Silvercrest Asset Management Group LLC Purchases 12,284 Shares of Schlumberger Limited (NYSE:SLB)

Silvercrest Asset Management Group LLC raised its position in Schlumberger Limited (NYSE:SLB) by 18.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 78,990 shares of the oil and gas company’s stock after buying an additional 12,284 shares during the quarter. Silvercrest Asset Management Group LLC’s holdings in Schlumberger were worth $3,028,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in SLB. Norges Bank bought a new stake in shares of Schlumberger in the fourth quarter valued at $735,398,000. Pacer Advisors Inc. raised its stake in shares of Schlumberger by 12,289.6% in the fourth quarter. Pacer Advisors Inc. now owns 13,043,359 shares of the oil and gas company’s stock valued at $500,082,000 after buying an additional 12,938,082 shares during the period. Price T Rowe Associates Inc. MD raised its stake in shares of Schlumberger by 7.4% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 75,986,195 shares of the oil and gas company’s stock valued at $2,913,312,000 after purchasing an additional 5,225,828 shares during the period. Lazard Asset Management LLC raised its stake in shares of Schlumberger by 3,112.1% during the 4th quarter. Lazard Asset Management LLC now owns 3,627,051 shares of the oil and gas company’s stock valued at $139,059,000 after purchasing an additional 3,514,134 shares during the period. Finally, Deutsche Bank AG raised its stake in shares of Schlumberger by 12.2% during the 4th quarter. Deutsche Bank AG now owns 28,737,703 shares of the oil and gas company’s stock valued at $1,101,804,000 after purchasing an additional 3,119,543 shares during the period. 81.99% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on SLB shares. Barclays decreased their price objective on Schlumberger from $53.00 to $48.00 and set an “overweight” rating on the stock in a research note on Friday, April 25th. Morgan Stanley decreased their price objective on Schlumberger from $50.00 to $45.00 and set an “overweight” rating on the stock in a research note on Friday. TD Cowen boosted their price objective on Schlumberger from $53.00 to $55.00 and gave the company a “buy” rating in a research note on Tuesday, January 21st. Citigroup boosted their price objective on Schlumberger from $50.00 to $54.00 and gave the company a “buy” rating in a research note on Tuesday, January 21st. Finally, Piper Sandler decreased their price objective on Schlumberger from $46.00 to $44.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 29th. Five analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $52.44.

Schlumberger Price Performance

SLB opened at $35.10 on Tuesday. The stock has a 50-day moving average price of $36.64 and a 200-day moving average price of $39.53. Schlumberger Limited has a 12-month low of $31.11 and a 12-month high of $50.94. The company has a current ratio of 1.45, a quick ratio of 1.11 and a debt-to-equity ratio of 0.49. The stock has a market capitalization of $47.74 billion, a P/E ratio of 11.29, a PEG ratio of 10.10 and a beta of 1.06.

Schlumberger (NYSE:SLB) last posted its quarterly earnings data on Friday, April 25th. The oil and gas company reported $0.72 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.01). Schlumberger had a return on equity of 21.90% and a net margin of 12.29%. The firm had revenue of $8.49 billion during the quarter, compared to analysts’ expectations of $8.64 billion. During the same quarter in the previous year, the company posted $0.75 earnings per share. Schlumberger’s revenue for the quarter was down 2.5% compared to the same quarter last year. Equities analysts predict that Schlumberger Limited will post 3.38 earnings per share for the current fiscal year.

Schlumberger Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 10th. Investors of record on Wednesday, June 4th will be issued a dividend of $0.285 per share. This represents a $1.14 annualized dividend and a yield of 3.25%. The ex-dividend date is Wednesday, June 4th. Schlumberger’s dividend payout ratio is presently 38.64%.

Insider Activity at Schlumberger

In related news, insider Gavin Rennick sold 26,990 shares of the stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $40.92, for a total transaction of $1,104,430.80. Following the completion of the sale, the insider now directly owns 53,584 shares in the company, valued at $2,192,657.28. This represents a 33.50% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Aparna Raman sold 25,133 shares of the stock in a transaction dated Friday, March 28th. The shares were sold at an average price of $42.28, for a total value of $1,062,623.24. Following the sale, the insider now owns 31,031 shares of the company’s stock, valued at $1,311,990.68. This represents a 44.75% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.26% of the stock is currently owned by company insiders.

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.