Sound View Wealth Advisors Group LLC Buys 573 Shares of Schlumberger Limited (NYSE:SLB)

Sound View Wealth Advisors Group LLC increased its stake in shares of Schlumberger Limited (NYSE:SLB) by 5.4% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 11,211 shares of the oil and gas company’s stock after purchasing an additional 573 shares during the period. Sound View Wealth Advisors Group LLC’s holdings in Schlumberger were worth $430,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Concurrent Investment Advisors LLC boosted its position in shares of Schlumberger by 269.1% in the third quarter. Concurrent Investment Advisors LLC now owns 19,718 shares of the oil and gas company’s stock valued at $827,000 after acquiring an additional 14,376 shares during the period. Equitable Trust Co. lifted its stake in Schlumberger by 33.7% in the 3rd quarter. Equitable Trust Co. now owns 10,830 shares of the oil and gas company’s stock worth $454,000 after purchasing an additional 2,727 shares in the last quarter. Essex Savings Bank boosted its holdings in Schlumberger by 18.8% in the 3rd quarter. Essex Savings Bank now owns 5,753 shares of the oil and gas company’s stock valued at $241,000 after purchasing an additional 910 shares during the period. Crossmark Global Holdings Inc. grew its position in shares of Schlumberger by 0.9% during the 3rd quarter. Crossmark Global Holdings Inc. now owns 60,405 shares of the oil and gas company’s stock valued at $2,534,000 after purchasing an additional 550 shares in the last quarter. Finally, Stockman Wealth Management Inc. increased its holdings in shares of Schlumberger by 14.0% in the third quarter. Stockman Wealth Management Inc. now owns 192,566 shares of the oil and gas company’s stock worth $8,078,000 after purchasing an additional 23,621 shares during the period. Institutional investors own 81.99% of the company’s stock.

Schlumberger Stock Performance

Shares of SLB stock opened at $41.36 on Monday. The company has a market capitalization of $56.25 billion, a P/E ratio of 13.30, a PEG ratio of 10.10 and a beta of 1.47. Schlumberger Limited has a fifty-two week low of $36.52 and a fifty-two week high of $55.69. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.11 and a current ratio of 1.45. The stock has a 50 day moving average price of $40.73 and a two-hundred day moving average price of $41.63.

Schlumberger (NYSE:SLB) last announced its quarterly earnings results on Friday, January 17th. The oil and gas company reported $0.92 earnings per share (EPS) 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 net margin of 12.29% and a return on equity of 21.90%. The company’s revenue was up 3.3% on a year-over-year basis. During the same quarter last year, the firm earned $0.86 EPS. Analysts expect that Schlumberger Limited will post 3.38 earnings per share for the current year.

Schlumberger Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 3rd. Investors of record on Wednesday, February 5th will be issued a dividend of $0.285 per share. This represents a $1.14 dividend on an annualized basis and a yield of 2.76%. The ex-dividend date is Wednesday, February 5th. This is an increase from Schlumberger’s previous quarterly dividend of $0.28. Schlumberger’s payout ratio is currently 36.66%.

Insider Buying and Selling at Schlumberger

In related news, insider Gavin Rennick sold 26,990 shares of the company’s stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $40.92, for a total transaction of $1,104,430.80. Following the completion of the transaction, the insider now owns 53,584 shares in the company, valued at $2,192,657.28. This represents a 33.50 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Ugo Prechner sold 7,000 shares of Schlumberger stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $44.20, for a total transaction of $309,400.00. Following the completion of the sale, the vice president now owns 11,240 shares in the company, valued at approximately $496,808. This trade represents a 38.38 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 290,772 shares of company stock valued at $12,546,660 in the last 90 days. Insiders own 0.26% of the company’s stock.

Analysts Set New Price Targets

SLB has been the subject of several research analyst reports. Royal Bank of Canada reissued an “outperform” rating and set a $57.00 price objective on shares of Schlumberger in a research note on Tuesday, January 21st. Wells Fargo & Company dropped their price target on Schlumberger from $49.00 to $46.00 and set an “equal weight” rating for the company in a research report on Tuesday, December 17th. Atb Cap Markets cut shares of Schlumberger from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 10th. BMO Capital Markets lowered their target price on shares of Schlumberger from $53.00 to $48.00 in a research note on Thursday, January 16th. Finally, TD Cowen boosted their price target on shares of Schlumberger from $53.00 to $55.00 and gave the stock a “buy” rating in a research note on Tuesday, January 21st. Six equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Schlumberger presently has an average rating of “Moderate Buy” and a consensus price target of $55.81.

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.