Ferguson Wellman Capital Management Inc. Has $2.87 Million Stock Holdings in Schlumberger Limited (NYSE:SLB)

Ferguson Wellman Capital Management Inc. reduced its holdings in shares of Schlumberger Limited (NYSE:SLB - Free Report) by 62.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 68,564 shares of the oil and gas company's stock after selling 115,207 shares during the quarter. Ferguson Wellman Capital Management Inc.'s holdings in Schlumberger were worth $2,866,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the business. Stonebridge Financial Group LLC acquired a new position in shares of Schlumberger during the fourth quarter worth $32,000. Golden State Wealth Management LLC acquired a new stake in Schlumberger during the 4th quarter valued at approximately $34,000. True Wealth Design LLC increased its holdings in Schlumberger by 584.7% during the 4th quarter. True Wealth Design LLC now owns 986 shares of the oil and gas company's stock worth $38,000 after purchasing an additional 842 shares during the last quarter. Bogart Wealth LLC raised its position in shares of Schlumberger by 468.9% in the 4th quarter. Bogart Wealth LLC now owns 1,024 shares of the oil and gas company's stock valued at $39,000 after purchasing an additional 844 shares in the last quarter. Finally, Mpwm Advisory Solutions LLC purchased a new position in shares of Schlumberger during the 4th quarter valued at approximately $40,000. Institutional investors and hedge funds own 81.99% of the company's stock.

Schlumberger Trading Up 1.9%

SLB stock traded up $0.68 during mid-day trading on Friday, reaching $36.31. 11,652,515 shares of the stock traded hands, compared to its average volume of 13,535,756. Schlumberger Limited has a 52-week low of $31.11 and a 52-week high of $50.94. The stock's fifty day moving average is $34.27 and its 200-day moving average is $38.43. The company has a market cap of $49.38 billion, a P/E ratio of 11.67, a P/E/G ratio of 10.10 and a beta of 1.01. 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 (NYSE:SLB - Get Free Report) last posted its quarterly earnings data 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 firm had revenue of $8.49 billion for the quarter, compared to analysts' expectations of $8.64 billion. During the same quarter in the previous year, the firm posted $0.75 earnings per share. The company's revenue for the quarter was down 2.5% on a year-over-year basis. As a group, sell-side analysts expect that Schlumberger Limited will post 3.38 earnings per share for the current year.

Schlumberger Dividend Announcement

The firm also recently announced 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 dividend on an annualized basis and a dividend yield of 3.14%. Schlumberger's dividend payout ratio is 38.64%.

Insider Activity

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

Analyst Upgrades and Downgrades

Several brokerages have recently commented on SLB. Wells Fargo & Company reduced their price target on shares of Schlumberger from $46.00 to $43.00 and set an "overweight" rating on the stock in a research report on Thursday, June 5th. Stifel Nicolaus dropped their price target on Schlumberger from $58.00 to $54.00 and set a "buy" rating on the stock in a research report on Monday, April 28th. Piper Sandler lowered their target price on shares of Schlumberger from $46.00 to $44.00 and set a "neutral" rating for the company in a research note on Tuesday, April 29th. Morgan Stanley dropped their target price 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. Finally, Susquehanna lowered their target price on Schlumberger from $48.00 to $46.00 and set a "positive" rating for the company in a report on Monday, April 28th. Four 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's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus 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.