Perigon Wealth Management LLC Grows Stake in Schlumberger Limited (NYSE:SLB)

Perigon Wealth Management LLC boosted its position in shares of Schlumberger Limited (NYSE:SLB - Free Report) by 68.8% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 28,453 shares of the oil and gas company's stock after purchasing an additional 11,594 shares during the quarter. Perigon Wealth Management LLC's holdings in Schlumberger were worth $1,189,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Dynamic Technology Lab Private Ltd increased its holdings in Schlumberger by 32.2% during the 4th quarter. Dynamic Technology Lab Private Ltd now owns 71,390 shares of the oil and gas company's stock worth $2,737,000 after purchasing an additional 17,405 shares during the period. Geode Capital Management LLC boosted its position in Schlumberger by 4.8% during the 4th quarter. Geode Capital Management LLC now owns 29,985,360 shares of the oil and gas company's stock valued at $1,146,195,000 after acquiring an additional 1,377,134 shares in the last quarter. Scharf Investments LLC boosted its position in Schlumberger by 20.5% during the 1st quarter. Scharf Investments LLC now owns 1,653,895 shares of the oil and gas company's stock valued at $69,133,000 after acquiring an additional 281,773 shares in the last quarter. Integrated Advisors Network LLC boosted its position in Schlumberger by 810.4% during the 1st quarter. Integrated Advisors Network LLC now owns 75,163 shares of the oil and gas company's stock valued at $3,142,000 after acquiring an additional 66,907 shares in the last quarter. Finally, Miller Financial Services LLC bought a new stake in Schlumberger during the 4th quarter valued at $375,000. 81.99% of the stock is currently owned by hedge funds and other institutional investors.

Schlumberger Stock Performance

Shares of SLB opened at $34.01 on Friday. The stock has a 50-day moving average of $34.46 and a two-hundred day moving average of $37.82. Schlumberger Limited has a one year low of $31.11 and a one year 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 stock has a market cap of $46.26 billion, a P/E ratio of 11.53, a P/E/G ratio of 8.86 and a beta of 1.01.

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

Schlumberger Dividend Announcement

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

Insider Buying and Selling at Schlumberger

In related 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 value of $167,900.00. Following the completion of the transaction, the director now owns 23,525 shares in the company, valued at $789,969.50. The trade was a 17.53% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.26% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on SLB. Barclays dropped their target price on Schlumberger from $53.00 to $48.00 and set an "overweight" rating on the stock in a research report on Friday, April 25th. Piper Sandler dropped their target price on Schlumberger from $46.00 to $44.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 29th. Susquehanna dropped their target price on Schlumberger from $48.00 to $46.00 and set a "positive" rating on the stock in a research report on Monday, April 28th. Stifel Nicolaus lowered their price objective on Schlumberger from $58.00 to $54.00 and set a "buy" rating for the company in a research report on Monday, April 28th. Finally, Jefferies Financial Group lowered their price objective on Schlumberger from $54.00 to $53.00 and set a "buy" rating for the company in a research report on Thursday. Four equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $52.03.

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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