Hohimer Wealth Management LLC Buys Shares of 66,467 Schlumberger Limited (NYSE:SLB)

Hohimer Wealth Management LLC bought a new stake in shares of Schlumberger Limited (NYSE:SLB - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 66,467 shares of the oil and gas company's stock, valued at approximately $2,778,000.

Other hedge funds have also added to or reduced their stakes in the company. Brighton Jones LLC increased its stake in shares of Schlumberger by 21.4% in the 4th quarter. Brighton Jones LLC now owns 6,611 shares of the oil and gas company's stock worth $253,000 after purchasing an additional 1,166 shares in the last quarter. Proficio Capital Partners LLC purchased a new stake in shares of Schlumberger in the 4th quarter worth $209,000. Independent Advisor Alliance increased its stake in shares of Schlumberger by 62.0% in the 4th quarter. Independent Advisor Alliance now owns 13,468 shares of the oil and gas company's stock worth $516,000 after purchasing an additional 5,156 shares in the last quarter. EverSource Wealth Advisors LLC increased its stake in shares of Schlumberger by 14.0% in the 4th quarter. EverSource Wealth Advisors LLC now owns 4,245 shares of the oil and gas company's stock worth $163,000 after purchasing an additional 522 shares in the last quarter. Finally, Avantax Advisory Services Inc. increased its stake in shares of Schlumberger by 36.3% in the 4th quarter. Avantax Advisory Services Inc. now owns 82,740 shares of the oil and gas company's stock worth $3,172,000 after purchasing an additional 22,022 shares in the last quarter. 81.99% of the stock is currently owned by hedge funds and other institutional investors.

Schlumberger Trading Up 1.9%

Shares of Schlumberger stock opened at $37.35 on Monday. The firm has a market cap of $50.80 billion, a price-to-earnings ratio of 12.66, a PEG ratio of 9.93 and a beta of 1.01. The business has a 50-day moving average price of $34.77 and a 200-day moving average price of $37.64. 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 twelve month low of $31.11 and a twelve month high of $50.94.

Schlumberger (NYSE:SLB - Get Free Report) last issued its quarterly earnings data on Friday, April 25th. The oil and gas company reported $0.72 earnings per share for the quarter, missing analysts' consensus estimates of $0.73 by ($0.01). The firm had revenue of $8.49 billion for the quarter, compared to analysts' expectations of $8.64 billion. Schlumberger had a net margin of 11.62% and a return on equity of 21.76%. The company's revenue for the quarter was down 2.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.75 EPS. Equities research analysts anticipate that Schlumberger Limited will post 3.38 EPS for the current fiscal year.

Schlumberger Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 10th. Investors of record on Wednesday, June 4th were issued a $0.285 dividend. This represents a $1.14 dividend on an annualized basis and a dividend yield of 3.05%. The ex-dividend date was Wednesday, June 4th. Schlumberger's payout ratio is 38.64%.

Analyst Upgrades and Downgrades

Several research firms have recently commented on SLB. Atb Cap Markets upgraded Schlumberger from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, July 1st. JPMorgan Chase & Co. reduced their price objective on Schlumberger from $46.00 to $44.00 and set an "overweight" rating for the company in a research note on Monday, June 30th. Barclays dropped their target price on shares of Schlumberger from $48.00 to $47.00 and set an "overweight" rating for the company in a report on Thursday. Piper Sandler dropped their target price on shares of Schlumberger from $46.00 to $44.00 and set a "neutral" rating for the company in a report on Tuesday, April 29th. Finally, UBS Group upped their target price on shares of Schlumberger from $44.00 to $45.00 and gave the stock a "buy" rating in a report on Wednesday, July 2nd. 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 stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $50.79.

Insider Activity at Schlumberger

In related news, Director La Chevardiere Patrick De sold 5,000 shares of the stock in a transaction dated 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 transaction, the director owned 23,525 shares of the company's stock, valued at approximately $789,969.50. This trade represents a 17.53% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.26% of the company's stock.

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.

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