Brookwood Investment Group LLC Takes Position in Schlumberger Limited (NYSE:SLB)

Brookwood Investment Group LLC purchased a new position in shares of 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 purchased 27,443 shares of the oil and gas company's stock, valued at approximately $1,147,000.

Several other institutional investors have also bought and sold shares of the stock. One Wealth Advisors LLC bought a new stake in Schlumberger during the first quarter worth $303,000. Journey Strategic Wealth LLC bought a new position in Schlumberger in the 1st quarter valued at $328,000. Argonautica Private Wealth Management Inc. grew its stake in Schlumberger by 18.1% in the 1st quarter. Argonautica Private Wealth Management Inc. now owns 7,082 shares of the oil and gas company's stock valued at $296,000 after purchasing an additional 1,085 shares during the period. AE Wealth Management LLC grew its stake in Schlumberger by 33.8% in the 1st quarter. AE Wealth Management LLC now owns 21,796 shares of the oil and gas company's stock valued at $911,000 after purchasing an additional 5,508 shares during the period. Finally, Blume Capital Management Inc. grew its stake in Schlumberger by 2.0% in the 1st quarter. Blume Capital Management Inc. now owns 60,677 shares of the oil and gas company's stock valued at $2,536,000 after purchasing an additional 1,182 shares during the period. Institutional investors own 81.99% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on SLB shares. Susquehanna reduced their price objective on Schlumberger from $44.00 to $42.00 and set a "positive" rating for the company in a research note on Monday, July 21st. UBS Group upped their price objective on Schlumberger from $44.00 to $45.00 and gave the company a "buy" rating in a research note on Wednesday, July 2nd. Atb Cap Markets upgraded Schlumberger from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, July 1st. JPMorgan Chase & Co. reduced their price objective on Schlumberger from $46.00 to $44.00 and set an "overweight" rating for the company in a research note on Monday, June 30th. Finally, Piper Sandler cut their price target on Schlumberger from $44.00 to $42.00 and set a "neutral" rating for the company in a research note on Friday, July 18th. Four analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat, Schlumberger currently has a consensus rating of "Moderate Buy" and an average target price of $49.28.

Insider Activity

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

Schlumberger Price Performance

NYSE SLB traded up $0.24 during trading hours on Friday, hitting $35.48. The company had a trading volume of 11,459,659 shares, compared to its average volume of 18,384,440. Schlumberger Limited has a 52 week low of $31.11 and a 52 week high of $49.31. The firm has a 50 day simple moving average of $34.75 and a 200 day simple moving average of $37.40. 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 $48.26 billion, a price-to-earnings ratio of 12.15, a PEG ratio of 9.70 and a beta of 1.01.

Schlumberger (NYSE:SLB - Get Free Report) last issued its quarterly earnings results on Friday, July 18th. The oil and gas company reported $0.74 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.73 by $0.01. The firm 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 company's revenue for the quarter was down 6.5% on a year-over-year basis. During the same quarter last year, the company posted $0.85 EPS. Equities research analysts expect that Schlumberger Limited will post 3.38 earnings per share for the current year.

Schlumberger Announces Dividend

The firm also recently declared 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 3.21%. Schlumberger's dividend payout ratio (DPR) is presently 39.04%.

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.