Fifth Third Wealth Advisors LLC Grows Position in Schlumberger Limited (NYSE:SLB)

Fifth Third Wealth Advisors LLC raised its holdings in shares of Schlumberger Limited (NYSE:SLBFree Report) by 10.0% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 29,337 shares of the oil and gas company’s stock after buying an additional 2,661 shares during the quarter. Fifth Third Wealth Advisors LLC’s holdings in Schlumberger were worth $1,226,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the business. Price T Rowe Associates Inc. MD grew its holdings in shares of Schlumberger by 7.4% during the fourth 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 in the last quarter. Geode Capital Management LLC boosted its position in shares of Schlumberger by 4.8% during the 4th quarter. Geode Capital Management LLC now owns 29,985,360 shares of the oil and gas company’s stock valued at $1,146,195,000 after acquiring an additional 1,377,134 shares during the last quarter. Deutsche Bank AG boosted its position in shares of Schlumberger by 12.2% during the 4th 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. First Eagle Investment Management LLC boosted its position in shares of Schlumberger by 1.2% during the 4th quarter. First Eagle Investment Management LLC now owns 27,836,555 shares of the oil and gas company’s stock valued at $1,067,254,000 after acquiring an additional 343,261 shares during the last quarter. Finally, Norges Bank acquired a new position in shares of Schlumberger during the 4th quarter valued at about $735,398,000. Hedge funds and other institutional investors own 81.99% of the company’s stock.

Schlumberger Stock Down 2.0%

Shares of SLB opened at $33.02 on Monday. The stock has a market capitalization of $44.91 billion, a PE ratio of 10.62, 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. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.11 and a current ratio of 1.45. The company’s 50-day simple moving average is $35.29 and its 200-day simple moving average is $38.95.

Schlumberger (NYSE:SLBGet Free Report) last issued its quarterly 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%. The firm’s revenue for the quarter was down 2.5% compared to the same quarter last year. During the same period in the prior year, the company posted $0.75 EPS. Analysts forecast that Schlumberger Limited will post 3.38 earnings per share for the current fiscal year.

Schlumberger Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 10th. Stockholders of record on Wednesday, June 4th will be given a dividend of $0.285 per share. The ex-dividend date of this dividend is Wednesday, June 4th. This represents a $1.14 annualized dividend and a dividend yield of 3.45%. Schlumberger’s dividend payout ratio is presently 38.64%.

Insider Transactions at Schlumberger

In related news, Director La Chevardiere Patrick De sold 5,000 shares of the company’s stock in a transaction that occurred 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 sale, the director now directly owns 23,525 shares in the company, valued at approximately $789,969.50. This represents a 17.53% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Aparna Raman sold 25,133 shares of the company’s stock in a transaction that occurred 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 sale, the insider now owns 31,031 shares in the company, valued at $1,311,990.68. The trade was a 44.75% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.26% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Morgan Stanley lowered their price target on shares of Schlumberger from $50.00 to $45.00 and set an “overweight” rating on the stock in a research report on Friday, May 16th. Stifel Nicolaus lowered their price target on shares of Schlumberger from $58.00 to $54.00 and set a “buy” rating on the stock in a research report on Monday, April 28th. Piper Sandler lowered 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. Jefferies Financial Group lowered their price target on shares of Schlumberger from $60.00 to $59.00 and set a “buy” rating on the stock in a research report on Thursday, March 27th. Finally, Susquehanna lowered their price target on shares of Schlumberger from $48.00 to $46.00 and set a “positive” rating on the stock in a research report on Monday, April 28th. 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 stock. According to data from MarketBeat.com, Schlumberger currently has a consensus rating of “Moderate Buy” and a consensus target price of $52.44.

Read Our Latest Stock Analysis on SLB

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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Institutional Ownership by Quarter for Schlumberger (NYSE:SLB)

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