38,839 Shares in Schlumberger Limited (NYSE:SLB) Bought by Hedeker Wealth LLC

Key Points

• Hedeker Wealth LLC acquired 38,839 shares of Schlumberger Limited, valued at approximately $1.623 million, as reported in their latest 13F filing with the SEC.
• Schlumberger announced a quarterly dividend of $0.285 per share, with an annualized yield of 3.21%, to be paid on October 9th to shareholders of record on September 3rd.
• The company's latest earnings report showed earnings per share of $0.74, exceeding analysts' estimates of $0.73, despite a 6.5% revenue decline from the previous year.

Hedeker Wealth LLC bought a new stake in Schlumberger Limited (NYSE:SLB - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 38,839 shares of the oil and gas company's stock, valued at approximately $1,623,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of SLB. Brighton Jones LLC boosted its stake in shares of Schlumberger by 21.4% during the fourth quarter. Brighton Jones LLC now owns 6,611 shares of the oil and gas company's stock valued at $253,000 after purchasing an additional 1,166 shares in the last quarter. Proficio Capital Partners LLC acquired a new stake in shares of Schlumberger during the fourth quarter valued at about $209,000. Sei Investments Co. boosted its stake in shares of Schlumberger by 16.5% during the fourth quarter. Sei Investments Co. now owns 590,424 shares of the oil and gas company's stock valued at $22,639,000 after purchasing an additional 83,658 shares in the last quarter. LPL Financial LLC boosted its stake in shares of Schlumberger by 3.3% during the fourth quarter. LPL Financial LLC now owns 790,906 shares of the oil and gas company's stock valued at $30,323,000 after purchasing an additional 25,547 shares in the last quarter. Finally, EntryPoint Capital LLC acquired a new stake in shares of Schlumberger during the fourth quarter valued at about $270,000. Institutional investors own 81.99% of the company's stock.

Insider Activity at Schlumberger

In other news, Director La Chevardiere Patrick De sold 5,000 shares of the business's stock in a transaction that occurred on Thursday, May 22nd. The stock was sold at an average price of $33.58, for a total transaction of $167,900.00. Following the completion of the sale, the director owned 23,525 shares in the company, valued at $789,969.50. The trade was a 17.53% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.26% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on SLB shares. Piper Sandler cut their price target on Schlumberger from $44.00 to $42.00 and set a "neutral" rating on the stock in a research note on Friday, July 18th. UBS Group lifted their price objective on Schlumberger from $44.00 to $45.00 and gave the stock a "buy" rating in a research note on Wednesday, July 2nd. Atb Cap Markets raised Schlumberger from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, July 1st. Wells Fargo & Company lowered Schlumberger from a "buy" rating to an "equal weight" rating in a research note on Sunday, July 20th. Finally, Susquehanna cut their price objective on Schlumberger from $44.00 to $42.00 and set a "positive" rating on the stock in a research note on Monday, July 21st. Four investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $49.28.

Schlumberger Stock Up 0.7%

Shares of NYSE SLB traded up $0.24 during midday trading on Friday, hitting $35.48. 11,459,659 shares of the stock traded hands, compared to its average volume of 18,384,440. The company has a market cap of $48.26 billion, a PE ratio of 12.15, a P/E/G ratio of 9.70 and a beta of 1.01. Schlumberger Limited has a one year low of $31.11 and a one year high of $49.31. The business has a 50 day moving average price of $34.75 and a two-hundred day moving average price of $37.40. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.98 and a current ratio of 1.31.

Schlumberger (NYSE:SLB - Get Free Report) last released its quarterly earnings data on Friday, July 18th. The oil and gas company reported $0.74 EPS for the quarter, beating the consensus estimate of $0.73 by $0.01. The firm had revenue of $8.55 billion during the quarter, compared to the consensus estimate of $8.51 billion. Schlumberger had a return on equity of 20.99% and a net margin of 11.53%. The company's quarterly revenue was down 6.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.85 earnings per share. On average, equities analysts predict that Schlumberger Limited will post 3.38 EPS for the current year.

Schlumberger Announces Dividend

The company 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 of this dividend is Wednesday, September 3rd. This represents a $1.14 annualized dividend and a dividend yield of 3.21%. Schlumberger's dividend payout ratio is 39.04%.

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.