GAM Holding AG Makes New Investment in Schlumberger Limited (NYSE:SLB)

GAM Holding AG bought a new stake in Schlumberger Limited (NYSE:SLB - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 33,025 shares of the oil and gas company's stock, valued at approximately $1,380,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. True Wealth Design LLC lifted its position in shares of Schlumberger by 584.7% in the fourth quarter. True Wealth Design LLC now owns 986 shares of the oil and gas company's stock valued at $38,000 after acquiring an additional 842 shares in the last quarter. Mpwm Advisory Solutions LLC purchased a new position in shares of Schlumberger in the fourth quarter valued at approximately $40,000. Sound Income Strategies LLC lifted its position in shares of Schlumberger by 265.4% in the first quarter. Sound Income Strategies LLC now owns 961 shares of the oil and gas company's stock valued at $40,000 after acquiring an additional 698 shares in the last quarter. J.Safra Asset Management Corp purchased a new position in shares of Schlumberger in the fourth quarter valued at approximately $46,000. Finally, Heck Capital Advisors LLC purchased a new position in shares of Schlumberger in the fourth quarter valued at approximately $47,000. Hedge funds and other institutional investors own 81.99% of the company's stock.

Insiders Place Their Bets

In other news, insider Aparna Raman sold 25,133 shares of Schlumberger stock in a transaction on Friday, March 28th. The stock was sold at an average price of $42.28, for a total value of $1,062,623.24. Following the completion of the sale, the insider now directly owns 31,031 shares of the company's stock, valued at approximately $1,311,990.68. The trade was a 44.75% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director La Chevardiere Patrick De sold 5,000 shares of Schlumberger stock in a transaction 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 disclosure for this sale can be found here. 0.26% of the stock is owned by insiders.

Schlumberger Price Performance

SLB stock opened at $35.82 on Friday. The business has a fifty day moving average of $34.54 and a two-hundred day moving average of $38.08. The company has a quick ratio of 0.93, a current ratio of 1.24 and a debt-to-equity ratio of 0.51. The stock has a market cap of $48.71 billion, a price-to-earnings ratio of 12.14, a price-to-earnings-growth ratio of 9.29 and a beta of 1.01. Schlumberger Limited has a 52-week low of $31.11 and a 52-week high of $50.94.

Schlumberger (NYSE:SLB - Get Free Report) last posted its earnings results on Friday, April 25th. The oil and gas company reported $0.72 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.73 by ($0.01). The business had revenue of $8.49 billion for 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 period last year, the business earned $0.75 EPS. As a group, research analysts anticipate that Schlumberger Limited will post 3.38 earnings per share for the current year.

Schlumberger Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 10th. Shareholders of record on Wednesday, June 4th will be paid a dividend of $0.285 per share. The ex-dividend date of this dividend is Wednesday, June 4th. This represents a $1.14 annualized dividend and a yield of 3.18%. Schlumberger's dividend payout ratio (DPR) is 38.64%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on SLB shares. Jefferies Financial Group decreased their target price on Schlumberger from $60.00 to $59.00 and set a "buy" rating on the stock in a research report on Thursday, March 27th. Wells Fargo & Company decreased their target price on Schlumberger from $46.00 to $43.00 and set an "overweight" rating on the stock in a research report on Thursday, June 5th. Barclays reduced their price objective on Schlumberger from $53.00 to $48.00 and set an "overweight" rating on the stock in a research report on Friday, April 25th. Piper Sandler reduced their price objective on Schlumberger from $46.00 to $44.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 29th. Finally, Morgan Stanley reduced their price objective on Schlumberger from $50.00 to $45.00 and set an "overweight" rating on the stock in a research report on Friday, May 16th. Four investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price 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.

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