Schlumberger Limited (NYSE:SLB) Shares Sold by Financial Counselors Inc.

Financial Counselors Inc. cut its holdings in shares of Schlumberger Limited (NYSE:SLB - Free Report) by 2.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 327,878 shares of the oil and gas company's stock after selling 9,653 shares during the quarter. Financial Counselors Inc.'s holdings in Schlumberger were worth $13,705,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Dynamic Technology Lab Private Ltd lifted its position in Schlumberger by 32.2% during the fourth quarter. Dynamic Technology Lab Private Ltd now owns 71,390 shares of the oil and gas company's stock worth $2,737,000 after buying an additional 17,405 shares during the period. Geode Capital Management LLC lifted its position in Schlumberger by 4.8% during the fourth quarter. Geode Capital Management LLC now owns 29,985,360 shares of the oil and gas company's stock worth $1,146,195,000 after buying an additional 1,377,134 shares during the period. Scharf Investments LLC lifted its position in Schlumberger by 20.5% during 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 during the period. Integrated Advisors Network LLC lifted its position in Schlumberger by 810.4% during 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 during the period. Finally, Miller Financial Services LLC purchased a new position in Schlumberger during the fourth quarter worth about $375,000. 81.99% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Schlumberger

In related 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 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 in the company, valued at $789,969.50. The trade was a 17.53% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.26% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

SLB has been the topic of a number of research reports. Piper Sandler cut their price objective on Schlumberger from $46.00 to $44.00 and set a "neutral" rating on the stock in a report on Tuesday, April 29th. Morgan Stanley dropped their target price on Schlumberger from $50.00 to $45.00 and set an "overweight" rating on the stock in a report on Friday, May 16th. Atb Cap Markets upgraded Schlumberger from a "hold" rating to a "strong-buy" rating in a report on Tuesday, July 1st. Jefferies Financial Group dropped their target price on Schlumberger from $54.00 to $53.00 and set a "buy" rating on the stock in a report on Thursday, June 26th. Finally, JPMorgan Chase & Co. dropped their target price on Schlumberger from $46.00 to $44.00 and set an "overweight" rating on the stock in a report on Monday, June 30th. Three analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $50.85.

Schlumberger Stock Performance

Shares of SLB traded up $1.58 during mid-day trading on Tuesday, hitting $36.53. The stock had a trading volume of 13,518,002 shares, compared to its average volume of 16,284,454. The company has a market cap of $49.69 billion, a PE ratio of 12.38, a PEG ratio of 9.38 and a beta of 1.01. The company's fifty day simple moving average is $34.55 and its two-hundred day simple moving average is $37.66. The company has a quick ratio of 0.93, a current ratio of 1.24 and a debt-to-equity ratio of 0.51. Schlumberger Limited has a fifty-two week low of $31.11 and a fifty-two week high of $50.94.

Schlumberger (NYSE:SLB - Get Free Report) last issued its 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 firm 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%. Schlumberger's revenue was down 2.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.75 EPS. On average, equities analysts expect that Schlumberger Limited will post 3.38 earnings per share for the current year.

Schlumberger Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 10th. Investors of record on Wednesday, June 4th will be given a dividend of $0.285 per share. The ex-dividend date of this dividend is Wednesday, June 4th. This represents a $1.14 dividend on an annualized basis and a yield of 3.12%. Schlumberger's dividend payout ratio is currently 38.64%.

About Schlumberger

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.