Retirement Planning Co of New England Inc. Invests $413,000 in Schlumberger Limited (NYSE:SLB)

Retirement Planning Co of New England Inc. acquired a new stake in Schlumberger Limited (NYSE:SLB) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 9,883 shares of the oil and gas company’s stock, valued at approximately $413,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Brighton Jones LLC raised its stake in Schlumberger by 21.4% during the 4th quarter. Brighton Jones LLC now owns 6,611 shares of the oil and gas company’s stock valued at $253,000 after acquiring an additional 1,166 shares in the last quarter. Proficio Capital Partners LLC acquired a new position in shares of Schlumberger during the fourth quarter valued at $209,000. Harbour Investments Inc. raised its stake in shares of Schlumberger by 24.3% during the fourth quarter. Harbour Investments Inc. now owns 2,904 shares of the oil and gas company’s stock valued at $111,000 after purchasing an additional 567 shares in the last quarter. Horizon Investments LLC lifted its holdings in Schlumberger by 3.1% in the fourth quarter. Horizon Investments LLC now owns 22,303 shares of the oil and gas company’s stock worth $849,000 after purchasing an additional 671 shares during the period. Finally, Xponance Inc. grew its position in Schlumberger by 0.6% in the 4th quarter. Xponance Inc. now owns 200,700 shares of the oil and gas company’s stock valued at $7,695,000 after buying an additional 1,180 shares in the last quarter. Institutional investors own 81.99% of the company’s stock.

Insider Buying and Selling

In other news, Director La Chevardiere Patrick De sold 5,000 shares of the firm’s stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $33.58, for a total transaction of $167,900.00. Following the completion of the sale, the director directly owned 23,525 shares of the company’s stock, valued at $789,969.50. This trade represents a 17.53% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.26% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms have commented on SLB. Wells Fargo & Company dropped their price target on shares of Schlumberger from $46.00 to $43.00 and set an “overweight” rating on the stock in a research report on Thursday, June 5th. Stifel Nicolaus dropped their target price on Schlumberger from $54.00 to $52.00 and set a “buy” rating on the stock in a report on Wednesday. Piper Sandler decreased their price target on Schlumberger from $44.00 to $42.00 and set a “neutral” rating for the company in a research note on Friday. Susquehanna dropped 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, July 1st. Finally, UBS Group raised their target price on Schlumberger from $44.00 to $45.00 and gave the company a “buy” rating in a research note on Wednesday, July 2nd. Three research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $50.56.

Schlumberger Stock Performance

SLB stock opened at $34.69 on Friday. The firm has a 50 day simple moving average of $34.88 and a 200 day simple moving average of $37.56. 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 $47.19 billion, a P/E ratio of 11.76, a P/E/G ratio of 9.25 and a beta of 1.01. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.93 and a current ratio of 1.24.

Schlumberger (NYSE:SLB) last released its earnings results on Friday, July 18th. The oil and gas company reported $0.74 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.77 by ($0.03). Schlumberger had a return on equity of 21.76% and a net margin of 11.62%. During the same quarter in the previous year, the company posted $0.85 earnings per share. 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 disclosed a quarterly dividend, which will be paid on Thursday, October 9th. Investors of record on Wednesday, September 3rd will be given a dividend of $0.285 per share. This represents a $1.14 dividend on an annualized basis and a yield of 3.29%. Schlumberger’s payout ratio is 38.64%.

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.