Baker Avenue Asset Management LP Acquires 11,484 Shares of Schlumberger Limited (NYSE:SLB)

Key Points

• Baker Avenue Asset Management LP increased its stake in Schlumberger Limited (NYSE:SLB) by 2.3%, acquiring an additional 11,484 shares during the first quarter, bringing its total holdings to 518,573 shares valued at $21,676,000.
• Analyst reports indicate mixed sentiments, with Jefferies lowering their price target from $54.00 to $53.00 while Atb Cap Markets upgraded Schlumberger from a "hold" to a "strong-buy" rating, leading to a consensus rating of "Moderate Buy."
• Schlumberger announced a quarterly dividend of $0.285 per share, with an annualized yield of 3.4%, set to be paid on October 9th to stockholders of record on September 3rd.

Baker Avenue Asset Management LP boosted its holdings in Schlumberger Limited (NYSE:SLB - Free Report) by 2.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 518,573 shares of the oil and gas company's stock after buying an additional 11,484 shares during the period. Baker Avenue Asset Management LP's holdings in Schlumberger were worth $21,676,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of SLB. Dynamic Technology Lab Private Ltd lifted its position in shares of Schlumberger by 32.2% in the 4th quarter. Dynamic Technology Lab Private Ltd now owns 71,390 shares of the oil and gas company's stock worth $2,737,000 after acquiring an additional 17,405 shares during the period. Scharf Investments LLC increased its position in shares of Schlumberger by 20.5% during the first quarter. Scharf Investments LLC now owns 1,653,895 shares of the oil and gas company's stock valued at $69,133,000 after purchasing an additional 281,773 shares during the period. Integrated Advisors Network LLC raised its stake in shares of Schlumberger by 810.4% in the first quarter. Integrated Advisors Network LLC now owns 75,163 shares of the oil and gas company's stock valued at $3,142,000 after purchasing an additional 66,907 shares in the last quarter. Alan B Lancz & Associates Inc. bought a new position in Schlumberger in the first quarter worth $308,000. Finally, Stratos Investment Management LLC boosted its stake in Schlumberger by 236.0% during the first quarter. Stratos Investment Management LLC now owns 146,908 shares of the oil and gas company's stock worth $6,141,000 after buying an additional 103,182 shares in the last quarter. 81.99% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

SLB has been the topic of several analyst reports. Jefferies Financial Group lowered their price target on shares of Schlumberger from $54.00 to $53.00 and set a "buy" rating on the stock in a report on Thursday, June 26th. Morgan Stanley lowered their target price on shares of Schlumberger from $50.00 to $45.00 and set an "overweight" rating on the stock in a research note on Friday, May 16th. Barclays cut their price target on shares of Schlumberger from $47.00 to $46.00 and set an "overweight" rating for the company in a research note on Monday, July 21st. Piper Sandler lowered their price objective on Schlumberger from $44.00 to $42.00 and set a "neutral" rating on the stock in a research note on Friday, July 18th. Finally, Atb Cap Markets upgraded Schlumberger from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, July 1st. Four analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $49.28.

Insider Activity at Schlumberger

In other news, Director La Chevardiere Patrick De sold 5,000 shares of the business's stock in a transaction 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 link. Company insiders own 0.26% of the company's stock.

Schlumberger Stock Down 1.1%

Shares of NYSE SLB opened at $33.80 on Friday. Schlumberger Limited has a 12-month low of $31.11 and a 12-month high of $48.57. The firm's 50-day simple moving average is $34.79 and its 200 day simple moving average is $37.28. The company has a quick ratio of 0.98, a current ratio of 1.31 and a debt-to-equity ratio of 0.51. The company has a market cap of $45.67 billion, a price-to-earnings ratio of 11.58, a price-to-earnings-growth ratio of 9.48 and a beta of 1.01.

Schlumberger (NYSE:SLB - Get Free Report) last released its quarterly earnings results 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 business 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%. Schlumberger's revenue was down 6.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.85 earnings per share. On average, research analysts expect that Schlumberger Limited will post 3.38 earnings per share for the current fiscal year.

Schlumberger Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 9th. Stockholders of record on Wednesday, September 3rd will be paid a $0.285 dividend. This represents a $1.14 annualized dividend and a dividend yield of 3.4%. The ex-dividend date of this dividend is Wednesday, September 3rd. Schlumberger's dividend payout ratio (DPR) is 39.04%.

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.

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