Douglas Lane & Associates LLC Purchases 101,478 Shares of Schlumberger Limited (NYSE:SLB)

Douglas Lane & Associates LLC increased its position in shares of Schlumberger Limited (NYSE:SLB - Free Report) by 7.4% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,463,972 shares of the oil and gas company's stock after acquiring an additional 101,478 shares during the quarter. Douglas Lane & Associates LLC owned approximately 0.11% of Schlumberger worth $61,194,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently made changes to their positions in the stock. Dynamic Technology Lab Private Ltd increased its holdings in 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 buying an additional 17,405 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of 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 acquiring an additional 1,377,134 shares during the period. Bryn Mawr Capital Management LLC grew its position in Schlumberger by 502.6% during the fourth quarter. Bryn Mawr Capital Management LLC now owns 198,024 shares of the oil and gas company's stock valued at $7,592,000 after purchasing an additional 165,162 shares in the last quarter. Miller Financial Services LLC bought a new position in shares of Schlumberger in the 4th quarter valued at approximately $375,000. Finally, Ilmarinen Mutual Pension Insurance Co boosted its holdings in shares of Schlumberger by 40.4% during 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 period. Institutional investors and hedge funds own 81.99% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on SLB. Susquehanna dropped their price objective on shares of Schlumberger from $48.00 to $46.00 and set a "positive" rating for the company in a research note on Monday, April 28th. 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. Morgan Stanley lowered their target price on shares of Schlumberger from $50.00 to $45.00 and set an "overweight" rating on the stock in a report on Friday, May 16th. Piper Sandler cut their price objective on shares of Schlumberger from $46.00 to $44.00 and set a "neutral" rating for the company in a research report on Tuesday, April 29th. Finally, Stifel Nicolaus lowered their price objective on Schlumberger from $58.00 to $54.00 and set a "buy" rating for the company in a research note on Monday, April 28th. Five equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $52.44.

Schlumberger Stock Up 2.3%

NYSE:SLB traded up $0.76 during trading hours on Tuesday, hitting $34.10. The company's stock had a trading volume of 16,171,749 shares, compared to its average volume of 13,501,674. The stock has a fifty day moving average of $35.11 and a 200-day moving average of $38.88. The stock has a market capitalization of $46.38 billion, a P/E ratio of 10.96, a price-to-earnings-growth ratio of 10.10 and a beta of 1.06. Schlumberger Limited has a 52-week low of $31.11 and a 52-week high of $50.94. The company has a current ratio of 1.45, a quick ratio of 1.11 and a debt-to-equity ratio of 0.49.

Schlumberger (NYSE:SLB - Get Free Report) last posted 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). Schlumberger had a net margin of 12.29% and a return on equity of 21.90%. The business had revenue of $8.49 billion during the quarter, compared to analysts' expectations of $8.64 billion. During the same quarter last year, the firm earned $0.75 earnings per share. The firm's quarterly revenue was down 2.5% compared to the same quarter last year. On average, equities analysts forecast that Schlumberger Limited will post 3.38 earnings per share for the current year.

Schlumberger Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 10th. Stockholders 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 annualized dividend and a dividend yield of 3.34%. Schlumberger's dividend payout ratio is presently 38.64%.

Insider Activity

In related news, Director La Chevardiere Patrick De sold 5,000 shares of the business'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 now owns 23,525 shares of the company's stock, valued at $789,969.50. This represents a 17.53% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Aparna Raman sold 25,133 shares of the company'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 transaction of $1,062,623.24. Following the completion of the sale, the insider now owns 31,031 shares of the company's stock, valued at approximately $1,311,990.68. This trade represents a 44.75% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.26% of the company's stock.

Schlumberger 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.