Ellsworth Advisors LLC Purchases New Position in Schlumberger Limited $SLB

Key Points

• Ellsworth Advisors LLC has acquired a new stake in Schlumberger Limited, purchasing 41,605 shares valued at approximately $1.74 million during the first quarter of 2023.
• Schlumberger reported a quarterly earnings per share of $0.74, slightly exceeding projections, despite a 6.5% revenue decline year-over-year.
• The company announced a quarterly dividend of $0.285 per share, representing an annualized yield of 3.2%, with various institutional investors holding around 81.99% of the stock.

Ellsworth Advisors LLC purchased a new stake in Schlumberger Limited (NYSE:SLB - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 41,605 shares of the oil and gas company's stock, valued at approximately $1,739,000.

Several other large investors have also added to or reduced their stakes in SLB. First Command Advisory Services Inc. lifted its position in shares of Schlumberger by 300.0% during the 1st quarter. First Command Advisory Services Inc. now owns 636 shares of the oil and gas company's stock worth $27,000 after buying an additional 477 shares in the last quarter. Atlas Capital Advisors Inc. bought a new position in shares of Schlumberger during the 1st quarter worth approximately $33,000. Alpine Bank Wealth Management bought a new position in shares of Schlumberger during the 1st quarter worth approximately $34,000. Park Square Financial Group LLC bought a new position in shares of Schlumberger during the 1st quarter worth approximately $38,000. Finally, Mpwm Advisory Solutions LLC bought a new position in shares of Schlumberger during the 4th quarter worth approximately $40,000. Institutional investors own 81.99% of the company's stock.

Schlumberger Trading Up 1.1%

Shares of SLB stock opened at $36.16 on Thursday. The company has a 50 day moving average of $34.81 and a 200-day moving average of $35.86. The company has a quick ratio of 0.98, a current ratio of 1.31 and a debt-to-equity ratio of 0.51. Schlumberger Limited has a 12-month low of $31.11 and a 12-month high of $46.15. The firm has a market cap of $54.00 billion, a P/E ratio of 12.38, a PEG ratio of 9.93 and a beta of 1.05.

Schlumberger (NYSE:SLB - Get Free Report) last issued its quarterly earnings results on Friday, July 18th. The oil and gas company reported $0.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.73 by $0.01. Schlumberger had a net margin of 11.53% and a return on equity of 20.99%. The company had revenue of $8.55 billion during the quarter, compared to analyst estimates of $8.51 billion. During the same quarter last year, the business posted $0.85 EPS. Schlumberger's quarterly revenue was down 6.5% compared to the same quarter last year. Sell-side analysts anticipate that Schlumberger Limited will post 3.38 earnings per share for the current year.

Schlumberger Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 9th. Shareholders of record on Wednesday, September 3rd will be issued a dividend of $0.285 per share. The ex-dividend date of this dividend is Wednesday, September 3rd. This represents a $1.14 dividend on an annualized basis and a yield of 3.2%. Schlumberger's payout ratio is presently 39.04%.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Piper Sandler dropped 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, July 18th. Melius Research assumed coverage on shares of Schlumberger in a research report on Wednesday, August 20th. They set a "buy" rating and a $82.00 target price on the stock. UBS Group dropped their target price on shares of Schlumberger from $45.00 to $44.00 and set a "buy" rating on the stock in a research report on Wednesday, August 20th. Barclays dropped their target price on shares of Schlumberger from $47.00 to $46.00 and set an "overweight" rating on the stock in a research report on Monday, July 21st. Finally, Wells Fargo & Company cut shares of Schlumberger from a "strong-buy" rating to a "hold" rating in a research report on Sunday, July 20th. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $52.86.

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.

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