Ninety One UK Ltd Acquires New Shares in Schlumberger Limited (NYSE:SLB)

Ninety One UK Ltd bought a new position in shares of Schlumberger Limited (NYSE:SLB - Free Report) during the first quarter, according to its most recent filing with the SEC. The fund bought 356,767 shares of the oil and gas company's stock, valued at approximately $14,913,000.

A number of other hedge funds also recently made changes to their positions in SLB. Alpha Cubed Investments LLC raised its stake in Schlumberger by 38.6% in the 1st quarter. Alpha Cubed Investments LLC now owns 284,039 shares of the oil and gas company's stock valued at $11,873,000 after acquiring an additional 79,034 shares during the period. Crossmark Global Holdings Inc. raised its stake in Schlumberger by 1.4% in the 1st quarter. Crossmark Global Holdings Inc. now owns 223,577 shares of the oil and gas company's stock valued at $9,345,000 after acquiring an additional 3,123 shares during the period. U.S. Capital Wealth Advisors LLC raised its stake in Schlumberger by 13.8% in the 1st quarter. U.S. Capital Wealth Advisors LLC now owns 164,196 shares of the oil and gas company's stock valued at $6,863,000 after acquiring an additional 19,912 shares during the period. Raleigh Capital Management Inc. raised its stake in Schlumberger by 91.3% in the 1st quarter. Raleigh Capital Management Inc. now owns 4,464 shares of the oil and gas company's stock valued at $187,000 after acquiring an additional 2,130 shares during the period. Finally, Capital Advisors Inc. OK raised its stake in Schlumberger by 30.5% in the 1st quarter. Capital Advisors Inc. OK now owns 859,197 shares of the oil and gas company's stock valued at $35,914,000 after acquiring an additional 200,788 shares during the period. 81.99% of the stock is currently owned by institutional investors.

Insider Activity 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 stock was sold at an average price of $33.58, for a total value 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. This represents a 17.53% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.26% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on SLB shares. Wells Fargo & Company lowered their price objective on Schlumberger from $46.00 to $43.00 and set an "overweight" rating on the stock in a research note on Thursday, June 5th. 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. UBS Group lifted their target price on Schlumberger from $44.00 to $45.00 and gave the company a "buy" rating in a report on Wednesday, July 2nd. JPMorgan Chase & Co. reduced their target price on Schlumberger from $46.00 to $44.00 and set an "overweight" rating for the company in a report on Monday, June 30th. Finally, Jefferies Financial Group cut their price objective on Schlumberger from $54.00 to $53.00 and set a "buy" rating for the company in a report on Thursday, June 26th. Three equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat.com, Schlumberger presently has an average rating of "Moderate Buy" and an average price target of $50.85.

Schlumberger Stock Down 0.8%

SLB stock traded down $0.29 during midday trading on Wednesday, hitting $36.25. The stock had a trading volume of 11,429,859 shares, compared to its average volume of 13,805,782. The firm has a market cap of $49.31 billion, a price-to-earnings ratio of 12.29, a price-to-earnings-growth ratio of 9.20 and a beta of 1.01. The business has a 50-day moving average of $34.60 and a two-hundred day moving average of $37.65. 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 current ratio of 1.24 and a quick ratio of 0.93.

Schlumberger (NYSE:SLB - Get Free Report) last issued its quarterly earnings results on Friday, April 25th. The oil and gas company reported $0.72 earnings per share for the quarter, missing the consensus estimate of $0.73 by ($0.01). Schlumberger had a return on equity of 21.76% and a net margin of 11.62%. The firm had revenue of $8.49 billion during the quarter, compared to analysts' expectations of $8.64 billion. During the same period in the previous year, the company earned $0.75 earnings per share. Schlumberger's revenue for the quarter was down 2.5% on a year-over-year basis. As a group, equities research analysts forecast that Schlumberger Limited will post 3.38 earnings per share for the current fiscal year.

Schlumberger Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 10th. Stockholders of record on Wednesday, June 4th will be paid a $0.285 dividend. The ex-dividend date is Wednesday, June 4th. This represents a $1.14 dividend on an annualized basis and a dividend yield of 3.14%. Schlumberger's dividend payout ratio is currently 38.64%.

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.