Nations Financial Group Inc. IA ADV Sells 457 Shares of Schlumberger Limited (NYSE:SLB)

Nations Financial Group Inc. IA ADV trimmed its stake in shares of Schlumberger Limited (NYSE:SLB) by 7.0% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 6,035 shares of the oil and gas company’s stock after selling 457 shares during the period. Nations Financial Group Inc. IA ADV’s holdings in Schlumberger were worth $231,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Prospera Private Wealth LLC bought a new position in shares of Schlumberger during the 3rd quarter valued at approximately $29,000. YANKCOM Partnership bought a new position in Schlumberger during the fourth quarter valued at $31,000. Stonebridge Financial Group LLC purchased a new position in shares of Schlumberger in the 4th quarter worth $32,000. Golden State Wealth Management LLC bought a new stake in shares of Schlumberger in the 4th quarter worth about $34,000. Finally, Ashton Thomas Securities LLC purchased a new stake in shares of Schlumberger during the 3rd quarter valued at about $37,000. 81.99% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, EVP Abdellah Merad sold 60,000 shares of Schlumberger stock in a transaction on Wednesday, January 29th. The shares were sold at an average price of $41.44, for a total transaction of $2,486,400.00. Following the completion of the sale, the executive vice president now directly owns 210,502 shares in the company, valued at approximately $8,723,202.88. The trade was a 22.18 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Vijay Kasibhatla sold 25,000 shares of the company’s stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $43.94, for a total value of $1,098,500.00. Following the completion of the transaction, the director now directly owns 49,595 shares in the company, valued at approximately $2,179,204.30. The trade was a 33.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 263,782 shares of company stock valued at $11,442,229. 0.26% of the stock is currently owned by corporate insiders.

Schlumberger Trading Up 2.1 %

Shares of NYSE:SLB opened at $42.63 on Wednesday. Schlumberger Limited has a 12-month low of $36.52 and a 12-month high of $55.69. The business’s fifty day simple moving average is $40.09 and its 200-day simple moving average is $41.93. The company has a market capitalization of $59.71 billion, a PE ratio of 13.71, a P/E/G ratio of 9.49 and a beta of 1.51. The company has a current ratio of 1.45, a quick ratio of 1.11 and a debt-to-equity ratio of 0.49.

Schlumberger (NYSE:SLB) last released its quarterly earnings results on Friday, January 17th. The oil and gas company reported $0.92 EPS for the quarter, beating the consensus estimate of $0.90 by $0.02. The business had revenue of $9.28 billion during the quarter, compared to analyst estimates of $9.24 billion. Schlumberger had a net margin of 12.29% and a return on equity of 21.90%. The company’s quarterly revenue was up 3.3% on a year-over-year basis. During the same period in the prior year, the firm posted $0.86 earnings per share. As a group, equities research analysts predict that Schlumberger Limited will post 3.38 earnings per share 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 paid a $0.285 dividend. The ex-dividend date of this dividend is Wednesday, February 5th. This is a boost from Schlumberger’s previous quarterly dividend of $0.28. This represents a $1.14 dividend on an annualized basis and a yield of 2.67%. Schlumberger’s dividend payout ratio (DPR) is 36.66%.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on SLB. Piper Sandler initiated coverage on Schlumberger in a research note on Thursday, December 19th. They set a “neutral” rating and a $47.00 price objective on the stock. Evercore ISI restated an “in-line” rating and set a $44.00 price target (down previously from $62.00) on shares of Schlumberger in a report on Wednesday, January 15th. JPMorgan Chase & Co. lifted their price objective on shares of Schlumberger from $48.00 to $50.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 21st. BMO Capital Markets reduced their target price on shares of Schlumberger from $53.00 to $48.00 in a research note on Thursday, January 16th. Finally, Barclays dropped their price target on shares of Schlumberger from $61.00 to $53.00 and set an “overweight” rating for the company in a research note on Wednesday, December 18th. Six equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $55.81.

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.