Hennion & Walsh Asset Management Inc. Increases Holdings in Schlumberger Limited (NYSE:SLB)

Hennion & Walsh Asset Management Inc. boosted its position in Schlumberger Limited (NYSE:SLB) by 28.8% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 67,792 shares of the oil and gas company’s stock after purchasing an additional 15,175 shares during the period. Hennion & Walsh Asset Management Inc.’s holdings in Schlumberger were worth $2,844,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the business. Financial Advocates Investment Management boosted its stake in shares of Schlumberger by 3.4% in the 2nd quarter. Financial Advocates Investment Management now owns 6,558 shares of the oil and gas company’s stock valued at $309,000 after purchasing an additional 218 shares in the last quarter. Chilton Capital Management LLC boosted its position in Schlumberger by 0.8% during the second quarter. Chilton Capital Management LLC now owns 26,202 shares of the oil and gas company’s stock valued at $1,236,000 after buying an additional 219 shares during the period. Grove Bank & Trust increased its holdings in shares of Schlumberger by 17.4% in the third quarter. Grove Bank & Trust now owns 1,514 shares of the oil and gas company’s stock worth $64,000 after buying an additional 224 shares during the period. First PREMIER Bank lifted its stake in shares of Schlumberger by 8.7% in the 2nd quarter. First PREMIER Bank now owns 2,842 shares of the oil and gas company’s stock valued at $134,000 after acquiring an additional 227 shares during the last quarter. Finally, Team Hewins LLC lifted its stake in shares of Schlumberger by 3.0% in the 1st quarter. Team Hewins LLC now owns 7,924 shares of the oil and gas company’s stock valued at $436,000 after acquiring an additional 229 shares during the last quarter. 81.99% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Schlumberger

In other news, EVP Abdellah Merad sold 60,000 shares of the company’s stock in a transaction dated Thursday, October 24th. The shares were sold at an average price of $41.90, for a total transaction of $2,514,000.00. Following the completion of the sale, the executive vice president now owns 211,937 shares of the company’s stock, valued at $8,880,160.30. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.26% of the company’s stock.

Schlumberger Stock Down 2.1 %

SLB stock opened at $41.25 on Friday. Schlumberger Limited has a twelve month low of $38.66 and a twelve month high of $57.75. The company has a quick ratio of 1.12, a current ratio of 1.48 and a debt-to-equity ratio of 0.52. The business has a 50 day moving average of $43.00 and a 200 day moving average of $45.75. The firm has a market cap of $58.96 billion, a PE ratio of 13.70, a price-to-earnings-growth ratio of 1.48 and a beta of 1.51.

Schlumberger (NYSE:SLB) last announced its quarterly earnings results on Friday, October 18th. The oil and gas company reported $0.89 earnings per share for the quarter, beating the consensus estimate of $0.88 by $0.01. Schlumberger had a net margin of 12.44% and a return on equity of 21.84%. The company had revenue of $9.16 billion during the quarter, compared to the consensus estimate of $9.27 billion. During the same quarter last year, the firm earned $0.78 earnings per share. The firm’s quarterly revenue was up 10.2% compared to the same quarter last year. On average, research analysts forecast that Schlumberger Limited will post 3.41 EPS for the current fiscal year.

Schlumberger Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 9th. Stockholders of record on Wednesday, December 4th will be issued a dividend of $0.275 per share. The ex-dividend date is Wednesday, December 4th. This represents a $1.10 annualized dividend and a dividend yield of 2.67%. Schlumberger’s payout ratio is 36.54%.

Analyst Upgrades and Downgrades

SLB has been the topic of a number of analyst reports. Morgan Stanley decreased their price target on Schlumberger from $65.00 to $60.00 and set an “overweight” rating on the stock in a research note on Monday, September 16th. Piper Sandler lowered their price target on shares of Schlumberger from $71.00 to $66.00 and set an “overweight” rating for the company in a report on Monday, July 15th. UBS Group cut their price target on shares of Schlumberger from $63.00 to $57.00 and set a “buy” rating on the stock in a report on Wednesday, September 18th. Stifel Nicolaus reaffirmed a “buy” rating and set a $60.00 price objective (down from $62.00) on shares of Schlumberger in a research note on Monday. Finally, TD Cowen cut their target price on Schlumberger from $68.00 to $65.00 and set a “buy” rating on the stock in a research note on Monday. Two investment 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 currently has an average rating of “Moderate Buy” and an average price target of $60.97.

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.