Cantor Fitzgerald Investment Advisors L.P. Acquires 1,342 Shares of Schlumberger Limited $SLB

Cantor Fitzgerald Investment Advisors L.P. lifted its holdings in Schlumberger Limited (NYSE:SLB) by 0.9% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 158,756 shares of the oil and gas company’s stock after acquiring an additional 1,342 shares during the period. Cantor Fitzgerald Investment Advisors L.P.’s holdings in Schlumberger were worth $5,366,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the business. Charles Schwab Investment Management Inc. raised its position in shares of Schlumberger by 478.8% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 47,719,476 shares of the oil and gas company’s stock worth $1,994,674,000 after acquiring an additional 39,474,501 shares in the last quarter. Boston Partners grew its stake in shares of Schlumberger by 27.7% in the 1st quarter. Boston Partners now owns 19,829,381 shares of the oil and gas company’s stock valued at $824,160,000 after buying an additional 4,300,222 shares during the period. Northern Trust Corp grew its stake in shares of Schlumberger by 4.4% in the 1st quarter. Northern Trust Corp now owns 14,422,499 shares of the oil and gas company’s stock valued at $602,860,000 after buying an additional 604,832 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of Schlumberger by 22.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 8,989,115 shares of the oil and gas company’s stock valued at $375,738,000 after buying an additional 1,667,203 shares during the period. Finally, Invesco Ltd. grew its stake in shares of Schlumberger by 3.8% in the 1st quarter. Invesco Ltd. now owns 7,659,177 shares of the oil and gas company’s stock valued at $320,154,000 after buying an additional 281,937 shares during the period. 81.99% of the stock is owned by institutional investors.

Insider Buying and Selling at Schlumberger

In other news, insider Dianne B. Ralston sold 39,727 shares of the business’s stock in a transaction that occurred on Friday, September 12th. The stock was sold at an average price of $36.08, for a total value of $1,433,350.16. Following the transaction, the insider owned 202,201 shares in the company, valued at $7,295,412.08. The trade was a 16.42% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.22% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. UBS Group reduced their target price on Schlumberger from $45.00 to $44.00 and set a “buy” rating for the company in a research note on Wednesday, August 20th. Atb Cap Markets upgraded Schlumberger from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, July 1st. JPMorgan Chase & Co. reduced their target price on Schlumberger from $46.00 to $44.00 and set an “overweight” rating for the company in a research note on Monday, June 30th. Zacks Research upgraded Schlumberger from a “strong sell” rating to a “hold” rating in a research note on Monday, September 15th. Finally, Piper Sandler reduced their target price on Schlumberger from $44.00 to $42.00 and set a “neutral” rating for the company in a research note on Friday, July 18th. Two research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $52.18.

Schlumberger Price Performance

SLB stock opened at $35.07 on Thursday. The company has a market capitalization of $52.38 billion, a P/E ratio of 12.01, a price-to-earnings-growth ratio of 9.54 and a beta of 0.97. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.98 and a current ratio of 1.31. Schlumberger Limited has a 52-week low of $31.11 and a 52-week high of $46.15. The business has a 50-day simple moving average of $34.68 and a two-hundred day simple moving average of $35.28.

Schlumberger (NYSE:SLB) last released its quarterly earnings results on Friday, July 18th. The oil and gas company reported $0.74 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.73 by $0.01. The business had revenue of $8.55 billion during the quarter, compared to the consensus estimate of $8.51 billion. Schlumberger had a return on equity of 20.99% and a net margin of 11.53%.The company’s quarterly revenue was down 6.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.85 EPS. Research analysts expect that Schlumberger Limited will post 3.38 EPS for the current fiscal year.

Schlumberger Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 9th. Stockholders of record on Wednesday, September 3rd will be paid a $0.285 dividend. This represents a $1.14 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date is Wednesday, September 3rd. Schlumberger’s payout ratio is presently 39.04%.

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.