Perpetual Ltd Purchases 21,921 Shares of Schlumberger Limited (NYSE:SLB)

Perpetual Ltd increased its position in Schlumberger Limited (NYSE:SLB - Free Report) by 22.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 121,761 shares of the oil and gas company's stock after acquiring an additional 21,921 shares during the quarter. Perpetual Ltd's holdings in Schlumberger were worth $5,090,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Alpine Bank Wealth Management bought a new position in Schlumberger in the 1st quarter worth $34,000. True Wealth Design LLC increased its stake in Schlumberger by 584.7% in the fourth 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 period. Mpwm Advisory Solutions LLC bought a new stake in Schlumberger in the fourth quarter valued at about $40,000. Sound Income Strategies LLC increased its stake in Schlumberger by 265.4% in the first 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 during the period. Finally, J.Safra Asset Management Corp bought a new stake in Schlumberger in the fourth quarter valued at about $46,000. Institutional investors own 81.99% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on SLB shares. Susquehanna lowered their target price on shares of Schlumberger from $48.00 to $46.00 and set a "positive" rating on the stock in a research note on Monday, April 28th. Barclays lowered their target price on shares of Schlumberger from $53.00 to $48.00 and set an "overweight" rating on the stock in a research note on Friday, April 25th. Stifel Nicolaus lowered their target price on shares of Schlumberger from $58.00 to $54.00 and set a "buy" rating on the stock in a research note on Monday, April 28th. 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. Finally, Wells Fargo & Company reduced their price target on shares of Schlumberger from $46.00 to $43.00 and set an "overweight" rating on the stock in a research report on Thursday, June 5th. Four investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $52.03.

Schlumberger Stock Up 0.5%

Shares of Schlumberger stock traded up $0.18 during trading on Friday, reaching $34.01. 17,164,745 shares of the company traded hands, compared to its average volume of 13,702,802. 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 company has a 50 day moving average price of $34.46 and a 200-day moving average price of $37.84. The firm has a market capitalization of $46.26 billion, a PE ratio of 11.53, a P/E/G ratio of 8.82 and a beta of 1.01.

Schlumberger (NYSE:SLB - Get Free Report) last released its quarterly earnings data 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 business had revenue of $8.49 billion for the quarter, compared to analyst estimates of $8.64 billion. During the same quarter in the previous year, the company posted $0.75 EPS. The business's quarterly revenue was down 2.5% on a year-over-year basis. As a group, equities research analysts expect that Schlumberger Limited will post 3.38 earnings per share for the current fiscal year.

Schlumberger Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 10th. Stockholders of record on Wednesday, June 4th will be paid a $0.285 dividend. The ex-dividend date is Wednesday, June 4th. This represents a $1.14 annualized dividend and a dividend yield of 3.35%. Schlumberger's payout ratio is 38.64%.

Insider Transactions at Schlumberger

In related news, Director La Chevardiere Patrick De sold 5,000 shares of the stock in a transaction dated Thursday, May 22nd. The shares were sold at an average price of $33.58, for a total transaction of $167,900.00. Following the completion of the transaction, the director now owns 23,525 shares in the company, valued at approximately $789,969.50. This represents a 17.53% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.26% of the company's stock.

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.