Forza Wealth Management LLC Acquires 1,983 Shares of Schlumberger Limited $SLB

Forza Wealth Management LLC raised its holdings in Schlumberger Limited (NYSE:SLB) by 31.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,357 shares of the oil and gas company’s stock after buying an additional 1,983 shares during the quarter. Forza Wealth Management LLC’s holdings in Schlumberger were worth $282,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. First Command Advisory Services Inc. increased its holdings in Schlumberger by 300.0% in the 1st quarter. First Command Advisory Services Inc. now owns 636 shares of the oil and gas company’s stock valued at $27,000 after buying an additional 477 shares during the period. Atticus Wealth Management LLC acquired a new stake in shares of Schlumberger in the 2nd quarter valued at $29,000. Atlas Capital Advisors Inc. acquired a new stake in shares of Schlumberger in the 1st quarter valued at $33,000. Thurston Springer Miller Herd & Titak Inc. boosted its stake in shares of Schlumberger by 55.3% in the 2nd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 983 shares of the oil and gas company’s stock valued at $33,000 after purchasing an additional 350 shares in the last quarter. Finally, Alpine Bank Wealth Management acquired a new stake in shares of Schlumberger in the 1st quarter valued at $34,000. Institutional investors own 81.99% of the company’s stock.

Schlumberger Trading Down 2.1%

Shares of Schlumberger stock opened at $34.36 on Wednesday. The business has a fifty day simple moving average of $34.68 and a two-hundred day simple moving average of $35.28. Schlumberger Limited has a 1 year low of $31.11 and a 1 year high of $46.15. The company has a market capitalization of $51.32 billion, a price-to-earnings ratio of 11.77, a P/E/G ratio of 9.75 and a beta of 1.05. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.31 and a quick ratio of 0.98.

Schlumberger (NYSE:SLB) last posted its quarterly earnings data on Friday, July 18th. The oil and gas company reported $0.74 earnings per share for the quarter, topping the consensus estimate of $0.73 by $0.01. The firm had revenue of $8.55 billion for the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same quarter last year, the business earned $0.85 EPS. Research analysts forecast that Schlumberger Limited will post 3.38 EPS for the current year.

Schlumberger Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on SLB shares. Zacks Research upgraded shares of Schlumberger from a “strong sell” rating to a “hold” rating in a research note on Monday, September 15th. Piper Sandler reduced their price target on shares of Schlumberger from $44.00 to $42.00 and set a “neutral” rating on the stock in a research report on Friday, July 18th. Atb Cap Markets upgraded shares of Schlumberger from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, July 1st. Melius initiated coverage on shares of Schlumberger in a research report on Wednesday, August 20th. They set a “buy” rating and a $82.00 target price on the stock. Finally, Barclays cut their target price on shares of Schlumberger from $47.00 to $46.00 and set an “overweight” rating on the stock in a research report on Monday, July 21st. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $52.18.

Insider Buying and Selling

In other Schlumberger news, insider Dianne B. Ralston sold 39,727 shares of the business’s stock in a transaction dated Friday, September 12th. The stock was sold at an average price of $36.08, for a total transaction of $1,433,350.16. Following the completion of the transaction, the insider owned 202,201 shares of the company’s stock, valued at approximately $7,295,412.08. The trade was a 16.42% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.22% of the company’s stock.

Schlumberger Company 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.