Stamos Capital Partners L.P. Purchases New Holdings in Schlumberger Limited (NYSE:SLB)

Stamos Capital Partners L.P. acquired a new position in Schlumberger Limited (NYSE:SLB - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 73,810 shares of the oil and gas company's stock, valued at approximately $2,830,000.

Other hedge funds also recently modified their holdings of the company. Norges Bank purchased a new position in shares of Schlumberger in the 4th quarter worth approximately $735,398,000. Pacer Advisors Inc. increased its stake in shares of Schlumberger by 12,289.6% during the 4th quarter. Pacer Advisors Inc. now owns 13,043,359 shares of the oil and gas company's stock worth $500,082,000 after purchasing an additional 12,938,082 shares during the last quarter. Clearbridge Investments LLC lifted its position in shares of Schlumberger by 43,028.0% during the 4th quarter. Clearbridge Investments LLC now owns 2,652,804 shares of the oil and gas company's stock valued at $101,708,000 after buying an additional 2,646,653 shares during the last quarter. Franklin Resources Inc. boosted its position in Schlumberger by 12.4% during the fourth quarter. Franklin Resources Inc. now owns 15,396,967 shares of the oil and gas company's stock worth $590,320,000 after purchasing an additional 1,700,203 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its holdings in Schlumberger by 196.9% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 2,312,304 shares of the oil and gas company's stock worth $88,654,000 after buying an additional 1,533,366 shares during the period. Hedge funds and other institutional investors own 81.99% of the company's stock.

Analysts Set New Price Targets

SLB has been the topic of a number of recent research reports. JPMorgan Chase & Co. increased their price objective on Schlumberger from $48.00 to $50.00 and gave the stock an "overweight" rating in a report on Tuesday, January 21st. Stifel Nicolaus decreased their price objective on shares of Schlumberger from $59.00 to $58.00 and set a "buy" rating on the stock in a research report on Tuesday. Barclays reduced their price objective on Schlumberger from $54.00 to $53.00 and set an "overweight" rating on the stock in a research report on Monday, March 31st. Wells Fargo & Company upgraded Schlumberger from an "equal weight" rating to an "overweight" rating and decreased their price objective for the stock from $46.00 to $44.00 in a report on Tuesday, April 8th. Finally, Piper Sandler began coverage on shares of Schlumberger in a research report on Thursday, December 19th. They issued a "neutral" rating and a $47.00 price objective on the stock. Five 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 company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $54.15.

Schlumberger Stock Up 2.8 %

Schlumberger stock traded up $0.94 during midday trading on Friday, reaching $35.09. The company's stock had a trading volume of 15,915,644 shares, compared to its average volume of 13,057,693. Schlumberger Limited has a 52-week low of $31.11 and a 52-week high of $51.77. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.45 and a quick ratio of 1.11. The stock has a market capitalization of $47.72 billion, a P/E ratio of 11.28, a PEG ratio of 10.10 and a beta of 1.11. The stock's 50-day simple moving average is $39.48 and its 200-day simple moving average is $40.83.

Schlumberger (NYSE:SLB - Get Free Report) last posted its quarterly earnings results on Friday, January 17th. The oil and gas company reported $0.92 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.90 by $0.02. Schlumberger had a net margin of 12.29% and a return on equity of 21.90%. The business had revenue of $9.28 billion during the quarter, compared to analysts' expectations of $9.24 billion. During the same quarter last year, the company posted $0.86 earnings per share. The business's quarterly revenue was up 3.3% on a year-over-year basis. On average, sell-side analysts expect that Schlumberger Limited will post 3.38 EPS for the current year.

Insiders Place Their Bets

In related news, EVP Abdellah Merad sold 60,000 shares of the firm's stock in a transaction on Wednesday, January 29th. The shares were sold at an average price of $41.44, for a total transaction of $2,486,400.00. Following the completion of the transaction, the executive vice president now owns 210,502 shares of the company's stock, valued at $8,723,202.88. This trade represents a 22.18 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Ugo Prechner sold 7,000 shares of the stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $44.20, for a total value of $309,400.00. Following the sale, the vice president now directly owns 11,240 shares in the company, valued at $496,808. This represents a 38.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 315,905 shares of company stock valued at $13,609,283. 0.26% of the stock is owned by company insiders.

About Schlumberger

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.