Victory Capital Management Inc. Acquires 1,054,498 Shares of Schlumberger Limited (NYSE:SLB)

Victory Capital Management Inc. boosted its position in Schlumberger Limited (NYSE:SLB - Free Report) by 79.0% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,389,748 shares of the oil and gas company's stock after purchasing an additional 1,054,498 shares during the quarter. Victory Capital Management Inc. owned about 0.18% of Schlumberger worth $99,891,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. First Command Advisory Services Inc. increased its stake in shares of Schlumberger by 300.0% during the first quarter. First Command Advisory Services Inc. now owns 636 shares of the oil and gas company's stock valued at $27,000 after acquiring an additional 477 shares during the period. Alpine Bank Wealth Management acquired a new position in shares of Schlumberger during the first quarter valued at approximately $34,000. True Wealth Design LLC increased its stake in shares of 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 acquiring an additional 842 shares during the period. Park Square Financial Group LLC acquired a new position in shares of Schlumberger during the first quarter valued at approximately $38,000. Finally, Mpwm Advisory Solutions LLC acquired a new position in shares of Schlumberger during the fourth quarter valued at approximately $40,000. 81.99% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, Director La Chevardiere Patrick De sold 5,000 shares of the business's 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. The trade was 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 the SEC website. Insiders own 0.26% of the company's stock.

Analyst Ratings Changes

A number of research analysts recently commented on the stock. Piper Sandler lowered their price objective on shares of Schlumberger from $44.00 to $42.00 and set a "neutral" rating on the stock in a research note on Friday. Susquehanna dropped their target price on shares of Schlumberger from $46.00 to $44.00 and set a "positive" rating on the stock in a report on Tuesday, July 1st. Stifel Nicolaus dropped their target price on shares of Schlumberger from $54.00 to $52.00 and set a "buy" rating on the stock in a report on Wednesday. Wells Fargo & Company dropped their target price on shares of Schlumberger from $46.00 to $43.00 and set an "overweight" rating on the stock in a report on Thursday, June 5th. Finally, Atb Cap Markets upgraded shares of Schlumberger from a "hold" rating to a "strong-buy" rating in a report on Tuesday, July 1st. Three investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $50.56.

Schlumberger Trading Down 3.7%

Shares of Schlumberger stock traded down $1.30 during trading on Friday, hitting $33.37. The stock had a trading volume of 35,360,423 shares, compared to its average volume of 14,296,101. The stock has a 50 day simple moving average of $34.86 and a 200 day simple moving average of $37.53. The company has a market capitalization of $45.39 billion, a PE ratio of 11.43, a P/E/G ratio of 8.96 and a beta of 1.01. The company has a quick ratio of 0.93, a current ratio of 1.24 and a debt-to-equity ratio of 0.51. Schlumberger Limited has a 1 year low of $31.11 and a 1 year high of $50.52.

Schlumberger (NYSE:SLB - Get Free Report) last announced its quarterly earnings data on Friday, July 18th. The oil and gas company reported $0.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.73 by $0.01. The firm had revenue of $8.55 billion during the quarter, compared to the consensus estimate of $8.51 billion. Schlumberger had a return on equity of 21.76% and a net margin of 11.62%. The business's revenue for the quarter was down 6.5% on a year-over-year basis. During the same period in the prior year, the business earned $0.85 EPS. On average, research analysts expect that Schlumberger Limited will post 3.38 EPS for the current fiscal year.

Schlumberger Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 9th. Investors of record on Wednesday, September 3rd will be given a dividend of $0.285 per share. This represents a $1.14 dividend on an annualized basis and a yield of 3.42%. Schlumberger's payout ratio is presently 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.