Fiduciary Family Office LLC Makes New Investment in Schlumberger Limited (NYSE:SLB)

Key Points

• Fiduciary Family Office LLC acquired a new stake in Schlumberger Limited, purchasing 19,832 shares valued at approximately $829,000 in the first quarter.
• Several institutional investors have increased their holdings in Schlumberger, with Charles Schwab Investment Management raising its stake by 478.8%, now owning shares worth nearly $1.99 billion.
• Schlumberger recently declared a quarterly dividend of $0.285 per share, with an annualized yield of 3.5%, as it prepares for continued operational growth.

Fiduciary Family Office LLC purchased a new position in Schlumberger Limited (NYSE:SLB - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 19,832 shares of the oil and gas company's stock, valued at approximately $829,000.

Other institutional investors also recently bought and sold shares of the company. Scharf Investments LLC raised its stake in Schlumberger by 20.5% in the first quarter. Scharf Investments LLC now owns 1,653,895 shares of the oil and gas company's stock worth $69,133,000 after buying an additional 281,773 shares in the last quarter. Integrated Advisors Network LLC raised its stake in Schlumberger by 810.4% in the first quarter. Integrated Advisors Network LLC now owns 75,163 shares of the oil and gas company's stock worth $3,142,000 after buying an additional 66,907 shares in the last quarter. Alan B Lancz & Associates Inc. bought a new position in Schlumberger in the first quarter worth about $308,000. Stratos Investment Management LLC raised its stake in Schlumberger by 236.0% in the first quarter. Stratos Investment Management LLC now owns 146,908 shares of the oil and gas company's stock worth $6,141,000 after buying an additional 103,182 shares in the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new position in shares of Schlumberger during the fourth quarter valued at approximately $56,507,000. 81.99% of the stock is owned by institutional investors.

Schlumberger Stock Performance

SLB stock traded up $0.11 on Friday, hitting $32.90. The company had a trading volume of 10,215,438 shares, compared to its average volume of 19,085,280. Schlumberger Limited has a 12-month low of $31.11 and a 12-month high of $46.16. The company has a current ratio of 1.31, a quick ratio of 0.98 and a debt-to-equity ratio of 0.51. The stock's 50-day simple moving average is $34.72 and its 200 day simple moving average is $36.84. The stock has a market cap of $44.46 billion, a price-to-earnings ratio of 11.27, a P/E/G ratio of 9.12 and a beta of 1.03.

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 for the quarter, topping the consensus estimate of $0.73 by $0.01. The business had revenue of $8.55 billion for the quarter, compared to analysts' expectations of $8.51 billion. Schlumberger had a net margin of 11.53% and a return on equity of 20.99%. The company's revenue was down 6.5% compared to the same quarter last year. During the same quarter last year, the company posted $0.85 EPS. As a group, equities research analysts expect that Schlumberger Limited will post 3.38 earnings per share for the current fiscal year.

Schlumberger Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on SLB. Wells Fargo & Company downgraded shares of Schlumberger from a "strong-buy" rating to a "hold" rating in a research note on Sunday, July 20th. Stifel Nicolaus decreased their target price on shares of Schlumberger from $54.00 to $52.00 and set a "buy" rating for the company in a research note on Wednesday, July 16th. Barclays decreased their target price on shares of Schlumberger from $47.00 to $46.00 and set an "overweight" rating for the company in a research note on Monday, July 21st. Morgan Stanley decreased their target price on shares of Schlumberger from $50.00 to $45.00 and set an "overweight" rating for the company in a research note on Friday, May 16th. Finally, Piper Sandler decreased their target price on shares of Schlumberger from $44.00 to $42.00 and set a "neutral" rating for the company in a research note on Friday, July 18th. Four analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $49.28.

Insider Buying and Selling at Schlumberger

In other news, Director La Chevardiere Patrick De sold 5,000 shares of the firm's stock in a transaction on Thursday, May 22nd. The shares were sold at an average price of $33.58, for a total transaction of $167,900.00. Following the sale, the director directly owned 23,525 shares in the company, valued at $789,969.50. This trade represents a 17.53% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.26% of the stock is owned by corporate insiders.

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.