Schlumberger Limited (NYSE:SLB) Shares Acquired by Simmons Bank

Simmons Bank increased its holdings in Schlumberger Limited (NYSE:SLB - Free Report) by 36.0% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 29,911 shares of the oil and gas company's stock after purchasing an additional 7,915 shares during the quarter. Simmons Bank's holdings in Schlumberger were worth $1,250,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Wayfinding Financial LLC purchased a new position in Schlumberger in the 1st quarter valued at about $48,000. Eukles Asset Management lifted its position in shares of Schlumberger by 10.6% in the first quarter. Eukles Asset Management now owns 10,244 shares of the oil and gas company's stock valued at $428,000 after acquiring an additional 983 shares in the last quarter. Capital Investment Advisory Services LLC acquired a new stake in shares of Schlumberger in the first quarter worth approximately $333,000. Argyle Capital Management LLC boosted its stake in shares of Schlumberger by 7.6% in the first quarter. Argyle Capital Management LLC now owns 45,516 shares of the oil and gas company's stock worth $1,903,000 after acquiring an additional 3,200 shares during the last quarter. Finally, Huntleigh Advisors Inc. increased its position in shares of Schlumberger by 83.3% during the first quarter. Huntleigh Advisors Inc. now owns 13,737 shares of the oil and gas company's stock worth $574,000 after purchasing an additional 6,241 shares in the last quarter. Hedge funds and other institutional investors own 81.99% of the company's stock.

Schlumberger Trading Down 1.9%

Shares of SLB traded down $0.67 during midday trading on Monday, hitting $34.98. 9,709,164 shares of the stock were exchanged, compared to its average volume of 13,783,060. The firm has a market cap of $47.58 billion, a P/E ratio of 11.86, a P/E/G ratio of 9.38 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. The stock has a fifty day simple moving average of $34.53 and a 200 day simple moving average of $37.67. Schlumberger Limited has a 52-week low of $31.11 and a 52-week high of $50.94.

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 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 company had revenue of $8.49 billion for the quarter, compared to analysts' expectations of $8.64 billion. During the same quarter last year, the company earned $0.75 EPS. Schlumberger's revenue for the quarter was down 2.5% compared to the same quarter last year. On average, research analysts anticipate that Schlumberger Limited will post 3.38 EPS for the current fiscal year.

Schlumberger Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 10th. Investors of record on Wednesday, June 4th will be issued a $0.285 dividend. This represents a $1.14 annualized dividend and a yield of 3.26%. The ex-dividend date is Wednesday, June 4th. Schlumberger's dividend payout ratio (DPR) is presently 38.64%.

Insiders Place Their Bets

In other Schlumberger 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 transaction, the director directly owned 23,525 shares in the company, valued at $789,969.50. This represents a 17.53% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.26% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on SLB shares. Jefferies Financial Group lowered their target price on shares of Schlumberger from $54.00 to $53.00 and set a "buy" rating on the stock in a research note on Thursday, June 26th. Piper Sandler dropped their price objective on shares of Schlumberger from $46.00 to $44.00 and set a "neutral" rating for the company in a research note on Tuesday, April 29th. Barclays lowered their target price on Schlumberger from $53.00 to $48.00 and set an "overweight" rating on the stock in a report on Friday, April 25th. UBS Group increased their price target on Schlumberger from $44.00 to $45.00 and gave the company a "buy" rating in a report on Wednesday, July 2nd. Finally, JPMorgan Chase & Co. lowered their price objective on Schlumberger from $46.00 to $44.00 and set an "overweight" rating on the stock in a research note on Monday, June 30th. Three research analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $50.85.

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.