Intellectus Partners LLC Buys 2,411 Shares of Schlumberger Limited (NYSE:SLB)

Intellectus Partners LLC increased its position in shares of Schlumberger Limited (NYSE:SLB) by 41.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 8,288 shares of the oil and gas company’s stock after acquiring an additional 2,411 shares during the quarter. Intellectus Partners LLC’s holdings in Schlumberger were worth $349,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of SLB. Norges Bank bought a new position in shares of Schlumberger during the fourth quarter worth $735,398,000. Price T Rowe Associates Inc. MD raised its stake in 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 worth $2,913,312,000 after buying an additional 5,225,828 shares during the period. Lazard Asset Management LLC lifted its holdings in Schlumberger by 3,112.1% during the fourth quarter. Lazard Asset Management LLC now owns 3,627,051 shares of the oil and gas company’s stock worth $139,059,000 after acquiring an additional 3,514,134 shares in the last quarter. Deutsche Bank AG grew its stake in Schlumberger by 12.2% in the fourth 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 acquiring an additional 3,119,543 shares during the period. Finally, Clearbridge Investments LLC grew its stake in Schlumberger by 43,028.0% in the fourth quarter. Clearbridge Investments LLC now owns 2,652,804 shares of the oil and gas company’s stock valued at $101,708,000 after acquiring an additional 2,646,653 shares during the period. Institutional investors and hedge funds own 81.99% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently weighed in on SLB. Barclays cut their price objective on Schlumberger from $53.00 to $48.00 and set an “overweight” rating on the stock in a report on Friday, April 25th. Jefferies Financial Group cut their price target on shares of Schlumberger from $60.00 to $59.00 and set a “buy” rating on the stock in a research note on Thursday, March 27th. Stifel Nicolaus lowered their price objective on shares of Schlumberger from $58.00 to $54.00 and set a “buy” rating for the company in a research report on Monday, April 28th. Susquehanna dropped their price objective 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. Finally, Piper Sandler reduced their target price on shares of Schlumberger from $46.00 to $44.00 and set a “neutral” rating for the company in a research note on Tuesday, April 29th. Four equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Schlumberger has an average rating of “Moderate Buy” and a consensus price target of $52.38.

Schlumberger Price Performance

NYSE:SLB opened at $33.87 on Friday. Schlumberger Limited has a 52-week low of $31.11 and a 52-week high of $50.94. The company has a market cap of $46.07 billion, a P/E ratio of 10.89, a P/E/G ratio of 10.10 and a beta of 1.06. 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’s 50-day simple moving average is $34.44 and its 200 day simple moving average is $38.67.

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

Schlumberger Dividend Announcement

The company 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. The ex-dividend date is Wednesday, June 4th. This represents a $1.14 dividend on an annualized basis and a yield of 3.37%. Schlumberger’s payout ratio is 38.64%.

Insiders Place Their Bets

In other Schlumberger 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 sale, the director now owns 23,525 shares in the company, valued at $789,969.50. This represents a 17.53% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Aparna Raman sold 25,133 shares of the business’s stock in a transaction that occurred on Friday, March 28th. The stock was sold at an average price of $42.28, for a total value of $1,062,623.24. Following the transaction, the insider now directly owns 31,031 shares in the company, valued at $1,311,990.68. The trade was a 44.75% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.26% of the company’s stock.

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.