Schlumberger Limited (NYSE:SLB) Shares Sold by Romano Brothers AND Company

Romano Brothers AND Company decreased its holdings in shares of Schlumberger Limited (NYSE:SLB - Free Report) by 10.6% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 67,698 shares of the oil and gas company's stock after selling 8,052 shares during the quarter. Romano Brothers AND Company's holdings in Schlumberger were worth $2,830,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Brighton Jones LLC increased its position in Schlumberger by 21.4% during the fourth 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 during the last quarter. Caprock Group LLC grew its holdings in shares of Schlumberger by 11.6% during the 4th quarter. Caprock Group LLC now owns 29,802 shares of the oil and gas company's stock worth $1,151,000 after purchasing an additional 3,090 shares during the period. Heck Capital Advisors LLC acquired a new stake in shares of Schlumberger during the 4th quarter worth about $47,000. Tokio Marine Asset Management Co. Ltd. raised its holdings in Schlumberger by 0.5% in the 4th quarter. Tokio Marine Asset Management Co. Ltd. now owns 56,714 shares of the oil and gas company's stock valued at $2,174,000 after buying an additional 262 shares during the period. Finally, Spire Wealth Management raised its holdings in Schlumberger by 21.5% in the 4th quarter. Spire Wealth Management now owns 19,950 shares of the oil and gas company's stock valued at $765,000 after buying an additional 3,527 shares during the period. 81.99% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have weighed in on SLB. Piper Sandler dropped their price target 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. Morgan Stanley cut their target price on Schlumberger from $50.00 to $45.00 and set an "overweight" rating on the stock in a research report on Friday, May 16th. Wells Fargo & Company upgraded Schlumberger from an "equal weight" rating to an "overweight" rating and lowered their price target for the stock from $46.00 to $44.00 in a research report on Tuesday, April 8th. Susquehanna dropped their price objective on Schlumberger from $48.00 to $46.00 and set a "positive" rating for the company in a research note on Monday, April 28th. Finally, Stifel Nicolaus decreased their target price on Schlumberger from $58.00 to $54.00 and set a "buy" rating on the stock in a research note on Monday, April 28th. Five investment 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 company. Based on data from MarketBeat.com, Schlumberger currently has a consensus rating of "Moderate Buy" and an average price target of $52.44.

Insider Buying and Selling at Schlumberger

In related news, insider Aparna Raman sold 25,133 shares of the business's stock in a transaction on Friday, March 28th. The shares were sold at an average price of $42.28, for a total value of $1,062,623.24. Following the completion of the sale, the insider now directly owns 31,031 shares of the company's stock, valued at $1,311,990.68. The trade was a 44.75% decrease in their ownership of the stock. The sale was disclosed in a legal filing 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 stock was sold at an average price of $33.58, for a total value of $167,900.00. Following the transaction, the director now directly owns 23,525 shares in the company, valued at approximately $789,969.50. The trade was a 17.53% decrease in their position. The disclosure for this sale can be found here. 0.26% of the stock is currently owned by insiders.

Schlumberger Stock Down 2.5%

Shares of SLB traded down $0.85 during midday trading on Wednesday, reaching $33.26. The stock had a trading volume of 13,544,485 shares, compared to its average volume of 13,501,850. 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 company's fifty day simple moving average is $34.95 and its two-hundred day simple moving average is $38.85. The company has a market cap of $45.24 billion, a price-to-earnings ratio of 10.69, a PEG ratio of 10.10 and a beta of 1.06. Schlumberger Limited has a 1-year low of $31.11 and a 1-year high of $50.94.

Schlumberger (NYSE:SLB - Get Free Report) last announced its quarterly earnings results on Friday, April 25th. The oil and gas company reported $0.72 earnings per share (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 business had revenue of $8.49 billion for the quarter, compared to analysts' expectations of $8.64 billion. During the same period last year, the firm earned $0.75 earnings per share. The firm's quarterly revenue was down 2.5% on a year-over-year basis. Equities research analysts expect that Schlumberger Limited will post 3.38 earnings per share for the current year.

Schlumberger Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 10th. Investors of record on Wednesday, June 4th will be issued a $0.285 dividend. This represents a $1.14 dividend on an annualized basis and a yield of 3.43%. The ex-dividend date of this dividend is Wednesday, June 4th. Schlumberger's dividend payout ratio (DPR) is 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.