Pallas Capital Advisors LLC Purchases 13,873 Shares of Schlumberger Limited (NYSE:SLB)

Pallas Capital Advisors LLC boosted its holdings in shares of Schlumberger Limited (NYSE:SLB - Free Report) by 246.4% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 19,503 shares of the oil and gas company's stock after purchasing an additional 13,873 shares during the quarter. Pallas Capital Advisors LLC's holdings in Schlumberger were worth $815,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Price T Rowe Associates Inc. MD increased its holdings in Schlumberger by 7.4% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 75,986,195 shares of the oil and gas company's stock worth $2,913,312,000 after purchasing an additional 5,225,828 shares during the last quarter. Geode Capital Management LLC increased its holdings in Schlumberger by 4.8% during the 4th quarter. Geode Capital Management LLC now owns 29,985,360 shares of the oil and gas company's stock worth $1,146,195,000 after purchasing an additional 1,377,134 shares during the last quarter. Deutsche Bank AG increased its holdings in shares of Schlumberger by 12.2% in the 4th quarter. Deutsche Bank AG now owns 28,737,703 shares of the oil and gas company's stock valued at $1,101,804,000 after acquiring an additional 3,119,543 shares during the last quarter. First Eagle Investment Management LLC increased its holdings in shares of Schlumberger by 1.2% in the 4th quarter. First Eagle Investment Management LLC now owns 27,836,555 shares of the oil and gas company's stock valued at $1,067,254,000 after acquiring an additional 343,261 shares during the last quarter. Finally, Norges Bank bought a new stake in shares of Schlumberger in the 4th quarter valued at approximately $735,398,000. 81.99% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Schlumberger

In other news, 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 completion of the sale, the director now owns 23,525 shares in the company, valued at approximately $789,969.50. This represents a 17.53% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Aparna Raman sold 25,133 shares of the company's stock in a transaction that occurred 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 transaction, the insider now directly owns 31,031 shares of the company's stock, valued at approximately $1,311,990.68. This trade represents a 44.75% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.26% of the company's stock.

Schlumberger Stock Performance

SLB stock traded down $0.07 during trading on Thursday, reaching $35.62. 10,042,952 shares of the company's stock were exchanged, compared to its average volume of 13,528,738. The company's fifty day moving average price is $34.27 and its 200-day moving average price is $38.43. The firm has a market cap of $48.45 billion, a PE ratio of 11.45, a P/E/G ratio of 10.10 and a beta of 1.01. The company has a quick ratio of 1.11, a current ratio of 1.45 and a debt-to-equity ratio of 0.49. 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 posted its quarterly earnings results on Friday, April 25th. The oil and gas company reported $0.72 earnings per share for the quarter, missing the consensus estimate of $0.73 by ($0.01). The business had revenue of $8.49 billion for the quarter, compared to analyst estimates of $8.64 billion. Schlumberger had a net margin of 12.29% and a return on equity of 21.90%. The firm's quarterly revenue was down 2.5% on a year-over-year basis. During the same period in the previous year, the firm posted $0.75 earnings per share. On average, research analysts expect that Schlumberger Limited will post 3.38 EPS for the current fiscal year.

Schlumberger Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 10th. Shareholders of record on Wednesday, June 4th will be paid a $0.285 dividend. The ex-dividend date is Wednesday, June 4th. This represents a $1.14 dividend on an annualized basis and a yield of 3.20%. Schlumberger's dividend payout ratio (DPR) is currently 38.64%.

Analyst Ratings Changes

A number of brokerages have recently weighed in on SLB. Wells Fargo & Company lowered their price target on Schlumberger from $46.00 to $43.00 and set an "overweight" rating for the company in a report on Thursday, June 5th. Piper Sandler lowered their price target on Schlumberger from $46.00 to $44.00 and set a "neutral" rating for the company in a report on Tuesday, April 29th. Jefferies Financial Group lowered their price target on Schlumberger from $60.00 to $59.00 and set a "buy" rating for the company in a report on Thursday, March 27th. Stifel Nicolaus lowered their price target on Schlumberger from $58.00 to $54.00 and set a "buy" rating for the company in a report on Monday, April 28th. Finally, Barclays lowered their price target on Schlumberger from $53.00 to $48.00 and set an "overweight" rating for the company in a report on Friday, April 25th. Four investment 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 stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $52.38.

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.