Twin Capital Management Inc. Grows Stock Holdings in Schlumberger Limited (NYSE:SLB)

Twin Capital Management Inc. boosted its stake in shares of Schlumberger Limited (NYSE:SLB - Free Report) by 41.1% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 54,148 shares of the oil and gas company's stock after purchasing an additional 15,760 shares during the period. Twin Capital Management Inc.'s holdings in Schlumberger were worth $2,263,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. First Command Advisory Services Inc. increased its position in shares of Schlumberger by 300.0% during the 1st quarter. First Command Advisory Services Inc. now owns 636 shares of the oil and gas company's stock valued at $27,000 after purchasing an additional 477 shares during the last quarter. Alpine Bank Wealth Management bought a new stake in Schlumberger during the first quarter valued at approximately $34,000. True Wealth Design LLC increased its holdings in Schlumberger by 584.7% during the fourth quarter. True Wealth Design LLC now owns 986 shares of the oil and gas company's stock valued at $38,000 after buying an additional 842 shares during the last quarter. Park Square Financial Group LLC purchased a new stake in Schlumberger during the first quarter valued at approximately $38,000. Finally, Mpwm Advisory Solutions LLC bought a new position in Schlumberger in the fourth quarter worth approximately $40,000. Hedge funds and other institutional investors own 81.99% of the company's stock.

Schlumberger Trading Down 3.7%

Shares of NYSE SLB opened at $33.37 on Friday. Schlumberger Limited has a fifty-two week low of $31.11 and a fifty-two week high of $50.52. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.93 and a current ratio of 1.24. The company has a market cap of $45.39 billion, a price-to-earnings ratio of 11.43, a PEG ratio of 8.96 and a beta of 1.01. The business's 50 day moving average price is $34.86 and its 200-day moving average price is $37.53.

Schlumberger (NYSE:SLB - Get Free Report) last issued its earnings results on Friday, July 18th. The oil and gas company reported $0.74 EPS for the quarter, topping analysts' consensus estimates of $0.73 by $0.01. Schlumberger had a net margin of 11.62% and a return on equity of 21.76%. The business had revenue of $8.55 billion for the quarter, compared to analyst estimates of $8.51 billion. During the same period last year, the company posted $0.85 earnings per share. The company's quarterly revenue was down 6.5% compared to the same quarter last year. On average, sell-side analysts expect 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, October 9th. Stockholders of record on Wednesday, September 3rd will be given a $0.285 dividend. This represents a $1.14 annualized dividend and a dividend yield of 3.42%. Schlumberger's payout ratio is 38.64%.

Insider Buying and Selling

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

Analysts Set New Price Targets

Several research firms recently issued reports on SLB. Piper Sandler reduced their target price on shares of Schlumberger from $44.00 to $42.00 and set a "neutral" rating for the company in a report on Friday. Susquehanna cut their price target on Schlumberger from $46.00 to $44.00 and set a "positive" rating for the company in a research note on Tuesday, July 1st. Barclays lowered their price objective on Schlumberger from $48.00 to $47.00 and set an "overweight" rating on the stock in a research report on Thursday, July 10th. JPMorgan Chase & Co. dropped their price objective on Schlumberger from $46.00 to $44.00 and set an "overweight" rating for the company in a research note on Monday, June 30th. Finally, Morgan Stanley cut 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. Three equities 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's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $50.56.

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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