Quotient Wealth Partners LLC Acquires Shares of 49,381 Schlumberger Limited (NYSE:SLB)

Quotient Wealth Partners LLC acquired a new stake in shares of Schlumberger Limited (NYSE:SLB - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 49,381 shares of the oil and gas company's stock, valued at approximately $2,570,000.

Several other institutional investors have also modified their holdings of SLB. Mirae Asset Global Investments Co. Ltd. raised its stake in Schlumberger by 27.2% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 260,332 shares of the oil and gas company's stock valued at $15,177,000 after purchasing an additional 55,730 shares during the last quarter. Assetmark Inc. raised its position in shares of Schlumberger by 18.4% in the third quarter. Assetmark Inc. now owns 48,902 shares of the oil and gas company's stock valued at $2,851,000 after buying an additional 7,595 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its stake in shares of Schlumberger by 21.6% in the third quarter. Allspring Global Investments Holdings LLC now owns 120,140 shares of the oil and gas company's stock worth $7,004,000 after buying an additional 21,373 shares in the last quarter. Perigon Wealth Management LLC grew its stake in Schlumberger by 23.2% during the 3rd quarter. Perigon Wealth Management LLC now owns 29,641 shares of the oil and gas company's stock valued at $1,728,000 after acquiring an additional 5,586 shares in the last quarter. Finally, Arete Wealth Advisors LLC raised its holdings in Schlumberger by 21.4% in the 3rd quarter. Arete Wealth Advisors LLC now owns 11,719 shares of the oil and gas company's stock valued at $683,000 after acquiring an additional 2,066 shares during the last quarter. Institutional investors and hedge funds own 81.99% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. Morgan Stanley restated an "overweight" rating and set a $65.00 target price on shares of Schlumberger in a report on Monday, April 22nd. Barclays cut their target price on Schlumberger from $74.00 to $70.00 and set an "overweight" rating for the company in a research note on Thursday, April 4th. Wells Fargo & Company cut shares of Schlumberger from an "overweight" rating to an "equal weight" rating and lowered their price target for the company from $68.00 to $53.00 in a research report on Monday, April 29th. Bank of America cut their price objective on shares of Schlumberger from $63.00 to $62.00 and set a "buy" rating for the company in a research report on Monday, April 22nd. Finally, TD Cowen decreased their target price on shares of Schlumberger from $64.00 to $63.00 and set a "buy" rating on the stock in a report on Monday, April 22nd. Two analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $68.72.

Schlumberger Stock Down 0.6 %

Shares of SLB traded down $0.31 during mid-day trading on Wednesday, hitting $48.31. 6,937,828 shares of the company's stock were exchanged, compared to its average volume of 10,881,674. The stock's 50-day moving average is $51.56 and its 200-day moving average is $51.22. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.02 and a current ratio of 1.37. Schlumberger Limited has a fifty-two week low of $42.73 and a fifty-two week high of $62.12. The company has a market cap of $69.05 billion, a price-to-earnings ratio of 15.97, a P/E/G ratio of 0.94 and a beta of 1.64.

Schlumberger (NYSE:SLB - Get Free Report) last released its earnings results on Friday, April 19th. The oil and gas company reported $0.75 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.75. Schlumberger had a net margin of 12.72% and a return on equity of 21.88%. The company had revenue of $8.71 billion for the quarter, compared to analyst estimates of $8.70 billion. During the same period in the prior year, the business earned $0.63 EPS. The firm's quarterly revenue was up 12.6% on a year-over-year basis. On average, sell-side analysts anticipate that Schlumberger Limited will post 3.51 earnings per share for the current fiscal year.

Schlumberger Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 11th. Shareholders of record on Wednesday, June 5th will be issued a dividend of $0.275 per share. This is an increase from Schlumberger's previous quarterly dividend of $0.25. The ex-dividend date of this dividend is Wednesday, June 5th. This represents a $1.10 annualized dividend and a yield of 2.28%. Schlumberger's dividend payout ratio is 36.54%.

Insider Buying and Selling at Schlumberger

In related news, CFO Stephane Biguet sold 6,250 shares of Schlumberger stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $48.64, for a total value of $304,000.00. Following the completion of the transaction, the chief financial officer now owns 242,932 shares in the company, valued at $11,816,212.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CTO Demosthenis Pafitis sold 63,095 shares of the firm's stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $48.26, for a total transaction of $3,044,964.70. Following the sale, the chief technology officer now owns 33,421 shares of the company's stock, valued at approximately $1,612,897.46. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Stephane Biguet sold 6,250 shares of the company's stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $48.64, for a total value of $304,000.00. Following the completion of the transaction, the chief financial officer now directly owns 242,932 shares of the company's stock, valued at $11,816,212.48. The disclosure for this sale can be found here. Insiders have sold 119,345 shares of company stock valued at $5,774,965 in the last quarter. Corporate insiders own 0.26% of the company's stock.

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.