Praxis Investment Management Inc. Has $3.32 Million Stake in Schlumberger Limited (NYSE:SLB)

Praxis Investment Management Inc. lifted its holdings in shares of Schlumberger Limited (NYSE:SLB - Free Report) by 42.1% in the first quarter, according to its most recent filing with the SEC. The firm owned 79,486 shares of the oil and gas company's stock after acquiring an additional 23,550 shares during the period. Praxis Investment Management Inc.'s holdings in Schlumberger were worth $3,323,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Sound Income Strategies LLC lifted its holdings in Schlumberger by 265.4% during the 1st quarter. Sound Income Strategies LLC now owns 961 shares of the oil and gas company's stock valued at $40,000 after purchasing an additional 698 shares during the last quarter. True Wealth Design LLC lifted its holdings 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 purchasing an additional 842 shares during the last quarter. Mpwm Advisory Solutions LLC bought a new position in Schlumberger during the 4th quarter valued at about $40,000. J.Safra Asset Management Corp bought a new position in Schlumberger during the 4th quarter valued at about $46,000. Finally, Heck Capital Advisors LLC bought a new position in Schlumberger during the 4th quarter valued at about $47,000. 81.99% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the stock. Stifel Nicolaus cut their price target on shares of Schlumberger from $58.00 to $54.00 and set a "buy" rating for the company in a report on Monday, April 28th. Wells Fargo & Company lowered their price objective on shares of Schlumberger from $46.00 to $43.00 and set an "overweight" rating for the company in a research report on Thursday, June 5th. Piper Sandler lowered their price objective on shares of Schlumberger from $46.00 to $44.00 and set a "neutral" rating for the company in a research report on Tuesday, April 29th. Susquehanna lowered their price target on shares of Schlumberger from $48.00 to $46.00 and set a "positive" rating for the company in a research report on Monday, April 28th. Finally, Morgan Stanley lowered their price target on shares of Schlumberger from $50.00 to $45.00 and set an "overweight" rating for the company in a research report on Friday, May 16th. Four research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $52.38.

Insider Buying and Selling

In related news, insider Aparna Raman sold 25,133 shares of the company's stock in a transaction dated Friday, March 28th. The shares were sold at an average price of $42.28, for a total transaction of $1,062,623.24. Following the completion of the sale, the insider now owns 31,031 shares of the company's stock, valued at $1,311,990.68. This represents a 44.75% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director La Chevardiere Patrick De sold 5,000 shares of the company's 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 now directly owns 23,525 shares of the company's stock, valued at $789,969.50. This represents a 17.53% decrease in their position. The disclosure for this sale can be found here. 0.26% of the stock is owned by corporate insiders.

Schlumberger Stock Down 0.1%

Shares of SLB stock traded down $0.04 during trading on Friday, reaching $35.82. The company's stock had a trading volume of 29,993,139 shares, compared to its average volume of 13,603,827. The business has a fifty day moving average price of $34.54 and a 200-day moving average price of $38.08. The company has a quick ratio of 0.93, a current ratio of 1.24 and a debt-to-equity ratio of 0.51. The company has a market cap of $48.71 billion, a price-to-earnings ratio of 12.14, a price-to-earnings-growth ratio of 9.29 and a beta of 1.02. Schlumberger Limited has a one year low of $31.11 and a one year high of $50.94.

Schlumberger (NYSE:SLB - Get Free Report) last announced its quarterly earnings data on Friday, April 25th. The oil and gas company reported $0.72 EPS for the quarter, missing analysts' consensus estimates of $0.73 by ($0.01). The business had revenue of $8.49 billion during the quarter, compared to the consensus estimate 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 period in the prior year, the firm earned $0.75 EPS. Analysts anticipate that Schlumberger Limited will post 3.38 earnings per share for the current year.

Schlumberger Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 10th. Investors of record on Wednesday, June 4th will be issued 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 yield of 3.18%. Schlumberger's payout ratio is 38.64%.

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.