Tectonic Advisors LLC Grows Holdings in Schlumberger Limited $SLB

Tectonic Advisors LLC raised its position in shares of Schlumberger Limited (NYSE:SLB) by 71.0% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 21,007 shares of the oil and gas company’s stock after purchasing an additional 8,721 shares during the quarter. Tectonic Advisors LLC’s holdings in Schlumberger were worth $710,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in SLB. Brighton Jones LLC lifted its holdings in Schlumberger by 21.4% during the fourth quarter. Brighton Jones LLC now owns 6,611 shares of the oil and gas company’s stock valued at $253,000 after purchasing an additional 1,166 shares in the last quarter. Bison Wealth LLC purchased a new position in Schlumberger during the fourth quarter valued at approximately $238,000. Park Avenue Securities LLC lifted its holdings in Schlumberger by 5.8% during the first quarter. Park Avenue Securities LLC now owns 28,795 shares of the oil and gas company’s stock valued at $1,204,000 after purchasing an additional 1,575 shares in the last quarter. Farther Finance Advisors LLC lifted its holdings in Schlumberger by 9.2% during the first quarter. Farther Finance Advisors LLC now owns 19,066 shares of the oil and gas company’s stock valued at $805,000 after purchasing an additional 1,607 shares in the last quarter. Finally, GAMMA Investing LLC raised its stake in Schlumberger by 45.5% during the 1st quarter. GAMMA Investing LLC now owns 21,671 shares of the oil and gas company’s stock valued at $906,000 after purchasing an additional 6,778 shares during the period. Hedge funds and other institutional investors own 81.99% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Stifel Nicolaus decreased their target price on Schlumberger from $54.00 to $52.00 and set a “buy” rating on the stock in a research note on Wednesday, July 16th. Piper Sandler decreased their target price on Schlumberger from $44.00 to $42.00 and set a “neutral” rating on the stock in a research note on Friday, July 18th. Wells Fargo & Company downgraded Schlumberger from a “strong-buy” rating to a “hold” rating in a research note on Sunday, July 20th. Weiss Ratings reissued a “hold (c-)” rating on shares of Schlumberger in a research note on Wednesday. Finally, Atb Cap Markets raised Schlumberger from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, July 1st. Two research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and six have given a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $52.18.

Schlumberger Stock Performance

NYSE SLB opened at $33.11 on Friday. The stock has a market capitalization of $49.45 billion, a PE ratio of 11.34, a P/E/G ratio of 9.44 and a beta of 0.97. The business has a 50 day simple moving average of $34.56 and a two-hundred day simple moving average of $34.99. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.31 and a quick ratio of 0.98. Schlumberger Limited has a 1-year low of $31.11 and a 1-year high of $45.12.

Schlumberger (NYSE:SLB) last released its quarterly earnings results on Friday, July 18th. The oil and gas company reported $0.74 earnings per share for the quarter, beating the consensus estimate of $0.73 by $0.01. The business had revenue of $8.55 billion during the quarter, compared to analysts’ expectations of $8.51 billion. Schlumberger had a return on equity of 20.99% and a net margin of 11.53%.The firm’s revenue for the quarter was down 6.5% compared to the same quarter last year. During the same quarter last year, the business posted $0.85 EPS. On average, research analysts predict that Schlumberger Limited will post 3.38 EPS for the current fiscal year.

Schlumberger Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, October 9th. Shareholders of record on Wednesday, September 3rd were issued a dividend of $0.285 per share. This represents a $1.14 annualized dividend and a yield of 3.4%. The ex-dividend date was Wednesday, September 3rd. Schlumberger’s dividend payout ratio (DPR) is currently 39.04%.

Insider Activity at Schlumberger

In other news, insider Dianne B. Ralston sold 39,727 shares of Schlumberger stock in a transaction that occurred on Friday, September 12th. The stock was sold at an average price of $36.08, for a total value of $1,433,350.16. Following the completion of the transaction, the insider owned 202,201 shares in the company, valued at approximately $7,295,412.08. The trade was a 16.42% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.22% of the company’s stock.

About Schlumberger

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.