QRG Capital Management Inc. Grows Position in Schlumberger Limited (NYSE:SLB)

QRG Capital Management Inc. lifted its position in shares of Schlumberger Limited (NYSE:SLB - Free Report) by 20.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 69,650 shares of the oil and gas company's stock after purchasing an additional 11,710 shares during the quarter. QRG Capital Management Inc.'s holdings in Schlumberger were worth $2,911,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. True Wealth Design LLC boosted its stake in Schlumberger by 584.7% during the fourth quarter. True Wealth Design LLC now owns 986 shares of the oil and gas company's stock worth $38,000 after buying an additional 842 shares in the last quarter. Mpwm Advisory Solutions LLC acquired a new stake in shares of Schlumberger during the 4th quarter valued at about $40,000. Sound Income Strategies LLC boosted its position in shares of Schlumberger by 265.4% during the 1st quarter. Sound Income Strategies LLC now owns 961 shares of the oil and gas company's stock valued at $40,000 after acquiring an additional 698 shares in the last quarter. J.Safra Asset Management Corp acquired a new stake in shares of Schlumberger during the 4th quarter valued at about $46,000. Finally, Heck Capital Advisors LLC acquired a new stake in shares of Schlumberger during the 4th quarter valued at about $47,000. Institutional investors and hedge funds own 81.99% of the company's stock.

Insider Buying and Selling at Schlumberger

In other news, insider Aparna Raman sold 25,133 shares of the company's stock in a transaction dated 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 sale, the insider now directly owns 31,031 shares of the company's stock, valued at $1,311,990.68. This represents a 44.75% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director La Chevardiere Patrick De sold 5,000 shares of the company'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 now owns 23,525 shares in the company, valued at $789,969.50. The trade was a 17.53% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.26% of the company's stock.

Schlumberger Price Performance

NYSE SLB traded down $0.04 during trading hours on Friday, reaching $35.82. 29,993,139 shares of the stock traded hands, compared to its average volume of 13,603,827. The company has a market cap of $48.71 billion, a price-to-earnings ratio of 12.14, a price-to-earnings-growth ratio of 9.29 and a beta of 1.01. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.24 and a quick ratio of 0.93. Schlumberger Limited has a 1 year low of $31.11 and a 1 year high of $50.94. The stock has a 50 day simple moving average of $34.54 and a two-hundred day simple moving average of $38.08.

Schlumberger (NYSE:SLB - Get Free Report) last issued its earnings results on Friday, April 25th. The oil and gas company reported $0.72 EPS for the quarter, missing the consensus estimate of $0.73 by ($0.01). Schlumberger had a return on equity of 21.76% and a net margin of 11.62%. The firm had revenue of $8.49 billion during the quarter, compared to analysts' expectations of $8.64 billion. During the same period in the previous year, the firm earned $0.75 earnings per share. The firm's quarterly revenue was down 2.5% compared to the same quarter last year. On average, analysts predict that Schlumberger Limited will post 3.38 EPS for the current fiscal year.

Schlumberger Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 10th. Shareholders of record on Wednesday, June 4th will be given a dividend of $0.285 per share. This represents a $1.14 dividend on an annualized basis and a yield of 3.18%. The ex-dividend date is Wednesday, June 4th. Schlumberger's payout ratio is currently 38.64%.

Wall Street Analyst Weigh In

SLB has been the topic of a number of recent research reports. Susquehanna decreased their price objective on Schlumberger from $48.00 to $46.00 and set a "positive" rating on the stock in a report on Monday, April 28th. Morgan Stanley decreased their price target on Schlumberger from $50.00 to $45.00 and set an "overweight" rating on the stock in a research note on Friday, May 16th. Jefferies Financial Group decreased their price target on Schlumberger from $60.00 to $59.00 and set a "buy" rating on the stock in a research note on Thursday, March 27th. Wells Fargo & Company decreased their price target on Schlumberger from $46.00 to $43.00 and set an "overweight" rating on the stock in a research note on Thursday, June 5th. Finally, Piper Sandler reduced their price target on shares of Schlumberger from $46.00 to $44.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 29th. Four equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Schlumberger currently has a consensus rating of "Moderate Buy" and a consensus 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.