Schlumberger Limited (NYSE:SLB) Shares Purchased by Cornercap Investment Counsel Inc.

Cornercap Investment Counsel Inc. lifted its position in Schlumberger Limited (NYSE:SLB - Free Report) by 31.5% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 38,219 shares of the oil and gas company's stock after acquiring an additional 9,146 shares during the period. Cornercap Investment Counsel Inc.'s holdings in Schlumberger were worth $1,598,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Norges Bank purchased a new position in Schlumberger during the fourth quarter worth approximately $735,398,000. Price T Rowe Associates Inc. MD lifted its position in Schlumberger by 7.4% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 75,986,195 shares of the oil and gas company's stock worth $2,913,312,000 after buying an additional 5,225,828 shares in the last quarter. Lazard Asset Management LLC lifted its position in Schlumberger by 3,112.1% during the fourth quarter. Lazard Asset Management LLC now owns 3,627,051 shares of the oil and gas company's stock worth $139,059,000 after buying an additional 3,514,134 shares in the last quarter. Deutsche Bank AG lifted its position in Schlumberger by 12.2% during the fourth quarter. Deutsche Bank AG now owns 28,737,703 shares of the oil and gas company's stock worth $1,101,804,000 after buying an additional 3,119,543 shares in the last quarter. Finally, Clearbridge Investments LLC lifted its position in Schlumberger by 43,028.0% during the fourth quarter. Clearbridge Investments LLC now owns 2,652,804 shares of the oil and gas company's stock worth $101,708,000 after buying an additional 2,646,653 shares in the last quarter. 81.99% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director La Chevardiere Patrick De sold 5,000 shares of the company's stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $33.58, for a total transaction of $167,900.00. Following the completion of the transaction, the director directly owned 23,525 shares of the company's stock, valued at approximately $789,969.50. This represents a 17.53% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.26% of the stock is owned by insiders.

Schlumberger Price Performance

SLB stock opened at $36.28 on Tuesday. The company has a current ratio of 1.24, a quick ratio of 0.93 and a debt-to-equity ratio of 0.51. The company has a market capitalization of $49.34 billion, a PE ratio of 12.30, a P/E/G ratio of 9.93 and a beta of 1.01. Schlumberger Limited has a 12-month low of $31.11 and a 12-month high of $50.94. The business's fifty day moving average price is $34.82 and its 200 day moving average price is $37.62.

Schlumberger (NYSE:SLB - Get Free Report) last released 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 company had revenue of $8.49 billion for the quarter, compared to analyst estimates of $8.64 billion. During the same period in the previous year, the firm earned $0.75 earnings per share. The company's revenue for the quarter was down 2.5% compared to the same quarter last year. On average, sell-side analysts anticipate that Schlumberger Limited will post 3.38 EPS for the current year.

Schlumberger Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, July 10th. Investors of record on Wednesday, June 4th were paid a dividend of $0.285 per share. The ex-dividend date was Wednesday, June 4th. This represents a $1.14 annualized dividend and a yield of 3.14%. Schlumberger's payout ratio is 38.64%.

Analyst Ratings Changes

A number of research firms have commented on SLB. Jefferies Financial Group reduced their target price on Schlumberger from $54.00 to $53.00 and set a "buy" rating on the stock in a research report on Thursday, June 26th. Piper Sandler reduced their target price on Schlumberger from $46.00 to $44.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 29th. Wells Fargo & Company reduced their target price on Schlumberger from $46.00 to $43.00 and set an "overweight" rating on the stock in a research report on Thursday, June 5th. JPMorgan Chase & Co. reduced their target price on Schlumberger from $46.00 to $44.00 and set an "overweight" rating on the stock in a research report on Monday, June 30th. Finally, UBS Group lifted their target price on Schlumberger from $44.00 to $45.00 and gave the company a "buy" rating in a research report on Wednesday, July 2nd. Three research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $50.79.

About Schlumberger

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.

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