Schlumberger Limited (NYSE:SLB) Shares Bought by Cypress Capital Group

Cypress Capital Group raised its holdings in Schlumberger Limited (NYSE:SLB) by 4.5% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 29,541 shares of the oil and gas company’s stock after acquiring an additional 1,264 shares during the period. Cypress Capital Group’s holdings in Schlumberger were worth $1,239,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of SLB. Acadian Asset Management LLC boosted its position in shares of Schlumberger by 4.1% during the 1st quarter. Acadian Asset Management LLC now owns 8,638 shares of the oil and gas company’s stock worth $471,000 after purchasing an additional 337 shares during the period. Lake Street Advisors Group LLC boosted its position in Schlumberger by 77.3% in the 1st quarter. Lake Street Advisors Group LLC now owns 7,196 shares of the oil and gas company’s stock valued at $396,000 after buying an additional 3,138 shares during the period. Crewe Advisors LLC purchased a new position in Schlumberger in the 1st quarter valued at approximately $79,000. CreativeOne Wealth LLC boosted its position in Schlumberger by 53.3% in the 1st quarter. CreativeOne Wealth LLC now owns 6,302 shares of the oil and gas company’s stock valued at $345,000 after buying an additional 2,192 shares during the period. Finally, Axxcess Wealth Management LLC boosted its position in Schlumberger by 10.3% in the 1st quarter. Axxcess Wealth Management LLC now owns 35,770 shares of the oil and gas company’s stock valued at $1,961,000 after buying an additional 3,344 shares during the period. Institutional investors and hedge funds own 81.99% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on SLB. Sanford C. Bernstein upgraded shares of Schlumberger to a “strong-buy” rating in a report on Tuesday, November 12th. Citigroup dropped their price objective on shares of Schlumberger from $60.00 to $54.00 and set a “buy” rating on the stock in a research note on Tuesday, October 22nd. Royal Bank of Canada reissued an “outperform” rating and set a $69.00 price objective on shares of Schlumberger in a report on Thursday, October 3rd. TD Cowen decreased their price objective on shares of Schlumberger from $68.00 to $65.00 and set a “buy” rating on the stock in a report on Monday, October 21st. Finally, Evercore ISI reduced their price target 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. Two analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Schlumberger has a consensus rating of “Moderate Buy” and a consensus target price of $60.97.

Schlumberger Trading Up 1.0 %

NYSE:SLB opened at $43.53 on Thursday. The company has a quick ratio of 1.12, a current ratio of 1.48 and a debt-to-equity ratio of 0.52. The business’s 50 day moving average is $42.61 and its two-hundred day moving average is $44.60. Schlumberger Limited has a 52 week low of $38.66 and a 52 week high of $55.69. The company has a market cap of $61.47 billion, a PE ratio of 14.00, a P/E/G ratio of 1.52 and a beta of 1.52.

Schlumberger (NYSE:SLB) last issued its quarterly earnings data on Friday, October 18th. The oil and gas company reported $0.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.88 by $0.01. The business had revenue of $9.16 billion during the quarter, compared to the consensus estimate of $9.27 billion. Schlumberger had a return on equity of 21.84% and a net margin of 12.44%. The business’s revenue was up 10.2% on a year-over-year basis. During the same period in the previous year, the firm posted $0.78 earnings per share. On average, analysts predict that Schlumberger Limited will post 3.4 EPS for the current year.

Schlumberger Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 9th. Stockholders of record on Wednesday, December 4th will be issued a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a dividend yield of 2.53%. The ex-dividend date is Wednesday, December 4th. Schlumberger’s dividend payout ratio is 35.37%.

Insiders Place Their Bets

In related news, EVP Abdellah Merad sold 60,000 shares of Schlumberger stock in a transaction on Thursday, October 24th. The shares were sold at an average price of $41.90, for a total value of $2,514,000.00. Following the completion of the sale, the executive vice president now owns 211,937 shares of the company’s stock, valued at approximately $8,880,160.30. The trade was a 22.06 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.26% of the company’s stock.

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.