Clearstead Trust LLC Has $1.63 Million Holdings in Schlumberger Limited (NYSE:SLB)

Clearstead Trust LLC grew its holdings in Schlumberger Limited (NYSE:SLB) by 9.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 31,317 shares of the oil and gas company’s stock after purchasing an additional 2,591 shares during the period. Clearstead Trust LLC’s holdings in Schlumberger were worth $1,630,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Cambridge Investment Research Advisors Inc. increased its stake in shares of Schlumberger by 33.4% during the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 125,099 shares of the oil and gas company’s stock worth $7,293,000 after purchasing an additional 31,303 shares during the last quarter. Dakota Wealth Management grew its holdings in Schlumberger by 10.7% in the 3rd quarter. Dakota Wealth Management now owns 8,270 shares of the oil and gas company’s stock valued at $482,000 after buying an additional 801 shares during the last quarter. Raymond James Financial Services Advisors Inc. lifted its holdings in shares of Schlumberger by 24.9% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 337,251 shares of the oil and gas company’s stock worth $19,662,000 after buying an additional 67,243 shares during the last quarter. Stratos Wealth Partners LTD. boosted its position in shares of Schlumberger by 28.9% in the third quarter. Stratos Wealth Partners LTD. now owns 19,680 shares of the oil and gas company’s stock valued at $1,147,000 after acquiring an additional 4,417 shares during the period. Finally, Stratos Wealth Advisors LLC grew its stake in shares of Schlumberger by 3.8% in the third quarter. Stratos Wealth Advisors LLC now owns 12,870 shares of the oil and gas company’s stock worth $750,000 after acquiring an additional 468 shares during the last quarter. 81.99% of the stock is owned by hedge funds and other institutional investors.

Schlumberger Trading Up 0.2 %

Shares of SLB traded up $0.08 during trading hours on Friday, hitting $47.66. 11,007,407 shares of the stock were exchanged, compared to its average volume of 9,961,223. Schlumberger Limited has a fifty-two week low of $42.73 and a fifty-two week high of $62.12. The business has a 50-day moving average of $51.63 and a 200-day moving average of $51.79. The firm has a market capitalization of $68.12 billion, a P/E ratio of 15.83, a price-to-earnings-growth ratio of 0.92 and a beta of 1.64. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.37 and a quick ratio of 1.02.

Schlumberger (NYSE:SLB) last released its quarterly earnings data on Friday, April 19th. The oil and gas company reported $0.75 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.75. The company had revenue of $8.71 billion for the quarter, compared to analysts’ expectations of $8.70 billion. Schlumberger had a net margin of 12.72% and a return on equity of 21.88%. The business’s revenue was up 12.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.63 EPS. On average, research analysts expect that Schlumberger Limited will post 3.51 EPS for the current year.

Schlumberger Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 11th. Stockholders of record on Wednesday, June 5th will be paid a $0.275 dividend. The ex-dividend date is Wednesday, June 5th. This is an increase from Schlumberger’s previous quarterly dividend of $0.25. This represents a $1.10 annualized dividend and a dividend yield of 2.31%. Schlumberger’s dividend payout ratio is 36.54%.

Insider Activity at Schlumberger

In other news, EVP Abdellah Merad sold 50,000 shares of the company’s stock in a transaction on Monday, February 26th. The shares were sold at an average price of $48.52, for a total value of $2,426,000.00. Following the completion of the sale, the executive vice president now owns 261,507 shares in the company, valued at approximately $12,688,319.64. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, EVP Abdellah Merad sold 50,000 shares of the firm’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $48.52, for a total transaction of $2,426,000.00. Following the completion of the sale, the executive vice president now directly owns 261,507 shares of the company’s stock, valued at approximately $12,688,319.64. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Stephane Biguet sold 6,250 shares of the business’s stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $48.64, for a total transaction of $304,000.00. Following the completion of the transaction, the chief financial officer now directly owns 242,932 shares in the company, valued at $11,816,212.48. The disclosure for this sale can be found here. 0.26% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research firms recently weighed in on SLB. BMO Capital Markets decreased their target price on Schlumberger from $66.00 to $64.00 and set an “outperform” rating on the stock in a research report on Monday, April 22nd. Bank of America lowered their price target on shares of Schlumberger from $63.00 to $62.00 and set a “buy” rating on the stock in a report on Monday, April 22nd. Royal Bank of Canada lifted their target price on shares of Schlumberger from $66.00 to $69.00 and gave the company an “outperform” rating in a research report on Wednesday, April 3rd. Benchmark reissued a “buy” rating and issued a $68.00 price target on shares of Schlumberger in a research report on Monday, April 22nd. Finally, Susquehanna reiterated a “positive” rating and issued a $77.00 price objective on shares of Schlumberger in a research note on Monday, April 22nd. Two analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $68.72.

Schlumberger Company 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.