Laurel Wealth Advisors LLC Sells 1,060 Shares of Schlumberger Limited (NYSE:SLB)

Laurel Wealth Advisors LLC cut its holdings in Schlumberger Limited (NYSE:SLB) by 16.5% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 5,351 shares of the oil and gas company’s stock after selling 1,060 shares during the quarter. Laurel Wealth Advisors LLC’s holdings in Schlumberger were worth $224,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Norges Bank acquired a new stake in shares of Schlumberger in the fourth quarter valued at approximately $735,398,000. Price T Rowe Associates Inc. MD boosted its position in Schlumberger by 7.4% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 75,986,195 shares of the oil and gas company’s stock valued at $2,913,312,000 after buying an additional 5,225,828 shares during the last quarter. Lazard Asset Management LLC increased its stake in shares of Schlumberger by 3,112.1% in the 4th quarter. Lazard Asset Management LLC now owns 3,627,051 shares of the oil and gas company’s stock valued at $139,059,000 after buying an additional 3,514,134 shares during the period. Deutsche Bank AG raised its position in shares of Schlumberger by 12.2% during the fourth quarter. Deutsche Bank AG now owns 28,737,703 shares of the oil and gas company’s stock worth $1,101,804,000 after acquiring an additional 3,119,543 shares during the last quarter. Finally, Clearbridge Investments LLC lifted its stake in shares of Schlumberger by 43,028.0% during the fourth quarter. Clearbridge Investments LLC now owns 2,652,804 shares of the oil and gas company’s stock valued at $101,708,000 after acquiring an additional 2,646,653 shares during the period. Institutional investors and hedge funds own 81.99% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently commented on the company. Jefferies Financial Group lowered their price objective on Schlumberger from $60.00 to $59.00 and set a “buy” rating for the company in a research report on Thursday, March 27th. Susquehanna lowered their price target on shares of Schlumberger from $48.00 to $46.00 and set a “positive” rating for the company in a research report on Monday, April 28th. Barclays cut their price objective on shares of Schlumberger from $53.00 to $48.00 and set an “overweight” rating on the stock in a report on Friday, April 25th. Piper Sandler dropped their target price on shares of Schlumberger from $46.00 to $44.00 and set a “neutral” rating for the company in a research report on Tuesday, April 29th. Finally, Wells Fargo & Company reduced their price target on Schlumberger from $46.00 to $43.00 and set an “overweight” rating on the stock in a research report on Thursday, June 5th. Four equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $52.38.

Insiders Place Their Bets

In other Schlumberger news, insider Aparna Raman sold 25,133 shares of the business’s stock in a transaction that occurred on Friday, March 28th. The stock was sold at an average price of $42.28, for a total transaction of $1,062,623.24. Following the transaction, the insider now owns 31,031 shares of the company’s stock, valued at $1,311,990.68. The trade was a 44.75% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director La Chevardiere Patrick De sold 5,000 shares of the company’s stock in a transaction that occurred on Thursday, May 22nd. The stock was sold at an average price of $33.58, for a total value of $167,900.00. Following the sale, the director now owns 23,525 shares in the company, valued at approximately $789,969.50. This represents a 17.53% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.26% of the company’s stock.

Schlumberger Stock Up 4.1%

Schlumberger stock opened at $35.52 on Wednesday. Schlumberger Limited has a twelve month low of $31.11 and a twelve month high of $50.94. 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 50 day moving average of $34.20 and a 200-day moving average of $38.51. The stock has a market capitalization of $48.31 billion, a PE ratio of 11.42, a price-to-earnings-growth ratio of 10.10 and a beta of 1.01.

Schlumberger (NYSE:SLB) last released its earnings results on Friday, April 25th. The oil and gas company reported $0.72 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.01). The firm had revenue of $8.49 billion for the quarter, compared to the consensus estimate of $8.64 billion. Schlumberger had a return on equity of 21.90% and a net margin of 12.29%. Schlumberger’s revenue for the quarter was down 2.5% on a year-over-year basis. During the same quarter last year, the company posted $0.75 EPS. On average, equities research analysts anticipate that Schlumberger Limited will post 3.38 EPS for the current fiscal year.

Schlumberger Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 10th. Shareholders of record on Wednesday, June 4th will be paid a $0.285 dividend. This represents a $1.14 annualized dividend and a yield of 3.21%. The ex-dividend date is Wednesday, June 4th. Schlumberger’s payout ratio is 38.64%.

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.