Arkadios Wealth Advisors Has $1.05 Million Stake in Schlumberger Limited (NYSE:SLB)

Arkadios Wealth Advisors boosted its holdings in shares of Schlumberger Limited (NYSE:SLB) by 11.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 27,366 shares of the oil and gas company’s stock after buying an additional 2,752 shares during the period. Arkadios Wealth Advisors’ holdings in Schlumberger were worth $1,049,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the business. 1832 Asset Management L.P. bought a new position in Schlumberger during the 2nd quarter valued at about $91,364,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Schlumberger by 20.6% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 11,213,944 shares of the oil and gas company’s stock valued at $470,425,000 after purchasing an additional 1,916,851 shares in the last quarter. Legal & General Group Plc boosted its stake in Schlumberger by 14.0% in the second quarter. Legal & General Group Plc now owns 12,686,384 shares of the oil and gas company’s stock worth $598,544,000 after purchasing an additional 1,560,684 shares in the last quarter. Merewether Investment Management LP bought a new stake in shares of Schlumberger during the second quarter worth $42,957,000. Finally, Weiss Asset Management LP acquired a new stake in shares of Schlumberger in the third quarter valued at $37,322,000. Institutional investors and hedge funds own 81.99% of the company’s stock.

Insider Transactions at Schlumberger

In related news, EVP Abdellah Merad sold 60,000 shares of the firm’s stock in a transaction 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 transaction, the executive vice president now directly owns 211,937 shares of the company’s stock, valued at $8,880,160.30. This trade represents a 22.06 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.26% of the stock is owned by company insiders.

Schlumberger Trading Up 6.1 %

Shares of SLB opened at $43.58 on Monday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.12 and a current ratio of 1.48. Schlumberger Limited has a 52-week low of $36.52 and a 52-week high of $55.69. The firm has a market cap of $61.54 billion, a price-to-earnings ratio of 14.01, a PEG ratio of 1.35 and a beta of 1.52. The business’s fifty day moving average is $40.86 and its 200-day moving average is $42.87.

Schlumberger (NYSE:SLB) last issued its earnings results on Friday, January 17th. The oil and gas company reported $0.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.90 by $0.02. Schlumberger had a return on equity of 21.84% and a net margin of 12.44%. The business had revenue of $9.28 billion during the quarter, compared to analysts’ expectations of $9,241,140 billion. During the same quarter in the prior year, the firm earned $0.86 EPS. The business’s revenue for the quarter was up 3.3% compared to the same quarter last year. Equities analysts anticipate that Schlumberger Limited will post 3.39 EPS for the current fiscal year.

Schlumberger Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 3rd. Shareholders of record on Wednesday, February 5th will be given a $0.285 dividend. This is a boost from Schlumberger’s previous quarterly dividend of $0.28. This represents a $1.14 annualized dividend and a yield of 2.62%. The ex-dividend date of this dividend is Wednesday, February 5th. Schlumberger’s dividend payout ratio is 35.37%.

Analyst Ratings Changes

SLB has been the topic of a number of research analyst reports. Piper Sandler started coverage on shares of Schlumberger in a report on Thursday, December 19th. They set a “neutral” rating and a $47.00 price objective on the stock. Susquehanna cut their target price 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. Griffin Securities lowered shares of Schlumberger from a “buy” rating to a “neutral” rating in a report on Friday, December 20th. Bank of America cut their price target on Schlumberger from $58.00 to $54.00 and set a “buy” rating on the stock in a research note on Monday, October 14th. Finally, JPMorgan Chase & Co. decreased their price objective on Schlumberger from $55.00 to $48.00 and set an “overweight” rating for the company in a research note on Thursday, January 2nd. Six analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Schlumberger presently has an average rating of “Moderate Buy” and a consensus target price of $56.03.

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.