Axxcess Wealth Management LLC Decreases Stock Position in Schlumberger Limited (NYSE:SLB)

Axxcess Wealth Management LLC lessened its holdings in Schlumberger Limited (NYSE:SLB - Free Report) by 35.3% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 19,497 shares of the oil and gas company's stock after selling 10,650 shares during the quarter. Axxcess Wealth Management LLC's holdings in Schlumberger were worth $815,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. Alpine Bank Wealth Management bought a new position in Schlumberger in the 1st quarter valued at $34,000. Sound Income Strategies LLC grew its position in Schlumberger by 265.4% in the 1st quarter. Sound Income Strategies LLC now owns 961 shares of the oil and gas company's stock valued at $40,000 after acquiring an additional 698 shares during the last quarter. True Wealth Design LLC grew its position in shares of Schlumberger by 584.7% during the 4th quarter. True Wealth Design LLC now owns 986 shares of the oil and gas company's stock worth $38,000 after buying an additional 842 shares in the last quarter. Mpwm Advisory Solutions LLC bought a new position in shares of Schlumberger during the 4th quarter worth $40,000. Finally, Smallwood Wealth Investment Management LLC bought a new position in shares of Schlumberger during the 1st quarter worth $44,000. Institutional investors own 81.99% of the company's stock.

Schlumberger Stock Up 1.9%

Shares of NYSE SLB traded up $0.70 during mid-day trading on Friday, reaching $37.35. 11,333,547 shares of the company were exchanged, compared to its average volume of 13,866,867. The company has a quick ratio of 0.93, a current ratio of 1.24 and a debt-to-equity ratio of 0.51. The stock has a market cap of $50.80 billion, a price-to-earnings ratio of 12.66, a P/E/G ratio of 9.69 and a beta of 1.01. Schlumberger Limited has a 1 year low of $31.11 and a 1 year high of $50.94. The firm has a 50-day moving average of $34.77 and a 200 day moving average of $37.64.

Schlumberger (NYSE:SLB - Get Free Report) last released its quarterly earnings results 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). Schlumberger had a net margin of 11.62% and a return on equity of 21.76%. The business had revenue of $8.49 billion during the quarter, compared to analysts' expectations of $8.64 billion. During the same quarter last year, the business posted $0.75 earnings per share. The company's quarterly revenue was down 2.5% compared to the same quarter last year. On average, research analysts expect that Schlumberger Limited will post 3.38 earnings per share for the current year.

Schlumberger Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 10th. Shareholders of record on Wednesday, June 4th were paid a $0.285 dividend. This represents a $1.14 dividend on an annualized basis and a yield of 3.05%. The ex-dividend date was Wednesday, June 4th. Schlumberger's dividend payout ratio (DPR) is presently 38.64%.

Insider Buying and Selling

In other Schlumberger news, Director La Chevardiere Patrick De sold 5,000 shares of the stock in a transaction dated 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 sale, the director directly owned 23,525 shares in the company, valued at approximately $789,969.50. This trade represents a 17.53% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.26% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on SLB shares. Morgan Stanley dropped their price target on Schlumberger from $50.00 to $45.00 and set an "overweight" rating on the stock in a research report on Friday, May 16th. Susquehanna dropped their price target on Schlumberger from $46.00 to $44.00 and set a "positive" rating on the stock in a research report on Tuesday, July 1st. Piper Sandler dropped their price target on Schlumberger from $46.00 to $44.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 29th. UBS Group increased their price target on Schlumberger from $44.00 to $45.00 and gave the stock a "buy" rating in a research report on Wednesday, July 2nd. Finally, Jefferies Financial Group dropped their price target on Schlumberger from $54.00 to $53.00 and set a "buy" rating on the stock in a research report on Thursday, June 26th. Three research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, Schlumberger has an average rating of "Moderate Buy" and a consensus target price of $50.79.

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.