Beacon Financial Group Acquires Shares of 5,021 Schlumberger Limited (NYSE:SLB)

Beacon Financial Group acquired a new stake in shares of Schlumberger Limited (NYSE:SLB) during the first quarter, Holdings Channel reports. The firm acquired 5,021 shares of the oil and gas company’s stock, valued at approximately $210,000.

Other institutional investors also recently added to or reduced their stakes in the company. YANKCOM Partnership acquired a new position in Schlumberger in the fourth quarter worth $31,000. Stonebridge Financial Group LLC acquired a new position in Schlumberger in the fourth quarter worth $32,000. Golden State Wealth Management LLC acquired a new position in Schlumberger in the fourth quarter worth $34,000. True Wealth Design LLC boosted its stake in Schlumberger by 584.7% in the fourth quarter. True Wealth Design LLC now owns 986 shares of the oil and gas company’s stock worth $38,000 after purchasing an additional 842 shares in the last quarter. Finally, Bogart Wealth LLC boosted its stake in Schlumberger by 468.9% in the fourth quarter. Bogart Wealth LLC now owns 1,024 shares of the oil and gas company’s stock worth $39,000 after purchasing an additional 844 shares in the last quarter. 81.99% of the stock is owned by institutional investors and hedge funds.

Schlumberger Trading Up 2.4%

NYSE SLB opened at $33.87 on Friday. The stock has a 50-day simple moving average of $34.44 and a 200 day simple moving average of $38.67. The company has a market capitalization of $46.07 billion, a PE ratio of 10.89, a P/E/G ratio of 10.10 and a beta of 1.06. 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 Limited has a 12 month low of $31.11 and a 12 month high of $50.94.

Schlumberger (NYSE:SLB) last released its quarterly earnings data on Friday, April 25th. The oil and gas company reported $0.72 EPS for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.01). The company had revenue of $8.49 billion during the quarter, compared to the consensus estimate of $8.64 billion. Schlumberger had a net margin of 12.29% and a return on equity of 21.90%. The company’s revenue for the quarter was down 2.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.75 EPS. Research analysts forecast that Schlumberger Limited will post 3.38 EPS for the current year.

Schlumberger Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 10th. Shareholders of record on Wednesday, June 4th will be issued a $0.285 dividend. The ex-dividend date of this dividend is Wednesday, June 4th. This represents a $1.14 annualized dividend and a dividend yield of 3.37%. Schlumberger’s dividend payout ratio (DPR) is currently 38.64%.

Wall Street Analyst Weigh In

SLB has been the topic of a number of recent analyst reports. Barclays reduced their price objective on Schlumberger from $53.00 to $48.00 and set an “overweight” rating on the stock in a research note on Friday, April 25th. Piper Sandler reduced their price objective on Schlumberger from $46.00 to $44.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 29th. Jefferies Financial Group cut their price target on Schlumberger from $60.00 to $59.00 and set a “buy” rating on the stock in a research note on Thursday, March 27th. Morgan Stanley cut their price target on Schlumberger from $50.00 to $45.00 and set an “overweight” rating on the stock in a research note on Friday, May 16th. Finally, Stifel Nicolaus cut their price target on Schlumberger from $58.00 to $54.00 and set a “buy” rating on the stock in a research note on Monday, April 28th. Four analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $52.38.

Insiders Place Their Bets

In related news, Director La Chevardiere Patrick De sold 5,000 shares of the stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $33.58, for a total transaction of $167,900.00. Following the completion of the transaction, the director now directly owns 23,525 shares in the company, valued at approximately $789,969.50. This trade represents a 17.53% 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. Also, insider Aparna Raman sold 25,133 shares of the stock in a transaction dated Friday, March 28th. The stock was sold at an average price of $42.28, for a total value of $1,062,623.24. Following the transaction, the insider now owns 31,031 shares of the company’s stock, valued at approximately $1,311,990.68. The trade was a 44.75% decrease in their ownership of the stock. The disclosure for this sale can be found here. 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.