Riverwater Partners LLC Takes Position in Schlumberger Limited (NYSE:SLB)

Riverwater Partners LLC purchased a new position in shares of Schlumberger Limited (NYSE:SLB - Free Report) during the first quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 8,413 shares of the oil and gas company's stock, valued at approximately $352,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in SLB. TCW Group Inc. increased its stake in Schlumberger by 1.3% during the 4th quarter. TCW Group Inc. now owns 19,797 shares of the oil and gas company's stock valued at $759,000 after purchasing an additional 259 shares in the last quarter. Vident Advisory LLC increased its holdings in Schlumberger by 1.0% during the 4th quarter. Vident Advisory LLC now owns 27,838 shares of the oil and gas company's stock worth $1,067,000 after purchasing an additional 273 shares in the last quarter. Glen Eagle Advisors LLC raised its stake in shares of Schlumberger by 3.7% in the fourth quarter. Glen Eagle Advisors LLC now owns 7,843 shares of the oil and gas company's stock worth $301,000 after purchasing an additional 282 shares during the last quarter. Cromwell Holdings LLC lifted its holdings in shares of Schlumberger by 7.0% in the fourth quarter. Cromwell Holdings LLC now owns 4,350 shares of the oil and gas company's stock valued at $167,000 after purchasing an additional 283 shares in the last quarter. Finally, Pinnacle Financial Partners Inc boosted its position in shares of Schlumberger by 0.5% during the fourth quarter. Pinnacle Financial Partners Inc now owns 67,161 shares of the oil and gas company's stock valued at $2,774,000 after buying an additional 309 shares during the last quarter. Institutional investors own 81.99% of the company's stock.

Insiders Place Their Bets

In other news, insider Aparna Raman sold 25,133 shares of Schlumberger stock in a transaction dated Friday, March 28th. The stock was sold at an average price of $42.28, for a total value of $1,062,623.24. Following the transaction, the insider now owns 31,031 shares in the company, valued at approximately $1,311,990.68. The trade was a 44.75% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director La Chevardiere Patrick De sold 5,000 shares of the stock in a transaction on Thursday, May 22nd. The shares were 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. The trade was a 17.53% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.26% of the company's stock.

Analyst Ratings Changes

Several equities analysts have weighed in on SLB shares. Wells Fargo & Company dropped 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 dropped their price target on shares of Schlumberger from $46.00 to $44.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 29th. Morgan Stanley reduced their price objective 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. Stifel Nicolaus dropped their target price on shares of Schlumberger from $58.00 to $54.00 and set a "buy" rating on the stock in a research report on Monday, April 28th. Finally, Susquehanna decreased their price target on Schlumberger from $48.00 to $46.00 and set a "positive" rating for the company in a research report on Monday, April 28th. Four investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $52.38.

Schlumberger Stock Down 0.6%

Schlumberger stock opened at $35.85 on Friday. The firm has a 50 day simple moving average of $34.50 and a 200 day simple moving average of $38.17. The company has a current ratio of 1.24, a quick ratio of 0.93 and a debt-to-equity ratio of 0.51. Schlumberger Limited has a 1-year low of $31.11 and a 1-year high of $50.94. The firm has a market capitalization of $48.76 billion, a price-to-earnings ratio of 12.15, a P/E/G ratio of 9.29 and a beta of 1.01.

Schlumberger (NYSE:SLB - Get Free Report) last posted its earnings results 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). Schlumberger had a net margin of 11.62% and a return on equity of 21.76%. The company had revenue of $8.49 billion for the quarter, compared to analysts' expectations of $8.64 billion. During the same period in the previous year, the firm earned $0.75 EPS. The firm's quarterly revenue was down 2.5% compared to the same quarter last year. On average, analysts predict that Schlumberger Limited will post 3.38 earnings per share for the current year.

Schlumberger Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 10th. Shareholders 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 annualized dividend and a yield of 3.18%. Schlumberger's payout ratio is presently 38.64%.

Schlumberger Company 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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