28,780 Shares in Schlumberger Limited (NYSE:SLB) Bought by Smithbridge Asset Management Inc. DE

Smithbridge Asset Management Inc. DE bought a new position in shares of Schlumberger Limited (NYSE:SLB - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 28,780 shares of the oil and gas company's stock, valued at approximately $1,203,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. TCW Group Inc. increased its holdings in shares of Schlumberger by 1.3% during the 4th quarter. TCW Group Inc. now owns 19,797 shares of the oil and gas company's stock worth $759,000 after purchasing an additional 259 shares during the period. Vident Advisory LLC increased its holdings in shares of Schlumberger by 1.0% during the 4th quarter. Vident Advisory LLC now owns 27,838 shares of the oil and gas company's stock worth $1,067,000 after purchasing an additional 273 shares during the period. Glen Eagle Advisors LLC increased its holdings in shares of Schlumberger by 3.7% during the 4th quarter. Glen Eagle Advisors LLC now owns 7,843 shares of the oil and gas company's stock worth $301,000 after purchasing an additional 282 shares during the period. Cromwell Holdings LLC increased its holdings in shares of Schlumberger by 7.0% during the 4th quarter. Cromwell Holdings LLC now owns 4,350 shares of the oil and gas company's stock worth $167,000 after purchasing an additional 283 shares during the period. Finally, Laidlaw Wealth Management LLC increased its holdings in shares of Schlumberger by 1.3% during the 4th quarter. Laidlaw Wealth Management LLC now owns 23,085 shares of the oil and gas company's stock worth $885,000 after purchasing an additional 305 shares during the period. Institutional investors and hedge funds own 81.99% of the company's stock.

Schlumberger Price Performance

Shares of SLB traded up $0.68 during mid-day trading on Friday, hitting $36.31. 15,378,704 shares of the company traded hands, compared to its average volume of 13,541,557. Schlumberger Limited has a one year low of $31.11 and a one year high of $50.94. 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 business has a 50-day moving average of $34.27 and a 200 day moving average of $38.43. The stock has a market capitalization of $49.38 billion, a price-to-earnings ratio of 11.67, a PEG ratio of 10.10 and a beta of 1.01.

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 the consensus estimate of $0.73 by ($0.01). Schlumberger had a net margin of 12.29% and a return on equity of 21.90%. The company had revenue of $8.49 billion for the quarter, compared to the consensus estimate of $8.64 billion. During the same period last year, the company earned $0.75 earnings per share. Schlumberger's revenue for the quarter was down 2.5% compared to the same quarter last year. As a group, equities analysts expect that Schlumberger Limited will post 3.38 earnings per share for the current fiscal year.

Schlumberger Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 10th. Investors of record on Wednesday, June 4th will be issued a $0.285 dividend. The ex-dividend date is Wednesday, June 4th. This represents a $1.14 annualized dividend and a yield of 3.14%. Schlumberger's dividend payout ratio is currently 38.64%.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on SLB. Morgan Stanley dropped their price objective on shares of Schlumberger from $50.00 to $45.00 and set an "overweight" rating on the stock in a report on Friday, May 16th. 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. Piper Sandler lowered their target price on shares of Schlumberger from $46.00 to $44.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 29th. Jefferies Financial Group lowered their target price on shares of Schlumberger from $60.00 to $59.00 and set a "buy" rating on the stock in a research note on Thursday, March 27th. Finally, Wells Fargo & Company lowered their target price on shares of Schlumberger from $46.00 to $43.00 and set an "overweight" rating on the stock in a research note on Thursday, June 5th. Four analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $52.38.

Insider Activity at Schlumberger

In other Schlumberger news, insider Aparna Raman sold 25,133 shares of the stock in a transaction on 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 sale, the insider now directly owns 31,031 shares in the company, valued at approximately $1,311,990.68. This trade represents a 44.75% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director La Chevardiere Patrick De sold 5,000 shares of the stock in a transaction on Thursday, May 22nd. The stock was sold at an average price of $33.58, for a total transaction of $167,900.00. Following the completion of the sale, the director now owns 23,525 shares in the company, valued at approximately $789,969.50. This trade represents a 17.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.26% of the stock is currently owned by company insiders.

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.