Schlumberger Limited (NYSE:SLB) Shares Purchased by Commonwealth Equity Services LLC

Key Points

• Commonwealth Equity Services LLC increased its stake in Schlumberger by 17.0%, acquiring an additional 59,099 shares, bringing their total holdings to 407,388 shares valued at approximately $17.03 million.
• Schlumberger reported $0.74 earnings per share for the quarter, exceeding analysts' expectations of $0.73, despite a 6.5% decline in revenue year-over-year.
• The company recently announced a quarterly dividend of $0.285, yielding 3.5%, with the payout scheduled for October 9th to investors of record on September 3rd.

Commonwealth Equity Services LLC lifted its position in Schlumberger Limited (NYSE:SLB - Free Report) by 17.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 407,388 shares of the oil and gas company's stock after buying an additional 59,099 shares during the quarter. Commonwealth Equity Services LLC's holdings in Schlumberger were worth $17,029,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. First Command Advisory Services Inc. raised its position in Schlumberger by 300.0% in the 1st quarter. First Command Advisory Services Inc. now owns 636 shares of the oil and gas company's stock valued at $27,000 after purchasing an additional 477 shares in the last quarter. Alpine Bank Wealth Management purchased a new position in shares of Schlumberger in the 1st quarter valued at about $34,000. True Wealth Design LLC increased its holdings in shares of Schlumberger by 584.7% in the 4th quarter. True Wealth Design LLC now owns 986 shares of the oil and gas company's stock valued at $38,000 after acquiring an additional 842 shares during the last quarter. Park Square Financial Group LLC purchased a new position in shares of Schlumberger in the 1st quarter valued at about $38,000. Finally, Mpwm Advisory Solutions LLC purchased a new position in shares of Schlumberger in the 4th quarter valued at about $40,000. Hedge funds and other institutional investors own 81.99% of the company's stock.

Schlumberger Stock Performance

Shares of SLB stock traded up $0.11 during midday trading on Friday, hitting $32.90. The company had a trading volume of 10,215,438 shares, compared to its average volume of 19,141,180. The company's 50 day simple moving average is $34.72 and its 200 day simple moving average is $36.87. Schlumberger Limited has a 52-week low of $31.11 and a 52-week high of $46.16. The stock has a market cap of $44.46 billion, a price-to-earnings ratio of 11.27, a PEG ratio of 9.12 and a beta of 1.03. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.31 and a quick ratio of 0.98.

Schlumberger (NYSE:SLB - Get Free Report) last posted its quarterly earnings results on Friday, July 18th. The oil and gas company reported $0.74 EPS for the quarter, beating the consensus estimate of $0.73 by $0.01. The business had revenue of $8.55 billion during 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%. The company's quarterly revenue was down 6.5% compared to the same quarter last year. During the same period last year, the firm earned $0.85 EPS. Research analysts anticipate that Schlumberger Limited will post 3.38 earnings per share for the current fiscal year.

Schlumberger Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 9th. Stockholders of record on Wednesday, September 3rd will be issued a $0.285 dividend. This represents a $1.14 annualized dividend and a dividend yield of 3.5%. The ex-dividend date of this dividend is Wednesday, September 3rd. Schlumberger's dividend payout ratio (DPR) is currently 39.04%.

Analyst Upgrades and Downgrades

SLB has been the topic of a number of recent analyst reports. Stifel Nicolaus dropped their price objective on Schlumberger from $54.00 to $52.00 and set a "buy" rating on the stock in a report on Wednesday, July 16th. Jefferies Financial Group dropped their price objective on Schlumberger from $54.00 to $53.00 and set a "buy" rating on the stock in a report on Thursday, June 26th. Piper Sandler dropped their price objective on Schlumberger from $44.00 to $42.00 and set a "neutral" rating on the stock in a report on Friday, July 18th. Barclays dropped their price objective on Schlumberger from $47.00 to $46.00 and set an "overweight" rating on the stock in a report on Monday, July 21st. Finally, Atb Cap Markets upgraded Schlumberger from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, July 1st. Four investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, Schlumberger presently has a consensus rating of "Moderate Buy" and an average target price of $49.28.

Insider Activity at Schlumberger

In other news, Director La Chevardiere Patrick De sold 5,000 shares of the firm's stock in a transaction that occurred on Thursday, May 22nd. The stock was 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 $789,969.50. This trade represents a 17.53% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 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.