Cwm LLC Purchases 16,416 Shares of Schlumberger Limited (NYSE:SLB)

CWM LLC boosted its position in shares of Schlumberger Limited (NYSE:SLB - Free Report) by 51.1% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 48,535 shares of the oil and gas company's stock after buying an additional 16,416 shares during the quarter. CWM LLC's holdings in Schlumberger were worth $2,029,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of SLB. Brighton Jones LLC lifted its holdings 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 worth $253,000 after buying an additional 1,166 shares in the last quarter. Proficio Capital Partners LLC acquired a new stake in shares of Schlumberger during the fourth quarter worth $209,000. Harbour Investments Inc. grew its stake in shares of Schlumberger by 24.3% during the fourth quarter. Harbour Investments Inc. now owns 2,904 shares of the oil and gas company's stock worth $111,000 after purchasing an additional 567 shares during the period. Royal London Asset Management Ltd. grew its stake in shares of Schlumberger by 5.3% during the fourth quarter. Royal London Asset Management Ltd. now owns 631,564 shares of the oil and gas company's stock worth $24,214,000 after purchasing an additional 31,971 shares during the period. Finally, iA Global Asset Management Inc. grew its stake in shares of Schlumberger by 45.8% during the fourth quarter. iA Global Asset Management Inc. now owns 67,773 shares of the oil and gas company's stock worth $2,598,000 after purchasing an additional 21,297 shares during the period. Institutional investors and hedge funds own 81.99% of the company's stock.

Insider Activity at Schlumberger

In other news, Director La Chevardiere Patrick De sold 5,000 shares of the firm's stock in a transaction that occurred on Thursday, May 22nd. The shares were sold at an average price of $33.58, for a total transaction of $167,900.00. Following the transaction, the director directly owned 23,525 shares of the company's stock, valued at approximately $789,969.50. This trade represents a 17.53% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.26% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. Piper Sandler decreased their price objective on Schlumberger from $44.00 to $42.00 and set a "neutral" rating for the company in a research note on Friday. Stifel Nicolaus lowered their price objective on shares of Schlumberger from $54.00 to $52.00 and set a "buy" rating for the company in a research report on Wednesday. Wells Fargo & Company cut shares of Schlumberger from a "buy" rating to an "equal weight" rating in a research report on Sunday. Barclays lowered their price objective on shares of Schlumberger from $48.00 to $47.00 and set an "overweight" rating for the company in a research report on Thursday, July 10th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Schlumberger from $46.00 to $44.00 and set an "overweight" rating for the company in a research report on Monday, June 30th. Four research analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, Schlumberger has a consensus rating of "Moderate Buy" and an average price target of $50.56.

Schlumberger Stock Down 3.7%

Shares of NYSE SLB traded down $1.30 during mid-day trading on Friday, hitting $33.37. The company had a trading volume of 35,360,423 shares, compared to its average volume of 14,296,101. The company has a market capitalization of $45.39 billion, a PE ratio of 11.43, a price-to-earnings-growth ratio of 8.96 and a beta of 1.01. The firm has a 50-day simple moving average of $34.86 and a two-hundred day simple moving average of $37.53. The company has a current ratio of 1.24, a quick ratio of 0.93 and a debt-to-equity ratio of 0.51. Schlumberger Limited has a one year low of $31.11 and a one year high of $50.52.

Schlumberger (NYSE:SLB - Get Free Report) last issued its earnings results on Friday, July 18th. The oil and gas company reported $0.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.73 by $0.01. The business had revenue of $8.55 billion during the quarter, compared to the consensus estimate of $8.51 billion. Schlumberger had a net margin of 11.62% and a return on equity of 21.76%. Schlumberger's revenue was down 6.5% on a year-over-year basis. During the same period last year, the business posted $0.85 EPS. On average, equities analysts expect that Schlumberger Limited will post 3.38 EPS for the current year.

Schlumberger Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 9th. Stockholders of record on Wednesday, September 3rd will be issued a dividend of $0.285 per share. This represents a $1.14 annualized dividend and a dividend yield of 3.42%. Schlumberger's dividend payout ratio is presently 38.64%.

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.