InvesTrust Increases Holdings in Schlumberger Limited (NYSE:SLB)

InvesTrust increased its stake in shares of Schlumberger Limited (NYSE:SLB) by 1.9% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 105,738 shares of the oil and gas company’s stock after acquiring an additional 1,953 shares during the quarter. InvesTrust’s holdings in Schlumberger were worth $4,420,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. YANKCOM Partnership purchased a new stake in Schlumberger in the fourth quarter valued at $31,000. Stonebridge Financial Group LLC purchased a new stake in Schlumberger in the fourth quarter valued at $32,000. Golden State Wealth Management LLC purchased a new stake in Schlumberger in the fourth quarter valued at $34,000. Hager Investment Management Services LLC purchased a new stake in Schlumberger in the fourth quarter valued at $38,000. Finally, True Wealth Design LLC raised its position in Schlumberger by 584.7% in the fourth quarter. True Wealth Design LLC now owns 986 shares of the oil and gas company’s stock valued at $38,000 after purchasing an additional 842 shares during the period. Hedge funds and other institutional investors own 81.99% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have commented on SLB. Piper Sandler reduced their target price on Schlumberger from $46.00 to $44.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 29th. Morgan Stanley reduced their target price on Schlumberger from $50.00 to $45.00 and set an “overweight” rating on the stock in a research report on Friday, May 16th. Barclays reduced their target price on Schlumberger from $53.00 to $48.00 and set an “overweight” rating on the stock in a research report on Friday, April 25th. Jefferies Financial Group reduced their target price on Schlumberger from $60.00 to $59.00 and set a “buy” rating on the stock in a research report on Thursday, March 27th. Finally, Stifel Nicolaus dropped their price objective on Schlumberger from $58.00 to $54.00 and set a “buy” rating for the company in a research note on Monday, April 28th. Five analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $52.44.

Schlumberger Trading Up 0.9%

SLB opened at $33.35 on Tuesday. Schlumberger Limited has a 12 month low of $31.11 and a 12 month high of $50.94. The stock has a market capitalization of $45.35 billion, a price-to-earnings ratio of 10.72, a PEG ratio of 10.10 and a beta of 1.06. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.45 and a quick ratio of 1.11. The business has a fifty day moving average price of $35.11 and a 200 day moving average price of $38.88.

Schlumberger (NYSE:SLB) last released its earnings results on Friday, April 25th. The oil and gas company reported $0.72 EPS for the quarter, missing the consensus estimate of $0.73 by ($0.01). Schlumberger had a return on equity of 21.90% and a net margin of 12.29%. The company had revenue of $8.49 billion for the quarter, compared to analyst estimates of $8.64 billion. During the same period in the previous year, the firm earned $0.75 earnings per share. The company’s revenue for the quarter was down 2.5% compared to the same quarter last year. Sell-side analysts expect that Schlumberger Limited will post 3.38 earnings per share for the current fiscal year.

Schlumberger Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 10th. Investors of record on Wednesday, June 4th will be paid a dividend of $0.285 per share. The ex-dividend date of this dividend is Wednesday, June 4th. This represents a $1.14 annualized dividend and a yield of 3.42%. Schlumberger’s payout ratio is 38.64%.

Insider Buying and Selling

In related news, insider Aparna Raman sold 25,133 shares of the business’s stock in a transaction on Friday, March 28th. The stock was sold at an average price of $42.28, for a total transaction of $1,062,623.24. Following the completion of the transaction, the insider now directly owns 31,031 shares of the company’s stock, valued at $1,311,990.68. The trade was a 44.75% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director La Chevardiere Patrick De sold 5,000 shares of the business’s stock in a transaction on Thursday, May 22nd. The stock was sold at an average price of $33.58, for a total value of $167,900.00. Following the transaction, the director now directly owns 23,525 shares of the company’s stock, valued at $789,969.50. The trade was a 17.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.26% of the stock is currently owned by insiders.

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.