Barnes Dennig Private Wealth Management LLC Purchases Shares of 15,872 Schlumberger Limited (NYSE:SLB)

Barnes Dennig Private Wealth Management LLC acquired a new stake in Schlumberger Limited (NYSE:SLB) during the 1st quarter, Holdings Channel reports. The firm acquired 15,872 shares of the oil and gas company’s stock, valued at approximately $663,000. Schlumberger comprises approximately 1.0% of Barnes Dennig Private Wealth Management LLC’s portfolio, making the stock its 27th largest position.

Several other institutional investors have also recently made changes to their positions in the business. Alpine Bank Wealth Management purchased a new position in Schlumberger in the 1st quarter worth approximately $34,000. True Wealth Design LLC raised 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 valued at $38,000 after buying an additional 842 shares during the last quarter. Mpwm Advisory Solutions LLC purchased a new position in shares of Schlumberger in the fourth quarter worth $40,000. Sound Income Strategies LLC boosted its position in shares of Schlumberger by 265.4% during the first quarter. Sound Income Strategies LLC now owns 961 shares of the oil and gas company’s stock worth $40,000 after acquiring an additional 698 shares during the last quarter. Finally, J.Safra Asset Management Corp purchased a new position in Schlumberger during the fourth quarter valued at $46,000. Hedge funds and other institutional investors own 81.99% of the company’s stock.

Schlumberger Stock Down 0.5%

NYSE SLB opened at $33.83 on Tuesday. The company has a quick ratio of 0.93, a current ratio of 1.24 and a debt-to-equity ratio of 0.51. Schlumberger Limited has a 52 week low of $31.11 and a 52 week high of $50.94. The firm has a market capitalization of $46.01 billion, a price-to-earnings ratio of 11.47, a PEG ratio of 8.86 and a beta of 1.02. The company has a fifty day moving average of $34.45 and a two-hundred day moving average of $37.75.

Schlumberger (NYSE:SLB) last released its quarterly earnings results on Friday, April 25th. The oil and gas company reported $0.72 EPS for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.01). Schlumberger had a return on equity of 21.76% and a net margin of 11.62%. The firm had revenue of $8.49 billion for the quarter, compared to analysts’ expectations of $8.64 billion. During the same period in the prior year, the firm posted $0.75 earnings per share. Schlumberger’s revenue for the quarter was down 2.5% on a year-over-year basis. On average, analysts predict that Schlumberger Limited will post 3.38 earnings per share for the current year.

Schlumberger Announces Dividend

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

Insider Activity at Schlumberger

In related news, Director La Chevardiere Patrick De sold 5,000 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the director directly owned 23,525 shares of the company’s stock, valued at approximately $789,969.50. This trade represents a 17.53% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.26% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Barclays decreased their price target on shares of Schlumberger from $53.00 to $48.00 and set an “overweight” rating on the stock in a research note on Friday, April 25th. JPMorgan Chase & Co. dropped their price target on Schlumberger from $46.00 to $44.00 and set an “overweight” rating for the company in a research note on Monday. Piper Sandler cut their price target on Schlumberger from $46.00 to $44.00 and set a “neutral” rating for the company in a report on Tuesday, April 29th. Susquehanna decreased their price objective on Schlumberger from $48.00 to $46.00 and set a “positive” rating on the stock in a report on Monday, April 28th. Finally, Stifel Nicolaus cut their target price 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. Four analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $51.68.

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.