Dynamic Advisor Solutions LLC bought a new position in Schlumberger Limited (NYSE:SLB – Get Rating) in the first quarter, Holdings Channel reports. The institutional investor bought 18,047 shares of the oil and gas company’s stock, valued at approximately $746,000.
A number of other large investors have also recently added to or reduced their stakes in the stock. Veriti Management LLC lifted its position in Schlumberger by 8.4% in the 1st quarter. Veriti Management LLC now owns 39,451 shares of the oil and gas company’s stock worth $1,630,000 after buying an additional 3,041 shares during the last quarter. Maryland State Retirement & Pension System lifted its position in Schlumberger by 1.9% in the first quarter. Maryland State Retirement & Pension System now owns 108,259 shares of the oil and gas company’s stock valued at $4,472,000 after purchasing an additional 2,029 shares during the last quarter. Arden Trust Co lifted its position in Schlumberger by 22.2% in the first quarter. Arden Trust Co now owns 24,710 shares of the oil and gas company’s stock valued at $1,021,000 after purchasing an additional 4,493 shares during the last quarter. Nordea Investment Management AB lifted its position in Schlumberger by 4.1% in the first quarter. Nordea Investment Management AB now owns 863,765 shares of the oil and gas company’s stock valued at $36,114,000 after purchasing an additional 34,258 shares during the last quarter. Finally, Birch Hill Investment Advisors LLC bought a new stake in Schlumberger in the first quarter valued at approximately $235,000. Institutional investors own 76.34% of the company’s stock.
In other Schlumberger news, Director Vijay Kasibhatla sold 20,000 shares of the stock in a transaction dated Friday, May 6th. The stock was sold at an average price of $43.32, for a total value of $866,400.00. Following the transaction, the director now owns 46,529 shares of the company’s stock, valued at $2,015,636.28. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, VP Claudia Jaramillo sold 11,628 shares of the stock in a transaction dated Wednesday, March 30th. The shares were sold at an average price of $43.00, for a total value of $500,004.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 26,579,087 shares of company stock worth $431,340,525. Corporate insiders own 0.28% of the company’s stock.
Schlumberger (NYSE:SLB – Get Rating) last announced its quarterly earnings results on Friday, April 22nd. The oil and gas company reported $0.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.32 by $0.02. The firm had revenue of $5.96 billion for the quarter, compared to the consensus estimate of $5.90 billion. Schlumberger had a return on equity of 14.02% and a net margin of 8.84%. The company’s quarterly revenue was up 14.1% on a year-over-year basis. During the same period in the prior year, the company posted $0.21 earnings per share. On average, sell-side analysts anticipate that Schlumberger Limited will post 1.84 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 14th. Stockholders of record on Wednesday, June 1st will be issued a dividend of $0.175 per share. This is an increase from Schlumberger’s previous quarterly dividend of $0.13. This represents a $0.70 dividend on an annualized basis and a dividend yield of 2.00%. The ex-dividend date of this dividend is Tuesday, May 31st. Schlumberger’s dividend payout ratio is presently 47.62%.
Several brokerages have weighed in on SLB. The Goldman Sachs Group upgraded Schlumberger from a “buy” rating to a “conviction-buy” rating in a research report on Tuesday, March 22nd. Piper Sandler upgraded Schlumberger from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $43.00 to $55.00 in a research report on Monday, April 11th. Wells Fargo & Company decreased their target price on Schlumberger from $56.00 to $55.00 and set an “overweight” rating for the company in a report on Monday, April 25th. Morgan Stanley upped their target price on Schlumberger from $43.00 to $50.00 and gave the company an “overweight” rating in a report on Monday, April 11th. Finally, Barclays upped their price target on Schlumberger from $55.00 to $59.00 and gave the stock an “overweight” rating in a research note on Wednesday, June 8th. Two research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $46.85.
Schlumberger Company Profile (Get Rating)
Schlumberger Limited provides technology for the energy industry worldwide. The company operates through four divisions: Digital & Integration, Reservoir Performance, Well Construction, and Production Systems. It offers software, information management, and IT infrastructure services; consulting services for reservoir characterization, field development planning, and production enhancement; petro technical data services and training solutions; reservoir interpretation and data processing services; asset performance solutions; open and cased-hole services; exploration and production pressure and flow-rate measurement services; pressure pumping, well stimulation, and coiled tubing equipment for downhole mechanical well intervention, reservoir monitoring, and downhole data acquisition; and integrated production systems.
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