12,729 Shares in Schlumberger Limited (NYSE:SLB) Purchased by Morningstar Investment Management LLC

Key Points

• Morningstar Investment Management LLC acquired a new stake in Schlumberger Limited, purchasing 12,729 shares valued at approximately $532,000 in the first quarter.
• Schlumberger recently announced a quarterly dividend of $0.285, which will be paid on October 9th, representing an annualized yield of 3.17%.
• Despite reporting a 6.5% decline in quarterly revenue year-over-year, Schlumberger beat analysts' earnings estimates with an EPS of $0.74, exceeding expectations of $0.73.

Morningstar Investment Management LLC bought a new position in shares of Schlumberger Limited (NYSE:SLB - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 12,729 shares of the oil and gas company's stock, valued at approximately $532,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. First Command Advisory Services Inc. boosted its holdings in Schlumberger by 300.0% in the first quarter. First Command Advisory Services Inc. now owns 636 shares of the oil and gas company's stock valued at $27,000 after purchasing an additional 477 shares during the period. Alpine Bank Wealth Management purchased a new stake in Schlumberger during the 1st quarter valued at approximately $34,000. True Wealth Design LLC raised its stake in Schlumberger by 584.7% during the 4th quarter. True Wealth Design LLC now owns 986 shares of the oil and gas company's stock valued at $38,000 after acquiring an additional 842 shares during the last quarter. Park Square Financial Group LLC purchased a new stake in Schlumberger during the 1st quarter valued at approximately $38,000. Finally, Mpwm Advisory Solutions LLC acquired a new position in Schlumberger during the 4th quarter worth approximately $40,000. Institutional investors and hedge funds own 81.99% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on SLB shares. Stifel Nicolaus lowered their price target on Schlumberger from $54.00 to $52.00 and set a "buy" rating on the stock in a report on Wednesday, July 16th. Atb Cap Markets upgraded Schlumberger from a "hold" rating to a "strong-buy" rating in a report on Tuesday, July 1st. Jefferies Financial Group lowered their price target on Schlumberger from $54.00 to $53.00 and set a "buy" rating on the stock in a report on Thursday, June 26th. Piper Sandler lowered their price target on Schlumberger from $44.00 to $42.00 and set a "neutral" rating on the stock in a report on Friday, July 18th. Finally, Barclays lowered their price target on Schlumberger from $47.00 to $46.00 and set an "overweight" rating on the stock in a report on Monday, July 21st. Four investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, Schlumberger currently has an average rating of "Moderate Buy" and an average price target of $49.28.

Insider Activity

In other news, Director La Chevardiere Patrick De sold 5,000 shares of Schlumberger stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $33.58, for a total transaction of $167,900.00. Following the sale, the director directly owned 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 legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.26% of the company's stock.

Schlumberger Trading Down 2.1%

Shares of Schlumberger stock traded down $0.71 during trading hours on Friday, reaching $33.10. 11,016,473 shares of the company's stock were exchanged, compared to its average volume of 16,695,559. Schlumberger Limited has a 52-week low of $31.11 and a 52-week high of $46.16. The firm has a market capitalization of $44.72 billion, a price-to-earnings ratio of 11.34, a price-to-earnings-growth ratio of 9.48 and a beta of 1.01. The company has a current ratio of 1.31, a quick ratio of 0.98 and a debt-to-equity ratio of 0.51. The company has a fifty day moving average of $34.79 and a 200-day moving average of $37.28.

Schlumberger (NYSE:SLB - Get Free Report) last issued 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 return on equity of 20.99% and a net margin of 11.53%. The firm had revenue of $8.55 billion for the quarter, compared to analysts' expectations of $8.51 billion. During the same quarter last year, the firm earned $0.85 earnings per share. The firm's revenue for the quarter was down 6.5% compared to the same quarter last year. Sell-side analysts forecast that Schlumberger Limited will post 3.38 EPS for the current fiscal year.

Schlumberger Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 9th. Stockholders of record on Wednesday, September 3rd 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 3.4%. The ex-dividend date of this dividend is Wednesday, September 3rd. Schlumberger's payout ratio is presently 39.04%.

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.