XXEC Inc. Purchases New Shares in Schlumberger Limited (NYSE:SLB)

XXEC Inc. bought a new position in Schlumberger Limited (NYSE:SLB - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 68,087 shares of the oil and gas company's stock, valued at approximately $2,846,000. Schlumberger accounts for about 2.5% of XXEC Inc.'s holdings, making the stock its 17th largest holding.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Norges Bank acquired a new stake in Schlumberger in the 4th quarter worth $735,398,000. Price T Rowe Associates Inc. MD lifted its position in shares of Schlumberger by 7.4% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 75,986,195 shares of the oil and gas company's stock worth $2,913,312,000 after buying an additional 5,225,828 shares during the period. Lazard Asset Management LLC grew its stake in Schlumberger by 3,112.1% during the fourth quarter. Lazard Asset Management LLC now owns 3,627,051 shares of the oil and gas company's stock worth $139,059,000 after buying an additional 3,514,134 shares during the last quarter. Deutsche Bank AG boosted its holdings in Schlumberger by 12.2% in the fourth quarter. Deutsche Bank AG now owns 28,737,703 shares of the oil and gas company's stock valued at $1,101,804,000 after acquiring an additional 3,119,543 shares during the last quarter. Finally, Clearbridge Investments LLC raised its position in shares of Schlumberger by 43,028.0% in the 4th quarter. Clearbridge Investments LLC now owns 2,652,804 shares of the oil and gas company's stock valued at $101,708,000 after acquiring an additional 2,646,653 shares during the period. Hedge funds and other institutional investors own 81.99% of the company's stock.

Insider Buying and Selling at Schlumberger

In other Schlumberger news, insider Aparna Raman sold 25,133 shares of the company's stock in a transaction dated 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 completion of the sale, the insider now owns 31,031 shares in the company, valued at $1,311,990.68. This represents a 44.75% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director La Chevardiere Patrick De sold 5,000 shares of Schlumberger stock in a transaction 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 now owns 23,525 shares in the company, valued at approximately $789,969.50. This trade represents a 17.53% decrease in their position. The disclosure for this sale can be found here. 0.26% of the stock is owned by corporate insiders.

Schlumberger Trading Up 2.3%

Shares of NYSE:SLB traded up $0.76 on Tuesday, hitting $34.10. The company had a trading volume of 16,171,749 shares, compared to its average volume of 13,501,674. Schlumberger Limited has a 1 year low of $31.11 and a 1 year high of $50.94. The firm has a market capitalization of $46.38 billion, a price-to-earnings ratio of 10.96, a P/E/G ratio of 10.10 and a beta of 1.06. The firm's 50-day simple moving average is $35.11 and its two-hundred day simple moving average is $38.88. The company has a quick ratio of 1.11, a current ratio of 1.45 and a debt-to-equity ratio of 0.49.

Schlumberger (NYSE:SLB - Get Free Report) last released its 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). The company had revenue of $8.49 billion during the quarter, compared to analysts' expectations of $8.64 billion. Schlumberger had a return on equity of 21.90% and a net margin of 12.29%. The company's revenue was down 2.5% on a year-over-year basis. During the same period in the prior year, the company posted $0.75 earnings per share. Equities analysts anticipate that Schlumberger Limited will post 3.38 earnings per share for the current fiscal year.

Schlumberger Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 10th. Shareholders of record on Wednesday, June 4th will be given a $0.285 dividend. This represents a $1.14 dividend on an annualized basis and a yield of 3.34%. The ex-dividend date is Wednesday, June 4th. Schlumberger's dividend payout ratio (DPR) is presently 38.64%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on SLB shares. Barclays reduced their price objective on shares of Schlumberger from $53.00 to $48.00 and set an "overweight" rating for the company in a research note on Friday, April 25th. Piper Sandler cut their price target on shares of Schlumberger from $46.00 to $44.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 29th. Susquehanna cut 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. Jefferies Financial Group decreased their price target on shares of Schlumberger from $60.00 to $59.00 and set a "buy" rating for the company in a research note on Thursday, March 27th. Finally, Stifel Nicolaus reduced their price objective on shares of Schlumberger from $58.00 to $54.00 and set a "buy" rating for the company in a report on Monday, April 28th. Five investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Schlumberger presently has an average rating of "Moderate Buy" and a consensus price target of $52.44.

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.