CreativeOne Wealth LLC Raises Stake in Schlumberger Limited (NYSE:SLB)

CreativeOne Wealth LLC raised its position in Schlumberger Limited (NYSE:SLB) by 8.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,320 shares of the oil and gas company’s stock after purchasing an additional 405 shares during the period. CreativeOne Wealth LLC’s holdings in Schlumberger were worth $204,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of SLB. Wilmington Savings Fund Society FSB increased its holdings in shares of Schlumberger by 27.0% in the 3rd quarter. Wilmington Savings Fund Society FSB now owns 76,838 shares of the oil and gas company’s stock valued at $3,223,000 after acquiring an additional 16,350 shares during the last quarter. Dynamic Technology Lab Private Ltd grew its position in Schlumberger by 32.2% during the fourth quarter. Dynamic Technology Lab Private Ltd now owns 71,390 shares of the oil and gas company’s stock worth $2,737,000 after buying an additional 17,405 shares during the period. Geode Capital Management LLC increased its holdings in Schlumberger by 4.8% during the 4th quarter. Geode Capital Management LLC now owns 29,985,360 shares of the oil and gas company’s stock valued at $1,146,195,000 after acquiring an additional 1,377,134 shares in the last quarter. Bryn Mawr Capital Management LLC boosted its stake in shares of Schlumberger by 502.6% during the 4th quarter. Bryn Mawr Capital Management LLC now owns 198,024 shares of the oil and gas company’s stock worth $7,592,000 after purchasing an additional 165,162 shares during the last quarter. Finally, Narwhal Capital Management lifted its holdings in shares of Schlumberger by 225.5% during the 4th quarter. Narwhal Capital Management now owns 74,645 shares of the oil and gas company’s stock worth $2,862,000 after acquiring an additional 51,715 shares during the period. 81.99% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

SLB has been the subject of several research reports. JPMorgan Chase & Co. boosted their price objective on shares of Schlumberger from $48.00 to $50.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 21st. BMO Capital Markets decreased their price target on shares of Schlumberger from $53.00 to $48.00 in a research report on Thursday, January 16th. Citigroup raised their price objective on Schlumberger from $50.00 to $54.00 and gave the company a “buy” rating in a research report on Tuesday, January 21st. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $57.00 target price on shares of Schlumberger in a research report on Tuesday, January 21st. Finally, Wells Fargo & Company raised Schlumberger from an “equal weight” rating to an “overweight” rating and reduced their price target for the stock from $46.00 to $44.00 in a research report on Tuesday, April 8th. Five analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $54.15.

Schlumberger Stock Down 1.4 %

Shares of Schlumberger stock opened at $34.62 on Tuesday. Schlumberger Limited has a 1-year low of $31.11 and a 1-year high of $50.94. The company has a market capitalization of $47.08 billion, a P/E ratio of 11.13, a PEG ratio of 10.10 and a beta of 1.11. The business’s fifty day moving average price is $39.21 and its two-hundred day moving average price is $40.65. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.45 and a quick ratio of 1.11.

Insider Buying and Selling

In other news, EVP Abdellah Merad sold 60,000 shares of the stock in a transaction on Wednesday, January 29th. The stock was sold at an average price of $41.44, for a total value of $2,486,400.00. Following the completion of the sale, the executive vice president now owns 210,502 shares in the company, valued at $8,723,202.88. This represents a 22.18 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Gavin Rennick sold 26,990 shares of the business’s stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $40.92, for a total transaction of $1,104,430.80. Following the transaction, the insider now directly owns 53,584 shares in the company, valued at $2,192,657.28. The trade was a 33.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 117,647 shares of company stock valued at $4,876,679 over the last 90 days. 0.26% of the stock is currently owned by company 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.