Schlumberger Limited (NYSE:SLB) Shares Sold by Edge Wealth Management LLC

Edge Wealth Management LLC decreased its holdings in Schlumberger Limited (NYSE:SLB - Free Report) by 5.3% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 251,631 shares of the oil and gas company's stock after selling 14,051 shares during the period. Schlumberger makes up about 2.0% of Edge Wealth Management LLC's investment portfolio, making the stock its 21st largest position. Edge Wealth Management LLC's holdings in Schlumberger were worth $9,648,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. ORG Partners LLC grew its stake in shares of Schlumberger by 393.5% in the third quarter. ORG Partners LLC now owns 607 shares of the oil and gas company's stock valued at $25,000 after buying an additional 484 shares in the last quarter. Prospera Private Wealth LLC purchased a new position in Schlumberger in the 3rd quarter worth approximately $29,000. Ashton Thomas Securities LLC acquired a new stake in Schlumberger in the third quarter valued at approximately $37,000. DiNuzzo Private Wealth Inc. grew its position in Schlumberger by 1,068.3% in the third quarter. DiNuzzo Private Wealth Inc. now owns 958 shares of the oil and gas company's stock valued at $40,000 after acquiring an additional 876 shares in the last quarter. Finally, J. Stern & Co. LLP purchased a new stake in shares of Schlumberger during the third quarter valued at approximately $47,000. 81.99% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

SLB has been the subject of several analyst reports. BMO Capital Markets decreased their target price on shares of Schlumberger from $53.00 to $48.00 in a research note on Thursday. Piper Sandler initiated coverage on Schlumberger in a research note on Thursday, December 19th. They set a "neutral" rating and a $47.00 target price for the company. Evercore ISI reaffirmed an "in-line" rating and set a $44.00 target price (down from $62.00) on shares of Schlumberger in a research report on Wednesday. Sanford C. Bernstein raised Schlumberger to a "strong-buy" rating in a report on Tuesday, November 12th. Finally, Wells Fargo & Company dropped their price objective on Schlumberger from $49.00 to $46.00 and set an "equal weight" rating on the stock in a report on Tuesday, December 17th. Six research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $56.03.

Schlumberger Stock Performance

NYSE SLB traded up $2.49 during trading hours on Friday, reaching $43.58. The company's stock had a trading volume of 30,717,717 shares, compared to its average volume of 13,909,981. 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 business has a 50-day simple moving average of $40.85 and a 200 day simple moving average of $42.92. Schlumberger Limited has a 52 week low of $36.52 and a 52 week high of $55.69. The stock has a market cap of $61.54 billion, a PE ratio of 14.01, a PEG ratio of 1.35 and a beta of 1.52.

Schlumberger (NYSE:SLB - Get Free Report) last announced its quarterly earnings results on Friday, January 17th. The oil and gas company reported $0.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.90 by $0.02. The company had revenue of $9.28 billion during the quarter, compared to the consensus estimate of $9,241,140 billion. Schlumberger had a net margin of 12.44% and a return on equity of 21.84%. The company's revenue for the quarter was up 3.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.86 earnings per share. Equities research analysts predict that Schlumberger Limited will post 3.39 earnings per share for the current fiscal year.

Schlumberger Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 3rd. Stockholders of record on Wednesday, February 5th will be issued a dividend of $0.285 per share. This represents a $1.14 dividend on an annualized basis and a dividend yield of 2.62%. This is a boost from Schlumberger's previous quarterly dividend of $0.28. Schlumberger's payout ratio is 35.37%.

Insider Transactions at Schlumberger

In related news, EVP Abdellah Merad sold 60,000 shares of Schlumberger 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 sale, the executive vice president now directly owns 211,937 shares in the company, valued at $8,880,160.30. The trade was a 22.06 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 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.