Chevy Chase Trust Holdings LLC Buys 86,093 Shares of Schlumberger Limited (NYSE:SLB)

Chevy Chase Trust Holdings LLC raised its holdings in shares of Schlumberger Limited (NYSE:SLB - Free Report) by 3.7% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,426,021 shares of the oil and gas company's stock after purchasing an additional 86,093 shares during the period. Chevy Chase Trust Holdings LLC owned 0.18% of Schlumberger worth $101,408,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the business. True Wealth Design LLC raised 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 position in Schlumberger in the 4th quarter worth $40,000. Sound Income Strategies LLC lifted its position in shares of Schlumberger by 265.4% in the 1st quarter. Sound Income Strategies LLC now owns 961 shares of the oil and gas company's stock worth $40,000 after purchasing an additional 698 shares during the period. J.Safra Asset Management Corp bought a new stake in shares of Schlumberger during the 4th quarter valued at about $46,000. Finally, Heck Capital Advisors LLC bought a new stake in shares of Schlumberger during the 4th quarter valued at about $47,000. Hedge funds and other institutional investors own 81.99% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on SLB shares. Stifel Nicolaus cut their price objective on Schlumberger from $58.00 to $54.00 and set a "buy" rating on the stock in a research report on Monday, April 28th. Jefferies Financial Group dropped their price target on Schlumberger from $60.00 to $59.00 and set a "buy" rating on the stock in a research report on Thursday, March 27th. Barclays decreased their price objective on Schlumberger from $53.00 to $48.00 and set an "overweight" rating for the company in a report on Friday, April 25th. Piper Sandler lowered their price objective on Schlumberger from $46.00 to $44.00 and set a "neutral" rating for the company in a research report on Tuesday, April 29th. Finally, Morgan Stanley reduced their target price on shares of Schlumberger from $50.00 to $45.00 and set an "overweight" rating on the stock in a research report on Friday, May 16th. Four research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Schlumberger currently has an average rating of "Moderate Buy" and a consensus price target of $52.38.

Schlumberger Stock Performance

Shares of SLB traded down $0.23 during mid-day trading on Tuesday, hitting $33.50. 22,954,047 shares of the company traded hands, compared to its average volume of 13,696,069. The stock has a market cap of $45.57 billion, a price-to-earnings ratio of 11.36, a P/E/G ratio of 9.29 and a beta of 1.02. The stock has a 50-day moving average price of $34.54 and a two-hundred day moving average price of $38.00. Schlumberger Limited has a 1 year low of $31.11 and a 1 year high of $50.94. 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 released its quarterly earnings results on Friday, April 25th. The oil and gas company reported $0.72 earnings per share for the quarter, missing the consensus estimate 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 the consensus estimate of $8.64 billion. During the same period in the previous year, the company earned $0.75 earnings per share. Schlumberger's quarterly revenue was down 2.5% compared to the same quarter last year. Equities analysts anticipate that Schlumberger Limited will post 3.38 earnings per share for the current year.

Schlumberger Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 10th. Shareholders of record on Wednesday, June 4th will be paid a dividend of $0.285 per share. 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 3.40%. Schlumberger's dividend payout ratio is currently 38.64%.

Insider Transactions at Schlumberger

In other news, insider Aparna Raman sold 25,133 shares of the stock in a transaction on Friday, March 28th. The shares were sold at an average price of $42.28, for a total value of $1,062,623.24. Following the completion of the sale, the insider now directly owns 31,031 shares of the company's stock, valued at $1,311,990.68. This represents a 44.75% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director La Chevardiere Patrick De sold 5,000 shares of the company's stock in a transaction on 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 transaction, the director now directly owns 23,525 shares of the company's stock, valued at $789,969.50. This represents a 17.53% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.26% of the company's stock.

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.