Schlumberger Limited (NYSE:SLB) Shares Bought by Brown Advisory Inc.

Brown Advisory Inc. boosted its holdings in shares of Schlumberger Limited (NYSE:SLB) by 6.6% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,361,820 shares of the oil and gas company’s stock after purchasing an additional 84,845 shares during the period. Brown Advisory Inc. owned about 0.10% of Schlumberger worth $56,924,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Ninety One UK Ltd acquired a new position in Schlumberger during the first quarter valued at $14,913,000. Alpha Cubed Investments LLC increased its holdings in Schlumberger by 38.6% in the first quarter. Alpha Cubed Investments LLC now owns 284,039 shares of the oil and gas company’s stock valued at $11,873,000 after buying an additional 79,034 shares in the last quarter. Crossmark Global Holdings Inc. increased its holdings in Schlumberger by 1.4% in the first quarter. Crossmark Global Holdings Inc. now owns 223,577 shares of the oil and gas company’s stock valued at $9,345,000 after buying an additional 3,123 shares in the last quarter. U.S. Capital Wealth Advisors LLC increased its holdings in Schlumberger by 13.8% in the first quarter. U.S. Capital Wealth Advisors LLC now owns 164,196 shares of the oil and gas company’s stock valued at $6,863,000 after buying an additional 19,912 shares in the last quarter. Finally, Raleigh Capital Management Inc. increased its holdings in Schlumberger by 91.3% in the first quarter. Raleigh Capital Management Inc. now owns 4,464 shares of the oil and gas company’s stock valued at $187,000 after buying an additional 2,130 shares in the last quarter. 81.99% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Schlumberger

In other news, 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 value of $167,900.00. Following the completion of the sale, the director owned 23,525 shares of the company’s stock, valued at $789,969.50. This represents a 17.53% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 0.26% of the stock is currently owned by company insiders.

Schlumberger Stock Up 4.5%

Shares of NYSE SLB opened at $36.53 on Wednesday. Schlumberger Limited has a 12-month low of $31.11 and a 12-month high of $50.94. The stock has a market cap of $49.69 billion, a PE ratio of 12.38, a P/E/G ratio of 9.20 and a beta of 1.01. The company has a current ratio of 1.24, a quick ratio of 0.93 and a debt-to-equity ratio of 0.51. The company has a 50-day moving average of $34.60 and a 200 day moving average of $37.65.

Schlumberger (NYSE:SLB) last announced its quarterly earnings data 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). Schlumberger had a net margin of 11.62% and a return on equity of 21.76%. The business 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 company posted $0.75 EPS. The firm’s revenue was down 2.5% on a year-over-year basis. As a group, sell-side analysts predict that Schlumberger Limited will post 3.38 EPS for the current fiscal year.

Schlumberger Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 10th. Stockholders of record on Wednesday, June 4th will be paid a $0.285 dividend. The ex-dividend date is Wednesday, June 4th. This represents a $1.14 annualized dividend and a dividend yield of 3.12%. Schlumberger’s dividend payout ratio (DPR) is 38.64%.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on SLB. Piper Sandler cut their price objective on shares of Schlumberger from $46.00 to $44.00 and set a “neutral” rating for the company in a report on Tuesday, April 29th. Jefferies Financial Group cut their price objective on shares of Schlumberger from $54.00 to $53.00 and set a “buy” rating for the company in a report on Thursday, June 26th. Susquehanna cut their price objective on shares of Schlumberger from $46.00 to $44.00 and set a “positive” rating for the company in a report on Tuesday, July 1st. Atb Cap Markets raised shares of Schlumberger from a “hold” rating to a “strong-buy” rating in a report on Tuesday, July 1st. Finally, UBS Group lifted their price objective on shares of Schlumberger from $44.00 to $45.00 and gave the company a “buy” rating in a report on Wednesday, July 2nd. Three investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $50.85.

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.