Davis Capital Management Acquires Shares of 22,345 Schlumberger Limited (NYSE:SLB)

Davis Capital Management bought a new position in Schlumberger Limited (NYSE:SLB) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 22,345 shares of the oil and gas company’s stock, valued at approximately $934,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. YANKCOM Partnership acquired a new position in Schlumberger during the 4th quarter worth approximately $31,000. Stonebridge Financial Group LLC acquired a new stake in Schlumberger in the fourth quarter valued at approximately $32,000. Golden State Wealth Management LLC purchased a new stake in shares of Schlumberger during the fourth quarter valued at approximately $34,000. Hager Investment Management Services LLC acquired a new position in shares of Schlumberger during the fourth quarter worth $38,000. Finally, True Wealth Design LLC lifted its position in shares of Schlumberger by 584.7% during the fourth quarter. True Wealth Design LLC now owns 986 shares of the oil and gas company’s stock worth $38,000 after purchasing an additional 842 shares in the last quarter. Hedge funds and other institutional investors own 81.99% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on SLB shares. Stifel Nicolaus lowered their price target on shares of Schlumberger from $58.00 to $54.00 and set a “buy” rating for the company in a report on Monday, April 28th. Morgan Stanley decreased their price objective 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. Susquehanna dropped their target price on Schlumberger from $48.00 to $46.00 and set a “positive” rating on the stock in a research report on Monday, April 28th. Piper Sandler cut 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. Finally, Barclays reduced their price target on Schlumberger from $53.00 to $48.00 and set an “overweight” rating for the company in a report on Friday, April 25th. Five analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $52.38.

Insider Transactions at Schlumberger

In related news, insider Aparna Raman sold 25,133 shares of the company’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 represents a 44.75% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director La Chevardiere Patrick De sold 5,000 shares of the stock in a transaction on Thursday, May 22nd. The stock was sold at an average price of $33.58, for a total value 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. This represents a 17.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.26% of the company’s stock.

Schlumberger Stock Performance

SLB stock opened at $33.07 on Friday. The stock’s 50 day simple moving average is $34.60 and its 200 day simple moving average is $38.74. Schlumberger Limited has a 12-month low of $31.11 and a 12-month high of $50.94. The firm has a market cap of $44.98 billion, a P/E ratio of 10.63, a P/E/G ratio of 10.10 and a beta of 1.06. The company has a current ratio of 1.45, a quick ratio of 1.11 and a debt-to-equity ratio of 0.49.

Schlumberger (NYSE:SLB) last posted 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). The business had revenue of $8.49 billion during the quarter, compared to analyst estimates of $8.64 billion. Schlumberger had a net margin of 12.29% and a return on equity of 21.90%. The company’s quarterly revenue was down 2.5% on a year-over-year basis. During the same period last year, the firm posted $0.75 earnings per share. As a group, equities research analysts predict that Schlumberger Limited will post 3.38 EPS for the current year.

Schlumberger Dividend Announcement

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

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.