Maridea Wealth Management LLC Invests $435,000 in Schlumberger Limited (NYSE:SLB)

Key Points

• Maridea Wealth Management LLC has acquired a new stake in Schlumberger Limited, purchasing 10,398 shares worth approximately $435,000 in the first quarter.
• Schlumberger reported a quarterly earnings per share (EPS) of $0.74, surpassing analysts' expectations of $0.73, but experienced a revenue decline of 6.5% year-over-year.
• The company plans to pay a quarterly dividend of $0.285 per share on October 9th, representing an annualized yield of 3.17%.

Maridea Wealth Management LLC acquired a new stake in Schlumberger Limited (NYSE:SLB - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 10,398 shares of the oil and gas company's stock, valued at approximately $435,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Dynamic Technology Lab Private Ltd lifted its position in Schlumberger by 32.2% in the 4th quarter. Dynamic Technology Lab Private Ltd now owns 71,390 shares of the oil and gas company's stock valued at $2,737,000 after acquiring an additional 17,405 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Schlumberger by 4.8% during the 4th quarter. Geode Capital Management LLC now owns 29,985,360 shares of the oil and gas company's stock worth $1,146,195,000 after buying an additional 1,377,134 shares in the last quarter. Scharf Investments LLC lifted its position in shares of Schlumberger by 20.5% during the 1st quarter. Scharf Investments LLC now owns 1,653,895 shares of the oil and gas company's stock worth $69,133,000 after buying an additional 281,773 shares in the last quarter. Integrated Advisors Network LLC lifted its position in shares of Schlumberger by 810.4% during the 1st quarter. Integrated Advisors Network LLC now owns 75,163 shares of the oil and gas company's stock worth $3,142,000 after buying an additional 66,907 shares in the last quarter. Finally, Alan B Lancz & Associates Inc. bought a new position in shares of Schlumberger during the 1st quarter worth approximately $308,000. 81.99% of the stock is currently owned by institutional investors and hedge funds.

Schlumberger Stock Down 2.2%

SLB traded down $0.74 on Friday, hitting $33.06. The company had a trading volume of 9,691,199 shares, compared to its average volume of 16,685,205. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.31 and a quick ratio of 0.98. Schlumberger Limited has a 52-week low of $31.11 and a 52-week high of $46.16. The stock has a fifty day simple moving average of $34.79 and a 200-day simple moving average of $37.28. The firm has a market capitalization of $44.67 billion, a P/E ratio of 11.32, a P/E/G ratio of 9.48 and a beta of 1.01.

Schlumberger (NYSE:SLB - Get Free Report) last issued its quarterly earnings data on Friday, July 18th. The oil and gas company reported $0.74 EPS for the quarter, topping the consensus estimate 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 analyst estimates of $8.51 billion. During the same period last year, the business posted $0.85 earnings per share. Schlumberger's quarterly revenue was down 6.5% compared to the same quarter last year. As a group, equities analysts expect that Schlumberger Limited will post 3.38 EPS for the current fiscal year.

Schlumberger Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 9th. Shareholders of record on Wednesday, September 3rd will be paid a dividend of $0.285 per share. The ex-dividend date of this dividend is Wednesday, September 3rd. This represents a $1.14 dividend on an annualized basis and a dividend yield of 3.4%. Schlumberger's dividend payout ratio (DPR) is currently 39.04%.

Insider Buying and Selling at Schlumberger

In related news, Director La Chevardiere Patrick De sold 5,000 shares of the firm's stock in a transaction that occurred 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 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 at the SEC website. Corporate insiders own 0.26% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. Wells Fargo & Company downgraded Schlumberger from a "strong-buy" rating to a "hold" rating in a research note on Sunday, July 20th. Atb Cap Markets upgraded Schlumberger from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, July 1st. Susquehanna dropped their target price on Schlumberger from $44.00 to $42.00 and set a "positive" rating on the stock in a research report on Monday, July 21st. Piper Sandler dropped their target price on Schlumberger from $44.00 to $42.00 and set a "neutral" rating on the stock in a research report on Friday, July 18th. Finally, Stifel Nicolaus dropped their target price on Schlumberger from $54.00 to $52.00 and set a "buy" rating on the stock in a research report on Wednesday, July 16th. Four analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $49.28.

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.