Schlumberger Limited (NYSE:SLB) Shares Purchased by TruNorth Capital Management LLC

TruNorth Capital Management LLC boosted its holdings in Schlumberger Limited (NYSE:SLB) by 1,276.7% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,239 shares of the oil and gas company’s stock after buying an additional 1,149 shares during the quarter. TruNorth Capital Management LLC’s holdings in Schlumberger were worth $52,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in SLB. Alpine Bank Wealth Management acquired a new position in Schlumberger in the 1st quarter worth approximately $34,000. Park Square Financial Group LLC acquired a new position in Schlumberger in the 1st quarter worth approximately $38,000. Sound Income Strategies LLC boosted its stake in Schlumberger by 265.4% in the 1st quarter. Sound Income Strategies LLC now owns 961 shares of the oil and gas company’s stock worth $40,000 after purchasing an additional 698 shares during the period. True Wealth Design LLC boosted its stake in 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 period. Finally, Mpwm Advisory Solutions LLC acquired a new position in Schlumberger in the 4th quarter worth approximately $40,000. Institutional investors and hedge funds own 81.99% of the company’s stock.

Analyst Upgrades and Downgrades

SLB has been the subject of a number of recent analyst reports. Barclays decreased their price objective on shares of Schlumberger from $48.00 to $47.00 and set an “overweight” rating for the company in a research note on Thursday. Morgan Stanley decreased their target price on shares of Schlumberger from $50.00 to $45.00 and set an “overweight” rating for the company in a research note on Friday, May 16th. Susquehanna decreased their target price on shares of Schlumberger from $46.00 to $44.00 and set a “positive” rating for the company in a research note on Tuesday, July 1st. Atb Cap Markets raised shares of Schlumberger from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, July 1st. Finally, UBS Group lifted their target price on shares of Schlumberger from $44.00 to $45.00 and gave the company a “buy” rating in a research note on Wednesday, July 2nd. Three equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, Schlumberger currently has a consensus rating of “Moderate Buy” and a consensus target price of $50.79.

Insider Buying and Selling

In related news, Director La Chevardiere Patrick De sold 5,000 shares of Schlumberger stock in a transaction on Thursday, May 22nd. The shares were sold at an average price of $33.58, for a total value of $167,900.00. Following the transaction, the director owned 23,525 shares in the company, valued at $789,969.50. This trade represents a 17.53% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.26% of the stock is owned by company insiders.

Schlumberger Stock Up 1.9%

SLB stock opened at $37.35 on Monday. The firm has a market cap of $50.80 billion, a PE ratio of 12.66, a PEG ratio of 9.93 and a beta of 1.01. Schlumberger Limited has a 1 year low of $31.11 and a 1 year high of $50.94. The company has a current ratio of 1.24, a quick ratio of 0.93 and a debt-to-equity ratio of 0.51. The company has a fifty day simple moving average of $34.77 and a 200 day simple moving average of $37.64.

Schlumberger (NYSE:SLB) last announced 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). The firm had revenue of $8.49 billion during the quarter, compared to the consensus estimate of $8.64 billion. Schlumberger had a return on equity of 21.76% and a net margin of 11.62%. The business’s revenue was down 2.5% compared to the same quarter last year. During the same quarter last year, the business earned $0.75 EPS. Sell-side analysts anticipate 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 was paid on Thursday, July 10th. Investors of record on Wednesday, June 4th were issued a $0.285 dividend. The ex-dividend date was Wednesday, June 4th. This represents a $1.14 annualized dividend and a yield of 3.05%. Schlumberger’s dividend payout ratio (DPR) is presently 38.64%.

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.