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

Atria Wealth Solutions Inc. grew its holdings in Schlumberger Limited (NYSE:SLB) by 41.4% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 44,830 shares of the oil and gas company’s stock after buying an additional 13,134 shares during the period. Atria Wealth Solutions Inc.’s holdings in Schlumberger were worth $1,719,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. CX Institutional raised its holdings in Schlumberger by 2.4% in the 4th quarter. CX Institutional now owns 10,370 shares of the oil and gas company’s stock valued at $398,000 after acquiring an additional 244 shares during the last quarter. GM Advisory Group LLC increased its holdings in shares of Schlumberger by 3.8% in the third quarter. GM Advisory Group LLC now owns 6,701 shares of the oil and gas company’s stock valued at $281,000 after purchasing an additional 247 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. lifted its position in Schlumberger by 0.5% during the fourth quarter. Tokio Marine Asset Management Co. Ltd. now owns 56,714 shares of the oil and gas company’s stock worth $2,174,000 after buying an additional 262 shares in the last quarter. Cordatus Wealth Management LLC boosted its stake in Schlumberger by 2.1% during the third quarter. Cordatus Wealth Management LLC now owns 13,383 shares of the oil and gas company’s stock worth $561,000 after buying an additional 281 shares during the last quarter. Finally, OneDigital Investment Advisors LLC boosted its stake in Schlumberger by 0.7% during the third quarter. OneDigital Investment Advisors LLC now owns 40,715 shares of the oil and gas company’s stock worth $1,708,000 after buying an additional 284 shares during the last quarter. 81.99% of the stock is owned by hedge funds and other institutional investors.

Schlumberger Price Performance

Shares of SLB opened at $41.73 on Friday. The company has a quick ratio of 1.11, a current ratio of 1.45 and a debt-to-equity ratio of 0.49. Schlumberger Limited has a fifty-two week low of $36.52 and a fifty-two week high of $55.69. The company has a market cap of $58.45 billion, a P/E ratio of 13.42, a PEG ratio of 10.10 and a beta of 1.51. The firm’s 50 day moving average price is $40.20 and its 200 day moving average price is $41.90.

Schlumberger (NYSE:SLB) last posted its quarterly earnings data on Friday, January 17th. The oil and gas company reported $0.92 earnings per share for the quarter, topping analysts’ consensus estimates of $0.90 by $0.02. The business had revenue of $9.28 billion for the quarter, compared to analyst estimates of $9.24 billion. Schlumberger had a return on equity of 21.90% and a net margin of 12.29%. The company’s revenue was up 3.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.86 earnings per share. On average, research analysts forecast that Schlumberger Limited will post 3.38 earnings per share for the current fiscal year.

Schlumberger Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 3rd. Stockholders of record on Wednesday, February 5th will be paid a $0.285 dividend. This represents a $1.14 annualized dividend and a dividend yield of 2.73%. The ex-dividend date of this dividend is Wednesday, February 5th. This is a boost from Schlumberger’s previous quarterly dividend of $0.28. Schlumberger’s dividend payout ratio (DPR) is presently 36.66%.

Analysts Set New Price Targets

A number of analysts have issued reports on SLB shares. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $57.00 target price on shares of Schlumberger in a research note on Tuesday, January 21st. Piper Sandler initiated coverage on shares of Schlumberger in a research report on Thursday, December 19th. They set a “neutral” rating and a $47.00 price objective for the company. Atb Cap Markets lowered shares of Schlumberger from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 10th. Sanford C. Bernstein upgraded shares of Schlumberger to a “strong-buy” rating in a report on Tuesday, November 12th. Finally, JPMorgan Chase & Co. upped their price objective on Schlumberger from $48.00 to $50.00 and gave the company an “overweight” rating in a report on Tuesday, January 21st. Six research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Schlumberger has an average rating of “Moderate Buy” and an average price target of $55.81.

Insider Transactions at Schlumberger

In other Schlumberger news, insider Bejar Carmen Rando sold 5,524 shares of the firm’s stock in a transaction on Friday, January 31st. The stock was sold at an average price of $40.41, for a total value of $223,224.84. Following the sale, the insider now directly owns 30,829 shares in the company, valued at $1,245,799.89. This trade represents a 15.20 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Vijay Kasibhatla sold 25,000 shares of the stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $43.94, for a total value of $1,098,500.00. Following the completion of the transaction, the director now owns 49,595 shares in the company, valued at approximately $2,179,204.30. The trade was a 33.51 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 263,782 shares of company stock valued at $11,442,229. 0.26% of the stock is currently owned by corporate 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.