Sfmg LLC Buys 9,314 Shares of Schlumberger Limited (NYSE:SLB)

Key Points

• Sfmg LLC increased its stake in Schlumberger Limited by 10.2%, acquiring an additional 9,314 shares worth approximately $4.22 million.
• Several institutional investors have made significant adjustments to their positions in Schlumberger, with Price T Rowe Associates boosting their stake by 7.4% and Lazard Asset Management increasing by over 3,000%.
• Schlumberger reported a quarterly EPS of $0.74, exceeding estimates, despite a 6.5% decrease in revenue compared to the previous year, and declared a dividend of $0.285 per share.

Sfmg LLC boosted its stake in Schlumberger Limited (NYSE:SLB - Free Report) by 10.2% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 100,960 shares of the oil and gas company's stock after purchasing an additional 9,314 shares during the period. Sfmg LLC's holdings in Schlumberger were worth $4,220,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in SLB. Price T Rowe Associates Inc. MD boosted its stake in shares of 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 worth $2,913,312,000 after acquiring an additional 5,225,828 shares during the last quarter. Lazard Asset Management LLC boosted its stake in shares of 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 worth $139,059,000 after acquiring an additional 3,514,134 shares during the last quarter. Deutsche Bank AG boosted its stake in shares of 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 worth $1,101,804,000 after acquiring an additional 3,119,543 shares during the last quarter. Bank of Nova Scotia boosted its stake in shares of Schlumberger by 817.7% during the 4th quarter. Bank of Nova Scotia now owns 1,694,494 shares of the oil and gas company's stock worth $64,967,000 after acquiring an additional 1,509,852 shares during the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in shares of Schlumberger during the 4th quarter worth $56,507,000. Institutional investors own 81.99% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on SLB shares. Piper Sandler dropped their price target on shares of Schlumberger from $44.00 to $42.00 and set a "neutral" rating on the stock in a research note on Friday, July 18th. Morgan Stanley dropped their price target on shares of Schlumberger from $50.00 to $45.00 and set an "overweight" rating on the stock in a research note on Friday, May 16th. Barclays lowered their target price on shares of Schlumberger from $47.00 to $46.00 and set an "overweight" rating on the stock in a research note on Monday, July 21st. Stifel Nicolaus lowered their target price on shares of Schlumberger from $54.00 to $52.00 and set a "buy" rating on the stock in a research note on Wednesday, July 16th. Finally, JPMorgan Chase & Co. lowered their target price on shares of Schlumberger from $46.00 to $44.00 and set an "overweight" rating on the stock in a research note on Monday, June 30th. Four equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $49.28.

Schlumberger Stock Performance

Shares of NYSE:SLB opened at $33.04 on Monday. The company has a market capitalization of $44.65 billion, a price-to-earnings ratio of 11.32, a PEG ratio of 9.17 and a beta of 1.03. Schlumberger Limited has a 12 month low of $31.11 and a 12 month high of $46.16. The firm's 50-day moving average is $34.78 and its 200 day moving average is $37.18. The company has a current ratio of 1.31, a quick ratio of 0.98 and a debt-to-equity ratio of 0.51.

Schlumberger (NYSE:SLB - Get Free Report) last issued its quarterly earnings results on Friday, July 18th. The oil and gas company reported $0.74 EPS for the quarter, beating the consensus estimate of $0.73 by $0.01. The company had revenue of $8.55 billion for the quarter, compared to the consensus estimate of $8.51 billion. Schlumberger had a net margin of 11.53% and a return on equity of 20.99%. The firm's revenue was down 6.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.85 EPS. Research analysts predict that Schlumberger Limited will post 3.38 EPS for the current year.

Schlumberger Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 9th. Investors of record on Wednesday, September 3rd will be issued a dividend of $0.285 per share. This represents a $1.14 annualized dividend and a yield of 3.5%. The ex-dividend date is Wednesday, September 3rd. Schlumberger's dividend payout ratio is presently 39.04%.

Insider Buying and Selling

In related news, Director La Chevardiere Patrick De sold 5,000 shares of the company's 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 transaction, the director directly owned 23,525 shares in the company, valued at approximately $789,969.50. This represents a 17.53% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.26% of the company's stock.

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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