Pekin Hardy Strauss Inc. Has $1.09 Million Position in Schlumberger Limited (NYSE:SLB)

Pekin Hardy Strauss Inc. lifted its position in Schlumberger Limited (NYSE:SLB) by 9.6% during the second quarter, HoldingsChannel.com reports. The fund owned 23,011 shares of the oil and gas company’s stock after purchasing an additional 2,015 shares during the period. Pekin Hardy Strauss Inc.’s holdings in Schlumberger were worth $1,086,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of SLB. Gryphon Financial Partners LLC grew its holdings in shares of Schlumberger by 46.3% in the 4th quarter. Gryphon Financial Partners LLC now owns 6,538 shares of the oil and gas company’s stock valued at $340,000 after buying an additional 2,068 shares during the period. Financial Advocates Investment Management grew its stake in Schlumberger by 25.5% in the fourth quarter. Financial Advocates Investment Management now owns 6,190 shares of the oil and gas company’s stock valued at $322,000 after acquiring an additional 1,259 shares during the period. Independent Advisor Alliance increased its holdings in shares of Schlumberger by 28.9% in the fourth quarter. Independent Advisor Alliance now owns 10,351 shares of the oil and gas company’s stock worth $539,000 after acquiring an additional 2,323 shares in the last quarter. Gladstone Institutional Advisory LLC raised its position in shares of Schlumberger by 42.8% during the fourth quarter. Gladstone Institutional Advisory LLC now owns 8,570 shares of the oil and gas company’s stock worth $446,000 after purchasing an additional 2,570 shares during the period. Finally, Coldstream Capital Management Inc. lifted its holdings in shares of Schlumberger by 4.3% during the 4th quarter. Coldstream Capital Management Inc. now owns 22,893 shares of the oil and gas company’s stock valued at $1,191,000 after purchasing an additional 942 shares in the last quarter. Institutional investors own 81.99% of the company’s stock.

Schlumberger Price Performance

NYSE:SLB opened at $41.50 on Wednesday. The stock has a market capitalization of $59.32 billion, a PE ratio of 13.79, a P/E/G ratio of 0.85 and a beta of 1.52. The company has a current ratio of 1.49, a quick ratio of 1.13 and a debt-to-equity ratio of 0.55. The firm has a fifty day simple moving average of $44.71 and a 200 day simple moving average of $47.52. Schlumberger Limited has a 1-year low of $38.66 and a 1-year high of $61.78.

Schlumberger (NYSE:SLB) last issued its earnings results on Friday, July 19th. The oil and gas company reported $0.85 earnings per share (EPS) for the quarter, beating 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 analysts’ expectations of $9.08 billion. Schlumberger’s quarterly revenue was up 12.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.72 EPS. On average, research analysts expect that Schlumberger Limited will post 3.49 EPS 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 paid 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 2.65%. Schlumberger’s dividend payout ratio is currently 36.54%.

Wall Street Analyst Weigh In

Several analysts have commented on SLB shares. TD Cowen raised their target price on shares of Schlumberger from $62.00 to $64.00 and gave the stock a “buy” rating in a report on Monday, July 22nd. Piper Sandler dropped their price objective on shares of Schlumberger from $71.00 to $66.00 and set an “overweight” rating on the stock in a report on Monday, July 15th. Barclays reduced their target price on shares of Schlumberger from $70.00 to $67.00 and set an “overweight” rating for the company in a research note on Tuesday, July 23rd. UBS Group dropped their price target on Schlumberger from $67.00 to $63.00 and set a “buy” rating on the stock in a research note on Tuesday, August 20th. Finally, Susquehanna reduced their price objective on Schlumberger from $77.00 to $70.00 and set a “positive” rating for the company in a research report on Thursday, July 11th. Two equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $66.72.

Insider Buying and Selling

In other Schlumberger news, EVP Mogharbel Khaled Al sold 120,668 shares of Schlumberger stock in a transaction 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 of the company’s stock, valued at $12,432,012.81. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other Schlumberger news, EVP Mogharbel Khaled Al sold 120,668 shares of the stock in a transaction dated 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 transaction, the executive vice president now directly owns 247,699 shares of the company’s stock, valued at approximately $12,432,012.81. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Stephane Biguet sold 50,048 shares of the business’s stock in a transaction that occurred on Monday, July 22nd. The stock was sold at an average price of $49.94, for a total value of $2,499,397.12. Following the sale, the chief financial officer now owns 203,076 shares of the company’s stock, valued at approximately $10,141,615.44. The disclosure for this sale can be found here. In the last three months, insiders have sold 180,716 shares of company stock valued at $9,048,624. 0.26% of the stock is owned by insiders.

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.