Schwartz Investment Counsel Inc. Acquires 51,000 Shares of Schlumberger Limited (NYSE:SLB)

Schwartz Investment Counsel Inc. raised its holdings in shares of Schlumberger Limited (NYSE:SLB - Free Report) by 15.3% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 384,800 shares of the oil and gas company's stock after purchasing an additional 51,000 shares during the period. Schwartz Investment Counsel Inc.'s holdings in Schlumberger were worth $16,085,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of SLB. Norges Bank bought a new position in Schlumberger during the 4th quarter valued at approximately $735,398,000. Price T Rowe Associates Inc. MD raised its position in Schlumberger by 7.4% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 75,986,195 shares of the oil and gas company's stock valued at $2,913,312,000 after purchasing an additional 5,225,828 shares during the last quarter. Lazard Asset Management LLC raised its position in Schlumberger by 3,112.1% during the 4th quarter. Lazard Asset Management LLC now owns 3,627,051 shares of the oil and gas company's stock valued at $139,059,000 after purchasing an additional 3,514,134 shares during the last quarter. Deutsche Bank AG raised its position in Schlumberger by 12.2% during the 4th quarter. Deutsche Bank AG now owns 28,737,703 shares of the oil and gas company's stock valued at $1,101,804,000 after purchasing an additional 3,119,543 shares during the last quarter. Finally, Clearbridge Investments LLC raised its position in Schlumberger by 43,028.0% during the 4th quarter. Clearbridge Investments LLC now owns 2,652,804 shares of the oil and gas company's stock valued at $101,708,000 after purchasing an additional 2,646,653 shares during the last quarter. Institutional investors own 81.99% of the company's stock.

Schlumberger Stock Up 0.5%

Schlumberger stock opened at $34.01 on Friday. The firm has a market cap of $46.26 billion, a price-to-earnings ratio of 11.53, a PEG ratio of 8.82 and a beta of 1.01. The stock has a fifty day simple moving average of $34.46 and a two-hundred day simple moving average of $37.84. Schlumberger Limited has a 12 month low of $31.11 and a 12 month high of $50.94. The company has a current ratio of 1.24, a quick ratio of 0.93 and a debt-to-equity ratio of 0.51.

Schlumberger (NYSE:SLB - Get Free Report) last posted its 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 during the quarter, compared to the consensus estimate of $8.64 billion. Schlumberger had a return on equity of 21.76% and a net margin of 11.62%. The firm's revenue for the quarter was down 2.5% on a year-over-year basis. During the same period in the previous year, the business posted $0.75 EPS. Equities analysts predict 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. Shareholders of record on Wednesday, June 4th will be issued a $0.285 dividend. This represents a $1.14 dividend on an annualized basis and a dividend yield of 3.35%. The ex-dividend date of this dividend is Wednesday, June 4th. Schlumberger's payout ratio is 38.64%.

Insiders Place Their Bets

In related news, Director La Chevardiere Patrick De sold 5,000 shares of Schlumberger stock in a transaction on Thursday, May 22nd. The stock was sold at an average price of $33.58, for a total value of $167,900.00. Following the completion of the sale, the director now owns 23,525 shares of the company's stock, valued at $789,969.50. The trade was a 17.53% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 0.26% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on SLB shares. Piper Sandler decreased their target price on Schlumberger from $46.00 to $44.00 and set a "neutral" rating for the company in a research report on Tuesday, April 29th. Morgan Stanley decreased their target price on Schlumberger from $50.00 to $45.00 and set an "overweight" rating for the company in a research report on Friday, May 16th. Susquehanna decreased their target price on Schlumberger from $48.00 to $46.00 and set a "positive" rating for the company in a research report on Monday, April 28th. Wells Fargo & Company decreased their target price on Schlumberger from $46.00 to $43.00 and set an "overweight" rating for the company in a research report on Thursday, June 5th. Finally, Jefferies Financial Group decreased their target price on Schlumberger from $54.00 to $53.00 and set a "buy" rating for the company in a research report on Thursday. Four equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $52.03.

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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