Ashton Thomas Private Wealth LLC Grows Stock Holdings in Schlumberger Limited (NYSE:SLB)

Ashton Thomas Private Wealth LLC raised its stake in shares of Schlumberger Limited (NYSE:SLB) by 13.9% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 49,479 shares of the oil and gas company’s stock after acquiring an additional 6,034 shares during the period. Ashton Thomas Private Wealth LLC’s holdings in Schlumberger were worth $2,076,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in SLB. ORG Partners LLC lifted its holdings in shares of Schlumberger by 393.5% during the third quarter. ORG Partners LLC now owns 607 shares of the oil and gas company’s stock worth $25,000 after purchasing an additional 484 shares during the period. Bruce G. Allen Investments LLC boosted its holdings in shares of Schlumberger by 204.2% in the second quarter. Bruce G. Allen Investments LLC now owns 584 shares of the oil and gas company’s stock valued at $28,000 after acquiring an additional 392 shares in the last quarter. Unique Wealth Strategies LLC purchased a new stake in shares of Schlumberger in the second quarter valued at about $30,000. Riverview Trust Co increased its stake in shares of Schlumberger by 90.6% during the second quarter. Riverview Trust Co now owns 648 shares of the oil and gas company’s stock worth $31,000 after acquiring an additional 308 shares during the period. Finally, First Community Trust NA raised its holdings in Schlumberger by 264.0% during the second quarter. First Community Trust NA now owns 728 shares of the oil and gas company’s stock worth $34,000 after purchasing an additional 528 shares in the last quarter. 81.99% of the stock is owned by institutional investors and hedge funds.

Schlumberger Price Performance

Shares of NYSE:SLB opened at $44.34 on Wednesday. The company has a market cap of $62.61 billion, a P/E ratio of 14.26, a P/E/G ratio of 1.56 and a beta of 1.52. The business has a fifty day simple moving average of $42.22 and a 200-day simple moving average of $44.80. Schlumberger Limited has a 52 week low of $38.66 and a 52 week high of $55.69. The company has a quick ratio of 1.12, a current ratio of 1.48 and a debt-to-equity ratio of 0.52.

Schlumberger (NYSE:SLB) last posted its quarterly earnings results on Friday, October 18th. The oil and gas company reported $0.89 EPS for the quarter, beating 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 company 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 EPS. The firm’s revenue was up 10.2% on a year-over-year basis. Equities research analysts forecast that Schlumberger Limited will post 3.4 EPS for the current year.

Schlumberger Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 9th. Shareholders of record on Wednesday, December 4th will be given a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a yield of 2.48%. The ex-dividend date is Wednesday, December 4th. Schlumberger’s dividend payout ratio (DPR) is presently 35.37%.

Insiders Place Their Bets

In other news, EVP Abdellah Merad sold 60,000 shares of the business’s stock in a transaction dated 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 in the company, valued at approximately $8,880,160.30. 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 this link. 0.26% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

SLB has been the topic of a number of analyst reports. Dbs Bank assumed coverage on Schlumberger in a research note on Wednesday, September 18th. They issued a “buy” rating and a $64.50 price target on the stock. Morgan Stanley decreased 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. TD Cowen cut their price target on shares of Schlumberger from $68.00 to $65.00 and set a “buy” rating for the company in a report on Monday, October 21st. Evercore ISI decreased their price objective on shares of Schlumberger from $74.00 to $62.00 and set an “outperform” rating on the stock in a report on Monday, October 21st. Finally, Barclays dropped their target price on shares of Schlumberger from $67.00 to $63.00 and set an “overweight” rating for the company in a report on Wednesday, October 16th. Two research 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 company has a consensus rating of “Moderate Buy” and a consensus price target of $60.97.

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.