Arkadios Wealth Advisors Has $1.03 Million Stock Holdings in Schlumberger Limited (NYSE:SLB)

Arkadios Wealth Advisors boosted its position in Schlumberger Limited (NYSE:SLB) by 9.4% in the 3rd quarter, HoldingsChannel reports. The firm owned 24,614 shares of the oil and gas company’s stock after acquiring an additional 2,118 shares during the period. Arkadios Wealth Advisors’ holdings in Schlumberger were worth $1,033,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of SLB. Vanguard Group Inc. boosted its stake in shares of Schlumberger by 1.4% during the 1st quarter. Vanguard Group Inc. now owns 134,150,168 shares of the oil and gas company’s stock worth $7,352,771,000 after acquiring an additional 1,868,688 shares during the period. Capital World Investors boosted its position in Schlumberger by 72.3% during the first 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 increased 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 valued at $4,712,897,000 after purchasing an additional 10,606,191 shares during the last quarter. Legal & General Group Plc lifted its stake in shares of Schlumberger by 14.0% during the 2nd quarter. Legal & General Group Plc now owns 12,686,384 shares of the oil and gas company’s stock worth $598,544,000 after buying an additional 1,560,684 shares during the last quarter. Finally, Boston Partners boosted its holdings in shares of Schlumberger by 35.8% during the 1st quarter. Boston Partners now owns 11,640,827 shares of the oil and gas company’s stock worth $635,883,000 after buying an additional 3,069,395 shares during the period. Institutional investors own 81.99% of the company’s stock.

Wall Street Analysts Forecast Growth

SLB has been the subject of several research reports. JPMorgan Chase & Co. cut their price objective on shares of Schlumberger from $64.00 to $60.00 and set an “overweight” rating for the company in a research report on Tuesday, October 1st. TD Cowen dropped their target price on Schlumberger from $68.00 to $65.00 and set a “buy” rating for the company in a report on Monday, October 21st. Citigroup lowered their price target on shares of Schlumberger from $60.00 to $54.00 and set a “buy” rating on the stock in a research report on Tuesday, October 22nd. Benchmark reaffirmed a “buy” rating and set a $68.00 target price on shares of Schlumberger in a report on Monday, July 22nd. Finally, Stifel Nicolaus reissued a “buy” rating and set a $60.00 price target (down previously from $62.00) on shares of Schlumberger in a research report on Monday, October 21st. Two investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to data from MarketBeat.com, Schlumberger presently has an average rating of “Moderate Buy” and a consensus price target of $60.97.

Insider Activity

In related news, EVP Abdellah Merad sold 60,000 shares of Schlumberger stock in a transaction that occurred on 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. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.26% of the stock is currently owned by insiders.

Schlumberger Stock Up 1.2 %

SLB stock opened at $41.74 on Monday. The stock has a market capitalization of $59.66 billion, a P/E ratio of 13.87, a price-to-earnings-growth ratio of 1.48 and a beta of 1.51. 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 firm has a 50-day moving average price of $42.86 and a 200-day moving average price of $45.52. Schlumberger Limited has a 12 month low of $38.66 and a 12 month high of $57.75.

Schlumberger (NYSE:SLB) last issued its quarterly earnings data on Friday, October 18th. The oil and gas company reported $0.89 EPS for the quarter, beating the consensus estimate of $0.88 by $0.01. The business had revenue of $9.16 billion during the quarter, compared to the consensus estimate of $9.27 billion. Schlumberger had a net margin of 12.44% and a return on equity of 21.84%. The firm’s revenue was up 10.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.78 EPS. As a group, equities research analysts anticipate that Schlumberger Limited will post 3.41 EPS for the current fiscal year.

Schlumberger Announces Dividend

The company also recently declared 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. This represents a $1.10 dividend on an annualized basis and a dividend yield of 2.64%. The ex-dividend date is Wednesday, December 4th. Schlumberger’s payout ratio is 36.54%.

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.