Clifford Swan Investment Counsel LLC Boosts Holdings in Schlumberger Limited (NYSE:SLB)

Clifford Swan Investment Counsel LLC boosted its holdings in shares of Schlumberger Limited (NYSE:SLB - Free Report) by 16.7% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 531,616 shares of the oil and gas company's stock after purchasing an additional 75,952 shares during the period. Clifford Swan Investment Counsel LLC's holdings in Schlumberger were worth $22,222,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Norges Bank acquired a new stake in shares of Schlumberger in the 4th quarter worth $735,398,000. Price T Rowe Associates Inc. MD lifted its stake in shares of Schlumberger by 7.4% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 75,986,195 shares of the oil and gas company's stock worth $2,913,312,000 after acquiring an additional 5,225,828 shares during the period. Lazard Asset Management LLC lifted its stake in shares of Schlumberger by 3,112.1% in the 4th quarter. Lazard Asset Management LLC now owns 3,627,051 shares of the oil and gas company's stock worth $139,059,000 after acquiring an additional 3,514,134 shares during the period. Deutsche Bank AG lifted its stake in shares of Schlumberger by 12.2% in the fourth quarter. Deutsche Bank AG now owns 28,737,703 shares of the oil and gas company's stock valued at $1,101,804,000 after purchasing an additional 3,119,543 shares during the period. Finally, Clearbridge Investments LLC lifted its stake in shares of Schlumberger by 43,028.0% in the fourth quarter. Clearbridge Investments LLC now owns 2,652,804 shares of the oil and gas company's stock valued at $101,708,000 after purchasing an additional 2,646,653 shares during the period. 81.99% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

SLB has been the subject of several recent analyst reports. JPMorgan Chase & Co. reduced their price objective on shares of Schlumberger from $46.00 to $44.00 and set an "overweight" rating for the company in a research note on Monday, June 30th. Piper Sandler dropped their target price on shares of Schlumberger from $44.00 to $42.00 and set a "neutral" rating for the company in a report on Friday. Morgan Stanley dropped their target price on shares of Schlumberger from $50.00 to $45.00 and set an "overweight" rating for the company in a report on Friday, May 16th. Stifel Nicolaus dropped their target price on shares of Schlumberger from $54.00 to $52.00 and set a "buy" rating for the company in a report on Wednesday, July 16th. Finally, Barclays dropped their target price on shares of Schlumberger from $48.00 to $47.00 and set an "overweight" rating for the company in a report on Thursday, July 10th. Four research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $50.56.

Schlumberger Trading Up 2.3%

Schlumberger stock traded up $0.77 during trading on Monday, reaching $34.09. The company had a trading volume of 2,525,645 shares, compared to its average volume of 14,257,527. The firm has a market capitalization of $46.37 billion, a price-to-earnings ratio of 11.70, a PEG ratio of 8.98 and a beta of 1.01. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.98 and a current ratio of 1.31. Schlumberger Limited has a 12-month low of $31.11 and a 12-month high of $50.52. The stock's 50 day moving average price is $34.86 and its two-hundred day moving average price is $37.52.

Schlumberger (NYSE:SLB - Get Free Report) last announced its quarterly earnings results on Friday, July 18th. The oil and gas company reported $0.74 earnings per share for the quarter, beating analysts' consensus estimates of $0.73 by $0.01. The firm had revenue of $8.55 billion for the quarter, compared to analysts' expectations of $8.51 billion. Schlumberger had a net margin of 11.53% and a return on equity of 20.99%. Schlumberger's revenue was down 6.5% compared to the same quarter last year. During the same period in the previous year, the company posted $0.85 earnings per share. As a group, equities analysts expect that Schlumberger Limited will post 3.38 earnings per share for the current fiscal year.

Schlumberger Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 9th. Investors of record on Wednesday, September 3rd will be issued a $0.285 dividend. This represents a $1.14 annualized dividend and a yield of 3.34%. 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 company's stock in a transaction on Thursday, May 22nd. The shares were sold at an average price of $33.58, for a total value of $167,900.00. Following the sale, the director directly owned 23,525 shares of the company's stock, valued at $789,969.50. This represents a 17.53% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.26% of the stock is owned by corporate insiders.

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.

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