Sigma Investment Counselors Inc. Reduces Holdings in Schlumberger Limited (NYSE:SLB)

Sigma Investment Counselors Inc. trimmed its holdings in shares of Schlumberger Limited (NYSE:SLB - Free Report) by 10.8% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 59,932 shares of the oil and gas company's stock after selling 7,222 shares during the quarter. Sigma Investment Counselors Inc.'s holdings in Schlumberger were worth $2,505,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the business. Alpine Bank Wealth Management bought a new stake in shares of Schlumberger during the 1st quarter worth $34,000. True Wealth Design LLC boosted 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 last quarter. Mpwm Advisory Solutions LLC bought a new position in shares of Schlumberger during the 4th quarter valued at approximately $40,000. Sound Income Strategies LLC increased its stake in shares of Schlumberger by 265.4% during the 1st quarter. Sound Income Strategies LLC now owns 961 shares of the oil and gas company's stock worth $40,000 after purchasing an additional 698 shares during the last quarter. Finally, Smallwood Wealth Investment Management LLC bought a new stake in shares of Schlumberger in the 1st quarter worth approximately $44,000. 81.99% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

SLB has been the topic of several research reports. JPMorgan Chase & Co. lowered their target price on Schlumberger from $46.00 to $44.00 and set an "overweight" rating on the stock in a research note on Monday, June 30th. Jefferies Financial Group dropped their price objective on shares of Schlumberger from $54.00 to $53.00 and set a "buy" rating on the stock in a report on Thursday, June 26th. Piper Sandler reduced their target price on shares of Schlumberger from $46.00 to $44.00 and set a "neutral" rating for the company in a research note on Tuesday, April 29th. Barclays lowered their price target on shares of Schlumberger from $48.00 to $47.00 and set an "overweight" rating on the stock in a research report on Thursday. Finally, Morgan Stanley cut 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. Three research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, Schlumberger currently has a consensus rating of "Moderate Buy" and an average price target of $50.79.

Insiders Place Their Bets

In other Schlumberger news, Director La Chevardiere Patrick De sold 5,000 shares of Schlumberger stock in a transaction that occurred on 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 of the company's stock, valued at approximately $789,969.50. This trade represents a 17.53% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.26% of the stock is owned by insiders.

Schlumberger Price Performance

Shares of NYSE:SLB traded up $0.70 on Friday, hitting $37.35. The company's stock had a trading volume of 11,333,547 shares, compared to its average volume of 13,866,867. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.24 and a quick ratio of 0.93. The company has a 50-day simple moving average of $34.77 and a 200 day simple moving average of $37.64. The company has a market capitalization of $50.80 billion, a PE ratio of 12.66, a PEG ratio of 9.69 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 released its quarterly 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). Schlumberger had a return on equity of 21.76% and a net margin of 11.62%. The company had revenue of $8.49 billion during the quarter, compared to analysts' expectations of $8.64 billion. During the same period in the prior year, the firm earned $0.75 EPS. Schlumberger's quarterly revenue was down 2.5% on a year-over-year basis. Sell-side analysts forecast that Schlumberger Limited will post 3.38 EPS for the current fiscal year.

Schlumberger Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 10th. Investors of record on Wednesday, June 4th were issued a dividend of $0.285 per share. The ex-dividend date was Wednesday, June 4th. This represents a $1.14 dividend on an annualized basis and a dividend yield of 3.05%. 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.