Schlumberger Limited $SLB Shares Bought by Compound Planning Inc.

Compound Planning Inc. grew its stake in shares of Schlumberger Limited (NYSE:SLB) by 15.8% in the first quarter, HoldingsChannel reports. The fund owned 12,534 shares of the oil and gas company’s stock after buying an additional 1,711 shares during the quarter. Compound Planning Inc.’s holdings in Schlumberger were worth $524,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. First Command Advisory Services Inc. grew its holdings in shares of Schlumberger by 300.0% during the 1st quarter. First Command Advisory Services Inc. now owns 636 shares of the oil and gas company’s stock worth $27,000 after purchasing an additional 477 shares during the period. Atlas Capital Advisors Inc. purchased a new stake in shares of Schlumberger during the 1st quarter worth about $33,000. Alpine Bank Wealth Management purchased a new stake in shares of Schlumberger during the 1st quarter worth about $34,000. Park Square Financial Group LLC purchased a new stake in shares of Schlumberger during the 1st quarter worth about $38,000. Finally, N.E.W. Advisory Services LLC purchased a new stake in shares of Schlumberger during the 1st quarter worth about $40,000. Hedge funds and other institutional investors own 81.99% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on SLB shares. Barclays decreased their target price on Schlumberger from $47.00 to $46.00 and set an “overweight” rating for the company in a report on Monday, July 21st. UBS Group decreased their target price on Schlumberger from $45.00 to $44.00 and set a “buy” rating for the company in a report on Wednesday, August 20th. Piper Sandler decreased their target price on Schlumberger from $44.00 to $42.00 and set a “neutral” rating for the company in a report on Friday, July 18th. Melius Research initiated coverage on Schlumberger in a report on Wednesday, August 20th. They issued a “buy” rating and a $82.00 price target for the company. Finally, Morgan Stanley decreased their price target on Schlumberger from $50.00 to $45.00 and set an “overweight” rating for the company in a report on Friday, May 16th. Two research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $52.86.

Schlumberger Stock Up 0.2%

NYSE SLB opened at $35.67 on Tuesday. The stock has a market cap of $48.20 billion, a PE ratio of 12.22, a P/E/G ratio of 9.88 and a beta of 1.03. Schlumberger Limited has a fifty-two week low of $31.11 and a fifty-two week high of $46.16. The business has a 50 day moving average price of $34.51 and a two-hundred day moving average price of $36.27. The company has a quick ratio of 0.98, a current ratio of 1.31 and a debt-to-equity ratio of 0.51.

Schlumberger (NYSE:SLB) last released its earnings results on Friday, July 18th. The oil and gas company reported $0.74 EPS for the quarter, beating the consensus estimate of $0.73 by $0.01. The company had revenue of $8.55 billion during the quarter, compared to analysts’ expectations of $8.51 billion. Schlumberger had a return on equity of 20.99% and a net margin of 11.53%.The business’s revenue was down 6.5% on a year-over-year basis. During the same period in the prior year, the business posted $0.85 EPS. As a group, sell-side analysts predict that Schlumberger Limited will post 3.38 EPS for the current fiscal year.

Schlumberger Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 9th. Stockholders of record on Wednesday, September 3rd will be paid a dividend of $0.285 per share. This represents a $1.14 annualized dividend and a dividend yield of 3.2%. The ex-dividend date is Wednesday, September 3rd. Schlumberger’s dividend payout ratio is 39.04%.

About Schlumberger

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.