Northeast Financial Consultants Inc Grows Stock Position in Schlumberger Limited (NYSE:SLB)

Northeast Financial Consultants Inc boosted its holdings in Schlumberger Limited (NYSE:SLB - Free Report) by 95.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 80,755 shares of the oil and gas company's stock after purchasing an additional 39,355 shares during the quarter. Northeast Financial Consultants Inc's holdings in Schlumberger were worth $3,096,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the business. CX Institutional raised its position in shares of Schlumberger by 2.4% in the 4th quarter. CX Institutional now owns 10,370 shares of the oil and gas company's stock worth $398,000 after acquiring an additional 244 shares in the last quarter. TCW Group Inc. raised its position in shares of Schlumberger by 1.3% in the 4th quarter. TCW Group Inc. now owns 19,797 shares of the oil and gas company's stock worth $759,000 after acquiring an additional 259 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. raised its position in shares of Schlumberger by 0.5% in the 4th quarter. Tokio Marine Asset Management Co. Ltd. now owns 56,714 shares of the oil and gas company's stock worth $2,174,000 after acquiring an additional 262 shares in the last quarter. Cromwell Holdings LLC raised its position in shares of Schlumberger by 7.0% in the 4th quarter. Cromwell Holdings LLC now owns 4,350 shares of the oil and gas company's stock worth $167,000 after acquiring an additional 283 shares in the last quarter. Finally, Mitchell Mcleod Pugh & Williams Inc. raised its position in shares of Schlumberger by 2.0% in the 4th quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 14,775 shares of the oil and gas company's stock worth $566,000 after acquiring an additional 293 shares in the last quarter. Institutional investors and hedge funds own 81.99% of the company's stock.

Insiders Place Their Bets

In other news, insider Aparna Raman sold 25,133 shares of the firm's stock in a transaction on Friday, March 28th. The stock was sold at an average price of $42.28, for a total transaction of $1,062,623.24. Following the completion of the transaction, the insider now directly owns 31,031 shares in the company, valued at $1,311,990.68. This trade represents a 44.75% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Gavin Rennick sold 26,990 shares of the firm's stock in a transaction 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 transaction, the insider now owns 53,584 shares of the company's stock, 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. 0.26% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research firms have recently commented on SLB. Jefferies Financial Group reduced their price target on Schlumberger from $60.00 to $59.00 and set a "buy" rating for the company in a research report on Thursday, March 27th. Wells Fargo & Company upgraded Schlumberger from an "equal weight" rating to an "overweight" rating and dropped their price target for the company from $46.00 to $44.00 in a research note on Tuesday, April 8th. Morgan Stanley dropped their price target on Schlumberger from $50.00 to $45.00 and set an "overweight" rating on the stock in a research note on Friday. Barclays dropped their price target on Schlumberger from $53.00 to $48.00 and set an "overweight" rating on the stock in a research note on Friday, April 25th. Finally, Piper Sandler dropped their price target on Schlumberger from $46.00 to $44.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 29th. Five 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 company. According to MarketBeat.com, Schlumberger has an average rating of "Moderate Buy" and an average target price of $52.44.

Schlumberger Trading Up 0.0%

SLB stock traded up $0.02 during midday trading on Friday, hitting $35.74. 12,621,645 shares of the company's stock were exchanged, compared to its average volume of 13,485,421. The business has a 50-day simple moving average of $36.74 and a two-hundred day simple moving average of $39.57. 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 stock has a market capitalization of $48.61 billion, a PE ratio of 11.49, a P/E/G ratio of 10.10 and a beta of 1.06. Schlumberger Limited has a 1-year low of $31.11 and a 1-year high of $50.94.

Schlumberger (NYSE:SLB - Get Free Report) last posted its 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). The business had revenue of $8.49 billion for the quarter, compared to analyst estimates of $8.64 billion. Schlumberger had a return on equity of 21.90% and a net margin of 12.29%. Schlumberger's revenue was down 2.5% compared to the same quarter last year. During the same period last year, the business earned $0.75 EPS. On average, sell-side analysts predict that Schlumberger Limited will post 3.38 EPS for the current fiscal year.

Schlumberger Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 10th. Shareholders of record on Wednesday, June 4th will be paid 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 dividend payout ratio (DPR) is 38.64%.

Schlumberger 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.