CreativeOne Wealth LLC Buys Shares of 4,110 Schlumberger Limited (NYSE:SLB)

CreativeOne Wealth LLC purchased a new position in Schlumberger Limited (NYSE:SLB) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 4,110 shares of the oil and gas company’s stock, valued at approximately $214,000.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Turtle Creek Wealth Advisors LLC acquired a new stake in Schlumberger in the fourth quarter valued at approximately $26,000. Janiczek Wealth Management LLC lifted its stake in shares of Schlumberger by 1,180.4% in the 4th quarter. Janiczek Wealth Management LLC now owns 653 shares of the oil and gas company’s stock valued at $34,000 after purchasing an additional 602 shares during the last quarter. Pinnacle Bancorp Inc. boosted its holdings in Schlumberger by 64.3% in the fourth quarter. Pinnacle Bancorp Inc. now owns 746 shares of the oil and gas company’s stock worth $39,000 after purchasing an additional 292 shares in the last quarter. American National Bank increased its position in Schlumberger by 745.5% during the fourth quarter. American National Bank now owns 744 shares of the oil and gas company’s stock worth $39,000 after buying an additional 656 shares during the last quarter. Finally, Legacy Bridge LLC raised its holdings in Schlumberger by 39.4% during the fourth quarter. Legacy Bridge LLC now owns 853 shares of the oil and gas company’s stock valued at $44,000 after buying an additional 241 shares in the last quarter. 81.99% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, CTO Demosthenis Pafitis sold 63,095 shares of the firm’s stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $48.26, for a total transaction of $3,044,964.70. Following the completion of the transaction, the chief technology officer now owns 33,421 shares in the company, valued at approximately $1,612,897.46. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, CTO Demosthenis Pafitis sold 63,095 shares of the company’s stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $48.26, for a total value of $3,044,964.70. Following the sale, the chief technology officer now owns 33,421 shares of the company’s stock, valued at approximately $1,612,897.46. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Stephane Biguet sold 6,250 shares of Schlumberger stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $48.64, for a total transaction of $304,000.00. Following the transaction, the chief financial officer now directly owns 242,932 shares of the company’s stock, valued at $11,816,212.48. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 157,428 shares of company stock worth $7,613,612. Company insiders own 0.26% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on SLB. HSBC reissued a “buy” rating and set a $71.00 price objective on shares of Schlumberger in a report on Thursday, April 4th. Benchmark reiterated a “buy” rating and set a $68.00 price target on shares of Schlumberger in a report on Monday, April 22nd. BMO Capital Markets dropped their price target on shares of Schlumberger from $66.00 to $64.00 and set an “outperform” rating on the stock in a research report on Monday, April 22nd. Bank of America decreased their price objective on shares of Schlumberger from $63.00 to $62.00 and set a “buy” rating for the company in a report on Monday, April 22nd. Finally, Morgan Stanley reiterated an “overweight” rating and issued a $65.00 target price on shares of Schlumberger in a report on Monday, April 22nd. Two research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $68.72.

Schlumberger Stock Performance

Shares of NYSE SLB opened at $46.24 on Friday. Schlumberger Limited has a one year low of $42.73 and a one year high of $62.12. The company has a current ratio of 1.37, a quick ratio of 1.02 and a debt-to-equity ratio of 0.49. The business has a fifty day simple moving average of $50.92 and a 200 day simple moving average of $50.78. The firm has a market capitalization of $66.09 billion, a price-to-earnings ratio of 15.36, a PEG ratio of 0.89 and a beta of 1.64.

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

Schlumberger Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 11th. Shareholders of record on Wednesday, June 5th will be issued a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a yield of 2.38%. This is an increase from Schlumberger’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend is Wednesday, June 5th. Schlumberger’s payout ratio is presently 36.54%.

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.