Cambridge Investment Research Advisors Inc. Raises Stock Holdings in Schlumberger Limited (NYSE:SLB)

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

Other hedge funds and other institutional investors have also modified their holdings of the company. Brighton Jones LLC grew its stake in Schlumberger by 21.4% during the 4th quarter. Brighton Jones LLC now owns 6,611 shares of the oil and gas company's stock valued at $253,000 after acquiring an additional 1,166 shares in the last quarter. Pine Valley Investments Ltd Liability Co bought a new stake in shares of Schlumberger in the 4th quarter valued at approximately $226,000. K.J. Harrison & Partners Inc bought a new stake in shares of Schlumberger in the 4th quarter valued at approximately $384,000. Proficio Capital Partners LLC acquired a new stake in Schlumberger in the 4th quarter worth approximately $8,027,000. Finally, Versor Investments LP acquired a new stake in Schlumberger in the 4th quarter worth approximately $859,000. 81.99% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms have recently weighed in on SLB. Morgan Stanley reduced their price objective on Schlumberger from $50.00 to $45.00 and set an "overweight" rating for the company in a research report on Friday, May 16th. Susquehanna decreased their price target on Schlumberger from $48.00 to $46.00 and set a "positive" rating on the stock in a report on Monday, April 28th. Piper Sandler reduced their target price on Schlumberger from $46.00 to $44.00 and set a "neutral" rating on the stock in a report on Tuesday, April 29th. Stifel Nicolaus reduced 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. Finally, 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 report on Thursday. Four equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Schlumberger presently has an average rating of "Moderate Buy" and a consensus price target of $52.03.

Schlumberger Price Performance

SLB traded up $0.18 during midday trading on Friday, hitting $34.01. The stock had a trading volume of 17,164,745 shares, compared to its average volume of 13,702,802. The company has a market cap of $46.26 billion, a P/E ratio of 11.53, a price-to-earnings-growth ratio of 8.82 and a beta of 1.01. The business has a fifty day moving average of $34.46 and a 200 day moving average of $37.84. 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 Limited has a 1 year low of $31.11 and a 1 year high of $50.94.

Schlumberger (NYSE:SLB - Get Free Report) last announced its quarterly earnings results on Friday, April 25th. The oil and gas company reported $0.72 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.73 by ($0.01). The business had revenue of $8.49 billion for the quarter, compared to analysts' expectations of $8.64 billion. Schlumberger had a net margin of 11.62% and a return on equity of 21.76%. The firm's revenue for the quarter was down 2.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.75 EPS. As a group, equities analysts forecast that Schlumberger Limited will post 3.38 earnings per share for the current fiscal year.

Schlumberger Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 10th. Stockholders of record on Wednesday, June 4th will be paid a $0.285 dividend. The ex-dividend date of this dividend is Wednesday, June 4th. This represents a $1.14 dividend on an annualized basis and a dividend yield of 3.35%. Schlumberger's dividend payout ratio is currently 38.64%.

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 transaction, the director now directly owns 23,525 shares of the company's stock, valued at $789,969.50. The trade was a 17.53% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.26% of the company's stock.

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.