Cambridge Investment Research Advisors Inc. Purchases 8,060 Shares of Schlumberger Limited (NYSE:SLB)

Cambridge Investment Research Advisors Inc. increased its position in shares of Schlumberger Limited (NYSE:SLB - Free Report) by 6.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 132,533 shares of the oil and gas company's stock after acquiring an additional 8,060 shares during the period. Cambridge Investment Research Advisors Inc.'s holdings in Schlumberger were worth $5,540,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of SLB. True Wealth Design LLC boosted its stake 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 acquiring an additional 842 shares in the last quarter. Mpwm Advisory Solutions LLC purchased a new stake in shares of Schlumberger during the fourth quarter valued at $40,000. Sound Income Strategies LLC lifted its holdings 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 during the last quarter. J.Safra Asset Management Corp acquired a new position in shares of Schlumberger in the 4th quarter valued at $46,000. Finally, Heck Capital Advisors LLC purchased a new position in Schlumberger in the 4th quarter worth about $47,000. 81.99% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have commented on SLB shares. Barclays reduced their price objective on shares of Schlumberger from $53.00 to $48.00 and set an "overweight" rating for the company in a research note on Friday, April 25th. Susquehanna cut their price target on shares of Schlumberger from $46.00 to $44.00 and set a "positive" rating on the stock in a report on Tuesday. Piper Sandler decreased their price objective on shares of Schlumberger from $46.00 to $44.00 and set a "neutral" rating for the company in a research note on Tuesday, April 29th. JPMorgan Chase & Co. lowered their price objective on shares of Schlumberger from $46.00 to $44.00 and set an "overweight" rating on the stock in a research report on Monday. Finally, Morgan Stanley cut 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. Four analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $51.56.

Schlumberger Stock Up 4.1%

Shares of NYSE SLB traded up $1.37 during trading hours on Tuesday, hitting $35.17. The stock had a trading volume of 18,961,662 shares, compared to its average volume of 13,740,651. The firm's 50-day moving average price is $34.46 and its two-hundred day moving average price is $37.73. Schlumberger Limited has a 52 week low of $31.11 and a 52 week high of $50.94. The company has a market capitalization of $47.84 billion, a P/E ratio of 11.92, a P/E/G ratio of 8.85 and a beta of 1.01. 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 posted its earnings results on Friday, April 25th. The oil and gas company reported $0.72 EPS for the quarter, missing the consensus estimate of $0.73 by ($0.01). The business had revenue of $8.49 billion during the quarter, compared to the consensus estimate of $8.64 billion. Schlumberger had a return on equity of 21.76% and a net margin of 11.62%. The business's revenue was down 2.5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.75 earnings per share. Analysts anticipate that Schlumberger Limited will post 3.38 EPS for the current fiscal year.

Schlumberger Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 10th. Shareholders of record on Wednesday, June 4th will be given a dividend of $0.285 per share. This represents a $1.14 annualized dividend and a yield of 3.24%. The ex-dividend date of this dividend is Wednesday, June 4th. Schlumberger's payout ratio is 38.64%.

Insiders Place Their Bets

In other news, Director La Chevardiere Patrick De sold 5,000 shares of the company's 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 represents a 17.53% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.26% of the stock is currently owned by company insiders.

About Schlumberger

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.