Fragasso Financial Advisors Inc Sells 5,581 Shares of Schlumberger Limited (NYSE:SLB)

Fragasso Financial Advisors Inc cut its stake in shares of Schlumberger Limited (NYSE:SLB) by 5.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 94,938 shares of the oil and gas company’s stock after selling 5,581 shares during the quarter. Fragasso Financial Advisors Inc’s holdings in Schlumberger were worth $3,640,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently made changes to their positions in SLB. ORG Partners LLC lifted its holdings in shares of Schlumberger by 393.5% in the 3rd quarter. ORG Partners LLC now owns 607 shares of the oil and gas company’s stock worth $25,000 after acquiring an additional 484 shares during the last quarter. Prospera Private Wealth LLC bought a new stake in shares of Schlumberger in the 3rd quarter worth approximately $29,000. Ashton Thomas Securities LLC bought a new stake in shares of Schlumberger in the 3rd quarter worth approximately $37,000. DiNuzzo Private Wealth Inc. lifted its holdings in shares of Schlumberger by 1,068.3% in the 3rd quarter. DiNuzzo Private Wealth Inc. now owns 958 shares of the oil and gas company’s stock worth $40,000 after acquiring an additional 876 shares during the last quarter. Finally, J. Stern & Co. LLP bought a new stake in shares of Schlumberger in the 3rd quarter worth approximately $47,000. 81.99% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Schlumberger

In other Schlumberger 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 transaction, the executive vice president now owns 211,937 shares in the company, valued at approximately $8,880,160.30. This represents a 22.06 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.26% of the company’s stock.

Analyst Upgrades and Downgrades

SLB has been the topic of several analyst reports. JPMorgan Chase & Co. decreased their target price on shares of Schlumberger from $55.00 to $48.00 and set an “overweight” rating on the stock in a research note on Thursday, January 2nd. Jefferies Financial Group decreased their target price on shares of Schlumberger from $64.00 to $61.00 and set a “buy” rating on the stock in a research note on Friday, January 3rd. TD Cowen decreased their target price on shares of Schlumberger from $65.00 to $53.00 and set a “buy” rating on the stock in a research note on Wednesday, January 8th. Piper Sandler initiated coverage on shares of Schlumberger in a research note on Thursday, December 19th. They issued a “neutral” rating and a $47.00 target price on the stock. Finally, Dbs Bank initiated coverage on shares of Schlumberger in a research report on Wednesday, September 18th. They set a “buy” rating and a $64.50 price objective on the stock. Five investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $57.58.

Schlumberger Stock Up 3.2 %

Schlumberger stock traded up $1.25 during mid-day trading on Monday, reaching $39.87. The stock had a trading volume of 7,514,542 shares, compared to its average volume of 10,477,002. The company has a market capitalization of $56.30 billion, a price-to-earnings ratio of 12.82, a PEG ratio of 1.42 and a beta of 1.52. The company has a 50-day moving average price of $40.97 and a two-hundred day moving average price of $43.05. Schlumberger Limited has a one year low of $36.52 and a one year high of $55.69. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.48 and a quick ratio of 1.12.

Schlumberger (NYSE:SLB) last posted its earnings results on Friday, October 18th. The oil and gas company reported $0.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.88 by $0.01. The business had revenue of $9.16 billion for the quarter, compared to analysts’ expectations of $9.27 billion. Schlumberger had a net margin of 12.44% and a return on equity of 21.84%. The business’s revenue for the quarter was up 10.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.78 EPS. On average, analysts expect that Schlumberger Limited will post 3.39 EPS for the current fiscal year.

Schlumberger Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, January 9th. Shareholders of record on Wednesday, December 4th were paid a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a yield of 2.76%. The ex-dividend date of this dividend was Wednesday, December 4th. Schlumberger’s dividend payout ratio is currently 35.37%.

Schlumberger Company 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.