares during the last quarter. Lathrop Investment Management Corp increased its stake in Schlumberger by 1.8% in the 3rd quarter. Lathrop Investment Management Corp now owns 189,297 shares of the oil and gas company’s stock worth $7,941,000 after purchasing an additional 3,257 shares during the period. Charles Schwab Investment Management Inc. lifted its position in Schlumberger by 0.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 7,990,797 shares of the oil and gas company’s stock valued at $335,214,000 after purchasing an additional 31,718 shares during the last quarter. Finally, John G Ullman & Associates Inc. boosted its stake in shares of Schlumberger by 26.4% during the third quarter. John G Ullman & Associates Inc. now owns 328,704 shares of the oil and gas company’s stock valued at $13,789,000 after purchasing an additional 68,700 shares during the period. Hedge funds and other institutional investors own 81.99% of the company’s stock.

Insider Transactions at Schlumberger

In related news, EVP Abdellah Merad sold 60,000 shares of the stock in a transaction dated Thursday, October 24th. The shares were sold at an average price of $41.90, for a total transaction of $2,514,000.00. Following the sale, the executive vice president now directly owns 211,937 shares of the company’s stock, valued at approximately $8,880,160.30. This represents a 22.06 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.26% of the company’s stock.

Schlumberger Stock Up 0.4 %

Shares of Schlumberger stock opened at $44.23 on Friday. Schlumberger Limited has a 1 year low of $38.66 and a 1 year high of $55.69. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.48 and a quick ratio of 1.12. The company has a 50-day moving average of $42.78 and a 200 day moving average of $44.55. The firm has a market cap of $62.46 billion, a price-to-earnings ratio of 14.22, a PEG ratio of 1.56 and a beta of 1.52.

Schlumberger (NYSE:SLB) last announced its earnings results on Friday, October 18th. The oil and gas company reported $0.89 earnings per share for the quarter, beating analysts’ consensus estimates of $0.88 by $0.01. The business had revenue of $9.16 billion during the quarter, compared to the consensus estimate of $9.27 billion. Schlumberger had a net margin of 12.44% and a return on equity of 21.84%. The business’s revenue for the quarter was up 10.2% on a year-over-year basis. During the same quarter last year, the firm earned $0.78 earnings per share. As a group, sell-side analysts anticipate that Schlumberger Limited will post 3.39 earnings per share for the current fiscal year.

Schlumberger Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 9th. Shareholders of record on Wednesday, December 4th will be issued a $0.275 dividend. This represents a $1.10 annualized dividend and a yield of 2.49%. The ex-dividend date is Wednesday, December 4th. Schlumberger’s dividend payout ratio (DPR) is 35.37%.

Analyst Ratings Changes

SLB has been the topic of several analyst reports. Stifel Nicolaus reaffirmed a “buy” rating and issued a $60.00 target price (down from $62.00) on shares of Schlumberger in a research note on Monday, October 21st. Evercore ISI lowered their price objective on shares of Schlumberger from $74.00 to $62.00 and set an “outperform” rating for the company in a research note on Monday, October 21st. Sanford C. Bernstein upgraded shares of Schlumberger to a “strong-buy” rating in a report on Tuesday, November 12th. Citigroup reduced their price target on Schlumberger from $60.00 to $54.00 and set a “buy” rating on the stock in a report on Tuesday, October 22nd. Finally, Bank of America cut their price objective on Schlumberger from $58.00 to $54.00 and set a “buy” rating on the stock in a research report on Monday, October 14th. Two equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $60.97.

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.