Schlumberger Limited (NYSE:SLB) Shares Bought by Washington Capital Management Inc.

Washington Capital Management Inc. raised its holdings in Schlumberger Limited (NYSE:SLB) by 35.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 30,385 shares of the oil and gas company’s stock after buying an additional 8,000 shares during the period. Schlumberger comprises about 1.0% of Washington Capital Management Inc.’s holdings, making the stock its 13th largest position. Washington Capital Management Inc.’s holdings in Schlumberger were worth $1,270,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Norges Bank acquired a new stake in shares of Schlumberger during the fourth quarter worth about $735,398,000. Price T Rowe Associates Inc. MD increased its position in shares of Schlumberger by 7.4% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 75,986,195 shares of the oil and gas company’s stock worth $2,913,312,000 after purchasing an additional 5,225,828 shares in the last quarter. Lazard Asset Management LLC increased its position in shares of Schlumberger by 3,112.1% during the fourth quarter. Lazard Asset Management LLC now owns 3,627,051 shares of the oil and gas company’s stock worth $139,059,000 after purchasing an additional 3,514,134 shares in the last quarter. Deutsche Bank AG increased its position in shares of Schlumberger by 12.2% during the fourth quarter. Deutsche Bank AG now owns 28,737,703 shares of the oil and gas company’s stock worth $1,101,804,000 after purchasing an additional 3,119,543 shares in the last quarter. Finally, Clearbridge Investments LLC increased its position in shares of Schlumberger by 43,028.0% during the fourth quarter. Clearbridge Investments LLC now owns 2,652,804 shares of the oil and gas company’s stock worth $101,708,000 after purchasing an additional 2,646,653 shares in the last quarter. 81.99% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

SLB has been the topic of a number of research analyst reports. Morgan Stanley cut 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 cut 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. Susquehanna cut their target price on Schlumberger from $48.00 to $46.00 and set a “positive” rating on the stock in a research report on Monday, April 28th. Piper Sandler lowered their price target on Schlumberger from $46.00 to $44.00 and set a “neutral” rating on the stock in a report on Tuesday, April 29th. Finally, Wells Fargo & Company lowered their price target on Schlumberger from $46.00 to $43.00 and set an “overweight” rating on the stock in a report on Thursday. 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. Based on data from MarketBeat.com, Schlumberger presently 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. Schlumberger Limited has a twelve month low of $31.11 and a twelve month high of $50.94. The stock’s 50 day moving average is $34.44 and its two-hundred day moving average is $38.64. The firm has a market capitalization of $46.07 billion, a PE ratio of 10.89, a P/E/G ratio of 10.10 and a beta of 1.01. The company has a current ratio of 1.45, a quick ratio of 1.11 and a debt-to-equity ratio of 0.49.

Schlumberger (NYSE:SLB) last announced 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). Schlumberger had a net margin of 12.29% and a return on equity of 21.90%. The business had revenue of $8.49 billion during the quarter, compared to analysts’ expectations of $8.64 billion. During the same period in the prior year, the firm posted $0.75 EPS. Schlumberger’s revenue for the quarter was down 2.5% compared to the same quarter last year. Research analysts anticipate that Schlumberger Limited will post 3.38 earnings per share for the current year.

Schlumberger Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 10th. Shareholders of record on Wednesday, June 4th will be issued a $0.285 dividend. This represents a $1.14 dividend on an annualized basis and a yield of 3.37%. The ex-dividend date is Wednesday, June 4th. Schlumberger’s dividend payout ratio is presently 38.64%.

Insider Buying and Selling at Schlumberger

In other 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 stock was sold at an average price of $33.58, for a total transaction of $167,900.00. Following the sale, the director now owns 23,525 shares of the company’s stock, valued at $789,969.50. The trade was a 17.53% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Aparna Raman sold 25,133 shares of the business’s stock in a transaction that occurred on Friday, March 28th. The stock was sold at an average price of $42.28, for a total value of $1,062,623.24. Following the sale, the insider now directly owns 31,031 shares in the company, valued at $1,311,990.68. This trade represents a 44.75% decrease in their position. 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.