Leo Wealth LLC Grows Holdings in Schlumberger Limited (NYSE:SLB)

Leo Wealth LLC boosted its stake in Schlumberger Limited (NYSE:SLB) by 15.1% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 17,652 shares of the oil and gas company’s stock after acquiring an additional 2,319 shares during the period. Leo Wealth LLC’s holdings in Schlumberger were worth $741,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Crescent Grove Advisors LLC acquired a new stake in shares of Schlumberger during the second quarter worth $257,000. National Bank of Canada FI boosted its holdings in shares of Schlumberger by 15.0% in the first quarter. National Bank of Canada FI now owns 396,382 shares of the oil and gas company’s stock valued at $21,726,000 after acquiring an additional 51,637 shares in the last quarter. Mission Wealth Management LP purchased a new stake in shares of Schlumberger in the first quarter valued at about $245,000. Public Sector Pension Investment Board increased its stake in shares of Schlumberger by 0.6% during the second quarter. Public Sector Pension Investment Board now owns 1,901,713 shares of the oil and gas company’s stock worth $89,723,000 after acquiring an additional 11,813 shares during the period. Finally, Canada Pension Plan Investment Board raised its holdings in Schlumberger by 9.0% during the first quarter. Canada Pension Plan Investment Board now owns 788,484 shares of the oil and gas company’s stock worth $43,217,000 after purchasing an additional 64,974 shares in the last quarter. 81.99% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on SLB. BMO Capital Markets lowered their price objective on Schlumberger from $60.00 to $58.00 and set an “outperform” rating on the stock in a report on Thursday, October 10th. Benchmark reaffirmed a “buy” rating and set a $68.00 price objective on shares of Schlumberger in a report on Monday, July 22nd. Wells Fargo & Company decreased their target price on shares of Schlumberger from $53.00 to $49.00 and set an “equal weight” rating on the stock in a research report on Wednesday, September 25th. Citigroup cut their price target on shares of Schlumberger from $60.00 to $54.00 and set a “buy” rating for the company in a report on Tuesday. Finally, TD Cowen decreased their price objective on shares of Schlumberger from $68.00 to $65.00 and set a “buy” rating on the stock in a report on Monday. Two investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $61.58.

Schlumberger Stock Down 1.2 %

SLB stock opened at $41.94 on Wednesday. The stock has a market capitalization of $59.54 billion, a P/E ratio of 13.48, a PEG ratio of 1.27 and a beta of 1.51. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.13 and a current ratio of 1.49. Schlumberger Limited has a one year low of $38.66 and a one year high of $59.05. The company has a 50 day moving average price of $43.03 and a two-hundred day moving average price of $45.78.

Schlumberger (NYSE:SLB) last announced its quarterly earnings data on Friday, October 18th. The oil and gas company reported $0.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.88 by $0.01. Schlumberger had a net margin of 12.56% and a return on equity of 21.92%. The company had revenue of $9.16 billion during the quarter, compared to analysts’ expectations of $9.27 billion. During the same period in the previous year, the company earned $0.78 EPS. The business’s quarterly revenue was up 10.2% compared to the same quarter last year. As a group, sell-side analysts expect that Schlumberger Limited will post 3.44 EPS for the current year.

Schlumberger Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 9th. Stockholders of record on Wednesday, December 4th will be paid a dividend of $0.275 per share. The ex-dividend date of this dividend is Wednesday, December 4th. This represents a $1.10 annualized dividend and a dividend yield of 2.62%. Schlumberger’s dividend payout ratio is presently 35.37%.

Schlumberger Company 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.