Schlumberger Limited (NYSE:SLB) Position Raised by Avidian Wealth Enterprises LLC

Avidian Wealth Enterprises LLC grew its position in shares of Schlumberger Limited (NYSE:SLB) by 2.7% during the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 14,660 shares of the oil and gas company’s stock after purchasing an additional 391 shares during the quarter. Avidian Wealth Enterprises LLC’s holdings in Schlumberger were worth $615,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of the company. Norden Group LLC acquired a new position in shares of Schlumberger in the 1st quarter worth approximately $253,000. Larson Financial Group LLC increased its holdings in shares of Schlumberger by 123.5% in the first quarter. Larson Financial Group LLC now owns 2,076 shares of the oil and gas company’s stock valued at $114,000 after buying an additional 1,147 shares in the last quarter. Signaturefd LLC lifted its position in shares of Schlumberger by 5.2% during the 1st quarter. Signaturefd LLC now owns 22,612 shares of the oil and gas company’s stock valued at $1,239,000 after acquiring an additional 1,119 shares during the last quarter. Manchester Capital Management LLC boosted its stake in shares of Schlumberger by 297.9% during the 1st 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. Finally, Advisory Services Network LLC grew its holdings in shares of Schlumberger by 55.3% in the 1st quarter. Advisory Services Network LLC now owns 79,022 shares of the oil and gas company’s stock worth $4,331,000 after acquiring an additional 28,152 shares during the last quarter. 81.99% of the stock is owned by institutional investors and hedge funds.

Schlumberger Trading Up 8.0 %

NYSE:SLB opened at $43.78 on Thursday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.12 and a current ratio of 1.48. The company has a market capitalization of $61.82 billion, a P/E ratio of 14.08, a P/E/G ratio of 1.42 and a beta of 1.52. The stock’s 50 day moving average price is $42.25 and its 200 day moving average price is $44.96. Schlumberger Limited has a 52 week low of $38.66 and a 52 week high of $55.69.

Schlumberger (NYSE:SLB) last released its quarterly 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 for 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%. Schlumberger’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 EPS. On average, research analysts forecast that Schlumberger Limited will post 3.4 EPS for the current fiscal year.

Schlumberger Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 9th. Stockholders of record on Wednesday, December 4th will be paid a dividend of $0.275 per share. The ex-dividend date is Wednesday, December 4th. This represents a $1.10 annualized dividend and a dividend yield of 2.51%. Schlumberger’s dividend payout ratio (DPR) is presently 35.37%.

Insider Activity at Schlumberger

In other Schlumberger news, EVP Abdellah Merad sold 60,000 shares of the company’s stock in a transaction that occurred on Thursday, October 24th. The stock was sold at an average price of $41.90, for a total transaction of $2,514,000.00. Following the completion of the sale, the executive vice president now owns 211,937 shares of the company’s stock, valued at $8,880,160.30. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.26% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

SLB has been the subject of a number of recent analyst reports. Bank of America decreased their price target on Schlumberger from $58.00 to $54.00 and set a “buy” rating for the company in a research report on Monday, October 14th. Morgan Stanley dropped their target price on shares of Schlumberger from $65.00 to $60.00 and set an “overweight” rating on the stock in a research report on Monday, September 16th. Susquehanna cut their price target on shares of Schlumberger from $60.00 to $56.00 and set a “positive” rating on the stock in a report on Monday, October 21st. UBS Group decreased their price objective on shares of Schlumberger from $63.00 to $57.00 and set a “buy” rating for the company in a research note on Wednesday, September 18th. Finally, TD Cowen cut their target price on shares of Schlumberger from $68.00 to $65.00 and set a “buy” rating on the stock in a research note on Monday, October 21st. Two analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus 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.