Great Lakes Retirement Inc. boosted its stake in Schlumberger Limited (NYSE:SLB - Free Report) by 3.4% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 266,513 shares of the oil and gas company's stock after acquiring an additional 8,729 shares during the quarter. Schlumberger comprises about 1.5% of Great Lakes Retirement Inc.'s holdings, making the stock its 19th largest holding. Great Lakes Retirement Inc.'s holdings in Schlumberger were worth $11,215,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Murphy Pohlad Asset Management LLC increased its stake in Schlumberger by 7.4% during the first quarter. Murphy Pohlad Asset Management LLC now owns 103,434 shares of the oil and gas company's stock valued at $4,324,000 after purchasing an additional 7,110 shares during the last quarter. Sowell Financial Services LLC raised its stake in Schlumberger by 23.2% during the first quarter. Sowell Financial Services LLC now owns 28,248 shares of the oil and gas company's stock worth $1,181,000 after acquiring an additional 5,313 shares during the period. Hanson & Doremus Investment Management boosted its stake in Schlumberger by 11.5% in the first quarter. Hanson & Doremus Investment Management now owns 72,758 shares of the oil and gas company's stock valued at $3,041,000 after acquiring an additional 7,477 shares during the period. Bank Pictet & Cie Europe AG grew its holdings in shares of Schlumberger by 27.3% during the first quarter. Bank Pictet & Cie Europe AG now owns 73,029 shares of the oil and gas company's stock valued at $3,053,000 after purchasing an additional 15,680 shares during the last quarter. Finally, Trust Co. of Toledo NA OH raised its position in shares of Schlumberger by 2.6% during the 1st quarter. Trust Co. of Toledo NA OH now owns 69,550 shares of the oil and gas company's stock worth $2,907,000 after purchasing an additional 1,792 shares during the period. Hedge funds and other institutional investors own 81.99% of the company's stock.
Wall Street Analysts Forecast Growth
A number of research analysts recently issued reports on SLB shares. Piper Sandler reduced their price objective on Schlumberger from $46.00 to $44.00 and set a "neutral" rating for the company in a research report on Tuesday, April 29th. Jefferies Financial Group cut their target price on Schlumberger from $60.00 to $59.00 and set a "buy" rating on the stock in a research note on Thursday, March 27th. Morgan Stanley lowered their price target on shares of Schlumberger from $50.00 to $45.00 and set an "overweight" rating for the company in a research report on Friday, May 16th. Wells Fargo & Company cut their price objective on shares of Schlumberger from $46.00 to $43.00 and set an "overweight" rating on the stock in a research report on Thursday, June 5th. Finally, Barclays decreased their target price on shares of Schlumberger from $53.00 to $48.00 and set an "overweight" rating for the company in a research report on Friday, April 25th. Four analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Schlumberger presently has a consensus rating of "Moderate Buy" and an average target price of $52.38.
View Our Latest Stock Analysis on SLB
Insider Activity
In other news, Director La Chevardiere Patrick De sold 5,000 shares of Schlumberger stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $33.58, for a total transaction of $167,900.00. Following the completion of the sale, the director now directly owns 23,525 shares in the company, valued at $789,969.50. The trade was a 17.53% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Aparna Raman sold 25,133 shares of the 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 transaction, the insider now owns 31,031 shares in the company, valued at approximately $1,311,990.68. This trade represents a 44.75% decrease in their position. The disclosure for this sale can be found here. 0.26% of the stock is currently owned by corporate insiders.
Schlumberger Trading Down 0.6%
Shares of NYSE:SLB traded down $0.23 during midday trading on Thursday, reaching $35.85. The company had a trading volume of 17,576,558 shares, compared to its average volume of 13,593,607. The company has a fifty day simple moving average of $34.43 and a two-hundred day simple moving average of $38.22. The firm has a market cap of $48.76 billion, a price-to-earnings ratio of 12.15, a price-to-earnings-growth ratio of 9.35 and a beta of 1.01. Schlumberger Limited has a 1-year low of $31.11 and a 1-year high of $50.94. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.93 and a current ratio of 1.24.
Schlumberger (NYSE:SLB - Get Free Report) last issued its quarterly earnings results on Friday, April 25th. The oil and gas company reported $0.72 EPS for the quarter, missing the consensus estimate of $0.73 by ($0.01). Schlumberger had a net margin of 11.62% and a return on equity of 21.76%. The firm had revenue of $8.49 billion during the quarter, compared to analysts' expectations of $8.64 billion. During the same quarter last year, the company posted $0.75 EPS. The firm's revenue was down 2.5% compared to the same quarter last year. Research analysts predict that Schlumberger Limited will post 3.38 earnings per share for the current year.
Schlumberger Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 10th. Stockholders of record on Wednesday, June 4th will be given a $0.285 dividend. The ex-dividend date of this dividend is Wednesday, June 4th. This represents a $1.14 annualized dividend and a dividend yield of 3.18%. Schlumberger's dividend payout ratio (DPR) is presently 38.64%.
About Schlumberger
(
Free Report)
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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