Riverbend Wealth Management LLC Takes $572,000 Position in Schlumberger Limited (NYSE:SLB)

Riverbend Wealth Management LLC acquired a new stake in shares of Schlumberger Limited (NYSE:SLB - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 13,682 shares of the oil and gas company's stock, valued at approximately $572,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of SLB. TCW Group Inc. raised its stake in shares of Schlumberger by 1.3% during the fourth quarter. TCW Group Inc. now owns 19,797 shares of the oil and gas company's stock valued at $759,000 after acquiring an additional 259 shares during the last quarter. Vident Advisory LLC increased its holdings in Schlumberger by 1.0% in the fourth quarter. Vident Advisory LLC now owns 27,838 shares of the oil and gas company's stock valued at $1,067,000 after purchasing an additional 273 shares during the period. Glen Eagle Advisors LLC raised its position in Schlumberger by 3.7% during the 4th quarter. Glen Eagle Advisors LLC now owns 7,843 shares of the oil and gas company's stock worth $301,000 after purchasing an additional 282 shares during the last quarter. Heritage Wealth Management Inc. Texas raised its position in Schlumberger by 2.2% during the 1st quarter. Heritage Wealth Management Inc. Texas now owns 14,736 shares of the oil and gas company's stock worth $616,000 after purchasing an additional 318 shares during the last quarter. Finally, Wahed Invest LLC lifted its holdings in Schlumberger by 0.9% during the 4th quarter. Wahed Invest LLC now owns 35,022 shares of the oil and gas company's stock worth $1,343,000 after buying an additional 319 shares during the period. Institutional investors own 81.99% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on SLB shares. Barclays reduced their target price on Schlumberger from $53.00 to $48.00 and set an "overweight" rating on the stock in a report on Friday, April 25th. Piper Sandler reduced their price objective on shares of Schlumberger from $46.00 to $44.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 29th. Susquehanna lowered their target price on shares of Schlumberger from $48.00 to $46.00 and set a "positive" rating for the company in a research note on Monday, April 28th. Jefferies Financial Group dropped their target price on shares of Schlumberger from $54.00 to $53.00 and set a "buy" rating on the stock in a report on Thursday. Finally, Stifel Nicolaus cut their price target on shares of Schlumberger from $58.00 to $54.00 and set a "buy" rating on the stock in a research report on Monday, April 28th. Four investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $52.03.

Insiders Place Their Bets

In related news, insider Aparna Raman sold 25,133 shares of Schlumberger 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 sale, the insider now directly owns 31,031 shares in the company, valued at approximately $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 SEC, which can be accessed through this link. Also, Director La Chevardiere Patrick De sold 5,000 shares of the business's stock in a transaction on Thursday, May 22nd. The stock was sold at an average price of $33.58, for a total value of $167,900.00. Following the completion of the transaction, the director now directly owns 23,525 shares in the company, valued at approximately $789,969.50. This represents a 17.53% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.26% of the company's stock.

Schlumberger Stock Up 1.9%

Shares of SLB traded up $0.62 during trading hours on Thursday, reaching $33.80. The stock had a trading volume of 14,207,913 shares, compared to its average volume of 13,673,929. The firm has a 50-day simple moving average of $34.51 and a 200 day simple moving average of $37.94. Schlumberger Limited has a 12 month low of $31.11 and a 12 month high of $50.94. 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 capitalization of $45.98 billion, a price-to-earnings ratio of 11.46, a P/E/G ratio of 8.68 and a beta of 1.01.

Schlumberger (NYSE:SLB - Get Free Report) last released its quarterly earnings data on Friday, April 25th. The oil and gas company reported $0.72 earnings per share for the quarter, missing the consensus estimate of $0.73 by ($0.01). The business had revenue of $8.49 billion for the quarter, compared to analyst estimates of $8.64 billion. Schlumberger had a return on equity of 21.76% and a net margin of 11.62%. The business's quarterly revenue was down 2.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.75 EPS. Equities 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. Shareholders of record on Wednesday, June 4th will be paid a dividend of $0.285 per share. The ex-dividend date of this dividend is Wednesday, June 4th. This represents a $1.14 dividend on an annualized basis and a yield of 3.37%. Schlumberger's dividend payout ratio (DPR) is currently 38.64%.

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.