Dynasty Wealth Management LLC Acquires 21,760 Shares of Schlumberger Limited (NYSE:SLB)

Dynasty Wealth Management LLC increased its position in Schlumberger Limited (NYSE:SLB - Free Report) by 121.6% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 39,658 shares of the oil and gas company's stock after purchasing an additional 21,760 shares during the quarter. Dynasty Wealth Management LLC's holdings in Schlumberger were worth $1,658,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of SLB. Cullen Frost Bankers Inc. grew its stake in Schlumberger by 2.9% in the 1st quarter. Cullen Frost Bankers Inc. now owns 19,623 shares of the oil and gas company's stock valued at $820,000 after buying an additional 552 shares during the last quarter. Parcion Private Wealth LLC grew its stake in Schlumberger by 3.9% in the 1st quarter. Parcion Private Wealth LLC now owns 18,231 shares of the oil and gas company's stock valued at $762,000 after buying an additional 691 shares during the last quarter. Segall Bryant & Hamill LLC grew its stake in Schlumberger by 4.6% in the 1st quarter. Segall Bryant & Hamill LLC now owns 345,605 shares of the oil and gas company's stock valued at $14,446,000 after buying an additional 15,123 shares during the last quarter. Victory Capital Management Inc. grew its stake in Schlumberger by 79.0% in the 1st quarter. Victory Capital Management Inc. now owns 2,389,748 shares of the oil and gas company's stock valued at $99,891,000 after buying an additional 1,054,498 shares during the last quarter. Finally, Sage Mountain Advisors LLC grew its stake in Schlumberger by 33.4% in the 1st quarter. Sage Mountain Advisors LLC now owns 11,473 shares of the oil and gas company's stock valued at $480,000 after buying an additional 2,873 shares during the last quarter. 81.99% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on SLB shares. Morgan Stanley decreased their price target on shares of Schlumberger from $50.00 to $45.00 and set an "overweight" rating on the stock in a research note on Friday, May 16th. Susquehanna decreased their target price on shares of Schlumberger from $46.00 to $44.00 and set a "positive" rating on the stock in a research report on Tuesday, July 1st. Stifel Nicolaus decreased their target price on shares of Schlumberger from $54.00 to $52.00 and set a "buy" rating on the stock in a research report on Wednesday. UBS Group increased their target price on shares of Schlumberger from $44.00 to $45.00 and gave the stock a "buy" rating in a research report on Wednesday, July 2nd. Finally, Piper Sandler decreased their target price on shares of Schlumberger from $44.00 to $42.00 and set a "neutral" rating on the stock in a research report on Friday. Three research analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $50.56.

Schlumberger Price Performance

Shares of Schlumberger stock traded down $1.30 on Friday, reaching $33.37. 35,360,423 shares of the stock were exchanged, compared to its average volume of 14,295,422. The firm's 50 day moving average is $34.88 and its 200-day moving average is $37.56. Schlumberger Limited has a one year low of $31.11 and a one year high of $50.94. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.93 and a current ratio of 1.24. The firm has a market cap of $45.39 billion, a PE ratio of 11.31, a P/E/G ratio of 9.25 and a beta of 1.01.

Schlumberger (NYSE:SLB - Get Free Report) last issued its quarterly earnings data on Friday, July 18th. The oil and gas company reported $0.74 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%. The firm's revenue was down 6.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.85 EPS. As a group, analysts anticipate that Schlumberger Limited will post 3.38 EPS for the current fiscal year.

Schlumberger Dividend Announcement

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

Insider Buying and Selling

In related news, Director La Chevardiere Patrick De sold 5,000 shares of the stock in a transaction that occurred 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 completion of the transaction, the director owned 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 document filed with the Securities & Exchange Commission, which is available at this link. 0.26% of the stock is currently owned by 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.