Teamwork Financial Advisors LLC Grows Holdings in Schlumberger Limited (NYSE:SLB)

by · The Cerbat Gem

Teamwork Financial Advisors LLC grew its holdings in shares of Schlumberger Limited (NYSE:SLB – Free Report) by 38.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 8,840 shares of the oil and gas company’s stock after buying an additional 2,459 shares during the quarter. Teamwork Financial Advisors LLC’s holdings in Schlumberger were worth $515,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in SLB. Acadian Asset Management LLC bought a new position in Schlumberger during the first quarter worth $25,000. Cetera Investment Advisers lifted its stake in Schlumberger by 35.3% during the first quarter. Cetera Investment Advisers now owns 39,287 shares of the oil and gas company’s stock worth $1,623,000 after purchasing an additional 10,240 shares during the last quarter. Dakota Wealth Management acquired a new stake in Schlumberger in the first quarter worth $232,000. Sequoia Financial Advisors LLC acquired a new stake in Schlumberger in the first quarter worth $419,000. Finally, Baird Financial Group Inc. increased its position in Schlumberger by 2.9% in the first quarter. Baird Financial Group Inc. now owns 112,003 shares of the oil and gas company’s stock worth $4,627,000 after buying an additional 3,209 shares during the period. 79.43% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director La Chevardiere Patrick De sold 500 shares of the firm’s stock in a transaction dated Tuesday, October 24th. The stock was sold at an average price of $57.76, for a total transaction of $28,880.00. Following the completion of the sale, the director now directly owns 28,810 shares of the company’s stock, valued at approximately $1,664,065.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director La Chevardiere Patrick De sold 500 shares of the firm’s stock in a transaction dated Tuesday, October 24th. The stock was sold at an average price of $57.76, for a total transaction of $28,880.00. Following the completion of the sale, the director now directly owns 28,810 shares of the company’s stock, valued at approximately $1,664,065.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Stephane Biguet sold 6,250 shares of the firm’s stock in a transaction dated Monday, October 30th. The stock was sold at an average price of $56.32, for a total value of $352,000.00. Following the sale, the chief financial officer now directly owns 176,015 shares of the company’s stock, valued at $9,913,164.80. The disclosure for this sale can be found here. In the last ninety days, insiders sold 25,925 shares of company stock worth $1,398,229. 0.23% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on SLB. Raymond James increased their target price on Schlumberger from $68.00 to $72.00 and gave the stock an “outperform” rating in a research report on Monday, October 23rd. Barclays increased their target price on Schlumberger from $75.00 to $77.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 24th. StockNews.com began coverage on Schlumberger in a research report on Thursday, October 5th. They issued a “hold” rating on the stock. Citigroup increased their target price on Schlumberger from $66.00 to $70.00 and gave the stock a “buy” rating in a research report on Thursday, September 21st. Finally, Societe Generale assumed coverage on Schlumberger in a report on Monday, October 9th. They set a “buy” rating and a $81.00 price target on the stock. One investment analyst has rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, Schlumberger has a consensus rating of “Moderate Buy” and a consensus price target of $70.36.

Get Our Latest Stock Analysis on Schlumberger

Schlumberger Price Performance

NYSE:SLB opened at $49.73 on Tuesday. The company has a quick ratio of 1.02, a current ratio of 1.36 and a debt-to-equity ratio of 0.57. Schlumberger Limited has a 52-week low of $42.73 and a 52-week high of $62.78. The firm has a market cap of $70.79 billion, a P/E ratio of 17.28, a PEG ratio of 0.74 and a beta of 1.65. The business’s 50-day moving average price is $51.77 and its 200 day moving average price is $55.62.

Schlumberger (NYSE:SLB – Get Free Report) last released its quarterly earnings results on Friday, October 20th. The oil and gas company reported $0.78 earnings per share for the quarter, beating analysts’ consensus estimates of $0.77 by $0.01. Schlumberger had a return on equity of 21.80% and a net margin of 12.98%. The business had revenue of $8.31 billion during the quarter, compared to analyst estimates of $8.32 billion. During the same quarter last year, the company posted $0.63 EPS. Schlumberger’s revenue for the quarter was up 11.1% on a year-over-year basis. As a group, sell-side analysts predict that Schlumberger Limited will post 2.96 earnings per share for the current fiscal year.

Schlumberger Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 11th. Shareholders of record on Wednesday, December 6th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Tuesday, December 5th. This represents a $1.00 dividend on an annualized basis and a yield of 2.01%. Schlumberger’s payout ratio is presently 34.60%.

About Schlumberger

(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, integration of adjacent energy systems; reservoir interpretation and data processing services for exploration data; and well construction and production improvement services and products.

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