Sowell Financial Services LLC Acquires 5,313 Shares of Schlumberger Limited (NYSE:SLB)

Sowell Financial Services LLC lifted its holdings in shares of Schlumberger Limited (NYSE:SLB) by 23.2% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 28,248 shares of the oil and gas company’s stock after purchasing an additional 5,313 shares during the period. Sowell Financial Services LLC’s holdings in Schlumberger were worth $1,181,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. TCW Group Inc. grew its holdings in shares of Schlumberger by 1.3% in the fourth quarter. TCW Group Inc. now owns 19,797 shares of the oil and gas company’s stock worth $759,000 after purchasing an additional 259 shares during the last quarter. Vident Advisory LLC grew its holdings in Schlumberger by 1.0% in the 4th 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 grew its holdings 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 acquiring an additional 282 shares during the last quarter. Cromwell Holdings LLC grew its holdings in Schlumberger by 7.0% in the 4th quarter. Cromwell Holdings LLC now owns 4,350 shares of the oil and gas company’s stock worth $167,000 after acquiring an additional 283 shares during the last quarter. Finally, Laidlaw Wealth Management LLC grew its stake in shares of Schlumberger by 1.3% in the fourth quarter. Laidlaw Wealth Management LLC now owns 23,085 shares of the oil and gas company’s stock worth $885,000 after purchasing an additional 305 shares during the last quarter. 81.99% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms recently issued reports on SLB. Jefferies Financial Group cut their target price on Schlumberger from $60.00 to $59.00 and set a “buy” rating on the stock in a research note on Thursday, March 27th. Piper Sandler cut their price objective on Schlumberger from $46.00 to $44.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 29th. Stifel Nicolaus cut their price target on shares of Schlumberger from $58.00 to $54.00 and set a “buy” rating on the stock in a report on Monday, April 28th. Wells Fargo & Company cut their price target on shares of Schlumberger from $46.00 to $43.00 and set an “overweight” rating on the stock in a report on Thursday, June 5th. Finally, Barclays cut their target price 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. Four equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $52.38.

Schlumberger Stock Performance

Shares of SLB opened at $36.14 on Wednesday. The company has a quick ratio of 0.93, a current ratio of 1.24 and a debt-to-equity ratio of 0.51. The business’s 50 day moving average price is $34.44 and its 200-day moving average price is $38.24. Schlumberger Limited has a 52 week low of $31.11 and a 52 week high of $50.94. The stock has a market cap of $49.16 billion, a P/E ratio of 12.25, a P/E/G ratio of 9.30 and a beta of 1.01.

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

Schlumberger Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 10th. Investors of record on Wednesday, June 4th will be paid a $0.285 dividend. This represents a $1.14 dividend on an annualized basis and a yield of 3.15%. The ex-dividend date of this dividend is Wednesday, June 4th. Schlumberger’s payout ratio is 38.64%.

Insider Buying and Selling

In related news, Director La Chevardiere Patrick De sold 5,000 shares of the company’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 value of $167,900.00. Following the transaction, the director now directly owns 23,525 shares of the company’s stock, valued at approximately $789,969.50. This represents a 17.53% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Aparna Raman sold 25,133 shares of the company’s stock in a transaction that occurred on 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 completion of the transaction, the insider now directly owns 31,031 shares in the company, valued at $1,311,990.68. This trade 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.