Schlumberger Limited (NYSE:SLB) Stake Reduced by Envestnet Portfolio Solutions Inc.

Envestnet Portfolio Solutions Inc. reduced its position in shares of Schlumberger Limited (NYSE:SLB - Free Report) by 19.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 206,097 shares of the oil and gas company's stock after selling 48,833 shares during the period. Envestnet Portfolio Solutions Inc.'s holdings in Schlumberger were worth $8,615,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Boston Trust Walden Corp boosted its position in Schlumberger by 21.2% during the first quarter. Boston Trust Walden Corp now owns 395,261 shares of the oil and gas company's stock worth $16,522,000 after acquiring an additional 69,017 shares during the last quarter. Janney Capital Management LLC grew its position in shares of Schlumberger by 39.7% in the first quarter. Janney Capital Management LLC now owns 162,408 shares of the oil and gas company's stock valued at $6,789,000 after purchasing an additional 46,177 shares during the period. State of Alaska Department of Revenue increased its stake in Schlumberger by 1.8% in the first quarter. State of Alaska Department of Revenue now owns 163,974 shares of the oil and gas company's stock valued at $6,854,000 after purchasing an additional 2,975 shares during the last quarter. Essex Savings Bank lifted its position in Schlumberger by 44.5% during the first quarter. Essex Savings Bank now owns 7,695 shares of the oil and gas company's stock worth $322,000 after buying an additional 2,369 shares during the period. Finally, Cornerstone Wealth Management LLC boosted its stake in Schlumberger by 17.4% in the 1st quarter. Cornerstone Wealth Management LLC now owns 16,211 shares of the oil and gas company's stock worth $678,000 after buying an additional 2,398 shares during the last quarter. 81.99% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Schlumberger

In other Schlumberger news, insider Aparna Raman sold 25,133 shares of Schlumberger stock in a transaction on Friday, March 28th. The shares were sold at an average price of $42.28, for a total value 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director La Chevardiere Patrick De sold 5,000 shares of the 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 sale, the director now directly owns 23,525 shares in the company, valued at $789,969.50. This trade represents a 17.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.26% of the company's stock.

Schlumberger Stock Down 0.1%

SLB stock traded down $0.04 during trading on Friday, reaching $35.82. The stock had a trading volume of 29,993,139 shares, compared to its average volume of 13,603,827. The company has a current ratio of 1.24, a quick ratio of 0.93 and a debt-to-equity ratio of 0.51. The firm has a fifty day moving average price of $34.54 and a 200 day moving average price of $38.08. The company has a market capitalization of $48.71 billion, a P/E ratio of 12.14, a PEG ratio of 9.29 and a beta of 1.02. Schlumberger Limited has a 1-year low of $31.11 and a 1-year high of $50.94.

Schlumberger (NYSE:SLB - Get Free Report) last released its quarterly earnings results on Friday, April 25th. The oil and gas company reported $0.72 EPS for the quarter, missing the consensus estimate of $0.73 by ($0.01). The business had revenue of $8.49 billion during the quarter, compared to analyst estimates of $8.64 billion. Schlumberger had a return on equity of 21.76% and a net margin of 11.62%. The company's revenue was down 2.5% compared to the same quarter last year. During the same quarter last year, the firm posted $0.75 EPS. On average, equities analysts anticipate that Schlumberger Limited will post 3.38 earnings per share for the current year.

Schlumberger Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 10th. Stockholders of record on Wednesday, June 4th will be given a dividend of $0.285 per share. This represents a $1.14 dividend on an annualized basis and a dividend yield of 3.18%. The ex-dividend date is Wednesday, June 4th. Schlumberger's payout ratio is currently 38.64%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on SLB shares. Morgan Stanley cut their price objective on shares of Schlumberger from $50.00 to $45.00 and set an "overweight" rating on the stock in a report on Friday, May 16th. Barclays cut 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. Stifel Nicolaus cut their price target on shares of Schlumberger from $58.00 to $54.00 and set a "buy" rating on the stock in a research note on Monday, April 28th. Susquehanna cut 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. Finally, Piper Sandler cut 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. Four equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $52.38.

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.