Sowell Financial Services LLC Has $1.18 Million Stake in Schlumberger Limited (NYSE:SLB)

Sowell Financial Services LLC boosted its holdings in Schlumberger Limited (NYSE:SLB) by 23.2% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 28,248 shares of the oil and gas company’s stock after purchasing an additional 5,313 shares during the quarter. Sowell Financial Services LLC’s holdings in Schlumberger were worth $1,181,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Brighton Jones LLC raised its holdings in Schlumberger by 21.4% in the 4th 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. Strategic Financial Concepts LLC acquired a new position in Schlumberger in the fourth quarter valued at about $1,815,000. Allworth Financial LP raised its stake in Schlumberger by 51.3% in the fourth quarter. Allworth Financial LP now owns 7,716 shares of the oil and gas company’s stock valued at $321,000 after purchasing an additional 2,615 shares in the last quarter. J.W. Cole Advisors Inc. raised its stake in Schlumberger by 56.0% in the fourth quarter. J.W. Cole Advisors Inc. now owns 22,317 shares of the oil and gas company’s stock valued at $856,000 after purchasing an additional 8,011 shares in the last quarter. Finally, Sierra Ocean LLC acquired a new position in Schlumberger in the fourth quarter valued at about $74,000. 81.99% of the stock is currently owned by institutional investors and hedge funds.

Schlumberger Stock Performance

NYSE:SLB opened at $36.14 on Wednesday. The stock has a market cap of $49.16 billion, a P/E ratio of 12.25, a price-to-earnings-growth ratio of 9.30 and a beta of 1.01. The company has a current ratio of 1.24, a quick ratio of 0.93 and a debt-to-equity ratio of 0.51. The stock’s 50-day moving average is $34.44 and its 200-day moving average is $38.24. Schlumberger Limited has a 1-year low of $31.11 and a 1-year 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 analysts’ consensus estimates of $0.73 by ($0.01). Schlumberger had a return on equity of 21.76% and a net margin of 11.62%. The business had revenue of $8.49 billion for the quarter, compared to the consensus estimate of $8.64 billion. During the same period in the previous year, the firm earned $0.75 earnings per share. The company’s revenue was down 2.5% compared to the same quarter last year. Equities research analysts anticipate that Schlumberger Limited will post 3.38 earnings per share for the current year.

Schlumberger Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 10th. Investors of record on Wednesday, June 4th will be paid a $0.285 dividend. The ex-dividend date is Wednesday, June 4th. This represents a $1.14 annualized dividend and a dividend yield of 3.15%. Schlumberger’s dividend payout ratio is 38.64%.

Analyst Upgrades and Downgrades

Several research firms have commented on SLB. Susquehanna decreased their target price on shares of Schlumberger from $48.00 to $46.00 and set a “positive” rating on the stock in a report on Monday, April 28th. Morgan Stanley lowered their price objective on shares of Schlumberger from $50.00 to $45.00 and set an “overweight” rating for the company in a research report on Friday, May 16th. Jefferies Financial Group lowered their price objective on shares of Schlumberger from $60.00 to $59.00 and set a “buy” rating for the company in a research report on Thursday, March 27th. Piper Sandler lowered their price target on Schlumberger from $46.00 to $44.00 and set a “neutral” rating for the company in a report on Tuesday, April 29th. Finally, Wells Fargo & Company lowered their price target on Schlumberger from $46.00 to $43.00 and set an “overweight” rating for the company in a report on Thursday, June 5th. Four analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Schlumberger has a consensus rating of “Moderate Buy” and a consensus target price of $52.38.

Insider Buying and Selling

In related news, Director La Chevardiere Patrick De sold 5,000 shares of the company’s stock in a transaction that occurred 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 sale, the director now directly owns 23,525 shares in the company, valued at $789,969.50. This represents a 17.53% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Aparna Raman sold 25,133 shares of the company’s stock in a transaction that occurred on Friday, March 28th. The shares were sold at an average price of $42.28, for a total value of $1,062,623.24. Following the completion of the sale, the insider now owns 31,031 shares in the company, valued at $1,311,990.68. The trade was a 44.75% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.26% of the stock is currently owned by insiders.

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.