RFG Advisory LLC Makes New Investment in Schlumberger Limited (NYSE:SLB)

RFG Advisory LLC purchased a new stake in shares of Schlumberger Limited (NYSE:SLB - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 23,883 shares of the oil and gas company's stock, valued at approximately $998,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Brighton Jones LLC increased its stake in shares of Schlumberger by 21.4% in the 4th quarter. Brighton Jones LLC now owns 6,611 shares of the oil and gas company's stock worth $253,000 after acquiring an additional 1,166 shares in the last quarter. Hager Investment Management Services LLC purchased a new position in shares of Schlumberger during the fourth quarter valued at approximately $38,000. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Schlumberger by 29.7% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 113,212 shares of the oil and gas company's stock worth $4,279,000 after purchasing an additional 25,911 shares in the last quarter. Tyche Wealth Partners LLC purchased a new stake in shares of Schlumberger in the 4th quarter worth approximately $274,000. Finally, YANKCOM Partnership bought a new position in Schlumberger during the 4th quarter valued at approximately $31,000. 81.99% of the stock is owned by hedge funds and other institutional investors.

Schlumberger Trading Down 0.5%

Shares of Schlumberger stock opened at $33.07 on Friday. Schlumberger Limited has a 1-year low of $31.11 and a 1-year high of $50.94. The company's fifty day simple moving average is $34.60 and its 200-day simple moving average is $38.74. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.45 and a quick ratio of 1.11. The stock has a market capitalization of $44.98 billion, a PE ratio of 10.63, a P/E/G ratio of 10.10 and a beta of 1.06.

Schlumberger (NYSE:SLB - Get Free Report) last announced its earnings results 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). Schlumberger had a return on equity of 21.90% and a net margin of 12.29%. The company had revenue of $8.49 billion during the quarter, compared to the consensus estimate of $8.64 billion. During the same period in the prior year, the business posted $0.75 earnings per share. Schlumberger's revenue for the quarter was down 2.5% compared to the same quarter last year. As a group, equities analysts anticipate that Schlumberger Limited will post 3.38 earnings per share for the current year.

Schlumberger Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 10th. Stockholders of record on Wednesday, June 4th will be given 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 3.45%. Schlumberger's payout ratio is currently 38.64%.

Insider Activity

In other news, insider Aparna Raman sold 25,133 shares of the firm's stock in a transaction on 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 sale, the insider now directly owns 31,031 shares in the company, valued at $1,311,990.68. This trade represents a 44.75% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director La Chevardiere Patrick De sold 5,000 shares of the firm's stock in a transaction dated Thursday, May 22nd. The shares were sold at an average price of $33.58, for a total value of $167,900.00. Following the sale, the director now directly owns 23,525 shares in the company, valued at approximately $789,969.50. This represents a 17.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.26% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the stock. Jefferies Financial Group dropped their price target on shares of Schlumberger from $60.00 to $59.00 and set a "buy" rating on the stock in a research note on Thursday, March 27th. Wells Fargo & Company decreased their target price on shares of Schlumberger from $46.00 to $43.00 and set an "overweight" rating for the company in a report on Thursday. 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. Morgan Stanley lowered their price target on Schlumberger from $50.00 to $45.00 and set an "overweight" rating on the stock in a report on Friday, May 16th. Finally, Stifel Nicolaus decreased their target price on Schlumberger from $58.00 to $54.00 and set a "buy" rating for the company in a research report on Monday, April 28th. Five analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $52.38.

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.

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