DAVENPORT & Co LLC Has $83.69 Million Holdings in Schlumberger Limited (NYSE:SLB)

DAVENPORT & Co LLC increased its holdings in shares of Schlumberger Limited (NYSE:SLB - Free Report) by 7.3% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,001,115 shares of the oil and gas company's stock after purchasing an additional 136,752 shares during the quarter. DAVENPORT & Co LLC owned 0.15% of Schlumberger worth $83,688,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of the stock. Dynamic Technology Lab Private Ltd raised its holdings in shares of Schlumberger by 32.2% during the fourth quarter. Dynamic Technology Lab Private Ltd now owns 71,390 shares of the oil and gas company's stock worth $2,737,000 after acquiring an additional 17,405 shares during the period. Geode Capital Management LLC increased its holdings in Schlumberger by 4.8% during the 4th quarter. Geode Capital Management LLC now owns 29,985,360 shares of the oil and gas company's stock worth $1,146,195,000 after purchasing an additional 1,377,134 shares in the last quarter. Scharf Investments LLC increased its holdings in Schlumberger by 20.5% during the 1st quarter. Scharf Investments LLC now owns 1,653,895 shares of the oil and gas company's stock worth $69,133,000 after purchasing an additional 281,773 shares in the last quarter. Integrated Advisors Network LLC lifted its holdings in shares of Schlumberger by 810.4% in the first quarter. Integrated Advisors Network LLC now owns 75,163 shares of the oil and gas company's stock valued at $3,142,000 after purchasing an additional 66,907 shares in the last quarter. Finally, Miller Financial Services LLC bought a new stake in shares of Schlumberger in the fourth quarter valued at about $375,000. 81.99% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on SLB. Jefferies Financial Group dropped their target price on Schlumberger from $54.00 to $53.00 and set a "buy" rating on the stock in a research report on Thursday, June 26th. Wells Fargo & Company decreased their price target on shares of Schlumberger from $46.00 to $43.00 and set an "overweight" rating for the company in a research note on Thursday, June 5th. JPMorgan Chase & Co. lowered their price objective on shares of Schlumberger from $46.00 to $44.00 and set an "overweight" rating on the stock in a report on Monday. Barclays reduced their target price on shares of Schlumberger from $53.00 to $48.00 and set an "overweight" rating for the company in a report on Friday, April 25th. Finally, Piper Sandler lowered their price target on shares of Schlumberger from $46.00 to $44.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 29th. Four research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Schlumberger currently has an average rating of "Moderate Buy" and a consensus target price of $50.85.

Schlumberger Stock Performance

Shares of SLB stock traded up $0.65 on Wednesday, reaching $35.85. The stock had a trading volume of 16,147,751 shares, compared to its average volume of 13,750,241. Schlumberger Limited has a 12 month low of $31.11 and a 12 month high of $50.94. The firm has a market capitalization of $48.76 billion, a price-to-earnings ratio of 12.15, a P/E/G ratio of 8.85 and a beta of 1.01. The firm's 50-day moving average is $34.46 and its two-hundred day moving average is $37.73. The company has a quick ratio of 0.93, a current ratio of 1.24 and a debt-to-equity ratio of 0.51.

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

Schlumberger Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 10th. Investors of record on Wednesday, June 4th will be issued a dividend of $0.285 per share. This represents a $1.14 dividend on an annualized basis and a dividend yield of 3.18%. The ex-dividend date is Wednesday, June 4th. Schlumberger's payout ratio is presently 38.64%.

Insiders Place Their Bets

In other news, Director La Chevardiere Patrick De sold 5,000 shares of the firm's stock in a transaction dated Thursday, May 22nd. The shares were sold at an average price of $33.58, for a total transaction of $167,900.00. Following the completion of the sale, the director owned 23,525 shares in the company, valued at approximately $789,969.50. This trade represents a 17.53% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 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.