Alpha Cubed Investments LLC Increases Stock Holdings in Schlumberger Limited (NYSE:SLB)

Alpha Cubed Investments LLC grew its position in shares of Schlumberger Limited (NYSE:SLB - Free Report) by 38.6% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 284,039 shares of the oil and gas company's stock after purchasing an additional 79,034 shares during the quarter. Alpha Cubed Investments LLC's holdings in Schlumberger were worth $11,873,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. Price T Rowe Associates Inc. MD grew its holdings 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 last quarter. Geode Capital Management LLC boosted its holdings in Schlumberger by 4.8% in the 4th quarter. Geode Capital Management LLC now owns 29,985,360 shares of the oil and gas company's stock valued at $1,146,195,000 after purchasing an additional 1,377,134 shares in the last quarter. Deutsche Bank AG boosted its holdings in 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 in the last quarter. First Eagle Investment Management LLC boosted its holdings in Schlumberger by 1.2% in the 4th 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 in the last quarter. Finally, Norges Bank purchased a new stake in Schlumberger in the 4th quarter valued at approximately $735,398,000. Hedge funds and other institutional investors own 81.99% of the company's stock.

Insider Buying and Selling

In other Schlumberger news, Director La Chevardiere Patrick De sold 5,000 shares of the firm's stock in a transaction that occurred on Thursday, May 22nd. The shares were sold at an average price of $33.58, for a total transaction of $167,900.00. Following the completion of the transaction, the director owned 23,525 shares in the company, valued at approximately $789,969.50. This trade represents a 17.53% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.26% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

SLB has been the topic of a number of analyst reports. Susquehanna lowered their price objective on Schlumberger from $46.00 to $44.00 and set a "positive" rating on the stock in a report on Tuesday, July 1st. Jefferies Financial Group decreased their price target on Schlumberger from $54.00 to $53.00 and set a "buy" rating on the stock in a research note on Thursday, June 26th. UBS Group boosted their price target on Schlumberger from $44.00 to $45.00 and gave the stock a "buy" rating in a research note on Wednesday, July 2nd. Barclays decreased their price target on Schlumberger from $53.00 to $48.00 and set an "overweight" rating on the stock in a research note on Friday, April 25th. Finally, Piper Sandler decreased their price target on Schlumberger from $46.00 to $44.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 29th. Three research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, Schlumberger currently has an average rating of "Moderate Buy" and a consensus target price of $50.85.

Schlumberger Stock Up 4.0%

Shares of Schlumberger stock traded up $1.42 during midday trading on Tuesday, reaching $36.37. 4,479,807 shares of the company's stock traded hands, compared to its average volume of 13,747,500. The company has a market cap of $49.46 billion, a price-to-earnings ratio of 12.31, a price-to-earnings-growth ratio of 9.38 and a beta of 1.01. Schlumberger Limited has a 52 week low of $31.11 and a 52 week high of $50.94. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.93 and a current ratio of 1.24. The company's 50 day simple moving average is $34.55 and its 200 day simple moving average is $37.66.

Schlumberger (NYSE:SLB - Get Free Report) last issued its earnings results on Friday, April 25th. The oil and gas company reported $0.72 EPS for the quarter, missing the consensus estimate of $0.73 by ($0.01). Schlumberger had a net margin of 11.62% and a return on equity of 21.76%. The firm had revenue of $8.49 billion during the quarter, compared to analyst estimates of $8.64 billion. During the same quarter in the prior year, the firm posted $0.75 EPS. The firm's revenue for the quarter was down 2.5% on a year-over-year basis. Equities analysts expect that Schlumberger Limited will post 3.38 earnings per share for the current fiscal year.

Schlumberger Announces Dividend

The firm also recently declared 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 3.13%. The ex-dividend date is Wednesday, June 4th. Schlumberger's dividend payout ratio is 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.