Journey Strategic Wealth LLC Purchases Shares of 7,841 Schlumberger Limited (NYSE:SLB)

Key Points

• Journey Strategic Wealth LLC acquired 7,841 shares of Schlumberger Limited valued at approximately $328,000 during the first quarter of 2023.
• Recent insider trading saw Director La Chevardiere Patrick De sell 5,000 shares at an average price of $33.58, reducing his ownership by 17.53%.
• Analysts have adjusted Schlumberger's price targets, with a consensus average target of $49.28 and ratings ranging from hold to strong buy.

Journey Strategic Wealth LLC acquired a new position in shares of Schlumberger Limited (NYSE:SLB - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 7,841 shares of the oil and gas company's stock, valued at approximately $328,000.

Other institutional investors also recently modified their holdings of the company. First Command Advisory Services Inc. increased its stake in shares of Schlumberger by 300.0% during the 1st quarter. First Command Advisory Services Inc. now owns 636 shares of the oil and gas company's stock worth $27,000 after purchasing an additional 477 shares during the last quarter. Alpine Bank Wealth Management bought a new stake in Schlumberger in the 1st quarter valued at about $34,000. True Wealth Design LLC boosted its holdings in Schlumberger by 584.7% in the 4th quarter. True Wealth Design LLC now owns 986 shares of the oil and gas company's stock valued at $38,000 after purchasing an additional 842 shares during the period. Park Square Financial Group LLC bought a new stake in shares of Schlumberger during the 1st quarter worth approximately $38,000. Finally, Mpwm Advisory Solutions LLC bought a new stake in shares of Schlumberger during the 4th quarter worth approximately $40,000. 81.99% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Schlumberger

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

Analysts Set New Price Targets

A number of brokerages have recently weighed in on SLB. Susquehanna cut their price target on shares of Schlumberger from $44.00 to $42.00 and set a "positive" rating for the company in a report on Monday, July 21st. Jefferies Financial Group decreased their price target on shares of Schlumberger from $54.00 to $53.00 and set a "buy" rating for the company in a research report on Thursday, June 26th. Morgan Stanley decreased their price target on shares of Schlumberger from $50.00 to $45.00 and set an "overweight" rating for the company in a research report on Friday, May 16th. Barclays decreased their price target on shares of Schlumberger from $47.00 to $46.00 and set an "overweight" rating for the company in a research report on Monday, July 21st. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Schlumberger from $46.00 to $44.00 and set an "overweight" rating for the company in a research report on Monday, June 30th. Four research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Schlumberger has an average rating of "Moderate Buy" and an average target price of $49.28.

Schlumberger Trading Up 0.7%

NYSE:SLB opened at $35.48 on Friday. The company has a current ratio of 1.31, a quick ratio of 0.98 and a debt-to-equity ratio of 0.51. The stock has a market capitalization of $48.26 billion, a price-to-earnings ratio of 12.15, a PEG ratio of 9.70 and a beta of 1.01. The firm has a fifty day simple moving average of $34.75 and a two-hundred day simple moving average of $37.40. Schlumberger Limited has a 12 month low of $31.11 and a 12 month high of $49.31.

Schlumberger (NYSE:SLB - Get Free Report) last posted its quarterly earnings results on Friday, July 18th. The oil and gas company reported $0.74 EPS for the quarter, topping analysts' consensus estimates of $0.73 by $0.01. Schlumberger had a net margin of 11.53% and a return on equity of 20.99%. The business had revenue of $8.55 billion during the quarter, compared to analysts' expectations of $8.51 billion. During the same period last year, the company posted $0.85 earnings per share. The business's quarterly revenue was down 6.5% on a year-over-year basis. Analysts expect that Schlumberger Limited will post 3.38 EPS for the current fiscal year.

Schlumberger Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 9th. Shareholders of record on Wednesday, September 3rd will be paid a $0.285 dividend. This represents a $1.14 dividend on an annualized basis and a dividend yield of 3.21%. The ex-dividend date of this dividend is Wednesday, September 3rd. Schlumberger's dividend payout ratio (DPR) is 39.04%.

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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