Schlumberger Limited (NYSE:SLB) Stock Holdings Boosted by Exchange Traded Concepts LLC

Exchange Traded Concepts LLC lifted its position in shares of Schlumberger Limited (NYSE:SLB - Free Report) by 594.7% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 87,257 shares of the oil and gas company's stock after acquiring an additional 74,696 shares during the period. Exchange Traded Concepts LLC's holdings in Schlumberger were worth $3,647,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of the company. Dynamic Technology Lab Private Ltd lifted its holdings in Schlumberger by 32.2% in the fourth quarter. Dynamic Technology Lab Private Ltd now owns 71,390 shares of the oil and gas company's stock worth $2,737,000 after purchasing an additional 17,405 shares during the period. Geode Capital Management LLC lifted its holdings in Schlumberger by 4.8% in the fourth quarter. Geode Capital Management LLC now owns 29,985,360 shares of the oil and gas company's stock worth $1,146,195,000 after purchasing an additional 1,377,134 shares during the period. Bryn Mawr Capital Management LLC lifted its holdings in Schlumberger by 502.6% in the fourth quarter. Bryn Mawr Capital Management LLC now owns 198,024 shares of the oil and gas company's stock worth $7,592,000 after purchasing an additional 165,162 shares during the period. Integrated Advisors Network LLC lifted its holdings in Schlumberger by 810.4% in the first quarter. Integrated Advisors Network LLC now owns 75,163 shares of the oil and gas company's stock worth $3,142,000 after purchasing an additional 66,907 shares during the period. Finally, Miller Financial Services LLC acquired a new stake in Schlumberger in the fourth quarter worth about $375,000. Institutional investors own 81.99% of the company's stock.

Insider Activity

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 value of $167,900.00. Following the transaction, the director now owns 23,525 shares in the company, valued at $789,969.50. This represents a 17.53% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, 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 completion of the transaction, the insider now owns 31,031 shares in the company, valued at $1,311,990.68. This represents a 44.75% decrease in their position. The disclosure for this sale can be found here. 0.26% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

SLB has been the subject of several research analyst reports. Piper Sandler reduced their price objective on shares of Schlumberger from $46.00 to $44.00 and set a "neutral" rating for the company in a report on Tuesday, April 29th. Morgan Stanley reduced their price objective on shares of Schlumberger from $50.00 to $45.00 and set an "overweight" rating for the company in a report on Friday, May 16th. Stifel Nicolaus cut their price target on shares of Schlumberger from $58.00 to $54.00 and set a "buy" rating for the company in a report on Monday, April 28th. Barclays cut their price target on shares of Schlumberger from $53.00 to $48.00 and set an "overweight" rating for the company in a report on Friday, April 25th. Finally, Susquehanna cut their price target on shares of Schlumberger from $48.00 to $46.00 and set a "positive" rating for the company in a report on Monday, April 28th. Four investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $52.38.

Schlumberger Price Performance

NYSE SLB opened at $35.90 on Tuesday. The stock's 50-day moving average price is $34.43 and its two-hundred day moving average price is $38.25. The company has a current ratio of 1.45, a quick ratio of 1.11 and a debt-to-equity ratio of 0.49. The company has a market cap of $48.84 billion, a PE ratio of 11.54, a PEG ratio of 10.10 and a beta of 1.01. Schlumberger Limited has a 1 year low of $31.11 and a 1 year high of $50.94.

Schlumberger (NYSE:SLB - Get Free Report) last posted its quarterly earnings data on Friday, April 25th. The oil and gas company reported $0.72 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.73 by ($0.01). The company had revenue of $8.49 billion for the quarter, compared to analyst estimates of $8.64 billion. Schlumberger had a return on equity of 21.90% and a net margin of 12.29%. Schlumberger's quarterly revenue was down 2.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.75 EPS. On average, analysts predict that Schlumberger Limited will post 3.38 EPS for the current year.

Schlumberger Announces Dividend

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

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