Empirical Financial Services LLC d.b.a. Empirical Wealth Management Makes New Investment in Schlumberger Limited (NYSE:SLB)

Key Points

• Empirical Financial Services LLC has invested approximately $624,000 in Schlumberger Limited, acquiring 14,925 shares during the first quarter.
• Recent analyst ratings for Schlumberger have been mixed, with Barclays and Susquehanna lowering their target prices, while Atb Cap Markets upgraded the stock to a "strong-buy."
• Schlumberger announced a quarterly dividend of $0.285 per share, reflecting an annualized dividend yield of 3.5%.

Empirical Financial Services LLC d.b.a. Empirical Wealth Management acquired a new stake in Schlumberger Limited (NYSE:SLB - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 14,925 shares of the oil and gas company's stock, valued at approximately $624,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of SLB. First Command Advisory Services Inc. grew its holdings in Schlumberger by 300.0% in the first quarter. First Command Advisory Services Inc. now owns 636 shares of the oil and gas company's stock valued at $27,000 after purchasing an additional 477 shares during the period. Alpine Bank Wealth Management acquired a new stake in shares of Schlumberger in the first quarter worth approximately $34,000. True Wealth Design LLC boosted its stake in Schlumberger by 584.7% during the fourth quarter. True Wealth Design LLC now owns 986 shares of the oil and gas company's stock worth $38,000 after buying an additional 842 shares during the last quarter. Park Square Financial Group LLC acquired a new position in Schlumberger during the first quarter worth $38,000. Finally, Mpwm Advisory Solutions LLC acquired a new position in Schlumberger during the fourth quarter worth $40,000. 81.99% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Schlumberger news, Director La Chevardiere Patrick De sold 5,000 shares of the firm's stock in a transaction on Thursday, May 22nd. The stock was sold at an average price of $33.58, for a total transaction of $167,900.00. Following the completion of the transaction, the director owned 23,525 shares of the company's stock, valued at approximately $789,969.50. This trade represents a 17.53% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 0.26% of the company's stock.

Schlumberger Price Performance

Schlumberger stock traded down $0.19 during mid-day trading on Monday, hitting $32.86. 11,897,416 shares of the company were exchanged, compared to its average volume of 19,117,582. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.31 and a quick ratio of 0.98. The business's 50 day simple moving average is $34.76 and its two-hundred day simple moving average is $37.11. The company has a market capitalization of $44.40 billion, a P/E ratio of 11.25, a PEG ratio of 9.17 and a beta of 1.03. Schlumberger Limited has a 12-month low of $31.11 and a 12-month high of $46.16.

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

Schlumberger Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 9th. Shareholders of record on Wednesday, September 3rd will be given a dividend of $0.285 per share. The ex-dividend date of this dividend is Wednesday, September 3rd. This represents a $1.14 annualized dividend and a yield of 3.5%. Schlumberger's dividend payout ratio (DPR) is presently 39.04%.

Wall Street Analyst Weigh In

SLB has been the topic of a number of research analyst reports. Susquehanna reduced their target price on Schlumberger from $44.00 to $42.00 and set a "positive" rating on the stock in a research report on Monday, July 21st. Barclays reduced their target price on Schlumberger from $47.00 to $46.00 and set an "overweight" rating on the stock in a research report on Monday, July 21st. JPMorgan Chase & Co. dropped their price objective on Schlumberger from $46.00 to $44.00 and set an "overweight" rating for the company in a research note on Monday, June 30th. Piper Sandler dropped their price objective on Schlumberger from $44.00 to $42.00 and set a "neutral" rating for the company in a research note on Friday, July 18th. Finally, Wells Fargo & Company cut Schlumberger from a "strong-buy" rating to a "hold" rating in a research note on Sunday, July 20th. Four analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, Schlumberger presently has an average rating of "Moderate Buy" and a consensus target price of $49.28.

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.