Blair William & Co. IL Boosts Stock Position in Schlumberger Limited (NYSE:SLB)

Key Points

• Blair William & Co. IL has significantly increased its stake in Schlumberger Limited, boosting its position by 115.6% to own 104,430 shares worth approximately $4.36 million as of the most recent quarter.
• Several institutional investors have also expanded their holdings, with notable increases including a 300% rise from First Command Advisory Services Inc. and a 265.4% rise from Sound Income Strategies LLC.
• Analysts have varied price targets for Schlumberger, with the average price target at $49.28 and a consensus recommendation of "Moderate Buy".

Blair William & Co. IL increased its position in Schlumberger Limited (NYSE:SLB - Free Report) by 115.6% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 104,430 shares of the oil and gas company's stock after acquiring an additional 55,988 shares during the quarter. Blair William & Co. IL's holdings in Schlumberger were worth $4,365,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. First Command Advisory Services Inc. lifted its holdings in shares of Schlumberger by 300.0% in the first quarter. First Command Advisory Services Inc. now owns 636 shares of the oil and gas company's stock worth $27,000 after buying an additional 477 shares in the last quarter. Alpine Bank Wealth Management purchased a new stake in Schlumberger in the 1st quarter worth $34,000. Park Square Financial Group LLC purchased a new stake in Schlumberger in the 1st quarter worth $38,000. N.E.W. Advisory Services LLC bought a new position in shares of Schlumberger during the 1st quarter valued at about $40,000. Finally, Sound Income Strategies LLC grew its position in shares of Schlumberger by 265.4% during the first quarter. Sound Income Strategies LLC now owns 961 shares of the oil and gas company's stock valued at $40,000 after purchasing an additional 698 shares in the last quarter. Institutional investors own 81.99% of the company's stock.

Analysts Set New Price Targets

SLB has been the subject of a number of research reports. Morgan Stanley dropped their price target on Schlumberger from $50.00 to $45.00 and set an "overweight" rating for the company in a research note on Friday, May 16th. JPMorgan Chase & Co. cut their target price on shares of Schlumberger from $46.00 to $44.00 and set an "overweight" rating for the company in a report on Monday, June 30th. Susquehanna decreased their price target on shares of Schlumberger from $44.00 to $42.00 and set a "positive" rating on the stock in a research note on Monday, July 21st. Atb Cap Markets raised shares of Schlumberger from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, July 1st. Finally, Piper Sandler reduced their target price on shares of Schlumberger from $44.00 to $42.00 and set a "neutral" rating on the stock in a report on Friday, July 18th. Four research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $49.28.

Schlumberger Price Performance

Shares of SLB stock opened at $32.88 on Thursday. The stock has a 50 day moving average price of $34.74 and a 200 day moving average price of $37.05. Schlumberger Limited has a 52-week low of $31.11 and a 52-week high of $46.16. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.98 and a current ratio of 1.31. The firm has a market capitalization of $44.43 billion, a P/E ratio of 11.26, a P/E/G ratio of 9.29 and a beta of 1.03.

Schlumberger (NYSE:SLB - Get Free Report) last released its earnings results on Friday, July 18th. The oil and gas company reported $0.74 earnings per share for the quarter, topping the consensus estimate of $0.73 by $0.01. The business had revenue of $8.55 billion during the quarter, compared to the consensus estimate of $8.51 billion. Schlumberger had a return on equity of 20.99% and a net margin of 11.53%. The business's revenue for the quarter was down 6.5% compared to the same quarter last year. During the same period last year, the company earned $0.85 earnings per share. As a group, sell-side analysts predict that Schlumberger Limited will post 3.38 earnings per share for the current year.

Schlumberger Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 9th. Stockholders of record on Wednesday, September 3rd will be given a dividend of $0.285 per share. The ex-dividend date of this dividend is Wednesday, September 3rd. This represents a $1.14 dividend on an annualized basis and a dividend yield of 3.5%. Schlumberger's dividend payout ratio (DPR) is 39.04%.

Insider Buying and Selling at Schlumberger

In related news, Director La Chevardiere Patrick De sold 5,000 shares of the stock in a transaction that occurred 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 owned 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 available through the SEC website. Corporate insiders own 0.26% of the company's stock.

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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