Gradient Investments LLC Has $30.78 Million Stake in Schlumberger Limited (NYSE:SLB)

Gradient Investments LLC grew its stake in shares of Schlumberger Limited (NYSE:SLB - Free Report) by 6.9% in the first quarter, according to its most recent filing with the SEC. The fund owned 736,393 shares of the oil and gas company's stock after acquiring an additional 47,724 shares during the period. Gradient Investments LLC owned about 0.05% of Schlumberger worth $30,781,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of SLB. YANKCOM Partnership acquired a new stake in shares of Schlumberger during the 4th quarter valued at $31,000. Stonebridge Financial Group LLC purchased a new stake in shares of Schlumberger in the fourth quarter valued at $32,000. Golden State Wealth Management LLC purchased a new stake in shares of Schlumberger in the fourth quarter valued at $34,000. Hager Investment Management Services LLC purchased a new stake in shares of Schlumberger in the fourth quarter valued at $38,000. Finally, True Wealth Design LLC lifted its holdings in shares of Schlumberger by 584.7% in the fourth quarter. True Wealth Design LLC now owns 986 shares of the oil and gas company's stock valued at $38,000 after purchasing an additional 842 shares in the last quarter. Institutional investors and hedge funds own 81.99% of the company's stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. Morgan Stanley reduced their target price on Schlumberger from $50.00 to $45.00 and set an "overweight" rating for the company in a report on Friday, May 16th. Wells Fargo & Company upgraded Schlumberger from an "equal weight" rating to an "overweight" rating and reduced their target price for the company from $46.00 to $44.00 in a report on Tuesday, April 8th. Piper Sandler reduced their target price on Schlumberger from $46.00 to $44.00 and set a "neutral" rating for the company in a report on Tuesday, April 29th. Susquehanna dropped their price target on shares of Schlumberger from $48.00 to $46.00 and set a "positive" rating on the stock in a research note on Monday, April 28th. Finally, Stifel Nicolaus dropped their price target on shares of 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 given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $52.44.

Schlumberger Stock Performance

Shares of NYSE:SLB traded up $0.76 during midday trading on Tuesday, hitting $34.10. The company's stock had a trading volume of 16,171,749 shares, compared to its average volume of 13,501,674. The stock has a market capitalization of $46.38 billion, a price-to-earnings ratio of 10.96, a PEG ratio of 10.10 and a beta of 1.06. The stock's 50 day simple moving average is $35.11 and its 200 day simple moving average is $38.88. Schlumberger Limited has a fifty-two week low of $31.11 and a fifty-two week high of $50.94. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.11 and a current ratio of 1.45.

Schlumberger (NYSE:SLB - Get Free Report) last issued its quarterly earnings results on Friday, April 25th. The oil and gas company reported $0.72 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.73 by ($0.01). The business had revenue of $8.49 billion during 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 company's revenue for the quarter was down 2.5% compared to the same quarter last year. During the same period in the prior year, the business posted $0.75 earnings per share. As a group, research analysts anticipate that Schlumberger Limited will post 3.38 earnings per share for the current year.

Schlumberger Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 10th. Investors of record on Wednesday, June 4th will be paid a $0.285 dividend. This represents a $1.14 annualized dividend and a dividend yield of 3.34%. The ex-dividend date is Wednesday, June 4th. Schlumberger's payout ratio is presently 38.64%.

Insider Activity at Schlumberger

In related news, Director La Chevardiere Patrick De sold 5,000 shares of the stock in a transaction dated 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 now owns 23,525 shares in the company, valued at approximately $789,969.50. This trade represents a 17.53% 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, insider Aparna Raman sold 25,133 shares of the firm's stock in a transaction dated Friday, March 28th. The stock was sold at an average price of $42.28, for a total transaction of $1,062,623.24. Following the transaction, the insider now owns 31,031 shares of the company's stock, valued at approximately $1,311,990.68. This represents a 44.75% decrease in their position. The disclosure for this sale can be found here. 0.26% of the stock is owned by corporate insiders.

Schlumberger 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.