Wealthquest Corp Invests $819,000 in Schlumberger Limited (NYSE:SLB)

Key Points

• Wealthquest Corp has acquired a new stake in Schlumberger Limited, purchasing 19,597 shares valued at approximately $819,000 in the first quarter of 2023.
• Analysts have adjusted their price targets for Schlumberger, with Susquehanna lowering theirs from $44.00 to $42.00 while maintaining a "positive" rating.
• Schlumberger announced a quarterly dividend of $0.285 per share, representing a 3.4% dividend yield, to be paid on October 9th to shareholders of record from September 3rd.

Wealthquest Corp purchased a new stake in Schlumberger Limited (NYSE:SLB - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 19,597 shares of the oil and gas company's stock, valued at approximately $819,000.

Several other large investors also recently bought and sold shares of the stock. 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 worth $2,913,312,000 after buying an additional 5,225,828 shares during the period. Deutsche Bank AG grew its stake in shares of Schlumberger by 12.2% in the 4th 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 last quarter. Northern Trust Corp increased its holdings in shares of Schlumberger by 9.4% in the fourth quarter. Northern Trust Corp now owns 13,817,667 shares of the oil and gas company's stock valued at $529,769,000 after purchasing an additional 1,192,399 shares during the period. Sanders Capital LLC raised its stake in shares of Schlumberger by 1.9% during the fourth quarter. Sanders Capital LLC now owns 10,697,985 shares of the oil and gas company's stock worth $410,161,000 after purchasing an additional 203,766 shares during the last quarter. Finally, Invesco Ltd. lifted its holdings in shares of Schlumberger by 8.8% during the fourth quarter. Invesco Ltd. now owns 7,377,240 shares of the oil and gas company's stock worth $282,843,000 after purchasing an additional 596,008 shares during the period. Institutional investors and hedge funds own 81.99% of the company's stock.

Schlumberger Price Performance

Schlumberger stock traded down $0.76 during mid-day trading on Friday, hitting $33.04. 17,069,976 shares of the company were exchanged, compared to its average volume of 18,264,012. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.31 and a quick ratio of 0.98. Schlumberger Limited has a 12-month low of $31.11 and a 12-month high of $46.16. The business's 50 day simple moving average is $34.78 and its two-hundred day simple moving average is $37.21. The company has a market capitalization of $44.65 billion, a P/E ratio of 11.32, a PEG ratio of 9.17 and a beta of 1.03.

Schlumberger (NYSE:SLB - Get Free Report) last released its quarterly earnings results on Friday, July 18th. The oil and gas company reported $0.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.73 by $0.01. The company had revenue of $8.55 billion for the quarter, compared to analysts' expectations of $8.51 billion. Schlumberger had a net margin of 11.53% and a return on equity of 20.99%. The firm's revenue for the quarter was down 6.5% compared to the same quarter last year. During the same period last year, the company earned $0.85 EPS. Analysts forecast that Schlumberger Limited will post 3.38 earnings per share for the current fiscal year.

Schlumberger Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 9th. Stockholders of record on Wednesday, September 3rd will be issued a dividend of $0.285 per share. The ex-dividend date is Wednesday, September 3rd. This represents a $1.14 annualized dividend and a dividend yield of 3.5%. Schlumberger's dividend payout ratio (DPR) is 39.04%.

Insider Activity

In related news, Director La Chevardiere Patrick De sold 5,000 shares of the company'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 directly owned 23,525 shares in the company, valued at approximately $789,969.50. This represents a 17.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.26% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

SLB has been the subject of several recent analyst reports. JPMorgan Chase & Co. reduced their target price on shares of Schlumberger from $46.00 to $44.00 and set an "overweight" rating for the company in a research note on Monday, June 30th. Wells Fargo & Company lowered Schlumberger from a "strong-buy" rating to a "hold" rating in a report on Sunday, July 20th. UBS Group increased their target price on Schlumberger from $44.00 to $45.00 and gave the stock a "buy" rating in a research note on Wednesday, July 2nd. Morgan Stanley decreased their price target on Schlumberger from $50.00 to $45.00 and set an "overweight" rating on the stock in a research note on Friday, May 16th. Finally, Barclays lowered their price target on shares of Schlumberger from $47.00 to $46.00 and set an "overweight" rating on the stock in a research note on Monday, July 21st. Four research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $49.28.

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.