Nicholas Hoffman & Company LLC. Purchases 2,367 Shares of Schlumberger Limited (NYSE:SLB)

Nicholas Hoffman & Company LLC. increased its position in shares of Schlumberger Limited (NYSE:SLB) by 19.7% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 14,374 shares of the oil and gas company’s stock after purchasing an additional 2,367 shares during the period. Nicholas Hoffman & Company LLC.’s holdings in Schlumberger were worth $603,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the stock. Financial Advocates Investment Management grew its position in Schlumberger by 3.4% in the second quarter. Financial Advocates Investment Management now owns 6,558 shares of the oil and gas company’s stock valued at $309,000 after acquiring an additional 218 shares during the period. Chilton Capital Management LLC grew its position in Schlumberger by 0.8% in the second quarter. Chilton Capital Management LLC now owns 26,202 shares of the oil and gas company’s stock valued at $1,236,000 after acquiring an additional 219 shares during the period. Grove Bank & Trust grew its position in Schlumberger by 17.4% in the third quarter. Grove Bank & Trust now owns 1,514 shares of the oil and gas company’s stock valued at $64,000 after acquiring an additional 224 shares during the period. First PREMIER Bank grew its position in Schlumberger by 8.7% in the second quarter. First PREMIER Bank now owns 2,842 shares of the oil and gas company’s stock valued at $134,000 after acquiring an additional 227 shares during the period. Finally, Team Hewins LLC grew its position in Schlumberger by 3.0% in the first quarter. Team Hewins LLC now owns 7,924 shares of the oil and gas company’s stock valued at $436,000 after acquiring an additional 229 shares during the period. 81.99% of the stock is currently owned by institutional investors.

Schlumberger Trading Down 0.7 %

NYSE SLB opened at $40.16 on Thursday. The firm has a market cap of $57.40 billion, a P/E ratio of 13.34, a P/E/G ratio of 1.47 and a beta of 1.51. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.48 and a quick ratio of 1.12. The stock’s 50-day moving average is $42.63 and its 200-day moving average is $45.31. Schlumberger Limited has a one year low of $38.66 and a one year high of $57.75.

Schlumberger (NYSE:SLB) last released its quarterly earnings results on Friday, October 18th. The oil and gas company reported $0.89 EPS for the quarter, topping analysts’ consensus estimates of $0.88 by $0.01. The company had revenue of $9.16 billion for the quarter, compared to analyst estimates of $9.27 billion. Schlumberger had a return on equity of 21.84% and a net margin of 12.44%. Schlumberger’s revenue was up 10.2% compared to the same quarter last year. During the same quarter last year, the firm posted $0.78 earnings per share. Sell-side analysts anticipate that Schlumberger Limited will post 3.4 earnings per share for the current fiscal year.

Schlumberger Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 9th. Investors of record on Wednesday, December 4th will be issued a dividend of $0.275 per share. The ex-dividend date of this dividend is Wednesday, December 4th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 2.74%. Schlumberger’s payout ratio is presently 36.54%.

Analyst Upgrades and Downgrades

SLB has been the topic of a number of analyst reports. Piper Sandler lowered their price target on Schlumberger from $71.00 to $66.00 and set an “overweight” rating on the stock in a research report on Monday, July 15th. Dbs Bank began coverage on Schlumberger in a report on Wednesday, September 18th. They set a “buy” rating and a $64.50 target price on the stock. Benchmark restated a “buy” rating and set a $68.00 target price on shares of Schlumberger in a report on Monday, July 22nd. UBS Group decreased their target price on Schlumberger from $63.00 to $57.00 and set a “buy” rating on the stock in a report on Wednesday, September 18th. Finally, Stifel Nicolaus restated a “buy” rating and set a $60.00 target price (down previously from $62.00) on shares of Schlumberger in a report on Monday, October 21st. Two equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $60.97.

Insider Buying and Selling

In related news, EVP Abdellah Merad sold 60,000 shares of the stock in a transaction dated 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 in the company, valued at approximately $8,880,160.30. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.26% of the stock is owned by corporate insiders.

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.