Moran Wealth Management LLC cut its holdings in shares of Schlumberger Limited (NYSE:SLB - Free Report) by 74.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 78,607 shares of the oil and gas company's stock after selling 228,523 shares during the period. Moran Wealth Management LLC's holdings in Schlumberger were worth $3,286,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Norges Bank bought a new stake in Schlumberger in the 4th quarter worth about $735,398,000. Price T Rowe Associates Inc. MD boosted its stake in Schlumberger by 7.4% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 75,986,195 shares of the oil and gas company's stock valued at $2,913,312,000 after acquiring an additional 5,225,828 shares during the last quarter. Lazard Asset Management LLC boosted its stake in Schlumberger by 3,112.1% in the fourth quarter. Lazard Asset Management LLC now owns 3,627,051 shares of the oil and gas company's stock valued at $139,059,000 after acquiring an additional 3,514,134 shares during the last quarter. Deutsche Bank AG boosted its stake in Schlumberger by 12.2% in the fourth quarter. Deutsche Bank AG now owns 28,737,703 shares of the oil and gas company's stock valued at $1,101,804,000 after acquiring an additional 3,119,543 shares during the last quarter. Finally, Clearbridge Investments LLC boosted its stake in Schlumberger by 43,028.0% in the fourth quarter. Clearbridge Investments LLC now owns 2,652,804 shares of the oil and gas company's stock valued at $101,708,000 after acquiring an additional 2,646,653 shares during the last quarter. 81.99% of the stock is currently owned by hedge funds and other institutional investors.
Schlumberger Price Performance
NYSE SLB traded up $0.18 on Friday, hitting $34.01. The stock had a trading volume of 17,164,745 shares, compared to its average volume of 13,701,047. Schlumberger Limited has a 52-week low of $31.11 and a 52-week high of $50.94. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.93 and a current ratio of 1.24. The company has a market capitalization of $46.26 billion, a price-to-earnings ratio of 11.53, a price-to-earnings-growth ratio of 8.86 and a beta of 1.02. The firm has a 50-day moving average of $34.46 and a 200-day moving average of $37.79.
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 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 21.76% and a net margin of 11.62%. The business's revenue for the quarter was down 2.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.75 earnings per share. Equities analysts expect 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. Stockholders of record on Wednesday, June 4th will be issued a $0.285 dividend. 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 payout ratio is 38.64%.
Insider Transactions at Schlumberger
In other news, Director La Chevardiere Patrick De sold 5,000 shares of the 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 now owns 23,525 shares of the company's stock, valued at $789,969.50. This represents a 17.53% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.26% of the company's stock.
Wall Street Analysts Forecast Growth
A number of research analysts have weighed in on SLB shares. Piper Sandler dropped their target price on shares of Schlumberger from $46.00 to $44.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 29th. Morgan Stanley dropped their target price on shares of Schlumberger from $50.00 to $45.00 and set an "overweight" rating on the stock in a research note on Friday, May 16th. Jefferies Financial Group dropped their target price on shares of Schlumberger from $54.00 to $53.00 and set a "buy" rating on the stock in a research note on Thursday. Susquehanna dropped their price target on shares of Schlumberger from $48.00 to $46.00 and set a "positive" rating on the stock in a research note on Monday, April 28th. Finally, Stifel Nicolaus dropped their price target on shares of Schlumberger from $58.00 to $54.00 and set a "buy" rating on the stock in a research note on Monday, April 28th. Four research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $52.03.
Read Our Latest Report on Schlumberger
Schlumberger Profile
(
Free Report)
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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