Godsey & Gibb Inc. Boosts Stake in Schlumberger Limited (NYSE:SLB)

Godsey & Gibb Inc. increased its position in Schlumberger Limited (NYSE:SLB) by 2.4% in the 1st quarter, Holdings Channel reports. The firm owned 449,957 shares of the oil and gas company’s stock after buying an additional 10,622 shares during the period. Godsey & Gibb Inc.’s holdings in Schlumberger were worth $18,808,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also made changes to their positions in the company. TCW Group Inc. lifted its holdings in shares of Schlumberger by 1.3% in the 4th quarter. TCW Group Inc. now owns 19,797 shares of the oil and gas company’s stock valued at $759,000 after purchasing an additional 259 shares during the last quarter. Vident Advisory LLC lifted its holdings in shares of Schlumberger by 1.0% in the 4th quarter. Vident Advisory LLC now owns 27,838 shares of the oil and gas company’s stock valued at $1,067,000 after purchasing an additional 273 shares during the last quarter. Glen Eagle Advisors LLC lifted its holdings in shares of Schlumberger by 3.7% in the 4th quarter. Glen Eagle Advisors LLC now owns 7,843 shares of the oil and gas company’s stock valued at $301,000 after purchasing an additional 282 shares during the last quarter. Cromwell Holdings LLC lifted its holdings in shares of Schlumberger by 7.0% in the 4th quarter. Cromwell Holdings LLC now owns 4,350 shares of the oil and gas company’s stock valued at $167,000 after purchasing an additional 283 shares during the last quarter. Finally, Laidlaw Wealth Management LLC raised its stake in Schlumberger by 1.3% during the 4th quarter. Laidlaw Wealth Management LLC now owns 23,085 shares of the oil and gas company’s stock valued at $885,000 after acquiring an additional 305 shares during the last quarter. 81.99% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have commented on the company. Susquehanna reduced their price objective on Schlumberger from $48.00 to $46.00 and set a “positive” rating for the company in a research note on Monday, April 28th. Morgan Stanley reduced their price objective on Schlumberger from $50.00 to $45.00 and set an “overweight” rating for the company in a research note on Friday, May 16th. Jefferies Financial Group reduced their price objective on Schlumberger from $60.00 to $59.00 and set a “buy” rating for the company in a research note on Thursday, March 27th. Stifel Nicolaus reduced their price objective on Schlumberger from $58.00 to $54.00 and set a “buy” rating for the company in a research note on Monday, April 28th. Finally, 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 note on Tuesday, April 29th. Four research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $52.38.

Schlumberger Stock Performance

Shares of SLB stock opened at $33.87 on Friday. The company has a market cap of $46.07 billion, a price-to-earnings ratio of 10.89, a price-to-earnings-growth ratio of 10.10 and a beta of 1.06. The stock has a 50 day simple moving average of $34.44 and a 200-day simple moving average of $38.67. Schlumberger Limited has a 12-month low of $31.11 and a 12-month high of $50.94. 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 released its quarterly earnings results on Friday, April 25th. The oil and gas company reported $0.72 earnings per share for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.01). The firm had revenue of $8.49 billion during 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 business’s revenue was down 2.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.75 EPS. On average, equities analysts forecast that Schlumberger Limited will post 3.38 EPS for the current year.

Schlumberger Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 10th. Investors of record on Wednesday, June 4th will be issued a $0.285 dividend. This represents a $1.14 dividend on an annualized basis and a dividend yield of 3.37%. The ex-dividend date of this dividend is Wednesday, June 4th. Schlumberger’s dividend payout ratio is currently 38.64%.

Insider Buying and Selling

In other Schlumberger news, 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 transaction of $167,900.00. Following the sale, the director now owns 23,525 shares in the company, valued at approximately $789,969.50. This represents 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 shares were sold at an average price of $42.28, for a total value of $1,062,623.24. Following the sale, 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. Insiders own 0.26% of the company’s stock.

Schlumberger Profile

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.