Avidian Wealth Enterprises LLC Purchases 705 Shares of Schlumberger Limited (NYSE:SLB)

Avidian Wealth Enterprises LLC raised its position in Schlumberger Limited (NYSE:SLB) by 4.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 15,365 shares of the oil and gas company’s stock after purchasing an additional 705 shares during the quarter. Avidian Wealth Enterprises LLC’s holdings in Schlumberger were worth $589,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. ORG Partners LLC raised its holdings in shares of Schlumberger by 393.5% in the third quarter. ORG Partners LLC now owns 607 shares of the oil and gas company’s stock worth $25,000 after buying an additional 484 shares during the period. Prospera Private Wealth LLC bought a new position in Schlumberger in the 3rd quarter valued at $29,000. YANKCOM Partnership purchased a new stake in Schlumberger in the fourth quarter worth $31,000. Stonebridge Financial Group LLC bought a new stake in shares of Schlumberger during the fourth quarter worth $32,000. Finally, Golden State Wealth Management LLC purchased a new stake in shares of Schlumberger during the fourth quarter valued at $34,000. Institutional investors own 81.99% of the company’s stock.

Schlumberger Stock Down 0.8 %

Shares of Schlumberger stock opened at $41.45 on Thursday. Schlumberger Limited has a 52-week low of $36.52 and a 52-week high of $55.69. The firm’s 50 day moving average price is $40.09 and its 200-day moving average price is $42.09. The company has a quick ratio of 1.11, a current ratio of 1.45 and a debt-to-equity ratio of 0.49. The company has a market cap of $58.07 billion, a P/E ratio of 13.33, a PEG ratio of 9.49 and a beta of 1.51.

Schlumberger (NYSE:SLB) last released its quarterly earnings results on Friday, January 17th. The oil and gas company reported $0.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.90 by $0.02. Schlumberger had a net margin of 12.29% and a return on equity of 21.90%. The business had revenue of $9.28 billion for the quarter, compared to analyst estimates of $9.24 billion. During the same period in the previous year, the company earned $0.86 earnings per share. The business’s revenue for the quarter was up 3.3% on a year-over-year basis. On average, sell-side analysts predict that Schlumberger Limited will post 3.38 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 paid a $0.285 dividend. The ex-dividend date 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 2.75%. Schlumberger’s dividend payout ratio (DPR) is 36.66%.

Insiders Place Their Bets

In related news, EVP Abdellah Merad sold 60,000 shares of the stock in a transaction that occurred on Wednesday, January 29th. The shares were sold at an average price of $41.44, for a total value of $2,486,400.00. Following the completion of the transaction, the executive vice president now directly owns 210,502 shares of the company’s stock, valued at $8,723,202.88. This trade represents a 22.18 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Vijay Kasibhatla sold 25,000 shares of Schlumberger stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $43.94, for a total transaction of $1,098,500.00. Following the completion of the sale, the director now owns 49,595 shares of the company’s stock, valued at $2,179,204.30. This trade represents 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.

Wall Street Analysts Forecast Growth

Several research firms recently commented on SLB. Citigroup raised their price target on shares of Schlumberger from $50.00 to $54.00 and gave the stock a “buy” rating in a research note on Tuesday, January 21st. Jefferies Financial Group reduced their target price on shares of Schlumberger from $64.00 to $61.00 and set a “buy” rating on the stock in a research report on Friday, January 3rd. TD Cowen boosted their price target on Schlumberger from $53.00 to $55.00 and gave the company a “buy” rating in a report on Tuesday, January 21st. Griffin Securities cut Schlumberger from a “buy” rating to a “neutral” rating in a research note on Friday, December 20th. Finally, Atb Cap Markets lowered Schlumberger from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 10th. 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. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $55.81.

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.