Daymark Wealth Partners LLC Buys 467 Shares of Schlumberger Limited (NYSE:SLB)

Daymark Wealth Partners LLC boosted its stake in shares of Schlumberger Limited (NYSE:SLB) by 4.7% in the first quarter, Holdings Channel reports. The institutional investor owned 10,338 shares of the oil and gas company’s stock after purchasing an additional 467 shares during the period. Daymark Wealth Partners LLC’s holdings in Schlumberger were worth $432,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in SLB. Stonebridge Financial Group LLC bought a new position in Schlumberger during the 4th quarter valued at approximately $32,000. Golden State Wealth Management LLC bought a new stake in shares of Schlumberger in the 4th quarter worth $34,000. True Wealth Design LLC increased its holdings in shares of Schlumberger by 584.7% in the 4th 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. Bogart Wealth LLC increased its holdings in shares of Schlumberger by 468.9% in the 4th quarter. Bogart Wealth LLC now owns 1,024 shares of the oil and gas company’s stock worth $39,000 after purchasing an additional 844 shares in the last quarter. Finally, Mpwm Advisory Solutions LLC bought a new stake in shares of Schlumberger in the 4th quarter worth $40,000. Institutional investors own 81.99% of the company’s stock.

Insider Buying and Selling at Schlumberger

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 value of $167,900.00. Following the sale, the director now directly owns 23,525 shares of the company’s stock, valued at approximately $789,969.50. The trade was a 17.53% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Aparna Raman sold 25,133 shares of Schlumberger stock in a transaction dated Friday, March 28th. The stock was sold at an average price of $42.28, for a total value of $1,062,623.24. Following the completion of the sale, the insider now directly owns 31,031 shares in the company, valued at $1,311,990.68. This trade represents a 44.75% 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 Price Performance

NYSE SLB opened at $35.52 on Wednesday. The company has a market capitalization of $48.31 billion, a PE ratio of 11.42, a price-to-earnings-growth ratio of 10.10 and a beta of 1.01. 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 business’s fifty day moving average is $34.20 and its 200 day moving average is $38.51. Schlumberger Limited has a fifty-two week low of $31.11 and a fifty-two week high of $50.94.

Schlumberger (NYSE:SLB) last released its earnings results on Friday, April 25th. The oil and gas company reported $0.72 earnings per share for the quarter, missing the consensus estimate of $0.73 by ($0.01). The company had revenue of $8.49 billion for the quarter, compared to analysts’ expectations of $8.64 billion. Schlumberger had a net margin of 12.29% and a return on equity of 21.90%. Schlumberger’s revenue for the quarter was down 2.5% on a year-over-year basis. During the same quarter last year, the firm posted $0.75 earnings per share. Sell-side analysts predict that Schlumberger Limited will post 3.38 earnings per share for the current year.

Schlumberger Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 10th. Shareholders of record on Wednesday, June 4th will be issued a dividend of $0.285 per share. The ex-dividend date is Wednesday, June 4th. This represents a $1.14 dividend on an annualized basis and a yield of 3.21%. Schlumberger’s dividend payout ratio is presently 38.64%.

Wall Street Analyst Weigh In

SLB has been the subject of a number of research analyst reports. Morgan Stanley reduced their target price on Schlumberger from $50.00 to $45.00 and set an “overweight” rating for the company in a report on Friday, May 16th. Susquehanna reduced their target price on Schlumberger from $48.00 to $46.00 and set a “positive” rating for the company in a report on Monday, April 28th. Wells Fargo & Company reduced their target price on Schlumberger from $46.00 to $43.00 and set an “overweight” rating for the company in a report on Thursday, June 5th. Stifel Nicolaus reduced their target price on Schlumberger from $58.00 to $54.00 and set a “buy” rating for the company in a report on Monday, April 28th. Finally, Jefferies Financial Group reduced their target price on Schlumberger from $60.00 to $59.00 and set a “buy” rating for the company in a report on Thursday, March 27th. Four investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $52.38.

Schlumberger Company 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.