Nemes Rush Group LLC Boosts Stake in Schlumberger Limited (NYSE:SLB)

Nemes Rush Group LLC lifted its holdings in Schlumberger Limited (NYSE:SLB) by 6.7% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 29,366 shares of the oil and gas company’s stock after buying an additional 1,852 shares during the period. Nemes Rush Group LLC’s holdings in Schlumberger were worth $1,227,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Vident Advisory LLC grew its stake in shares of Schlumberger by 1.0% in the fourth quarter. Vident Advisory LLC now owns 27,838 shares of the oil and gas company’s stock worth $1,067,000 after acquiring an additional 273 shares during the last quarter. Glen Eagle Advisors LLC boosted its stake in Schlumberger by 3.7% in the 4th quarter. Glen Eagle Advisors LLC now owns 7,843 shares of the oil and gas company’s stock worth $301,000 after purchasing an additional 282 shares in the last quarter. Heritage Wealth Management Inc. Texas boosted its stake in Schlumberger by 2.2% in the 1st quarter. Heritage Wealth Management Inc. Texas now owns 14,736 shares of the oil and gas company’s stock worth $616,000 after purchasing an additional 318 shares in the last quarter. Wahed Invest LLC grew its position in Schlumberger by 0.9% during the 4th quarter. Wahed Invest LLC now owns 35,022 shares of the oil and gas company’s stock valued at $1,343,000 after purchasing an additional 319 shares during the last quarter. Finally, Financial Management Professionals Inc. increased its stake in Schlumberger by 2.0% during the 1st quarter. Financial Management Professionals Inc. now owns 16,851 shares of the oil and gas company’s stock valued at $704,000 after purchasing an additional 336 shares in the last quarter. Hedge funds and other institutional investors own 81.99% of the company’s stock.

Insider Activity

In other news, Director La Chevardiere Patrick De sold 5,000 shares of the firm’s stock in a transaction 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 sale, the director directly owned 23,525 shares in the company, valued at $789,969.50. This trade represents a 17.53% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.26% of the stock is currently owned by company insiders.

Schlumberger Stock Performance

NYSE:SLB opened at $35.48 on Friday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.98 and a current ratio of 1.31. The stock has a 50-day simple moving average of $34.75 and a two-hundred day simple moving average of $37.39. The firm has a market capitalization of $48.26 billion, a PE ratio of 12.15, a P/E/G ratio of 9.77 and a beta of 1.01. Schlumberger Limited has a 52-week low of $31.11 and a 52-week high of $49.31.

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

Schlumberger Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 9th. Shareholders of record on Wednesday, September 3rd will be given a $0.285 dividend. The ex-dividend date is Wednesday, September 3rd. This represents a $1.14 dividend on an annualized basis and a dividend yield of 3.21%. Schlumberger’s payout ratio is currently 39.04%.

Analyst Ratings Changes

SLB has been the subject of several recent analyst reports. Wells Fargo & Company cut shares of Schlumberger from a “buy” rating to an “equal weight” rating in a report on Sunday, July 20th. Jefferies Financial Group decreased 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. Piper Sandler lowered their price objective on Schlumberger from $44.00 to $42.00 and set a “neutral” rating on the stock in a research report on Friday, July 18th. Atb Cap Markets upgraded Schlumberger from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, July 1st. Finally, Barclays decreased their price target on Schlumberger from $47.00 to $46.00 and set an “overweight” rating for the company in a research note on Monday, July 21st. Four equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $49.28.

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.