Concurrent Investment Advisors LLC Raises Stock Position in Schlumberger Limited (NYSE:SLB)

Concurrent Investment Advisors LLC boosted its position in shares of Schlumberger Limited (NYSE:SLB - Free Report) by 269.1% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 19,718 shares of the oil and gas company's stock after buying an additional 14,376 shares during the period. Concurrent Investment Advisors LLC's holdings in Schlumberger were worth $827,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in SLB. Duality Advisers LP bought a new stake in shares of Schlumberger in the 1st quarter worth about $861,000. Montag A & Associates Inc. increased its position in Schlumberger by 13.1% during the first quarter. Montag A & Associates Inc. now owns 12,364 shares of the oil and gas company's stock valued at $681,000 after acquiring an additional 1,435 shares during the last quarter. Atomi Financial Group Inc. raised its position in Schlumberger by 43.1% in the 1st quarter. Atomi Financial Group Inc. now owns 7,224 shares of the oil and gas company's stock worth $396,000 after purchasing an additional 2,176 shares during the period. NorthRock Partners LLC lifted its stake in shares of Schlumberger by 42.0% during the 1st quarter. NorthRock Partners LLC now owns 20,995 shares of the oil and gas company's stock worth $1,151,000 after acquiring an additional 6,211 shares during the last quarter. Finally, Meeder Advisory Services Inc. boosted its stake in shares of Schlumberger by 1.1% during the first quarter. Meeder Advisory Services Inc. now owns 29,020 shares of the oil and gas company's stock valued at $1,591,000 after purchasing an additional 308 shares during the period. Hedge funds and other institutional investors own 81.99% of the company's stock.

Schlumberger Price Performance

NYSE:SLB traded down $0.06 during trading hours on Friday, reaching $43.18. 13,598,067 shares of the company were exchanged, compared to its average volume of 13,230,377. Schlumberger Limited has a twelve month low of $38.66 and a twelve month high of $55.69. The company has a current ratio of 1.48, a quick ratio of 1.12 and a debt-to-equity ratio of 0.52. The stock's 50-day moving average is $42.21 and its 200-day moving average is $44.87. The firm has a market cap of $60.98 billion, a PE ratio of 13.88, a price-to-earnings-growth ratio of 1.52 and a beta of 1.52.

Schlumberger (NYSE:SLB - Get Free Report) last released its 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 return on equity of 21.84% and a net margin of 12.44%. The business had revenue of $9.16 billion for the quarter, compared to the consensus estimate of $9.27 billion. During the same quarter last year, the business posted $0.78 earnings per share. The business's quarterly revenue was up 10.2% compared to the same quarter last year. On average, sell-side analysts anticipate that Schlumberger Limited will post 3.4 earnings per share for the current fiscal year.

Schlumberger Announces Dividend

The firm also recently announced 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. This represents a $1.10 dividend on an annualized basis and a dividend yield of 2.55%. The ex-dividend date is Wednesday, December 4th. Schlumberger's payout ratio is 35.37%.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. UBS Group lowered their price target on Schlumberger from $63.00 to $57.00 and set a "buy" rating for the company in a report on Wednesday, September 18th. Dbs Bank started coverage on Schlumberger in a research report on Wednesday, September 18th. They set a "buy" rating and a $64.50 price target on the stock. Bank of America cut their price objective on shares of Schlumberger from $58.00 to $54.00 and set a "buy" rating on the stock in a report on Monday, October 14th. TD Cowen lowered their price target on Schlumberger from $68.00 to $65.00 and set a "buy" rating for the company in a research report on Monday, October 21st. Finally, 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 report on Monday, July 15th. Two investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $60.97.

Insider Activity

In related news, EVP Abdellah Merad sold 60,000 shares of the business'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 directly owns 211,937 shares in the company, valued at approximately $8,880,160.30. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.26% of the company's stock.

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.