Elevation Point Wealth Partners LLC Has $4.11 Million Stake in Schlumberger Limited (NYSE:SLB)

Elevation Point Wealth Partners LLC lowered its stake in shares of Schlumberger Limited (NYSE:SLB - Free Report) by 7.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 98,317 shares of the oil and gas company's stock after selling 7,404 shares during the quarter. Elevation Point Wealth Partners LLC's holdings in Schlumberger were worth $4,110,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Stonebridge Financial Group LLC acquired a new position in shares of Schlumberger during the fourth quarter worth $32,000. True Wealth Design LLC boosted its stake in Schlumberger by 584.7% in the fourth quarter. True Wealth Design LLC now owns 986 shares of the oil and gas company's stock valued at $38,000 after acquiring an additional 842 shares in the last quarter. Bogart Wealth LLC boosted its stake in shares of Schlumberger by 468.9% during the fourth quarter. Bogart Wealth LLC now owns 1,024 shares of the oil and gas company's stock worth $39,000 after buying an additional 844 shares during the period. Mpwm Advisory Solutions LLC acquired a new stake in shares of Schlumberger during the fourth quarter worth about $40,000. Finally, J.Safra Asset Management Corp acquired a new stake in shares of Schlumberger during the fourth quarter worth about $46,000. Institutional investors and hedge funds own 81.99% of the company's stock.

Schlumberger Stock Up 1.9%

SLB stock traded up $0.68 during midday trading on Friday, hitting $36.31. 15,378,704 shares of the company's stock were exchanged, compared to its average volume of 13,544,791. 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 Limited has a 12-month low of $31.11 and a 12-month high of $50.94. The firm has a 50 day moving average price of $34.36 and a 200-day moving average price of $38.35. The stock has a market capitalization of $49.38 billion, a price-to-earnings ratio of 11.67, a price-to-earnings-growth ratio of 10.10 and a beta of 1.01.

Schlumberger (NYSE:SLB - Get Free Report) last released its quarterly earnings data on Friday, April 25th. The oil and gas company reported $0.72 earnings per share (EPS) 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 company had revenue of $8.49 billion for the quarter, compared to analyst estimates of $8.64 billion. During the same quarter in the prior year, the firm earned $0.75 EPS. The company's revenue for the quarter was down 2.5% compared to the same quarter last year. On average, analysts anticipate that Schlumberger Limited will post 3.38 EPS for the current year.

Schlumberger Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 10th. Stockholders of record on Wednesday, June 4th will be issued a $0.285 dividend. The ex-dividend date is Wednesday, June 4th. This represents a $1.14 annualized dividend and a dividend yield of 3.14%. Schlumberger's dividend payout ratio (DPR) is 38.64%.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on SLB shares. Susquehanna cut their price target on shares of Schlumberger from $48.00 to $46.00 and set a "positive" rating for the company in a report on Monday, April 28th. Stifel Nicolaus lowered their price target on Schlumberger from $58.00 to $54.00 and set a "buy" rating on the stock in a report on Monday, April 28th. Morgan Stanley lowered their price target on Schlumberger from $50.00 to $45.00 and set an "overweight" rating on the stock in a report on Friday, May 16th. Jefferies Financial Group lowered their price target on Schlumberger from $60.00 to $59.00 and set a "buy" rating on the stock in a report on Thursday, March 27th. Finally, Barclays lowered their price target on Schlumberger from $53.00 to $48.00 and set an "overweight" rating on the stock in a report on Friday, April 25th. Four investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, Schlumberger presently has a consensus rating of "Moderate Buy" and a consensus target price of $52.38.

Insider Transactions at Schlumberger

In other Schlumberger news, insider Aparna Raman sold 25,133 shares of the company's stock in a transaction dated Friday, March 28th. The stock was sold at an average price of $42.28, for a total value of $1,062,623.24. Following the transaction, the insider now directly owns 31,031 shares of the company's stock, valued at $1,311,990.68. This represents a 44.75% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director La Chevardiere Patrick De sold 5,000 shares of the company's stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $33.58, for a total value of $167,900.00. Following the completion of the transaction, the director now directly owns 23,525 shares in the company, valued at approximately $789,969.50. The trade was a 17.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.26% of the stock is owned by insiders.

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.