Advisors Asset Management Inc. Acquires 7,159 Shares of Schlumberger Limited (NYSE:SLB)

Advisors Asset Management Inc. boosted its holdings in Schlumberger Limited (NYSE:SLB) by 5.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 132,764 shares of the oil and gas company’s stock after buying an additional 7,159 shares during the period. Advisors Asset Management Inc.’s holdings in Schlumberger were worth $7,277,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Axxcess Wealth Management LLC grew its holdings in shares of Schlumberger by 10.3% during the 1st quarter. Axxcess Wealth Management LLC now owns 35,770 shares of the oil and gas company’s stock worth $1,961,000 after purchasing an additional 3,344 shares in the last quarter. Carlson Capital L P acquired a new stake in shares of Schlumberger during the 1st quarter worth approximately $3,020,000. Freestone Capital Holdings LLC acquired a new stake in shares of Schlumberger during the 1st quarter worth approximately $2,555,000. CreativeOne Wealth LLC grew its holdings in shares of Schlumberger by 53.3% during the 1st quarter. CreativeOne Wealth LLC now owns 6,302 shares of the oil and gas company’s stock worth $345,000 after purchasing an additional 2,192 shares in the last quarter. Finally, Shell Asset Management Co. grew its holdings in shares of Schlumberger by 6.8% during the 1st quarter. Shell Asset Management Co. now owns 64,492 shares of the oil and gas company’s stock worth $3,535,000 after purchasing an additional 4,134 shares in the last quarter. 81.99% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently commented on SLB shares. Barclays decreased their price target on Schlumberger from $70.00 to $67.00 and set an “overweight” rating on the stock in a research note on Tuesday. Bank of America decreased their price target on Schlumberger from $62.00 to $58.00 and set a “buy” rating on the stock in a research note on Monday, July 15th. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Schlumberger in a research note on Monday, April 1st. Benchmark reaffirmed a “buy” rating and issued a $68.00 price target on shares of Schlumberger in a research note on Monday. Finally, Wells Fargo & Company lowered Schlumberger from an “overweight” rating to an “equal weight” rating and decreased their price target for the company from $68.00 to $53.00 in a research note on Monday, April 29th. Two investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $67.56.

Schlumberger Trading Up 1.2 %

NYSE:SLB traded up $0.60 on Friday, reaching $48.83. The company’s stock had a trading volume of 8,187,262 shares, compared to its average volume of 11,073,436. Schlumberger Limited has a 1-year low of $42.61 and a 1-year high of $62.12. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.13 and a current ratio of 1.49. The firm has a market cap of $69.79 billion, a PE ratio of 16.02, a PEG ratio of 1.02 and a beta of 1.55. The business’s 50-day moving average price is $46.31 and its two-hundred day moving average price is $48.99.

Schlumberger (NYSE:SLB) last posted its quarterly earnings data on Friday, July 19th. The oil and gas company reported $0.85 earnings per share for the quarter, topping the consensus estimate of $0.83 by $0.02. The company had revenue of $9.14 billion during the quarter, compared to analysts’ expectations of $9.08 billion. Schlumberger had a return on equity of 21.92% and a net margin of 12.56%. Schlumberger’s revenue for the quarter was up 12.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.72 earnings per share. Equities research analysts anticipate that Schlumberger Limited will post 3.5 earnings per share for the current fiscal year.

Schlumberger Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 10th. Investors of record on Wednesday, September 4th will be given a dividend of $0.275 per share. The ex-dividend date of this dividend is Wednesday, September 4th. This represents a $1.10 annualized dividend and a yield of 2.25%. Schlumberger’s dividend payout ratio (DPR) is presently 36.54%.

Insider Activity at Schlumberger

In related news, CTO Demosthenis Pafitis sold 63,095 shares of the stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $48.26, for a total transaction of $3,044,964.70. Following the completion of the transaction, the chief technology officer now directly owns 33,421 shares of the company’s stock, valued at $1,612,897.46. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Schlumberger news, CTO Demosthenis Pafitis sold 63,095 shares of the company’s stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $48.26, for a total value of $3,044,964.70. Following the sale, the chief technology officer now owns 33,421 shares in the company, valued at $1,612,897.46. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Bejar Carmen Rando sold 4,980 shares of the company’s stock in a transaction that occurred on Friday, June 7th. The shares were sold at an average price of $43.43, for a total value of $216,281.40. Following the completion of the sale, the insider now owns 22,518 shares in the company, valued at approximately $977,956.74. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 286,874 shares of company stock valued at $14,148,517. Insiders own 0.26% of the company’s stock.

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.