Aspen Wealth Strategies LLC Buys 2,008 Shares of Schlumberger Limited (NYSE:SLB)

Aspen Wealth Strategies LLC lifted its position in Schlumberger Limited (NYSE:SLB) by 16.6% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 14,139 shares of the oil and gas company’s stock after purchasing an additional 2,008 shares during the period. Aspen Wealth Strategies LLC’s holdings in Schlumberger were worth $593,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. ORG Partners LLC increased its position in shares of Schlumberger by 393.5% in the third quarter. ORG Partners LLC now owns 607 shares of the oil and gas company’s stock valued at $25,000 after acquiring an additional 484 shares during the period. Bruce G. Allen Investments LLC increased its holdings in Schlumberger by 204.2% during the 2nd quarter. Bruce G. Allen Investments LLC now owns 584 shares of the oil and gas company’s stock valued at $28,000 after purchasing an additional 392 shares during the period. Unique Wealth Strategies LLC purchased a new position in Schlumberger during the 2nd quarter valued at about $30,000. Manchester Capital Management LLC raised its position in Schlumberger by 297.9% during the 1st quarter. Manchester Capital Management LLC now owns 569 shares of the oil and gas company’s stock valued at $31,000 after purchasing an additional 426 shares during the last quarter. Finally, Riverview Trust Co lifted its holdings in Schlumberger by 90.6% in the 2nd quarter. Riverview Trust Co now owns 648 shares of the oil and gas company’s stock worth $31,000 after buying an additional 308 shares during the period. 81.99% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages recently commented on SLB. Piper Sandler decreased their target price on Schlumberger from $71.00 to $66.00 and set an “overweight” rating for the company in a report on Monday, July 15th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $60.00 target price (down from $62.00) on shares of Schlumberger in a research report on Monday, October 21st. Susquehanna reduced their price target on shares of Schlumberger from $60.00 to $56.00 and set a “positive” rating on the stock in a research report on Monday, October 21st. JPMorgan Chase & Co. decreased their price target on shares of Schlumberger from $64.00 to $60.00 and set an “overweight” rating for the company in a research note on Tuesday, October 1st. Finally, BMO Capital Markets cut their price objective on Schlumberger from $60.00 to $58.00 and set an “outperform” rating on the stock in a research report on Thursday, October 10th. Two investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. Based on data from MarketBeat.com, Schlumberger currently has an average rating of “Moderate Buy” and a consensus target price of $60.97.

Schlumberger Price Performance

Shares of NYSE SLB opened at $40.08 on Friday. The firm has a market cap of $56.60 billion, a P/E ratio of 12.89, a PEG ratio of 1.42 and a beta of 1.51. Schlumberger Limited has a twelve month low of $38.66 and a twelve month high of $57.75. The company has a quick ratio of 1.12, a current ratio of 1.48 and a debt-to-equity ratio of 0.52. The company has a 50 day moving average of $42.55 and a 200 day moving average of $45.27.

Schlumberger (NYSE:SLB) last posted its quarterly earnings results on Friday, October 18th. The oil and gas company reported $0.89 earnings per share for the quarter, topping the consensus estimate of $0.88 by $0.01. Schlumberger had a return on equity of 21.84% and a net margin of 12.44%. The firm had revenue of $9.16 billion during the quarter, compared to analysts’ expectations of $9.27 billion. During the same quarter in the previous year, the business earned $0.78 earnings per share. The company’s revenue was up 10.2% on a year-over-year basis. As a group, research analysts expect that Schlumberger Limited will post 3.4 EPS 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 paid a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a yield of 2.74%. The ex-dividend date is Wednesday, December 4th. Schlumberger’s dividend payout ratio is currently 35.37%.

Insider Activity

In other news, EVP Abdellah Merad sold 60,000 shares of the business’s stock in a transaction that occurred on 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 completion of the transaction, the executive vice president now directly owns 211,937 shares of the company’s stock, valued at $8,880,160.30. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.26% of the company’s stock.

Schlumberger 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.