Tobam Lowers Stock Holdings in Schlumberger Limited (NYSE:SLB)

Tobam lowered its stake in Schlumberger Limited (NYSE:SLB) by 48.0% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,921 shares of the oil and gas company’s stock after selling 2,696 shares during the period. Tobam’s holdings in Schlumberger were worth $122,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Stonebridge Financial Group LLC bought a new stake in Schlumberger in the fourth quarter worth $32,000. True Wealth Design LLC raised its position in shares of Schlumberger by 584.7% in the 4th quarter. True Wealth Design LLC now owns 986 shares of the oil and gas company’s stock worth $38,000 after purchasing an additional 842 shares during the last quarter. Bogart Wealth LLC raised its position in shares of Schlumberger by 468.9% in the 4th quarter. Bogart Wealth LLC now owns 1,024 shares of the oil and gas company’s stock worth $39,000 after purchasing an additional 844 shares during the last quarter. Mpwm Advisory Solutions LLC bought a new position in Schlumberger in the 4th quarter worth about $40,000. Finally, J.Safra Asset Management Corp purchased a new stake in Schlumberger during the 4th quarter valued at about $46,000. Hedge funds and other institutional investors own 81.99% of the company’s stock.

Schlumberger Stock Up 1.9%

Schlumberger stock opened at $36.31 on Friday. Schlumberger Limited has a one year low of $31.11 and a one year high of $50.94. The stock has a fifty day moving average of $34.36 and a 200 day moving average of $38.38. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.11 and a current ratio of 1.45. The stock has a market cap of $49.38 billion, a PE ratio of 11.67, a price-to-earnings-growth ratio of 10.10 and a beta of 1.01.

Schlumberger (NYSE:SLB) last released its quarterly 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 net margin of 12.29% and a return on equity of 21.90%. The business had revenue of $8.49 billion for the quarter, compared to analysts’ expectations of $8.64 billion. During the same period in the previous year, the company earned $0.75 EPS. Schlumberger’s revenue for the quarter was down 2.5% compared to the same quarter last year. As a group, sell-side analysts predict that Schlumberger Limited will post 3.38 EPS for the current year.

Schlumberger Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 10th. Shareholders of record on Wednesday, June 4th will be issued a dividend of $0.285 per share. The ex-dividend date is Wednesday, June 4th. This represents a $1.14 dividend on an annualized basis and a yield of 3.14%. Schlumberger’s dividend payout ratio is currently 38.64%.

Insider Buying and Selling at Schlumberger

In other news, insider Aparna Raman sold 25,133 shares of the business’s stock in a transaction on Friday, March 28th. The shares were sold at an average price of $42.28, for a total transaction of $1,062,623.24. Following the completion of the sale, the insider now owns 31,031 shares of the company’s stock, valued at $1,311,990.68. The trade was a 44.75% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director La Chevardiere Patrick De sold 5,000 shares of the company’s stock in a transaction 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 sale, the director now owns 23,525 shares of the company’s stock, valued at $789,969.50. This trade represents a 17.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.26% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on SLB shares. Jefferies Financial Group reduced their price objective on shares of Schlumberger from $60.00 to $59.00 and set a “buy” rating for the company in a research note on Thursday, March 27th. Susquehanna cut their price target on shares of Schlumberger from $48.00 to $46.00 and set a “positive” rating on the stock in a report on Monday, April 28th. Piper Sandler decreased their price objective on shares of Schlumberger from $46.00 to $44.00 and set a “neutral” rating for the company in a report on Tuesday, April 29th. Barclays lowered their price objective on Schlumberger from $53.00 to $48.00 and set an “overweight” rating on the stock in a research report on Friday, April 25th. Finally, Wells Fargo & Company reduced their target price on Schlumberger from $46.00 to $43.00 and set an “overweight” rating for the company in a report on Thursday, June 5th. Four equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $52.38.

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.