Montgomery Investment Management Inc. Purchases New Stake in Schlumberger Limited (NYSE:SLB)

Montgomery Investment Management Inc. bought a new stake in Schlumberger Limited (NYSE:SLB - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 9,940 shares of the oil and gas company's stock, valued at approximately $415,000.

Several other large investors also recently made changes to their positions in the stock. Norges Bank acquired a new position in Schlumberger in the 4th quarter valued at approximately $735,398,000. Price T Rowe Associates Inc. MD raised its holdings in shares of Schlumberger by 7.4% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 75,986,195 shares of the oil and gas company's stock worth $2,913,312,000 after buying an additional 5,225,828 shares in the last quarter. Lazard Asset Management LLC raised its holdings in shares of Schlumberger by 3,112.1% in the 4th quarter. Lazard Asset Management LLC now owns 3,627,051 shares of the oil and gas company's stock worth $139,059,000 after buying an additional 3,514,134 shares in the last quarter. Deutsche Bank AG grew its position in Schlumberger by 12.2% during the 4th quarter. Deutsche Bank AG now owns 28,737,703 shares of the oil and gas company's stock worth $1,101,804,000 after acquiring an additional 3,119,543 shares during the last quarter. Finally, Clearbridge Investments LLC grew its position in Schlumberger by 43,028.0% during the 4th quarter. Clearbridge Investments LLC now owns 2,652,804 shares of the oil and gas company's stock worth $101,708,000 after acquiring an additional 2,646,653 shares during the last quarter. Institutional investors own 81.99% of the company's stock.

Analyst Ratings Changes

SLB has been the topic of several recent research reports. Wells Fargo & Company lowered Schlumberger from a "strong-buy" rating to a "hold" rating in a research report on Sunday. Morgan Stanley reduced their target price on Schlumberger from $50.00 to $45.00 and set an "overweight" rating on the stock in a report on Friday, May 16th. Stifel Nicolaus dropped their price target on Schlumberger from $54.00 to $52.00 and set a "buy" rating on the stock in a research note on Wednesday, July 16th. Piper Sandler dropped their price target on Schlumberger from $44.00 to $42.00 and set a "neutral" rating on the stock in a research note on Friday, July 18th. Finally, UBS Group lifted their target price on Schlumberger from $44.00 to $45.00 and gave the company a "buy" rating in a research report on Wednesday, July 2nd. Four investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $49.28.

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. 0.26% of the stock is owned by company insiders.

Schlumberger Stock Down 0.2%

SLB traded down $0.07 on Thursday, hitting $35.07. The company had a trading volume of 3,277,771 shares, compared to its average volume of 16,742,199. 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 $49.31. The stock has a fifty day simple moving average of $34.76 and a 200-day simple moving average of $37.45. The firm has a market capitalization of $47.70 billion, a P/E ratio of 12.00, a P/E/G ratio of 9.45 and a beta of 1.01.

Schlumberger (NYSE:SLB - Get Free Report) last announced its earnings results on Friday, July 18th. The oil and gas company reported $0.74 earnings per share for the quarter, beating 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 the consensus estimate of $8.51 billion. During the same quarter last year, the firm earned $0.85 earnings per share. The business's revenue for the quarter was down 6.5% on a year-over-year basis. As a group, equities analysts expect that Schlumberger Limited will post 3.38 EPS for the current fiscal year.

Schlumberger Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 9th. Investors of record on Wednesday, September 3rd will be given a dividend of $0.285 per share. This represents a $1.14 annualized dividend and a dividend yield of 3.25%. The ex-dividend date of this dividend is Wednesday, September 3rd. Schlumberger's dividend payout ratio (DPR) is currently 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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