Barnes Dennig Private Wealth Management LLC Invests $663,000 in Schlumberger Limited (NYSE:SLB)

Barnes Dennig Private Wealth Management LLC acquired a new position in Schlumberger Limited (NYSE:SLB - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 15,872 shares of the oil and gas company's stock, valued at approximately $663,000. Schlumberger makes up 1.0% of Barnes Dennig Private Wealth Management LLC's portfolio, making the stock its 27th biggest holding.

Other large investors have also recently bought and sold shares of the company. Norges Bank purchased a new stake in shares of Schlumberger during the 4th quarter worth approximately $735,398,000. Price T Rowe Associates Inc. MD raised its holdings in 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 purchasing an additional 5,225,828 shares during the last quarter. Lazard Asset Management LLC boosted its position in Schlumberger by 3,112.1% during the fourth quarter. Lazard Asset Management LLC now owns 3,627,051 shares of the oil and gas company's stock worth $139,059,000 after purchasing an additional 3,514,134 shares in the last quarter. Deutsche Bank AG grew its holdings in Schlumberger by 12.2% in the fourth 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 during the last quarter. Finally, Clearbridge Investments LLC grew its holdings in Schlumberger by 43,028.0% in the fourth quarter. Clearbridge Investments LLC now owns 2,652,804 shares of the oil and gas company's stock valued at $101,708,000 after purchasing an additional 2,646,653 shares during the last quarter. Hedge funds and other institutional investors own 81.99% of the company's stock.

Insider Activity

In related news, Director La Chevardiere Patrick De sold 5,000 shares of the stock in a transaction on Thursday, May 22nd. The stock was sold at an average price of $33.58, for a total value of $167,900.00. Following the transaction, the director directly owned 23,525 shares of the company's stock, valued at approximately $789,969.50. This trade represents a 17.53% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.26% of the stock is owned by corporate insiders.

Schlumberger Trading Up 4.1%

Schlumberger stock traded up $1.37 during trading on Tuesday, hitting $35.17. The company's stock had a trading volume of 18,961,662 shares, compared to its average volume of 13,719,619. The stock's fifty day moving average is $34.45 and its 200 day moving average is $37.75. Schlumberger Limited has a 1-year low of $31.11 and a 1-year high of $50.94. The stock has a market capitalization of $47.84 billion, a price-to-earnings ratio of 11.92, a P/E/G ratio of 8.86 and a beta of 1.02. 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 announced its quarterly earnings data on Friday, April 25th. The oil and gas company reported $0.72 earnings per share for the quarter, missing the consensus estimate of $0.73 by ($0.01). Schlumberger had a return on equity of 21.76% and a net margin of 11.62%. The company had revenue of $8.49 billion for the quarter, compared to analysts' expectations of $8.64 billion. During the same quarter in the previous year, the company earned $0.75 earnings per share. The company's revenue was down 2.5% on a year-over-year basis. As a group, equities research analysts predict that Schlumberger Limited will post 3.38 EPS for the current year.

Schlumberger Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 10th. Shareholders of record on Wednesday, June 4th will be issued a $0.285 dividend. The ex-dividend date is Wednesday, June 4th. This represents a $1.14 dividend on an annualized basis and a dividend yield of 3.24%. Schlumberger's dividend payout ratio (DPR) is presently 38.64%.

Analyst Upgrades and Downgrades

Several research firms recently commented on SLB. Morgan Stanley decreased their price objective on shares of Schlumberger from $50.00 to $45.00 and set an "overweight" rating on the stock in a research report on Friday, May 16th. Piper Sandler lowered their price target on shares of Schlumberger from $46.00 to $44.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 29th. JPMorgan Chase & Co. dropped their price objective on shares of Schlumberger from $46.00 to $44.00 and set an "overweight" rating for the company in a research note on Monday. Jefferies Financial Group reduced their target price on Schlumberger from $54.00 to $53.00 and set a "buy" rating on the stock in a research note on Thursday, June 26th. Finally, Stifel Nicolaus lowered their target price on Schlumberger from $58.00 to $54.00 and set a "buy" rating on the stock in a report on Monday, April 28th. Four 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 company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $51.56.

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.