Contravisory Investment Management Inc. Takes $914,000 Position in Schlumberger Limited (NYSE:SLB)

Contravisory Investment Management Inc. purchased a new stake in shares of Schlumberger Limited (NYSE:SLB - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 21,855 shares of the oil and gas company's stock, valued at approximately $914,000.

Other large investors have also added to or reduced their stakes in the company. Dynamic Technology Lab Private Ltd grew its holdings in shares of Schlumberger by 32.2% in the fourth quarter. Dynamic Technology Lab Private Ltd now owns 71,390 shares of the oil and gas company's stock valued at $2,737,000 after purchasing an additional 17,405 shares in the last quarter. Geode Capital Management LLC lifted its position in Schlumberger by 4.8% during the fourth quarter. Geode Capital Management LLC now owns 29,985,360 shares of the oil and gas company's stock valued at $1,146,195,000 after purchasing an additional 1,377,134 shares during the last quarter. Bryn Mawr Capital Management LLC grew its stake in shares of Schlumberger by 502.6% in the 4th quarter. Bryn Mawr Capital Management LLC now owns 198,024 shares of the oil and gas company's stock worth $7,592,000 after buying an additional 165,162 shares in the last quarter. Miller Financial Services LLC bought a new stake in shares of Schlumberger in the 4th quarter worth about $375,000. Finally, Ilmarinen Mutual Pension Insurance Co increased its holdings in shares of Schlumberger by 40.4% in the 4th quarter. Ilmarinen Mutual Pension Insurance Co now owns 220,685 shares of the oil and gas company's stock worth $8,461,000 after buying an additional 63,500 shares during the last quarter. Institutional investors own 81.99% of the company's stock.

Schlumberger Trading Down 0.5%

SLB traded down $0.17 during trading on Thursday, hitting $33.07. 11,544,133 shares of the stock were exchanged, compared to its average volume of 13,485,283. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.11 and a current ratio of 1.45. The firm has a 50 day simple moving average of $34.78 and a 200 day simple moving average of $38.81. The firm has a market cap of $44.98 billion, a price-to-earnings ratio of 10.63, a P/E/G ratio of 10.10 and a beta of 1.06. 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 EPS for the quarter, missing the consensus estimate of $0.73 by ($0.01). Schlumberger had a net margin of 12.29% and a return on equity of 21.90%. The firm had revenue of $8.49 billion for the quarter, compared to analysts' expectations of $8.64 billion. During the same quarter in the prior year, the business posted $0.75 EPS. The business's quarterly revenue was down 2.5% on a year-over-year basis. As a group, equities analysts expect that Schlumberger Limited will post 3.38 EPS for the current year.

Schlumberger Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 10th. Stockholders of record on Wednesday, June 4th will be given a $0.285 dividend. The ex-dividend date is Wednesday, June 4th. This represents a $1.14 annualized dividend and a dividend yield of 3.45%. Schlumberger's payout ratio is presently 38.64%.

Analyst Upgrades and Downgrades

Several research firms recently commented on SLB. Barclays dropped their price target on Schlumberger from $53.00 to $48.00 and set an "overweight" rating for the company in a research report on Friday, April 25th. Stifel Nicolaus dropped their target price on Schlumberger from $58.00 to $54.00 and set a "buy" rating for the company in a report on Monday, April 28th. Piper Sandler decreased their price target on Schlumberger from $46.00 to $44.00 and set a "neutral" rating on the stock in a report on Tuesday, April 29th. Jefferies Financial Group lowered their price target on Schlumberger from $60.00 to $59.00 and set a "buy" rating for the company in a research report on Thursday, March 27th. Finally, Wells Fargo & Company cut their price objective on shares of Schlumberger from $46.00 to $43.00 and set an "overweight" rating on the stock in a research report on Thursday. Five investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $52.38.

Insider Activity at Schlumberger

In other Schlumberger news, insider Aparna Raman sold 25,133 shares of the firm's stock in a transaction that occurred 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 in the company, valued at $1,311,990.68. This trade represents a 44.75% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director La Chevardiere Patrick De sold 5,000 shares of Schlumberger 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 in the company, valued at $789,969.50. This represents a 17.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.26% of the stock is currently 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.