Alliance Wealth Advisors LLC Buys 875 Shares of Schlumberger Limited (NYSE:SLB)

Alliance Wealth Advisors LLC grew its position in shares of Schlumberger Limited (NYSE:SLB) by 6.2% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,961 shares of the oil and gas company’s stock after buying an additional 875 shares during the quarter. Alliance Wealth Advisors LLC’s holdings in Schlumberger were worth $628,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Vontobel Holding Ltd. boosted its position in Schlumberger by 29.1% in the third quarter. Vontobel Holding Ltd. now owns 383,827 shares of the oil and gas company’s stock worth $16,102,000 after purchasing an additional 86,608 shares during the last quarter. Sumitomo Life Insurance Co. increased its position in shares of Schlumberger by 4.3% during the 3rd quarter. Sumitomo Life Insurance Co. now owns 18,172 shares of the oil and gas company’s stock valued at $762,000 after purchasing an additional 755 shares during the last quarter. Stableford Capital II LLC lifted its stake in shares of Schlumberger by 22.2% in the 3rd quarter. Stableford Capital II LLC now owns 24,481 shares of the oil and gas company’s stock worth $1,096,000 after purchasing an additional 4,447 shares during the period. Foster Victor Wealth Advisors LLC boosted its holdings in shares of Schlumberger by 10.9% in the third quarter. Foster Victor Wealth Advisors LLC now owns 6,980 shares of the oil and gas company’s stock worth $309,000 after buying an additional 684 shares during the last quarter. Finally, Edge Wealth Management LLC grew its position in Schlumberger by 45.3% during the third quarter. Edge Wealth Management LLC now owns 265,682 shares of the oil and gas company’s stock valued at $11,145,000 after buying an additional 82,840 shares during the period. 81.99% of the stock is currently owned by hedge funds and other institutional investors.

Schlumberger Stock Performance

NYSE SLB opened at $43.67 on Thursday. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.49 and a quick ratio of 1.13. Schlumberger Limited has a 1-year low of $38.66 and a 1-year high of $61.20. The business has a 50 day simple moving average of $43.13 and a two-hundred day simple moving average of $46.18. The stock has a market capitalization of $62.42 billion, a PE ratio of 14.51, a P/E/G ratio of 0.96 and a beta of 1.51.

Schlumberger (NYSE:SLB) last posted its earnings results on Friday, July 19th. The oil and gas company reported $0.85 earnings per share for the quarter, beating analysts’ consensus estimates of $0.83 by $0.02. The firm had revenue of $9.14 billion during the quarter, compared to analyst estimates of $9.08 billion. Schlumberger had a net margin of 12.56% and a return on equity of 21.92%. Schlumberger’s revenue for the quarter was up 12.8% compared to the same quarter last year. During the same period last year, the firm posted $0.72 earnings per share. On average, research analysts predict that Schlumberger Limited will post 3.47 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Stephane Biguet sold 50,048 shares of the company’s stock in a transaction dated Monday, July 22nd. The shares were sold at an average price of $49.94, for a total transaction of $2,499,397.12. Following the sale, the chief financial officer now directly owns 203,076 shares in the company, valued at approximately $10,141,615.44. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Vijay Kasibhatla sold 10,000 shares of Schlumberger stock in a transaction that occurred on Monday, July 22nd. The stock was sold at an average price of $49.29, for a total value of $492,900.00. Following the completion of the transaction, the director now owns 62,354 shares in the company, valued at approximately $3,073,428.66. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Stephane Biguet sold 50,048 shares of the stock in a transaction on Monday, July 22nd. The shares were 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 in the company, valued at $10,141,615.44. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 180,716 shares of company stock valued at $9,048,624 in the last three months. Corporate insiders own 0.26% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. BMO Capital Markets decreased their price target on shares of Schlumberger from $60.00 to $58.00 and set an “outperform” rating on the stock in a research report on Thursday, October 10th. Piper Sandler decreased their target price on Schlumberger from $71.00 to $66.00 and set an “overweight” rating on the stock in a report on Monday, July 15th. Barclays cut their price target on Schlumberger from $67.00 to $63.00 and set an “overweight” rating for the company in a report on Wednesday. Morgan Stanley decreased their price objective on Schlumberger from $65.00 to $60.00 and set an “overweight” rating on the stock in a research note on Monday, September 16th. Finally, Wells Fargo & Company lowered their price objective on Schlumberger from $53.00 to $49.00 and set an “equal weight” rating on the stock in a research report on Wednesday, September 25th. Two investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $62.97.

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.