Atria Wealth Solutions Inc. Raises Position in Schlumberger Limited (NYSE:SLB)

Atria Wealth Solutions Inc. boosted its position in Schlumberger Limited (NYSE:SLB) by 12.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 38,782 shares of the oil and gas company’s stock after purchasing an additional 4,368 shares during the period. Atria Wealth Solutions Inc.’s holdings in Schlumberger were worth $2,019,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in SLB. Stonegate Investment Group LLC grew its holdings in Schlumberger by 1.7% during the third quarter. Stonegate Investment Group LLC now owns 10,864 shares of the oil and gas company’s stock worth $633,000 after acquiring an additional 177 shares during the period. CI Investments Inc. increased its holdings in shares of Schlumberger by 4.9% in the 3rd quarter. CI Investments Inc. now owns 4,142 shares of the oil and gas company’s stock valued at $241,000 after purchasing an additional 192 shares in the last quarter. Montgomery Investment Management Inc. lifted its stake in shares of Schlumberger by 1.9% in the third quarter. Montgomery Investment Management Inc. now owns 10,920 shares of the oil and gas company’s stock valued at $637,000 after purchasing an additional 200 shares during the period. Allworth Financial LP lifted its stake in shares of Schlumberger by 3.8% in the third quarter. Allworth Financial LP now owns 5,557 shares of the oil and gas company’s stock valued at $324,000 after purchasing an additional 206 shares during the period. Finally, Independent Advisor Alliance boosted its holdings in Schlumberger by 2.7% during the third quarter. Independent Advisor Alliance now owns 8,028 shares of the oil and gas company’s stock worth $468,000 after buying an additional 208 shares in the last quarter. Institutional investors and hedge funds own 81.99% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on SLB shares. Barclays reduced their price target on shares of Schlumberger from $74.00 to $70.00 and set an “overweight” rating for the company in a research report on Thursday, April 4th. Benchmark reaffirmed a “buy” rating and set a $68.00 price objective on shares of Schlumberger in a report on Monday, April 22nd. Stifel Nicolaus restated a “buy” rating and issued a $64.00 price target on shares of Schlumberger in a research report on Monday, April 22nd. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Schlumberger in a research note on Monday, April 1st. Finally, Royal Bank of Canada increased their price target on shares of Schlumberger from $66.00 to $69.00 and gave the company an “outperform” rating in a research report on Wednesday, April 3rd. Two research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. According to data from MarketBeat, Schlumberger currently has an average rating of “Moderate Buy” and an average target price of $68.72.

Insiders Place Their Bets

In other news, EVP Abdellah Merad sold 50,000 shares of the firm’s stock in a transaction on Monday, February 26th. The shares were sold at an average price of $48.52, for a total value of $2,426,000.00. Following the transaction, the executive vice president now owns 261,507 shares of the company’s stock, valued at approximately $12,688,319.64. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, EVP Abdellah Merad sold 50,000 shares of the stock in a transaction on Monday, February 26th. The stock was sold at an average price of $48.52, for a total value of $2,426,000.00. Following the completion of the sale, the executive vice president now directly owns 261,507 shares in the company, valued at approximately $12,688,319.64. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Gavin Rennick sold 20,045 shares of the business’s stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $48.77, for a total value of $977,594.65. Following the transaction, the insider now owns 77,563 shares in the company, valued at approximately $3,782,747.51. The disclosure for this sale can be found here. Insiders sold a total of 76,295 shares of company stock worth $3,707,595 over the last ninety days. 0.26% of the stock is owned by company insiders.

Schlumberger Trading Up 0.0 %

SLB stock opened at $49.21 on Tuesday. The company has a quick ratio of 1.02, a current ratio of 1.37 and a debt-to-equity ratio of 0.49. The company has a market cap of $70.34 billion, a price-to-earnings ratio of 16.35, a PEG ratio of 0.95 and a beta of 1.60. The business has a fifty day simple moving average of $51.75 and a 200-day simple moving average of $52.02. Schlumberger Limited has a 52 week low of $42.73 and a 52 week high of $62.12.

Schlumberger (NYSE:SLB) last announced its quarterly earnings results on Friday, April 19th. The oil and gas company reported $0.75 EPS for the quarter, hitting the consensus estimate of $0.75. The company had revenue of $8.71 billion during the quarter, compared to analyst estimates of $8.70 billion. Schlumberger had a return on equity of 21.88% and a net margin of 12.72%. The firm’s revenue was up 12.6% on a year-over-year basis. During the same period in the prior year, the firm posted $0.63 earnings per share. On average, equities research analysts expect that Schlumberger Limited will post 3.51 EPS for the current year.

Schlumberger Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 11th. Shareholders of record on Wednesday, June 5th will be given a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a yield of 2.24%. This is a boost from Schlumberger’s previous quarterly dividend of $0.25. The ex-dividend date is Wednesday, June 5th. Schlumberger’s payout ratio is 36.54%.

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.