Cornerstone Select Advisors LLC Acquires Shares of 12,945 Schlumberger Limited (NYSE:SLB)

Cornerstone Select Advisors LLC acquired a new position in Schlumberger Limited (NYSE:SLB - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 12,945 shares of the oil and gas company's stock, valued at approximately $496,000.

A number of other hedge funds also recently added to or reduced their stakes in the stock. CX Institutional grew its holdings in Schlumberger by 2.4% during the fourth quarter. CX Institutional now owns 10,370 shares of the oil and gas company's stock worth $398,000 after acquiring an additional 244 shares during the period. TCW Group Inc. increased its holdings in shares of Schlumberger by 1.3% in the 4th quarter. TCW Group Inc. now owns 19,797 shares of the oil and gas company's stock valued at $759,000 after purchasing an additional 259 shares during the period. Tokio Marine Asset Management Co. Ltd. grew its stake in shares of Schlumberger by 0.5% in the 4th quarter. Tokio Marine Asset Management Co. Ltd. now owns 56,714 shares of the oil and gas company's stock valued at $2,174,000 after buying an additional 262 shares in the last quarter. Cromwell Holdings LLC grew its stake in shares of Schlumberger by 7.0% in the 4th quarter. Cromwell Holdings LLC now owns 4,350 shares of the oil and gas company's stock valued at $167,000 after buying an additional 283 shares in the last quarter. Finally, Mitchell Mcleod Pugh & Williams Inc. grew its stake in shares of Schlumberger by 2.0% in the 4th quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 14,775 shares of the oil and gas company's stock valued at $566,000 after buying an additional 293 shares in the last quarter. 81.99% of the stock is currently owned by institutional investors.

Schlumberger Stock Performance

Shares of Schlumberger stock traded up $1.20 during trading on Monday, reaching $35.75. The company's stock had a trading volume of 5,102,470 shares, compared to its average volume of 13,397,977. Schlumberger Limited has a 52 week low of $31.11 and a 52 week high of $50.94. The company has a quick ratio of 1.11, a current ratio of 1.45 and a debt-to-equity ratio of 0.49. The business's 50-day moving average price is $37.18 and its 200-day moving average price is $39.73. The firm has a market cap of $48.63 billion, a PE ratio of 11.50, a P/E/G ratio of 10.10 and a beta of 1.06.

Schlumberger (NYSE:SLB - Get Free Report) 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). The business had revenue of $8.49 billion during the quarter, compared to the consensus estimate of $8.64 billion. Schlumberger had a net margin of 12.29% and a return on equity of 21.90%. The business's revenue for the quarter was down 2.5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.75 EPS. Equities analysts forecast that Schlumberger Limited will post 3.38 earnings per share for the current year.

Schlumberger Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 10th. Investors of record on Wednesday, June 4th will be given a dividend of $0.285 per share. This represents a $1.14 dividend on an annualized basis and a yield of 3.19%. The ex-dividend date of this dividend is Wednesday, June 4th. Schlumberger's dividend payout ratio is 38.64%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on SLB shares. TD Cowen boosted their target price on Schlumberger from $53.00 to $55.00 and gave the stock a "buy" rating in a report on Tuesday, January 21st. Barclays cut their price target on Schlumberger from $53.00 to $48.00 and set an "overweight" rating for the company in a report on Friday, April 25th. BMO Capital Markets lowered their price objective on Schlumberger from $53.00 to $48.00 in a research report on Thursday, January 16th. Piper Sandler lowered their price objective on Schlumberger from $46.00 to $44.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 29th. Finally, Stifel Nicolaus decreased their target price on Schlumberger from $58.00 to $54.00 and set a "buy" rating on the stock in a report on Monday, April 28th. Five research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $53.32.

Insider Buying and Selling

In other Schlumberger news, insider Gavin Rennick sold 26,990 shares of the firm's stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $40.92, for a total value of $1,104,430.80. Following the completion of the sale, the insider now directly owns 53,584 shares in the company, valued at approximately $2,192,657.28. This trade represents a 33.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, 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 sale, the insider now 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 disclosure for this sale can be found here. 0.26% of the stock is owned by corporate insiders.

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.