Advisor Resource Council Acquires New Position in Schlumberger Limited (NYSE:SLB)

Advisor Resource Council purchased a new position in shares of Schlumberger Limited (NYSE:SLB - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 14,009 shares of the oil and gas company's stock, valued at approximately $586,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Price T Rowe Associates Inc. MD raised its stake in Schlumberger by 7.4% during the 4th 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 acquiring an additional 5,225,828 shares in the last quarter. Geode Capital Management LLC raised its stake in Schlumberger by 4.8% during the 4th quarter. Geode Capital Management LLC now owns 29,985,360 shares of the oil and gas company's stock worth $1,146,195,000 after acquiring an additional 1,377,134 shares in the last quarter. Deutsche Bank AG raised its stake in Schlumberger by 12.2% during the 4th quarter. Deutsche Bank AG now owns 28,737,703 shares of the oil and gas company's stock worth $1,101,804,000 after acquiring an additional 3,119,543 shares in the last quarter. First Eagle Investment Management LLC increased its stake in Schlumberger by 1.2% in 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 acquired a new position in Schlumberger in the fourth quarter valued at $735,398,000. 81.99% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Schlumberger news, Director La Chevardiere Patrick De sold 5,000 shares of the company's stock in a transaction dated Thursday, May 22nd. The shares were sold at an average price of $33.58, for a total value of $167,900.00. Following the sale, the director now owns 23,525 shares of the company's stock, valued at $789,969.50. This represents a 17.53% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Aparna Raman sold 25,133 shares of the company's stock in a transaction dated Friday, March 28th. The shares were 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 directly owns 31,031 shares in the company, valued at $1,311,990.68. This trade represents a 44.75% decrease in their position. The disclosure for this sale can be found here. 0.26% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research analysts have commented on the stock. Stifel Nicolaus dropped their price objective on shares of Schlumberger from $58.00 to $54.00 and set a "buy" rating on the stock in a research note on Monday, April 28th. Piper Sandler dropped 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. Jefferies Financial Group dropped their price objective on shares of Schlumberger from $60.00 to $59.00 and set a "buy" rating on the stock in a research note on Thursday, March 27th. Wells Fargo & Company dropped their price objective on shares of Schlumberger from $46.00 to $43.00 and set an "overweight" rating on the stock in a research note on Thursday, June 5th. Finally, Susquehanna dropped their price objective on shares of Schlumberger from $48.00 to $46.00 and set a "positive" rating on the stock in a research note on Monday, April 28th. Four equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $52.38.

Schlumberger Price Performance

SLB stock traded down $2.08 during trading on Monday, reaching $33.76. 25,797,781 shares of the company were exchanged, compared to its average volume of 13,652,796. The company has a market cap of $45.92 billion, a P/E ratio of 11.44, a PEG ratio of 9.29 and a beta of 1.02. Schlumberger Limited has a 52-week low of $31.11 and a 52-week high of $50.94. The stock's 50 day moving average price is $34.54 and its 200 day moving average price is $38.00. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.93 and a current ratio of 1.24.

Schlumberger (NYSE:SLB - Get Free Report) last released its quarterly earnings data on Friday, April 25th. The oil and gas company reported $0.72 EPS for the quarter, missing analysts' consensus estimates of $0.73 by ($0.01). The company had revenue of $8.49 billion for the quarter, compared to analysts' expectations of $8.64 billion. Schlumberger had a return on equity of 21.76% and a net margin of 11.62%. The firm's quarterly revenue was down 2.5% on a year-over-year basis. During the same period in the prior year, the firm posted $0.75 EPS. As a group, analysts predict that Schlumberger Limited will post 3.38 earnings per share for the current fiscal 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 issued a dividend of $0.285 per share. This represents a $1.14 dividend on an annualized basis and a yield of 3.38%. The ex-dividend date of this dividend is Wednesday, June 4th. Schlumberger's dividend payout ratio is currently 38.64%.

Schlumberger Company 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.