McGinn Penninger Investment Management Inc. Boosts Stock Position in Schlumberger Limited (NYSE:SLB)

McGinn Penninger Investment Management Inc. grew its position in Schlumberger Limited (NYSE:SLB) by 4.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 91,630 shares of the oil and gas company’s stock after buying an additional 3,875 shares during the period. Schlumberger accounts for approximately 2.5% of McGinn Penninger Investment Management Inc.’s investment portfolio, making the stock its 19th largest position. McGinn Penninger Investment Management Inc.’s holdings in Schlumberger were worth $3,830,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Aaron Wealth Advisors LLC acquired a new stake in shares of Schlumberger in the first quarter valued at $208,000. WCM Investment Management LLC raised its stake in Schlumberger by 33.8% in the first quarter. WCM Investment Management LLC now owns 49,655 shares of the oil and gas company’s stock valued at $2,080,000 after buying an additional 12,539 shares in the last quarter. Keybank National Association OH boosted its holdings in Schlumberger by 4.4% in the first quarter. Keybank National Association OH now owns 115,699 shares of the oil and gas company’s stock valued at $4,836,000 after purchasing an additional 4,873 shares in the last quarter. Rossby Financial LCC purchased a new position in Schlumberger in the first quarter valued at approximately $268,000. Finally, DAVENPORT & Co LLC raised its holdings in Schlumberger by 7.3% during the first quarter. DAVENPORT & Co LLC now owns 2,001,115 shares of the oil and gas company’s stock worth $83,688,000 after purchasing an additional 136,752 shares in the last quarter. Institutional investors and hedge funds own 81.99% of the company’s stock.

Schlumberger Trading Up 4.1%

SLB opened at $35.17 on Wednesday. The firm’s 50 day moving average is $34.46 and its 200-day moving average is $37.73. The firm has a market capitalization of $47.84 billion, a P/E ratio of 11.92, a P/E/G ratio of 8.85 and a beta of 1.01. Schlumberger Limited has a 52-week low of $31.11 and a 52-week high of $50.94. The company has a quick ratio of 0.93, a current ratio of 1.24 and a debt-to-equity ratio of 0.51.

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 the consensus estimate of $0.73 by ($0.01). The business had revenue of $8.49 billion for the quarter, compared to analysts’ expectations of $8.64 billion. Schlumberger had a return on equity of 21.76% and a net margin of 11.62%. Schlumberger’s revenue for the quarter was down 2.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.75 earnings per share. Analysts expect that Schlumberger Limited will post 3.38 EPS 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. The ex-dividend date of this dividend is Wednesday, June 4th. This represents a $1.14 dividend on an annualized basis and a yield of 3.24%. Schlumberger’s dividend payout ratio (DPR) is 38.64%.

Insiders Place Their Bets

In other news, Director La Chevardiere Patrick De sold 5,000 shares of Schlumberger 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 completion of the transaction, the director owned 23,525 shares in the company, valued at approximately $789,969.50. This trade represents a 17.53% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.26% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Piper Sandler cut their target price on Schlumberger from $46.00 to $44.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 29th. Morgan Stanley reduced their price target on shares of Schlumberger from $50.00 to $45.00 and set an “overweight” rating for the company in a research report on Friday, May 16th. JPMorgan Chase & Co. dropped their target price on shares of Schlumberger from $46.00 to $44.00 and set an “overweight” rating for the company in a report on Monday. Susquehanna decreased their price objective on Schlumberger from $46.00 to $44.00 and set a “positive” rating on the stock in a research note on Tuesday. Finally, Stifel Nicolaus reduced their price target on Schlumberger from $58.00 to $54.00 and set a “buy” rating on the stock in a research note on Monday, April 28th. Four research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $51.56.

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.