Janney Montgomery Scott LLC Grows Holdings in Schlumberger Limited (NYSE:SLB)

Janney Montgomery Scott LLC lifted its position in Schlumberger Limited (NYSE:SLB - Free Report) by 24.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 261,421 shares of the oil and gas company's stock after buying an additional 52,134 shares during the period. Janney Montgomery Scott LLC's holdings in Schlumberger were worth $10,967,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in SLB. Vanguard Group Inc. lifted its position in Schlumberger by 1.4% during the first quarter. Vanguard Group Inc. now owns 134,150,168 shares of the oil and gas company's stock valued at $7,352,771,000 after purchasing an additional 1,868,688 shares during the period. Capital World Investors lifted its stake in shares of Schlumberger by 72.3% in the 1st quarter. Capital World Investors now owns 88,950,956 shares of the oil and gas company's stock worth $4,875,402,000 after purchasing an additional 37,333,485 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in shares of Schlumberger by 14.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 85,986,039 shares of the oil and gas company's stock worth $4,712,897,000 after buying an additional 10,606,191 shares during the last quarter. Legal & General Group Plc grew its position in Schlumberger by 14.0% during the second quarter. Legal & General Group Plc now owns 12,686,384 shares of the oil and gas company's stock valued at $598,544,000 after buying an additional 1,560,684 shares during the period. Finally, Boston Partners increased its holdings in Schlumberger by 35.8% during the first quarter. Boston Partners now owns 11,640,827 shares of the oil and gas company's stock valued at $635,883,000 after buying an additional 3,069,395 shares during the last quarter. Hedge funds and other institutional investors own 81.99% of the company's stock.

Wall Street Analyst Weigh In

SLB has been the subject of a number of recent research reports. Royal Bank of Canada reissued an "outperform" rating and set a $69.00 price objective on shares of Schlumberger in a research report on Thursday, October 3rd. Dbs Bank assumed coverage on Schlumberger in a research note on Wednesday, September 18th. They set a "buy" rating and a $64.50 price objective for the company. Bank of America decreased their price objective on shares of Schlumberger from $58.00 to $54.00 and set a "buy" rating on the stock in a research report on Monday, October 14th. UBS Group cut their price target on Schlumberger from $63.00 to $57.00 and set a "buy" rating for the company in a research note on Wednesday, September 18th. Finally, Piper Sandler lowered their price objective on Schlumberger from $71.00 to $66.00 and set an "overweight" rating on the stock in a research report on Monday, July 15th. Two research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $60.97.

Insiders Place Their Bets

In other news, EVP Abdellah Merad sold 60,000 shares of the stock in a transaction on Thursday, October 24th. The shares were sold at an average price of $41.90, for a total value of $2,514,000.00. Following the sale, the executive vice president now owns 211,937 shares of the company's stock, valued at approximately $8,880,160.30. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.26% of the stock is owned by insiders.

Schlumberger Price Performance

Shares of NYSE:SLB traded down $0.53 on Thursday, reaching $43.24. The company's stock had a trading volume of 15,423,732 shares, compared to its average volume of 11,270,041. The company has a 50-day simple moving average of $42.25 and a 200 day simple moving average of $44.96. 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 has a market cap of $61.06 billion, a P/E ratio of 13.90, a PEG ratio of 1.42 and a beta of 1.52. Schlumberger Limited has a 52-week low of $38.66 and a 52-week high of $55.69.

Schlumberger (NYSE:SLB - Get Free Report) last issued its quarterly earnings data on Friday, October 18th. The oil and gas company reported $0.89 earnings per share for the quarter, topping the consensus estimate of $0.88 by $0.01. The company had revenue of $9.16 billion for 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 firm's revenue for the quarter was up 10.2% on a year-over-year basis. During the same period in the previous year, the firm posted $0.78 earnings per share. As a group, equities research analysts anticipate that Schlumberger Limited will post 3.4 EPS for the current fiscal year.

Schlumberger Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 9th. Investors of record on Wednesday, December 4th will be given a $0.275 dividend. The ex-dividend date of this dividend is Wednesday, December 4th. This represents a $1.10 dividend on an annualized basis and a yield of 2.54%. Schlumberger's dividend payout ratio is presently 35.37%.

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.