Advisor Resource Council Makes New Investment in Schlumberger Limited (NYSE:SLB)

Advisor Resource Council bought a new position in Schlumberger Limited (NYSE:SLB) in the 1st quarter, HoldingsChannel.com reports. The fund bought 14,009 shares of the oil and gas company’s stock, valued at approximately $586,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Price T Rowe Associates Inc. MD boosted its stake 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 valued at $2,913,312,000 after purchasing an additional 5,225,828 shares during the period. Geode Capital Management LLC boosted its stake in shares of Schlumberger by 4.8% during the fourth quarter. Geode Capital Management LLC now owns 29,985,360 shares of the oil and gas company’s stock valued at $1,146,195,000 after purchasing an additional 1,377,134 shares during the period. Deutsche Bank AG boosted its stake 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 valued at $1,101,804,000 after purchasing an additional 3,119,543 shares during the period. First Eagle Investment Management LLC boosted its stake in shares of Schlumberger by 1.2% during the fourth quarter. First Eagle Investment Management LLC now owns 27,836,555 shares of the oil and gas company’s stock valued at $1,067,254,000 after purchasing an additional 343,261 shares during the period. Finally, Norges Bank purchased a new stake in shares of Schlumberger during the fourth quarter valued at approximately $735,398,000. Hedge funds and other institutional investors own 81.99% of the company’s stock.

Insider Activity

In other news, insider Aparna Raman sold 25,133 shares of the firm’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 completion of the transaction, 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director La Chevardiere Patrick De sold 5,000 shares of the firm’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 transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.26% of the company’s stock.

Schlumberger Price Performance

SLB opened at $35.82 on Monday. The stock has a fifty day simple moving average of $34.54 and a two-hundred day simple moving average of $38.06. The company has a current ratio of 1.24, a quick ratio of 0.93 and a debt-to-equity ratio of 0.51. The company has a market cap of $48.71 billion, a price-to-earnings ratio of 12.14, a price-to-earnings-growth ratio of 9.29 and a beta of 1.02. Schlumberger Limited has a 12-month low of $31.11 and a 12-month high of $50.94.

Schlumberger (NYSE:SLB) last posted its quarterly earnings data on Friday, April 25th. The oil and gas company reported $0.72 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.01). Schlumberger had a return on equity of 21.76% and a net margin of 11.62%. The firm had revenue of $8.49 billion during the quarter, compared to the consensus estimate of $8.64 billion. During the same quarter last year, the company posted $0.75 EPS. Schlumberger’s revenue for the quarter was down 2.5% compared to the same quarter last year. Research analysts predict that Schlumberger Limited will post 3.38 earnings per share for the current fiscal year.

Schlumberger Dividend Announcement

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

Analysts Set New Price Targets

SLB has been the subject of a number of analyst reports. Piper Sandler dropped their price objective on Schlumberger from $46.00 to $44.00 and set a “neutral” rating for the company in a research note on Tuesday, April 29th. Susquehanna dropped their price objective on Schlumberger from $48.00 to $46.00 and set a “positive” rating for the company in a research note on Monday, April 28th. Morgan Stanley decreased their target price on Schlumberger from $50.00 to $45.00 and set an “overweight” rating for the company in a report on Friday, May 16th. Wells Fargo & Company decreased their target price on Schlumberger from $46.00 to $43.00 and set an “overweight” rating for the company in a report on Thursday, June 5th. Finally, Barclays decreased their target price on Schlumberger from $53.00 to $48.00 and set an “overweight” rating for the company in a report on Friday, April 25th. Four analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Schlumberger has an average rating of “Moderate Buy” and an average 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.