America First Investment Advisors LLC lifted its holdings in shares of Schlumberger Limited (NYSE:SLB) by 5.1% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 308,907 shares of the oil and gas company’s stock after purchasing an additional 14,950 shares during the quarter. Schlumberger comprises about 2.5% of America First Investment Advisors LLC’s holdings, making the stock its 21st biggest holding. America First Investment Advisors LLC’s holdings in Schlumberger were worth $8,399,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also modified their holdings of SLB. Concord Wealth Partners acquired a new stake in Schlumberger in the fourth quarter valued at approximately $26,000. Rosenberg Matthew Hamilton acquired a new stake in Schlumberger in the fourth quarter valued at approximately $27,000. Spirit of America Management Corp NY acquired a new stake in Schlumberger in the first quarter valued at approximately $27,000. Mcmillion Capital Management Inc. acquired a new stake in Schlumberger in the fourth quarter valued at approximately $28,000. Finally, Regent Peak Wealth Advisors LLC acquired a new stake in Schlumberger in the fourth quarter valued at approximately $29,000. 73.19% of the stock is currently owned by institutional investors and hedge funds.
Several brokerages recently weighed in on SLB. Griffin Securities reaffirmed a “buy” rating on shares of Schlumberger in a report on Tuesday, January 26th. Stephens raised shares of Schlumberger from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $27.00 to $35.00 in a report on Monday, April 26th. Bank of America raised shares of Schlumberger from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $27.00 to $31.00 in a report on Monday, January 25th. Piper Sandler raised their target price on shares of Schlumberger from $18.00 to $25.00 and gave the stock a “neutral” rating in a research report on Monday, February 1st. Finally, Argus raised their target price on shares of Schlumberger from $24.00 to $30.00 and gave the stock a “buy” rating in a research report on Tuesday, January 26th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and fourteen have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $27.24.
Schlumberger (NYSE:SLB) last issued its quarterly earnings data on Thursday, April 22nd. The oil and gas company reported $0.21 EPS for the quarter, topping the Zacks’ consensus estimate of $0.19 by $0.02. The firm had revenue of $5.22 billion during the quarter, compared to the consensus estimate of $5.09 billion. Schlumberger had a positive return on equity of 7.34% and a negative net margin of 40.15%. The firm’s revenue was down 29.9% on a year-over-year basis. During the same period in the prior year, the business earned $0.25 EPS. As a group, analysts forecast that Schlumberger Limited will post 0.64 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 8th. Stockholders of record on Wednesday, June 2nd will be paid a $0.125 dividend. The ex-dividend date of this dividend is Tuesday, June 1st. This represents a $0.50 annualized dividend and a dividend yield of 1.77%. Schlumberger’s payout ratio is 34.01%.
In other news, CAO Howard Guild sold 10,000 shares of the stock in a transaction on Friday, February 5th. The stock was sold at an average price of $24.96, for a total value of $249,600.00. Following the completion of the transaction, the chief accounting officer now owns 44,463 shares of the company’s stock, valued at $1,109,796.48. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 0.58% of the company’s stock.
Schlumberger Limited supplies technology for reservoir characterization, drilling, production, and processing to the oil and gas industry worldwide. It operates in four divisions: Digital & Integration, Reservoir Performance, Well Construction, and Production Systems. The company offers reservoir interpretation and data processing services; open and cased-hole, and slickline services; exploration and production pressure and flow-rate measurement services; tubing-conveyed perforating services; integrated production systems; software, consulting, information management, and IT infrastructure services; reservoir characterization, field development planning, and production enhancement consulting services; and petro technical data services and training solutions.
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