Cerity Partners LLC Raises Stake in Schlumberger Limited (NYSE:SLB)

Cerity Partners LLC grew its position in shares of Schlumberger Limited (NYSE:SLB - Free Report) by 31.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 404,282 shares of the oil and gas company's stock after purchasing an additional 95,810 shares during the quarter. Cerity Partners LLC's holdings in Schlumberger were worth $16,899,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in SLB. Alpine Bank Wealth Management bought a new stake in Schlumberger in the first quarter worth approximately $34,000. True Wealth Design LLC increased its holdings in shares of Schlumberger by 584.7% during the fourth quarter. True Wealth Design LLC now owns 986 shares of the oil and gas company's stock valued at $38,000 after acquiring an additional 842 shares in the last quarter. Mpwm Advisory Solutions LLC bought a new stake in shares of Schlumberger during the fourth quarter valued at approximately $40,000. Sound Income Strategies LLC increased 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 acquiring an additional 698 shares in the last quarter. Finally, Smallwood Wealth Investment Management LLC bought a new stake in shares of Schlumberger during the first quarter valued at approximately $44,000. 81.99% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

SLB has been the subject of several recent research reports. Barclays decreased their price target on Schlumberger from $48.00 to $47.00 and set an "overweight" rating for the company in a report on Thursday, July 10th. Wells Fargo & Company decreased their price target on Schlumberger from $46.00 to $43.00 and set an "overweight" rating for the company in a report on Thursday, June 5th. UBS Group upped their price target on Schlumberger from $44.00 to $45.00 and gave the stock a "buy" rating in a report on Wednesday, July 2nd. Piper Sandler decreased their price target on Schlumberger from $46.00 to $44.00 and set a "neutral" rating for the company in a report on Tuesday, April 29th. Finally, Atb Cap Markets upgraded Schlumberger from a "hold" rating to a "strong-buy" rating in a report on Tuesday, July 1st. Three research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $50.68.

Schlumberger Stock Performance

Shares of NYSE SLB traded down $0.06 during trading on Thursday, reaching $34.53. 8,846,891 shares of the stock traded hands, compared to its average volume of 13,944,850. Schlumberger Limited has a 52-week low of $31.11 and a 52-week high of $50.94. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.24 and a quick ratio of 0.93. The company has a 50-day moving average of $34.87 and a 200-day moving average of $37.59. The stock has a market capitalization of $46.97 billion, a P/E ratio of 11.67, a price-to-earnings-growth ratio of 9.38 and a beta of 1.01.

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

Schlumberger Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, July 10th. Stockholders of record on Wednesday, June 4th were given a dividend of $0.285 per share. The ex-dividend date was Wednesday, June 4th. This represents a $1.14 dividend on an annualized basis and a dividend yield of 3.30%. Schlumberger's dividend payout ratio is presently 38.64%.

Insider Transactions at Schlumberger

In related news, Director La Chevardiere Patrick De sold 5,000 shares of the 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 sale, the director owned 23,525 shares of the company's stock, valued at approximately $789,969.50. This represents a 17.53% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company 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.