Edge Wealth Management LLC Boosts Position in Schlumberger Limited (NYSE:SLB)

Edge Wealth Management LLC grew its position in shares of Schlumberger Limited (NYSE:SLB - Free Report) by 7.9% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 271,519 shares of the oil and gas company's stock after purchasing an additional 19,888 shares during the quarter. Schlumberger makes up about 2.3% of Edge Wealth Management LLC's portfolio, making the stock its 19th biggest holding. Edge Wealth Management LLC's holdings in Schlumberger were worth $11,349,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in SLB. Dynamic Technology Lab Private Ltd increased its holdings in Schlumberger by 32.2% in the 4th 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 in the last quarter. Geode Capital Management LLC lifted its position in Schlumberger by 4.8% in 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 buying an additional 1,377,134 shares during the last quarter. Bryn Mawr Capital Management LLC lifted its position in Schlumberger by 502.6% in 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 buying an additional 165,162 shares during the last quarter. Miller Financial Services LLC acquired a new position in Schlumberger in the fourth quarter valued at about $375,000. Finally, Ilmarinen Mutual Pension Insurance Co lifted its position in shares of Schlumberger by 40.4% during the fourth quarter. Ilmarinen Mutual Pension Insurance Co now owns 220,685 shares of the oil and gas company's stock worth $8,461,000 after purchasing an additional 63,500 shares in the last quarter. 81.99% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Schlumberger

In other news, insider Aparna Raman sold 25,133 shares of Schlumberger stock in a transaction on Friday, March 28th. The stock was sold at an average price of $42.28, for a total transaction of $1,062,623.24. Following the completion of the transaction, the insider now owns 31,031 shares of the company's stock, valued at $1,311,990.68. The trade was a 44.75% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 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 value of $167,900.00. Following the transaction, the director now directly owns 23,525 shares of the company's stock, valued at $789,969.50. This trade represents a 17.53% decrease in their position. The disclosure for this sale can be found here. 0.26% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on SLB shares. Stifel Nicolaus reduced their price target on shares of Schlumberger from $58.00 to $54.00 and set a "buy" rating on the stock in a research report on Monday, April 28th. Susquehanna dropped their price target on shares of Schlumberger from $48.00 to $46.00 and set a "positive" rating on the stock in a research note on Monday, April 28th. Morgan Stanley dropped 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. Barclays dropped their price target on shares of Schlumberger from $53.00 to $48.00 and set an "overweight" rating on the stock in a research note on Friday, April 25th. Finally, Piper Sandler dropped 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. Five investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $52.38.

Schlumberger Price Performance

Shares of NYSE SLB opened at $33.07 on Friday. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.45 and a quick ratio of 1.11. The stock has a fifty day moving average price of $34.60 and a 200 day moving average price of $38.74. Schlumberger Limited has a 1-year low of $31.11 and a 1-year high of $50.94. The company has a market cap of $44.98 billion, a PE ratio of 10.63, a P/E/G ratio of 10.10 and a beta of 1.06.

Schlumberger (NYSE:SLB - Get Free Report) last issued its quarterly earnings results on Friday, April 25th. The oil and gas company reported $0.72 earnings per share for the quarter, missing the consensus estimate of $0.73 by ($0.01). Schlumberger had a return on equity of 21.90% and a net margin of 12.29%. The company had revenue of $8.49 billion for the quarter, compared to analyst estimates of $8.64 billion. During the same period in the prior year, the business earned $0.75 earnings per share. Schlumberger's revenue for the quarter was down 2.5% compared to the same quarter last year. Sell-side analysts forecast that Schlumberger Limited will post 3.38 EPS for the current year.

Schlumberger Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 10th. Shareholders of record on Wednesday, June 4th will be issued a $0.285 dividend. This represents a $1.14 dividend on an annualized basis and a yield of 3.45%. The ex-dividend date of this dividend is Wednesday, June 4th. Schlumberger's dividend payout ratio (DPR) is currently 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.

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