Thornburg Investment Management Inc. Makes New $1.45 Million Investment in Schlumberger Limited (NYSE:SLB)

Thornburg Investment Management Inc. purchased a new stake in Schlumberger Limited (NYSE:SLB - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 37,699 shares of the oil and gas company's stock, valued at approximately $1,445,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. YANKCOM Partnership purchased a new stake in shares of Schlumberger in the 4th quarter valued at about $31,000. Stonebridge Financial Group LLC purchased a new stake in shares of Schlumberger in the 4th quarter valued at about $32,000. Golden State Wealth Management LLC purchased a new stake in shares of Schlumberger in the 4th quarter valued at about $34,000. Hager Investment Management Services LLC purchased a new stake in shares of Schlumberger in the 4th quarter valued at about $38,000. Finally, Bogart Wealth LLC raised its holdings in shares of Schlumberger by 468.9% in the 4th quarter. Bogart Wealth LLC now owns 1,024 shares of the oil and gas company's stock valued at $39,000 after acquiring an additional 844 shares in the last quarter. Hedge funds and other institutional investors own 81.99% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on SLB. Morgan Stanley lowered their price target on Schlumberger from $50.00 to $45.00 and set an "overweight" rating on the stock in a report on Friday. Barclays lowered their price target on Schlumberger from $53.00 to $48.00 and set an "overweight" rating on the stock in a report on Friday, April 25th. Susquehanna decreased their price objective on Schlumberger from $48.00 to $46.00 and set a "positive" rating on the stock in a report on Monday, April 28th. Piper Sandler decreased their price objective on Schlumberger from $46.00 to $44.00 and set a "neutral" rating on the stock in a report on Tuesday, April 29th. Finally, Jefferies Financial Group decreased their price objective on Schlumberger from $60.00 to $59.00 and set a "buy" rating on the stock in a report on Thursday, March 27th. Five equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $52.44.

Insider Transactions at Schlumberger

In other news, insider Aparna Raman sold 25,133 shares of Schlumberger stock in a transaction that occurred on Friday, March 28th. The stock was 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Gavin Rennick sold 26,990 shares of Schlumberger stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $40.92, for a total value of $1,104,430.80. Following the completion of the sale, the insider now owns 53,584 shares in the company, valued at approximately $2,192,657.28. This represents a 33.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.26% of the company's stock.

Schlumberger Price Performance

SLB opened at $35.74 on Monday. The stock's 50 day simple moving average is $36.74 and its 200 day simple moving average is $39.56. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.45 and a quick ratio of 1.11. Schlumberger Limited has a 1 year low of $31.11 and a 1 year high of $50.94. The firm has a market cap of $48.61 billion, a price-to-earnings ratio of 11.49, a PEG ratio of 10.10 and a beta of 1.06.

Schlumberger (NYSE:SLB - Get Free Report) last posted its quarterly earnings results 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). Schlumberger had a return on equity of 21.90% and a net margin of 12.29%. The company had revenue of $8.49 billion for the quarter, compared to the consensus estimate of $8.64 billion. During the same quarter in the previous year, the business earned $0.75 earnings per share. Schlumberger's revenue was down 2.5% compared to the same quarter last year. As a group, analysts predict that Schlumberger Limited will post 3.38 earnings per share for the current year.

Schlumberger Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 10th. Investors of record on Wednesday, June 4th will be given a dividend of $0.285 per share. The ex-dividend date is Wednesday, June 4th. This represents a $1.14 annualized dividend and a yield of 3.19%. Schlumberger's payout ratio is 38.64%.

Schlumberger Company 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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