Schlumberger Limited (NYSE:SLB) Shares Bought by Stablepoint Partners LLC

Stablepoint Partners LLC lifted its stake in shares of Schlumberger Limited (NYSE:SLB) by 26.5% during the 1st quarter, HoldingsChannel reports. The firm owned 32,830 shares of the oil and gas company’s stock after purchasing an additional 6,870 shares during the quarter. Stablepoint Partners LLC’s holdings in Schlumberger were worth $1,372,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Dynamic Technology Lab Private Ltd raised its stake in Schlumberger by 32.2% during the fourth quarter. Dynamic Technology Lab Private Ltd now owns 71,390 shares of the oil and gas company’s stock worth $2,737,000 after purchasing an additional 17,405 shares during the period. Geode Capital Management LLC increased its holdings in shares of Schlumberger by 4.8% during the 4th quarter. Geode Capital Management LLC now owns 29,985,360 shares of the oil and gas company’s stock worth $1,146,195,000 after buying an additional 1,377,134 shares during the last quarter. Bryn Mawr Capital Management LLC raised its position in shares of Schlumberger by 502.6% during the 4th quarter. Bryn Mawr Capital Management LLC now owns 198,024 shares of the oil and gas company’s stock valued at $7,592,000 after buying an additional 165,162 shares during the period. Miller Financial Services LLC purchased a new stake in shares of Schlumberger during the 4th quarter valued at approximately $375,000. Finally, Ilmarinen Mutual Pension Insurance Co lifted its holdings in Schlumberger by 40.4% in the fourth quarter. Ilmarinen Mutual Pension Insurance Co now owns 220,685 shares of the oil and gas company’s stock valued at $8,461,000 after acquiring an additional 63,500 shares during the last quarter. 81.99% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

SLB has been the subject of several analyst reports. Jefferies Financial Group cut their target price on Schlumberger from $60.00 to $59.00 and set a “buy” rating for the company in a research note on Thursday, March 27th. Stifel Nicolaus lowered their price target on Schlumberger from $58.00 to $54.00 and set a “buy” rating for the company in a report on Monday, April 28th. Wells Fargo & Company cut their price objective on Schlumberger from $46.00 to $43.00 and set an “overweight” rating for the company in a research report on Thursday. Piper Sandler reduced their price objective on shares of Schlumberger from $46.00 to $44.00 and set a “neutral” rating on the stock in a report on Tuesday, April 29th. Finally, Morgan Stanley lowered their target price on shares of Schlumberger from $50.00 to $45.00 and set an “overweight” rating for the company in a research note on Friday, May 16th. Four investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $52.38.

Schlumberger Price Performance

Shares of SLB opened at $33.87 on Friday. The company has a market cap of $46.07 billion, a P/E ratio of 10.89, a PEG ratio of 10.10 and a beta of 1.06. Schlumberger Limited has a fifty-two week low of $31.11 and a fifty-two week high of $50.94. The company has a quick ratio of 1.11, a current ratio of 1.45 and a debt-to-equity ratio of 0.49. The firm’s 50 day moving average price is $34.44 and its 200 day moving average price is $38.67.

Schlumberger (NYSE:SLB) last posted its quarterly earnings data on Friday, April 25th. The oil and gas company reported $0.72 earnings per share for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.01). The company had revenue of $8.49 billion for the quarter, compared to analysts’ expectations of $8.64 billion. Schlumberger had a return on equity of 21.90% and a net margin of 12.29%. The firm’s revenue was down 2.5% compared to the same quarter last year. During the same period in the prior year, the company posted $0.75 EPS. On average, research analysts forecast that Schlumberger Limited will post 3.38 earnings per share for the current fiscal year.

Schlumberger Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 10th. Shareholders of record on Wednesday, June 4th will be issued 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 3.37%. Schlumberger’s dividend payout ratio (DPR) is 38.64%.

Insider Buying and Selling at Schlumberger

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

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.