Creative Financial Designs Inc. ADV Acquires 852 Shares of Schlumberger Limited (NYSE:SLB)

by · The Markets Daily

Creative Financial Designs Inc. ADV boosted its stake in shares of Schlumberger Limited (NYSE:SLB – Free Report) by 8.7% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 10,594 shares of the oil and gas company’s stock after acquiring an additional 852 shares during the period. Creative Financial Designs Inc. ADV’s holdings in Schlumberger were worth $444,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the company. ORG Partners LLC lifted its position in Schlumberger by 393.5% during the third quarter. ORG Partners LLC now owns 607 shares of the oil and gas company’s stock valued at $25,000 after purchasing an additional 484 shares during the last quarter. Bruce G. Allen Investments LLC lifted its stake in Schlumberger by 204.2% in the second quarter. Bruce G. Allen Investments LLC now owns 584 shares of the oil and gas company’s stock worth $28,000 after purchasing an additional 392 shares during the last quarter. Unique Wealth Strategies LLC bought a new position in shares of Schlumberger during the second quarter valued at approximately $30,000. Manchester Capital Management LLC boosted its holdings in Schlumberger by 297.9% during the 1st quarter. Manchester Capital Management LLC now owns 569 shares of the oil and gas company’s stock valued at $31,000 after acquiring an additional 426 shares during the period. Finally, Riverview Trust Co lifted its position in shares of Schlumberger by 90.6% during the second quarter. Riverview Trust Co now owns 648 shares of the oil and gas company’s stock worth $31,000 after purchasing an additional 308 shares during the last quarter. 81.99% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Schlumberger news, EVP Abdellah Merad sold 60,000 shares of the business’s stock in a transaction that occurred on 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 directly owns 211,937 shares in the company, valued at $8,880,160.30. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.26% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the stock. Piper Sandler dropped their price objective on shares of Schlumberger from $71.00 to $66.00 and set an “overweight” rating on the stock in a research note on Monday, July 15th. BMO Capital Markets decreased their target price on shares of Schlumberger from $60.00 to $58.00 and set an “outperform” rating for the company in a research note on Thursday, October 10th. Royal Bank of Canada restated an “outperform” rating and issued a $69.00 price objective on shares of Schlumberger in a research report on Thursday, October 3rd. Evercore ISI lowered their price target on Schlumberger from $74.00 to $62.00 and set an “outperform” rating on the stock in a research note on Monday, October 21st. Finally, Stifel Nicolaus reissued a “buy” rating and issued a $60.00 target price (down from $62.00) on shares of Schlumberger in a research note on Monday, October 21st. Two investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $60.97.

View Our Latest Stock Report on SLB

Schlumberger Price Performance

Shares of NYSE SLB opened at $39.76 on Friday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.12 and a current ratio of 1.48. The company’s fifty day moving average is $42.44 and its two-hundred day moving average is $45.15. Schlumberger Limited has a one year low of $38.66 and a one year high of $57.75. The firm has a market capitalization of $56.15 billion, a P/E ratio of 12.78, a PEG ratio of 1.41 and a beta of 1.52.

Schlumberger (NYSE:SLB – Get Free Report) 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 analysts’ consensus estimates of $0.88 by $0.01. The business had revenue of $9.16 billion during the quarter, compared to analysts’ expectations of $9.27 billion. Schlumberger had a return on equity of 21.84% and a net margin of 12.44%. The business’s revenue for the quarter was up 10.2% on a year-over-year basis. During the same quarter last year, the business posted $0.78 earnings per share. Analysts forecast that Schlumberger Limited will post 3.4 EPS for the current fiscal year.

Schlumberger Announces Dividend

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 paid a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a dividend yield of 2.77%. The ex-dividend date of this dividend is Wednesday, December 4th. Schlumberger’s dividend payout ratio is currently 35.37%.

Schlumberger Profile

(Free Report)

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.

See Also

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