Impact Partnership Wealth LLC Takes $646,000 Position in Schlumberger Limited (NYSE:SLB)

Impact Partnership Wealth LLC bought a new stake in Schlumberger Limited (NYSE:SLB - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 15,448 shares of the oil and gas company's stock, valued at approximately $646,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Csenge Advisory Group raised its stake in shares of Schlumberger by 6.2% during the 1st quarter. Csenge Advisory Group now owns 7,372 shares of the oil and gas company's stock worth $308,000 after buying an additional 430 shares during the last quarter. AMG National Trust Bank raised its stake in shares of Schlumberger by 69.0% during the 1st quarter. AMG National Trust Bank now owns 46,151 shares of the oil and gas company's stock worth $1,929,000 after buying an additional 18,835 shares during the last quarter. Formidable Asset Management LLC raised its stake in shares of Schlumberger by 22.4% during the 1st quarter. Formidable Asset Management LLC now owns 9,688 shares of the oil and gas company's stock worth $405,000 after buying an additional 1,770 shares during the last quarter. Mystic Asset Management Inc. raised its stake in shares of Schlumberger by 7.6% during the 1st quarter. Mystic Asset Management Inc. now owns 9,883 shares of the oil and gas company's stock worth $413,000 after buying an additional 700 shares during the last quarter. Finally, Private Advisor Group LLC raised its stake in shares of Schlumberger by 7.9% during the 1st quarter. Private Advisor Group LLC now owns 167,111 shares of the oil and gas company's stock worth $6,985,000 after buying an additional 12,277 shares during the last quarter. Institutional investors and hedge funds own 81.99% of the company's stock.

Schlumberger Trading Down 3.7%

Shares of NYSE:SLB traded down $1.30 during trading on Friday, reaching $33.37. 35,360,423 shares of the stock were exchanged, compared to its average volume of 14,296,101. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.93 and a current ratio of 1.24. Schlumberger Limited has a 12-month low of $31.11 and a 12-month high of $50.52. The firm has a market cap of $45.39 billion, a price-to-earnings ratio of 11.43, a price-to-earnings-growth ratio of 8.96 and a beta of 1.01. The firm's 50-day moving average price is $34.86 and its 200 day moving average price is $37.53.

Schlumberger (NYSE:SLB - Get Free Report) last issued its earnings results on Friday, July 18th. The oil and gas company reported $0.74 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.73 by $0.01. Schlumberger had a return on equity of 21.76% and a net margin of 11.62%. The business had revenue of $8.55 billion during the quarter, compared to analysts' expectations of $8.51 billion. During the same quarter in the previous year, the business earned $0.85 EPS. The company's revenue for the quarter was down 6.5% on a year-over-year basis. On average, sell-side analysts anticipate that Schlumberger Limited will post 3.38 earnings per share for the current fiscal year.

Schlumberger Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 9th. Shareholders of record on Wednesday, September 3rd will be given a $0.285 dividend. This represents a $1.14 annualized dividend and a yield of 3.42%. Schlumberger's dividend payout ratio (DPR) is 38.64%.

Insider Transactions at Schlumberger

In other Schlumberger news, Director La Chevardiere Patrick De sold 5,000 shares of the stock in a transaction that occurred 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 owned 23,525 shares of the company's stock, valued at $789,969.50. This trade represents a 17.53% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.26% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research firms have recently issued reports on SLB. UBS Group lifted their price target on Schlumberger from $44.00 to $45.00 and gave the stock a "buy" rating in a research note on Wednesday, July 2nd. Stifel Nicolaus dropped their price objective on Schlumberger from $54.00 to $52.00 and set a "buy" rating for the company in a research report on Wednesday. Barclays dropped their price objective on Schlumberger from $48.00 to $47.00 and set an "overweight" rating for the company in a research report on Thursday, July 10th. Piper Sandler cut their price objective on shares of Schlumberger from $44.00 to $42.00 and set a "neutral" rating for the company in a research report on Friday. Finally, Susquehanna cut their price objective on shares of Schlumberger from $46.00 to $44.00 and set a "positive" rating for the company in a research report on Tuesday, July 1st. Four research analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, Schlumberger presently has a consensus rating of "Moderate Buy" and a consensus price target of $50.56.

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.