Schlumberger Limited (NYSE:SLB) Shares Acquired by Clifford Swan Investment Counsel LLC

Clifford Swan Investment Counsel LLC grew its stake in shares of Schlumberger Limited (NYSE:SLB) by 16.7% in the first quarter, according to its most recent filing with the SEC. The fund owned 531,616 shares of the oil and gas company’s stock after acquiring an additional 75,952 shares during the period. Clifford Swan Investment Counsel LLC’s holdings in Schlumberger were worth $22,222,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. First Command Advisory Services Inc. boosted its stake in Schlumberger by 300.0% in the 1st quarter. First Command Advisory Services Inc. now owns 636 shares of the oil and gas company’s stock worth $27,000 after purchasing an additional 477 shares during the period. Alpine Bank Wealth Management acquired a new position in shares of Schlumberger in the first quarter worth $34,000. Park Square Financial Group LLC acquired a new position in shares of Schlumberger in the first quarter worth $38,000. Sound Income Strategies LLC increased its stake in shares of Schlumberger by 265.4% in 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, True Wealth Design LLC raised its position in 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 acquiring an additional 842 shares in the last quarter. 81.99% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director La Chevardiere Patrick De sold 5,000 shares of the stock in a transaction dated Thursday, May 22nd. The shares were sold at an average price of $33.58, for a total value of $167,900.00. Following the sale, the director directly owned 23,525 shares of the company’s stock, valued at approximately $789,969.50. This represents a 17.53% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.26% of the stock is owned by insiders.

Schlumberger Price Performance

Shares of SLB stock traded up $0.77 on Monday, reaching $34.09. The company had a trading volume of 2,525,645 shares, compared to its average volume of 14,257,527. The stock has a market capitalization of $46.37 billion, a PE ratio of 11.70, a price-to-earnings-growth ratio of 8.98 and a beta of 1.01. The company has a quick ratio of 0.98, a current ratio of 1.31 and a debt-to-equity ratio of 0.51. Schlumberger Limited has a one year low of $31.11 and a one year high of $50.52. The business’s 50-day moving average is $34.86 and its 200 day moving average is $37.52.

Schlumberger (NYSE:SLB) last posted its quarterly earnings results on Friday, July 18th. The oil and gas company reported $0.74 earnings per share for the quarter, beating the consensus estimate of $0.73 by $0.01. The firm had revenue of $8.55 billion during the quarter, compared to the consensus estimate of $8.51 billion. Schlumberger had a net margin of 11.53% and a return on equity of 20.99%. The business’s revenue was down 6.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.85 earnings per share. Equities research analysts forecast that Schlumberger Limited will post 3.38 EPS for the current fiscal year.

Schlumberger Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 9th. Stockholders of record on Wednesday, September 3rd will be given a $0.285 dividend. This represents a $1.14 annualized dividend and a dividend yield of 3.34%. Schlumberger’s dividend payout ratio (DPR) is presently 38.64%.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. UBS Group raised their price objective on shares of Schlumberger from $44.00 to $45.00 and gave the company a “buy” rating in a research report on Wednesday, July 2nd. JPMorgan Chase & Co. lowered their price target on Schlumberger from $46.00 to $44.00 and set an “overweight” rating on the stock in a report on Monday, June 30th. Barclays lowered their price target on Schlumberger from $48.00 to $47.00 and set an “overweight” rating on the stock in a report on Thursday, July 10th. Stifel Nicolaus lowered their price target on Schlumberger from $54.00 to $52.00 and set a “buy” rating on the stock in a report on Wednesday, July 16th. Finally, Wells Fargo & Company downgraded shares of Schlumberger from a “buy” rating to an “equal weight” rating in a research note on Sunday. Four research analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $50.56.

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.