Schlumberger Limited (NYSE:SLB) Shares Bought by QRG Capital Management Inc.

QRG Capital Management Inc. raised its holdings in Schlumberger Limited (NYSE:SLB - Free Report) by 20.2% during the first quarter, according to the company in its most recent filing with the Securities & 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 period. QRG Capital Management Inc.'s holdings in Schlumberger were worth $2,911,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in SLB. True Wealth Design LLC raised its position 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 purchasing an additional 842 shares in the last quarter. Mpwm Advisory Solutions LLC acquired a new position in shares of Schlumberger in the 4th quarter valued at approximately $40,000. Sound Income Strategies LLC raised its position in shares of Schlumberger by 265.4% in the 1st quarter. Sound Income Strategies LLC now owns 961 shares of the oil and gas company's stock valued at $40,000 after purchasing an additional 698 shares in the last quarter. J.Safra Asset Management Corp acquired a new position in shares of Schlumberger in the 4th quarter valued at approximately $46,000. Finally, Heck Capital Advisors LLC acquired a new stake in shares of Schlumberger during the 4th quarter valued at approximately $47,000. 81.99% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, 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 completion of the transaction, the insider now owns 31,031 shares of the company's stock, valued at $1,311,990.68. This trade represents a 44.75% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director La Chevardiere Patrick De sold 5,000 shares of the firm's 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 transaction, the director now directly owns 23,525 shares of the company's stock, valued at $789,969.50. This represents a 17.53% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.26% of the company's stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. Stifel Nicolaus dropped their price target on Schlumberger from $58.00 to $54.00 and set a "buy" rating on the stock in a research report on Monday, April 28th. Piper Sandler dropped their price target on Schlumberger from $46.00 to $44.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 29th. Jefferies Financial Group dropped their price target on Schlumberger from $60.00 to $59.00 and set a "buy" rating on the stock in a research report on Thursday, March 27th. Susquehanna dropped their price target on Schlumberger from $48.00 to $46.00 and set a "positive" rating on the stock in a research report on Monday, April 28th. Finally, Morgan Stanley dropped their price target on Schlumberger from $50.00 to $45.00 and set an "overweight" rating on the stock in a research report on Friday, May 16th. Four investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Schlumberger presently has a consensus rating of "Moderate Buy" and an average target price of $52.38.

Schlumberger Price Performance

Shares of SLB opened at $35.85 on Thursday. The firm has a market capitalization of $48.76 billion, a price-to-earnings ratio of 12.15, a price-to-earnings-growth ratio of 9.35 and a beta of 1.01. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.93 and a current ratio of 1.24. Schlumberger Limited has a one year low of $31.11 and a one year high of $50.94. The stock's fifty day moving average is $34.43 and its 200-day moving average is $38.22.

Schlumberger (NYSE:SLB - Get Free Report) last issued its quarterly earnings results on Friday, April 25th. The oil and gas company reported $0.72 EPS for the quarter, missing analysts' consensus estimates 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 11.62% and a return on equity of 21.76%. Schlumberger's revenue for the quarter was down 2.5% on a year-over-year basis. During the same period last year, the business posted $0.75 earnings per share. Equities analysts anticipate that Schlumberger Limited will post 3.38 EPS for the current year.

Schlumberger Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 10th. Stockholders of record on Wednesday, June 4th will be issued a dividend of $0.285 per share. This represents a $1.14 dividend on an annualized basis and a dividend yield of 3.18%. The ex-dividend date of this dividend is Wednesday, June 4th. Schlumberger's dividend payout ratio (DPR) is 38.64%.

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.

Want to see what other hedge funds are holding SLB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Schlumberger Limited (NYSE:SLB - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.