Schlumberger Limited (NYSE:SLB) Shares Purchased by Integrated Advisors Network LLC

Integrated Advisors Network LLC grew its holdings in shares of Schlumberger Limited (NYSE:SLB) by 810.4% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 75,163 shares of the oil and gas company’s stock after acquiring an additional 66,907 shares during the period. Integrated Advisors Network LLC’s holdings in Schlumberger were worth $3,142,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Stonebridge Financial Group LLC purchased a new stake in Schlumberger during the 4th quarter worth approximately $32,000. Golden State Wealth Management LLC bought a new stake in shares of Schlumberger in the fourth quarter worth $34,000. True Wealth Design LLC raised its holdings 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 acquiring an additional 842 shares in the last quarter. Bogart Wealth LLC boosted its stake in Schlumberger by 468.9% during the 4th quarter. Bogart Wealth LLC now owns 1,024 shares of the oil and gas company’s stock valued at $39,000 after acquiring an additional 844 shares during the last quarter. Finally, Mpwm Advisory Solutions LLC bought a new position in Schlumberger during the 4th quarter valued at $40,000. 81.99% of the stock is owned by hedge funds and other institutional investors.

Schlumberger Price Performance

Shares of SLB opened at $35.68 on Thursday. The firm has a market capitalization of $48.53 billion, a price-to-earnings ratio of 11.47, a price-to-earnings-growth ratio of 10.10 and a beta of 1.01. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.11 and a current ratio of 1.45. Schlumberger Limited has a one year low of $31.11 and a one year high of $50.94. The stock’s fifty day moving average is $34.22 and its 200-day moving average is $38.49.

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

Schlumberger Dividend Announcement

The company 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 is Wednesday, June 4th. This represents a $1.14 annualized dividend and a yield of 3.19%. Schlumberger’s dividend payout ratio is currently 38.64%.

Insider Activity at Schlumberger

In other 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 sale, 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director La Chevardiere Patrick De sold 5,000 shares of the company’s stock in a transaction on Thursday, May 22nd. The shares were sold at an average price of $33.58, for a total value of $167,900.00. Following the sale, the director now directly owns 23,525 shares of the company’s stock, valued at approximately $789,969.50. This represents a 17.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.26% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on SLB. Piper Sandler cut their target price on shares of Schlumberger from $46.00 to $44.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 29th. Morgan Stanley cut their price objective on Schlumberger from $50.00 to $45.00 and set an “overweight” rating on the stock in a research note on Friday, May 16th. Jefferies Financial Group lowered their price target on Schlumberger from $60.00 to $59.00 and set a “buy” rating for the company in a report on Thursday, March 27th. Susquehanna lowered their price target on Schlumberger from $48.00 to $46.00 and set a “positive” rating for the company in a report on Monday, April 28th. Finally, Wells Fargo & Company lowered their price target on Schlumberger from $46.00 to $43.00 and set an “overweight” rating for the company in a report on Thursday, June 5th. Four investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $52.38.

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.