Legacy Financial Advisors Inc. Buys 339 Shares of Schlumberger Limited (NYSE:SLB)

Legacy Financial Advisors Inc. boosted its stake in shares of Schlumberger Limited (NYSE:SLB) by 8.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,237 shares of the oil and gas company’s stock after purchasing an additional 339 shares during the period. Legacy Financial Advisors Inc.’s holdings in Schlumberger were worth $220,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Royal Bank of Canada lifted its stake in Schlumberger by 79.7% in the 3rd quarter. Royal Bank of Canada now owns 4,919,990 shares of the oil and gas company’s stock worth $286,835,000 after purchasing an additional 2,182,706 shares in the last quarter. Sanders Capital LLC grew its holdings in shares of Schlumberger by 34.9% in the third quarter. Sanders Capital LLC now owns 8,056,492 shares of the oil and gas company’s stock worth $469,693,000 after purchasing an additional 2,085,506 shares during the last quarter. Invesco Ltd. raised its position in Schlumberger by 30.5% during the 3rd quarter. Invesco Ltd. now owns 8,370,835 shares of the oil and gas company’s stock valued at $488,020,000 after purchasing an additional 1,954,620 shares in the last quarter. Capital Wealth Planning LLC lifted its position in shares of Schlumberger by 48.2% in the 3rd quarter. Capital Wealth Planning LLC now owns 5,555,662 shares of the oil and gas company’s stock worth $323,895,000 after purchasing an additional 1,807,061 shares during the period. Finally, Vanguard Group Inc. grew its stake in Schlumberger by 1.1% in the third quarter. Vanguard Group Inc. now owns 130,528,372 shares of the oil and gas company’s stock valued at $7,609,804,000 after purchasing an additional 1,412,821 shares during the last quarter. Hedge funds and other institutional investors own 81.99% of the company’s stock.

Insider Buying and Selling

In other news, EVP Abdellah Merad sold 50,000 shares of the business’s stock in a transaction on Monday, February 26th. The shares were sold at an average price of $48.52, for a total transaction of $2,426,000.00. Following the completion of the transaction, the executive vice president now owns 261,507 shares of the company’s stock, valued at $12,688,319.64. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, EVP Abdellah Merad sold 50,000 shares of the business’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $48.52, for a total transaction of $2,426,000.00. Following the transaction, the executive vice president now directly owns 261,507 shares of the company’s stock, valued at $12,688,319.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Stephane Biguet sold 6,250 shares of the business’s stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $48.64, for a total value of $304,000.00. Following the completion of the sale, the chief financial officer now directly owns 242,932 shares of the company’s stock, valued at approximately $11,816,212.48. The disclosure for this sale can be found here. 0.26% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages recently commented on SLB. Susquehanna reaffirmed a “positive” rating and issued a $77.00 price objective on shares of Schlumberger in a research report on Monday, April 22nd. Royal Bank of Canada raised their price target on shares of Schlumberger from $66.00 to $69.00 and gave the company an “outperform” rating in a research note on Wednesday, April 3rd. BMO Capital Markets cut their price target on Schlumberger from $66.00 to $64.00 and set an “outperform” rating for the company in a report on Monday, April 22nd. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Schlumberger in a research note on Monday, April 1st. Finally, Morgan Stanley restated an “overweight” rating and issued a $65.00 price target on shares of Schlumberger in a research note on Monday, April 22nd. Two investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $68.72.

Schlumberger Trading Up 1.0 %

Shares of Schlumberger stock opened at $48.12 on Monday. The company has a market capitalization of $68.78 billion, a P/E ratio of 15.83, a PEG ratio of 0.92 and a beta of 1.64. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.02 and a current ratio of 1.37. The company’s fifty day moving average is $51.63 and its two-hundred day moving average is $51.67. Schlumberger Limited has a 1 year low of $42.73 and a 1 year high of $62.12.

Schlumberger (NYSE:SLB) last issued its earnings results on Friday, April 19th. The oil and gas company reported $0.75 earnings per share for the quarter, hitting the consensus estimate of $0.75. Schlumberger had a net margin of 12.72% and a return on equity of 21.88%. The company had revenue of $8.71 billion for the quarter, compared to analyst estimates of $8.70 billion. During the same period in the prior year, the business posted $0.63 earnings per share. The firm’s revenue for the quarter was up 12.6% compared to the same quarter last year. Analysts forecast that Schlumberger Limited will post 3.51 earnings per share for the current year.

Schlumberger Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 11th. Shareholders of record on Wednesday, June 5th will be paid a dividend of $0.275 per share. This is an increase from Schlumberger’s previous quarterly dividend of $0.25. This represents a $1.10 annualized dividend and a yield of 2.29%. The ex-dividend date is Wednesday, June 5th. Schlumberger’s payout ratio is currently 36.54%.

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.