Mirae Asset Global Investments Co. Ltd. Raises Holdings in Schlumberger Limited (NYSE:SLB)

Mirae Asset Global Investments Co. Ltd. increased its position in shares of Schlumberger Limited (NYSE:SLB - Free Report) by 1,047.2% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,298,756 shares of the oil and gas company's stock after purchasing an additional 1,185,544 shares during the quarter. Mirae Asset Global Investments Co. Ltd. owned 0.10% of Schlumberger worth $54,392,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of SLB. Alpine Bank Wealth Management acquired a new position in Schlumberger during the first quarter valued at $34,000. True Wealth Design LLC boosted its position 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 worth $38,000 after purchasing an additional 842 shares in the last quarter. Mpwm Advisory Solutions LLC purchased a new stake in Schlumberger in the 4th quarter worth approximately $40,000. Sound Income Strategies LLC boosted its position in Schlumberger by 265.4% in the 1st quarter. Sound Income Strategies LLC now owns 961 shares of the oil and gas company's stock worth $40,000 after purchasing an additional 698 shares in the last quarter. Finally, J.Safra Asset Management Corp acquired a new position in shares of Schlumberger in the 4th quarter valued at $46,000. Institutional investors and hedge funds own 81.99% of the company's stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the company. Morgan Stanley reduced their target price on Schlumberger from $50.00 to $45.00 and set an "overweight" rating for the company in a research note on Friday, May 16th. Jefferies Financial Group reduced their price objective on shares of Schlumberger from $54.00 to $53.00 and set a "buy" rating for the company in a research report on Thursday. 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, June 5th. Susquehanna reduced their target price on Schlumberger from $48.00 to $46.00 and set a "positive" rating for the company in a report on Monday, April 28th. Finally, Piper Sandler reduced their target price on Schlumberger from $46.00 to $44.00 and set a "neutral" rating for the company in a report on Tuesday, April 29th. Four analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, Schlumberger presently has a consensus rating of "Moderate Buy" and an average price target of $52.03.

Schlumberger Trading Up 0.5%

Schlumberger stock traded up $0.18 during midday trading on Friday, hitting $34.01. 17,164,745 shares of the stock were exchanged, compared to its average volume of 13,702,802. The stock's 50-day simple moving average is $34.46 and its 200 day simple moving average is $37.84. The stock has a market capitalization of $46.26 billion, a price-to-earnings ratio of 11.53, a PEG ratio of 8.82 and a beta of 1.01. The company has a current ratio of 1.24, a quick ratio of 0.93 and a debt-to-equity ratio of 0.51. Schlumberger Limited has a fifty-two week low of $31.11 and a fifty-two week high of $50.94.

Schlumberger (NYSE:SLB - Get Free Report) last posted its 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 for the quarter, compared to analyst estimates of $8.64 billion. Schlumberger had a return on equity of 21.76% and a net margin of 11.62%. Schlumberger's revenue was down 2.5% compared to the same quarter last year. During the same period last year, the business earned $0.75 EPS. On average, equities analysts anticipate that Schlumberger Limited will post 3.38 EPS for the current year.

Schlumberger Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 10th. Shareholders of record on Wednesday, June 4th will be given a dividend of $0.285 per share. This represents a $1.14 dividend on an annualized basis and a dividend yield of 3.35%. The ex-dividend date is Wednesday, June 4th. Schlumberger's dividend payout ratio is presently 38.64%.

Insider Buying and Selling at Schlumberger

In other news, Director La Chevardiere Patrick De sold 5,000 shares of Schlumberger stock in a transaction on Thursday, May 22nd. The stock was sold at an average price of $33.58, for a total value 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.26% of the company's stock.

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.