Schlumberger Limited (NYSE:SLB) Position Increased by Great Lakes Retirement Inc.

Great Lakes Retirement Inc. boosted its position in Schlumberger Limited (NYSE:SLB - Free Report) by 3.4% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 266,513 shares of the oil and gas company's stock after buying an additional 8,729 shares during the period. Schlumberger makes up about 1.5% of Great Lakes Retirement Inc.'s holdings, making the stock its 19th biggest position. Great Lakes Retirement Inc.'s holdings in Schlumberger were worth $11,215,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of SLB. Sound Income Strategies LLC increased 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 buying an additional 698 shares in the last quarter. 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 valued at $38,000 after acquiring an additional 842 shares in the last quarter. Bogart Wealth LLC raised its position in Schlumberger by 468.9% during the fourth quarter. Bogart Wealth LLC now owns 1,024 shares of the oil and gas company's stock worth $39,000 after acquiring an additional 844 shares during the last quarter. Mpwm Advisory Solutions LLC purchased a new stake in Schlumberger in the 4th quarter valued at approximately $40,000. Finally, J.Safra Asset Management Corp purchased a new stake in shares of Schlumberger in the fourth quarter valued at $46,000. 81.99% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on SLB. Susquehanna cut their target price on shares of Schlumberger from $48.00 to $46.00 and set a "positive" rating for the company in a research note on Monday, April 28th. Jefferies Financial Group reduced their price objective on shares of Schlumberger from $60.00 to $59.00 and set a "buy" rating on the stock in a research note on Thursday, March 27th. Stifel Nicolaus lowered their target price on shares of Schlumberger from $58.00 to $54.00 and set a "buy" rating for the company in a research note on Monday, April 28th. Barclays cut their price target on Schlumberger from $53.00 to $48.00 and set an "overweight" rating for the company in a report on Friday, April 25th. Finally, Piper Sandler decreased 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. Four equities research 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 company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $52.38.

Schlumberger Stock Down 1.1%

Shares of NYSE:SLB traded down $0.40 during midday trading on Monday, hitting $35.90. 16,100,774 shares of the company's stock traded hands, compared to its average volume of 13,555,013. The firm's fifty day moving average price is $34.36 and its two-hundred day moving average price is $38.31. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.11 and a current ratio of 1.45. Schlumberger Limited has a twelve month low of $31.11 and a twelve month high of $50.94. The company has a market cap of $48.84 billion, a PE ratio of 11.54, a P/E/G ratio of 10.10 and a beta of 1.01.

Schlumberger (NYSE:SLB - Get Free Report) last issued its earnings results 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 company had revenue of $8.49 billion during the quarter, compared to analysts' expectations of $8.64 billion. During the same period in the previous year, the company earned $0.75 EPS. Schlumberger's quarterly revenue was down 2.5% on a year-over-year basis. On average, equities research analysts anticipate that Schlumberger Limited will post 3.38 EPS for the current fiscal year.

Schlumberger Announces Dividend

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

Insider Activity

In other Schlumberger news, Director La Chevardiere Patrick De sold 5,000 shares of the firm'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 sale, the director now owns 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 through the SEC website. Also, insider Aparna Raman sold 25,133 shares of the company's stock in a transaction that occurred 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 directly owns 31,031 shares in the company, valued at approximately $1,311,990.68. The trade was a 44.75% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.26% of the company's stock.

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.