Clarius Group LLC Grows Position in Schlumberger Limited (NYSE:SLB)

Clarius Group LLC lifted its holdings in shares of Schlumberger Limited (NYSE:SLB) by 101.8% in the first quarter, HoldingsChannel.com reports. The firm owned 12,732 shares of the oil and gas company’s stock after acquiring an additional 6,424 shares during the quarter. Clarius Group LLC’s holdings in Schlumberger were worth $532,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of SLB. Brighton Jones LLC grew its holdings in shares of Schlumberger by 21.4% during the 4th quarter. Brighton Jones LLC now owns 6,611 shares of the oil and gas company’s stock worth $253,000 after purchasing an additional 1,166 shares during the period. Allworth Financial LP lifted its stake in Schlumberger by 51.3% during the 4th quarter. Allworth Financial LP now owns 7,716 shares of the oil and gas company’s stock worth $321,000 after acquiring an additional 2,615 shares in the last quarter. J.W. Cole Advisors Inc. lifted its stake in Schlumberger by 56.0% during the 4th quarter. J.W. Cole Advisors Inc. now owns 22,317 shares of the oil and gas company’s stock worth $856,000 after acquiring an additional 8,011 shares in the last quarter. Sanctuary Advisors LLC lifted its stake in Schlumberger by 1.7% during the 4th quarter. Sanctuary Advisors LLC now owns 307,613 shares of the oil and gas company’s stock worth $12,618,000 after acquiring an additional 5,090 shares in the last quarter. Finally, CIBC Asset Management Inc lifted its stake in Schlumberger by 3.8% during the 4th quarter. CIBC Asset Management Inc now owns 229,435 shares of the oil and gas company’s stock worth $8,797,000 after acquiring an additional 8,299 shares in the last quarter. 81.99% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on SLB. Piper Sandler decreased their target price on 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 decreased their target price 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 decreased their target price on Schlumberger from $60.00 to $59.00 and set a “buy” rating on the stock in a research note on Thursday, March 27th. Susquehanna decreased their target price on Schlumberger from $48.00 to $46.00 and set a “positive” rating on the stock in a research note on Monday, April 28th. Finally, Wells Fargo & Company decreased their target price on Schlumberger from $46.00 to $43.00 and set an “overweight” rating on the stock in a research note on Thursday, June 5th. Four research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $52.38.

Schlumberger Price Performance

SLB stock opened at $35.85 on Thursday. Schlumberger Limited has a 1 year low of $31.11 and a 1 year high of $50.94. The firm has a market capitalization of $48.76 billion, a P/E ratio of 12.15, a P/E/G ratio of 9.35 and a beta of 1.01. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.24 and a quick ratio of 0.93. The business’s 50-day moving average is $34.43 and its two-hundred day moving average is $38.22.

Schlumberger (NYSE:SLB) last released its quarterly earnings data 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). Schlumberger had a net margin of 11.62% and a return on equity of 21.76%. The business had revenue of $8.49 billion during the quarter, compared to analysts’ expectations of $8.64 billion. During the same quarter in the previous year, the company posted $0.75 EPS. The company’s revenue was down 2.5% compared to the same quarter last year. Analysts anticipate that Schlumberger Limited will post 3.38 earnings per share for the current fiscal year.

Schlumberger Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 10th. Stockholders of record on Wednesday, June 4th will be issued a $0.285 dividend. The ex-dividend date is Wednesday, June 4th. This represents a $1.14 dividend on an annualized basis and a dividend yield of 3.18%. Schlumberger’s payout ratio is currently 38.64%.

Insider Activity

In other news, Director La Chevardiere Patrick De sold 5,000 shares of the stock in a transaction dated 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 owns 23,525 shares in the company, valued at approximately $789,969.50. This represents a 17.53% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Aparna Raman sold 25,133 shares of the firm’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 transaction, the insider now owns 31,031 shares in the company, valued at $1,311,990.68. This represents a 44.75% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.26% of the company’s stock.

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.