Ridgewood Investments LLC Acquires New Holdings in Schlumberger Limited $SLB

Key Points

• Ridgewood Investments LLC has purchased 23,706 shares of Schlumberger Limited valued at approximately $801,000, indicating increased institutional interest in the company.
• Analyst ratings show a consensus of "Moderate Buy" for Schlumberger, with a range of price targets from $42.00 to $82.00, reflecting mixed sentiments among research firms.
• Schlumberger has announced a quarterly dividend of $0.285 per share, offering a dividend yield of 3.3%, which is part of its strategy to return value to shareholders.

Ridgewood Investments LLC bought a new position in shares of Schlumberger Limited (NYSE:SLB - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 23,706 shares of the oil and gas company's stock, valued at approximately $801,000.

Several other institutional investors also recently modified their holdings of the stock. Brighton Jones LLC increased its holdings in 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 purchasing an additional 1,166 shares in the last quarter. Bison Wealth LLC bought a new stake in shares of Schlumberger during the fourth quarter worth about $238,000. Woodline Partners LP acquired a new position in shares of Schlumberger in the fourth quarter valued at approximately $3,251,000. Waverly Advisors LLC bought a new position in Schlumberger in the 4th quarter valued at approximately $479,000. Finally, Vise Technologies Inc. raised its holdings in Schlumberger by 95.1% in the 4th quarter. Vise Technologies Inc. now owns 17,004 shares of the oil and gas company's stock valued at $652,000 after buying an additional 8,289 shares during the last quarter. 81.99% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have weighed in on SLB. Melius Research initiated coverage on shares of Schlumberger in a report on Wednesday, August 20th. They set a "buy" rating and a $82.00 target price on the stock. Piper Sandler reduced their price objective on shares of Schlumberger from $44.00 to $42.00 and set a "neutral" rating on the stock in a research note on Friday, July 18th. Jefferies Financial Group decreased 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. Zacks Research raised Schlumberger from a "strong sell" rating to a "hold" rating in a report on Monday, September 15th. Finally, JPMorgan Chase & Co. reduced their price target on Schlumberger from $46.00 to $44.00 and set an "overweight" rating on the stock in a research report on Monday, June 30th. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $52.18.

Schlumberger Stock Down 0.8%

Shares of NYSE:SLB opened at $34.47 on Monday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.98 and a current ratio of 1.31. Schlumberger Limited has a 52-week low of $31.11 and a 52-week high of $46.15. The business's 50 day simple moving average is $34.66 and its two-hundred day simple moving average is $35.54. The firm has a market cap of $51.49 billion, a P/E ratio of 11.80, a PEG ratio of 9.56 and a beta of 1.05.

Schlumberger (NYSE:SLB - Get Free Report) last released its quarterly earnings data on Friday, July 18th. The oil and gas company reported $0.74 EPS for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $8.51 billion. During the same quarter in the previous year, the company posted $0.85 earnings per share. The company's quarterly revenue was down 6.5% on a year-over-year basis. As a group, research analysts forecast that Schlumberger Limited will post 3.38 EPS for the current fiscal year.

Schlumberger Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 9th. Shareholders of record on Wednesday, September 3rd will be paid a $0.285 dividend. This represents a $1.14 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date of this dividend is Wednesday, September 3rd. Schlumberger's dividend payout ratio (DPR) is 39.04%.

Insider Activity

In other news, insider Dianne B. Ralston sold 39,727 shares of Schlumberger stock in a transaction dated Friday, September 12th. The shares were sold at an average price of $36.08, for a total transaction of $1,433,350.16. Following the completion of the transaction, the insider directly owned 202,201 shares in the company, valued at $7,295,412.08. This trade represents a 16.42% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.22% of the stock is owned by corporate insiders.

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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