Black Cypress Capital Management LLC Has $8.27 Million Holdings in Schlumberger Limited $SLB

Key Points

• Black Cypress Capital Management LLC increased its position in Schlumberger Limited by 11.6%, making it the firm's 5th largest position with holdings worth approximately $8.27 million.
• Schlumberger reported $0.74 earnings per share (EPS) for the most recent quarter, surpassing estimates, despite a 6.5% revenue decline year-over-year.
• The company announced a quarterly dividend of $0.285, resulting in an annualized yield of 3.4%, with a payout ratio of 39.04%.

Black Cypress Capital Management LLC increased its position in Schlumberger Limited (NYSE:SLB - Free Report) by 11.6% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 197,798 shares of the oil and gas company's stock after purchasing an additional 20,583 shares during the period. Schlumberger makes up approximately 7.5% of Black Cypress Capital Management LLC's holdings, making the stock its 5th biggest position. Black Cypress Capital Management LLC's holdings in Schlumberger were worth $8,268,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Brighton Jones LLC increased its position in shares of Schlumberger by 21.4% during the fourth quarter. Brighton Jones LLC now owns 6,611 shares of the oil and gas company's stock valued at $253,000 after acquiring an additional 1,166 shares in the last quarter. Mariner LLC lifted its position in Schlumberger by 1.0% in the 4th quarter. Mariner LLC now owns 295,864 shares of the oil and gas company's stock valued at $11,343,000 after acquiring an additional 2,794 shares in the last quarter. CreativeOne Wealth LLC boosted its stake in Schlumberger by 8.2% during the 4th quarter. CreativeOne Wealth LLC now owns 5,320 shares of the oil and gas company's stock valued at $204,000 after purchasing an additional 405 shares during the last quarter. Gamco Investors INC. ET AL increased its holdings in shares of Schlumberger by 3.5% in the 4th quarter. Gamco Investors INC. ET AL now owns 205,432 shares of the oil and gas company's stock worth $7,876,000 after purchasing an additional 6,923 shares in the last quarter. Finally, Evergreen Capital Management LLC increased its holdings in shares of Schlumberger by 1.0% in the 4th quarter. Evergreen Capital Management LLC now owns 93,825 shares of the oil and gas company's stock worth $3,623,000 after purchasing an additional 892 shares in the last quarter. 81.99% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on SLB. Melius Research started coverage on Schlumberger in a report on Wednesday. They set a "buy" rating and a $82.00 price target on the stock. Melius started coverage on Schlumberger in a research report on Wednesday. They issued a "buy" rating and a $82.00 target price for the company. UBS Group lowered their target price on shares of Schlumberger from $45.00 to $44.00 and set a "buy" rating on the stock in a research note on Wednesday. Piper Sandler dropped their price target on shares of Schlumberger from $44.00 to $42.00 and set a "neutral" rating on the stock in a report on Friday, July 18th. Finally, Jefferies Financial Group reduced their price target on shares of Schlumberger from $54.00 to $53.00 and set a "buy" rating for the company in a research note on Thursday, June 26th. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $52.86.

Insider Activity

In related news, Director La Chevardiere Patrick De sold 5,000 shares of the stock in a transaction that occurred on Thursday, May 22nd. The shares were sold at an average price of $33.58, for a total value of $167,900.00. Following the completion of the sale, the director directly owned 23,525 shares of the company's stock, 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 link. Company insiders own 0.26% of the company's stock.

Schlumberger Stock Performance

Shares of Schlumberger stock traded up $0.01 on Wednesday, hitting $33.35. 9,917,527 shares of the company's stock were exchanged, compared to its average volume of 12,986,314. Schlumberger Limited has a 1 year low of $31.11 and a 1 year high of $46.16. The company has a 50-day simple moving average of $34.56 and a 200-day simple moving average of $36.44. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.98 and a current ratio of 1.31. The stock has a market capitalization of $45.06 billion, a PE ratio of 11.42, a PEG ratio of 9.25 and a beta of 1.03.

Schlumberger (NYSE:SLB - Get Free Report) last announced its earnings results on Friday, July 18th. The oil and gas company reported $0.74 EPS for the quarter, topping analysts' consensus estimates of $0.73 by $0.01. The company had revenue of $8.55 billion for the quarter, compared to analysts' expectations of $8.51 billion. Schlumberger had a return on equity of 20.99% and a net margin of 11.53%.Schlumberger's revenue for the quarter was down 6.5% compared to the same quarter last year. During the same period last year, the firm earned $0.85 EPS. As a group, equities analysts anticipate that Schlumberger Limited will post 3.38 EPS for the current year.

Schlumberger Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 9th. Stockholders of record on Wednesday, September 3rd will be given a dividend of $0.285 per share. This represents a $1.14 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date of this dividend is Wednesday, September 3rd. Schlumberger's payout ratio is presently 39.04%.

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.