Isthmus Partners LLC Purchases 31,810 Shares of Schlumberger Limited (NYSE:SLB)

Isthmus Partners LLC lifted its stake in shares of Schlumberger Limited (NYSE:SLB - Free Report) by 14.0% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 259,723 shares of the oil and gas company's stock after buying an additional 31,810 shares during the quarter. Isthmus Partners LLC's holdings in Schlumberger were worth $10,856,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently modified their holdings of the stock. Alpine Bank Wealth Management bought a new position in shares of Schlumberger in the 1st quarter worth $34,000. Park Square Financial Group LLC bought a new position in shares of Schlumberger in the first quarter valued at $38,000. Sound Income Strategies LLC grew its holdings in shares of Schlumberger by 265.4% during 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 during the last quarter. True Wealth Design LLC grew its holdings in shares of Schlumberger by 584.7% during the fourth quarter. True Wealth Design LLC now owns 986 shares of the oil and gas company's stock valued at $38,000 after buying an additional 842 shares during the last quarter. Finally, Mpwm Advisory Solutions LLC acquired a new stake in shares of Schlumberger in the 4th quarter worth about $40,000. Institutional investors own 81.99% of the company's stock.

Schlumberger Stock Performance

SLB traded down $0.45 during trading hours on Wednesday, hitting $34.62. The stock had a trading volume of 19,845,761 shares, compared to its average volume of 13,961,415. Schlumberger Limited has a 1 year low of $31.11 and a 1 year high of $50.94. The company's fifty day simple moving average is $34.85 and its 200 day simple moving average is $37.61. The stock has a market cap of $47.09 billion, a PE ratio of 11.74, a price-to-earnings-growth ratio of 9.38 and a beta of 1.01. 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 (NYSE:SLB - Get Free Report) last posted its quarterly 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 during the quarter, compared to the consensus estimate of $8.64 billion. Schlumberger had a net margin of 11.62% and a return on equity of 21.76%. The business's revenue for the quarter was down 2.5% on a year-over-year basis. During the same period last year, the firm earned $0.75 EPS. Equities 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 was paid on Thursday, July 10th. Shareholders of record on Wednesday, June 4th were issued a dividend of $0.285 per share. The ex-dividend date of this dividend was Wednesday, June 4th. This represents a $1.14 dividend on an annualized basis and a yield of 3.29%. Schlumberger's payout ratio is 38.64%.

Insider Activity at Schlumberger

In related news, Director La Chevardiere Patrick De sold 5,000 shares of the business's stock in a transaction 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 sale, the director directly owned 23,525 shares in the company, valued at approximately $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 can be accessed through this hyperlink. 0.26% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts have commented on the company. Stifel Nicolaus decreased their price objective on Schlumberger from $54.00 to $52.00 and set a "buy" rating for the company in a report on Wednesday. Wells Fargo & Company lowered their price target on Schlumberger from $46.00 to $43.00 and set an "overweight" rating for the company in a research report on Thursday, June 5th. Jefferies Financial Group dropped their price objective on Schlumberger from $54.00 to $53.00 and set a "buy" rating on the stock in a research note on Thursday, June 26th. Piper Sandler reduced their target price on shares of Schlumberger from $46.00 to $44.00 and set a "neutral" rating for the company in a research note on Tuesday, April 29th. Finally, Susquehanna lowered their target price on shares of Schlumberger from $46.00 to $44.00 and set a "positive" rating for the company in a report on Tuesday, July 1st. Three investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $50.68.

Schlumberger Company 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.