Lmcg Investments LLC Grows Stock Position in Schlumberger Limited (NYSE:SLB)

Lmcg Investments LLC boosted its stake in shares of Schlumberger Limited (NYSE:SLB - Free Report) by 43.7% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 213,131 shares of the oil and gas company's stock after buying an additional 64,836 shares during the quarter. Lmcg Investments LLC's holdings in Schlumberger were worth $8,909,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in SLB. TCW Group Inc. boosted its position in Schlumberger by 1.3% during the fourth quarter. TCW Group Inc. now owns 19,797 shares of the oil and gas company's stock valued at $759,000 after acquiring an additional 259 shares during the last quarter. Vident Advisory LLC lifted its stake in Schlumberger by 1.0% in the fourth quarter. Vident Advisory LLC now owns 27,838 shares of the oil and gas company's stock valued at $1,067,000 after buying an additional 273 shares during the period. Glen Eagle Advisors LLC boosted its holdings in shares of Schlumberger by 3.7% during the 4th quarter. Glen Eagle Advisors LLC now owns 7,843 shares of the oil and gas company's stock worth $301,000 after buying an additional 282 shares in the last quarter. Cromwell Holdings LLC grew its position in shares of Schlumberger by 7.0% during the 4th quarter. Cromwell Holdings LLC now owns 4,350 shares of the oil and gas company's stock worth $167,000 after buying an additional 283 shares during the period. Finally, Massachusetts Wealth Management increased its stake in shares of Schlumberger by 0.6% in the 4th quarter. Massachusetts Wealth Management now owns 49,742 shares of the oil and gas company's stock valued at $1,907,000 after acquiring an additional 300 shares in the last quarter. Institutional investors own 81.99% of the company's stock.

Wall Street Analysts Forecast Growth

SLB has been the topic of several research reports. Piper Sandler dropped their price objective on shares of Schlumberger from $46.00 to $44.00 and set a "neutral" rating on the stock in a report on Tuesday, April 29th. Stifel Nicolaus lowered their target price on Schlumberger from $58.00 to $54.00 and set a "buy" rating on the stock in a research report on Monday, April 28th. Wells Fargo & Company reduced their price target on shares of Schlumberger from $46.00 to $43.00 and set an "overweight" rating for the company in a research report on Thursday. Jefferies Financial Group decreased their price target on shares of Schlumberger from $60.00 to $59.00 and set a "buy" rating for the company in a research note on Thursday, March 27th. Finally, Susquehanna reduced their price objective on shares of Schlumberger from $48.00 to $46.00 and set a "positive" rating for the company in a report on Monday, April 28th. Five research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, Schlumberger presently has an average rating of "Moderate Buy" and a consensus target price of $52.38.

Schlumberger Price Performance

SLB traded up $0.79 during trading on Friday, reaching $33.87. 10,406,499 shares of the company were exchanged, compared to its average volume of 13,484,247. Schlumberger Limited has a 12-month low of $31.11 and a 12-month high of $50.94. The company's 50-day moving average is $34.60 and its two-hundred day moving average is $38.74. The company has a quick ratio of 1.11, a current ratio of 1.45 and a debt-to-equity ratio of 0.49. The company has a market cap of $46.07 billion, a price-to-earnings ratio of 10.89, a P/E/G ratio of 10.10 and a beta of 1.06.

Schlumberger (NYSE:SLB - Get Free Report) last announced its quarterly earnings results on Friday, April 25th. The oil and gas company reported $0.72 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.73 by ($0.01). The firm had revenue of $8.49 billion during the quarter, compared to analysts' expectations of $8.64 billion. Schlumberger had a return on equity of 21.90% and a net margin of 12.29%. The company's quarterly revenue was down 2.5% compared to the same quarter last year. During the same period in the previous year, the company posted $0.75 earnings per share. Research analysts forecast that Schlumberger Limited will post 3.38 earnings per share for the current fiscal year.

Schlumberger Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 10th. Investors of record on Wednesday, June 4th will be given a dividend of $0.285 per share. This represents a $1.14 annualized dividend and a yield of 3.37%. The ex-dividend date is Wednesday, June 4th. Schlumberger's payout ratio is 38.64%.

Insiders Place Their Bets

In other news, Director La Chevardiere Patrick De sold 5,000 shares of Schlumberger stock in a transaction on Thursday, May 22nd. The shares were 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 directly owns 23,525 shares of the company's stock, valued at approximately $789,969.50. The trade was a 17.53% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Aparna Raman sold 25,133 shares of the stock in a transaction dated 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 transaction, the insider now owns 31,031 shares in the company, valued at $1,311,990.68. This trade represents a 44.75% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.26% of the company's stock.

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.