Cantor Fitzgerald Investment Advisors L.P. Boosts Holdings in Schlumberger Limited (NYSE:SLB)

Cantor Fitzgerald Investment Advisors L.P. raised its stake in shares of Schlumberger Limited (NYSE:SLB) by 2.0% in the first quarter, according to its most recent 13F filing with the SEC. The fund owned 157,414 shares of the oil and gas company’s stock after buying an additional 3,074 shares during the period. Cantor Fitzgerald Investment Advisors L.P.’s holdings in Schlumberger were worth $6,580,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of SLB. Brighton Jones LLC raised its position in Schlumberger by 21.4% during the fourth quarter. Brighton Jones LLC now owns 6,611 shares of the oil and gas company’s stock valued at $253,000 after acquiring an additional 1,166 shares in the last quarter. Allworth Financial LP boosted its position in Schlumberger by 51.3% in the 4th quarter. Allworth Financial LP now owns 7,716 shares of the oil and gas company’s stock worth $321,000 after purchasing an additional 2,615 shares in the last quarter. Truist Financial Corp grew its stake in shares of Schlumberger by 8.1% during the 4th quarter. Truist Financial Corp now owns 182,865 shares of the oil and gas company’s stock worth $7,011,000 after purchasing an additional 13,753 shares during the period. Empower Advisory Group LLC boosted its holdings in Schlumberger by 8.3% during the fourth quarter. Empower Advisory Group LLC now owns 8,482 shares of the oil and gas company’s stock worth $325,000 after buying an additional 647 shares in the last quarter. Finally, D.A. Davidson & CO. increased its holdings in Schlumberger by 0.8% in the fourth quarter. D.A. Davidson & CO. now owns 128,066 shares of the oil and gas company’s stock valued at $4,910,000 after buying an additional 1,013 shares in the last quarter. Institutional investors and hedge funds own 81.99% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the company. Barclays dropped their target price on Schlumberger from $53.00 to $48.00 and set an “overweight” rating on the stock in a research report on Friday, April 25th. Morgan Stanley lowered their price target on Schlumberger from $50.00 to $45.00 and set an “overweight” rating on the stock in a research report on Friday, May 16th. Stifel Nicolaus reduced their target price on Schlumberger from $58.00 to $54.00 and set a “buy” rating for the company in a research note on Monday, April 28th. Wells Fargo & Company decreased their target price on Schlumberger from $46.00 to $43.00 and set an “overweight” rating on the stock in a research report on Thursday, June 5th. Finally, Susquehanna dropped their target price on shares of Schlumberger from $48.00 to $46.00 and set a “positive” rating on the stock in a research report on Monday, April 28th. Four research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Schlumberger has an average rating of “Moderate Buy” and an average price target of $52.38.

Schlumberger Stock Performance

NYSE SLB opened at $35.85 on Friday. The stock’s fifty day moving average is $34.50 and its two-hundred day moving average is $38.17. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.93 and a current ratio of 1.24. The firm has a market capitalization of $48.76 billion, a P/E ratio of 12.15, a price-to-earnings-growth ratio of 9.29 and a beta of 1.01. Schlumberger Limited has a fifty-two week low of $31.11 and a fifty-two week high of $50.94.

Schlumberger (NYSE:SLB) last posted its earnings results on Friday, April 25th. The oil and gas company reported $0.72 earnings per share for the quarter, missing the consensus estimate of $0.73 by ($0.01). The firm had revenue of $8.49 billion during the quarter, compared to analyst estimates of $8.64 billion. Schlumberger had a net margin of 11.62% and a return on equity of 21.76%. The business’s revenue for the quarter was down 2.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.75 earnings per share. On average, research analysts anticipate that Schlumberger Limited will post 3.38 earnings per share for the current year.

Schlumberger Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 10th. Shareholders of record on Wednesday, June 4th will be given a $0.285 dividend. The ex-dividend date of this dividend is Wednesday, June 4th. This represents a $1.14 dividend on an annualized basis and a yield of 3.18%. Schlumberger’s dividend payout ratio is currently 38.64%.

Insider Activity

In other news, Director La Chevardiere Patrick De sold 5,000 shares of Schlumberger stock in a transaction 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 completion of the sale, the director now directly owns 23,525 shares of the company’s stock, valued at approximately $789,969.50. The trade was a 17.53% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, 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 directly owns 31,031 shares in the company, valued at approximately $1,311,990.68. The trade was a 44.75% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.26% of the company’s stock.

About Schlumberger

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.