Premier Path Wealth Partners LLC Has $406,000 Stake in Schlumberger Limited (NYSE:SLB)

Premier Path Wealth Partners LLC trimmed its holdings in Schlumberger Limited (NYSE:SLB) by 5.1% in the first quarter, Holdings Channel reports. The institutional investor owned 9,705 shares of the oil and gas company’s stock after selling 526 shares during the period. Premier Path Wealth Partners LLC’s holdings in Schlumberger were worth $406,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. TCW Group Inc. lifted its position in 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 acquiring an additional 259 shares in the last quarter. Vident Advisory LLC lifted its position in shares of Schlumberger by 1.0% during the 4th quarter. Vident Advisory LLC now owns 27,838 shares of the oil and gas company’s stock worth $1,067,000 after buying an additional 273 shares in the last quarter. Glen Eagle Advisors LLC lifted its position in shares of Schlumberger by 3.7% during the 4th quarter. Glen Eagle Advisors LLC now owns 7,843 shares of the oil and gas company’s stock worth $301,000 after buying an additional 282 shares in the last quarter. Cromwell Holdings LLC increased its stake in shares of Schlumberger by 7.0% during the 4th quarter. Cromwell Holdings LLC now owns 4,350 shares of the oil and gas company’s stock worth $167,000 after purchasing an additional 283 shares during the last quarter. Finally, Pinnacle Financial Partners Inc increased its stake in shares of Schlumberger by 0.5% during the 4th quarter. Pinnacle Financial Partners Inc now owns 67,161 shares of the oil and gas company’s stock worth $2,774,000 after purchasing an additional 309 shares during the last quarter. 81.99% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages have recently issued reports on SLB. Susquehanna decreased their price target on shares of Schlumberger from $48.00 to $46.00 and set a “positive” rating for the company in a research note on Monday, April 28th. Piper Sandler reduced their price target on shares of Schlumberger from $46.00 to $44.00 and set a “neutral” rating for the company in a research report on Tuesday, April 29th. Jefferies Financial Group reduced their price target on shares of Schlumberger from $60.00 to $59.00 and set a “buy” rating for the company in a research report on Thursday, March 27th. Barclays dropped their price objective on shares of Schlumberger from $53.00 to $48.00 and set an “overweight” rating for the company in a report on Friday, April 25th. Finally, Morgan Stanley lowered their price target on shares of Schlumberger from $50.00 to $45.00 and set an “overweight” rating for the company in a research note on Friday, May 16th. Four equities 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, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $52.38.

Insiders Place Their Bets

In related news, insider Aparna Raman sold 25,133 shares of the stock in a transaction that occurred on Friday, March 28th. The shares were sold at an average price of $42.28, for a total transaction of $1,062,623.24. Following the transaction, the insider now owns 31,031 shares in the company, valued at $1,311,990.68. This represents a 44.75% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director La Chevardiere Patrick De sold 5,000 shares of the 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 transaction, the director now owns 23,525 shares in the company, valued at approximately $789,969.50. This trade represents a 17.53% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.26% of the company’s stock.

Schlumberger Price Performance

Shares of NYSE SLB opened at $35.85 on Friday. 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 0.51, a current ratio of 1.24 and a quick ratio of 0.93. The company’s 50-day moving average is $34.50 and its 200 day moving average is $38.17. The stock has a market capitalization of $48.76 billion, a P/E ratio of 12.15, a P/E/G ratio of 9.29 and a beta of 1.01.

Schlumberger (NYSE:SLB) last announced 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 company had revenue of $8.49 billion for the quarter, compared to analysts’ expectations of $8.64 billion. Schlumberger had a net margin of 11.62% and a return on equity of 21.76%. Schlumberger’s quarterly revenue was down 2.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.75 EPS. On average, sell-side analysts expect that Schlumberger Limited will post 3.38 earnings per share for the current year.

Schlumberger Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 10th. Shareholders 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 yield of 3.18%. The ex-dividend date of this dividend is Wednesday, June 4th. Schlumberger’s dividend payout ratio (DPR) is presently 38.64%.

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.