Koss Olinger Consulting LLC Takes Position in Schlumberger Limited (NYSE:SLB)

Key Points

• Koss Olinger Consulting LLC acquired 24,318 shares of Schlumberger Limited, valued at approximately $1,016,000, during the first quarter of the year.
• Schlumberger reported earnings of $0.74 per share for the latest quarter, exceeding analysts' expectations and achieving a revenue of $8.55 billion, although down 6.5% year-over-year.
• The company announced a quarterly dividend of $0.285 per share, with a yield of 3.5%, set to be paid on October 9th.

Koss Olinger Consulting LLC bought a new stake in Schlumberger Limited (NYSE:SLB - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 24,318 shares of the oil and gas company's stock, valued at approximately $1,016,000.

Several other hedge funds and other institutional investors have also made changes to their positions in SLB. Brighton Jones LLC boosted its holdings in shares of Schlumberger by 21.4% in the fourth 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. Envestnet Asset Management Inc. boosted its holdings in shares of Schlumberger by 11.7% in the fourth quarter. Envestnet Asset Management Inc. now owns 1,258,554 shares of the oil and gas company's stock valued at $48,253,000 after acquiring an additional 131,586 shares in the last quarter. Invesco Ltd. boosted its holdings in shares of Schlumberger by 8.8% in the fourth quarter. Invesco Ltd. now owns 7,377,240 shares of the oil and gas company's stock valued at $282,843,000 after acquiring an additional 596,008 shares in the last quarter. Advisory Services Network LLC boosted its holdings in shares of Schlumberger by 15.3% in the fourth quarter. Advisory Services Network LLC now owns 72,977 shares of the oil and gas company's stock valued at $2,798,000 after acquiring an additional 9,672 shares in the last quarter. Finally, CenterBook Partners LP boosted its holdings in shares of Schlumberger by 91.6% in the fourth quarter. CenterBook Partners LP now owns 47,724 shares of the oil and gas company's stock valued at $1,830,000 after acquiring an additional 22,814 shares in the last quarter. Hedge funds and other institutional investors own 81.99% of the company's stock.

Schlumberger Price Performance

SLB traded up $0.11 during midday trading on Friday, reaching $32.90. 10,215,438 shares of the company's stock were exchanged, compared to its average volume of 19,085,280. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.31 and a quick ratio of 0.98. The stock has a market capitalization of $44.46 billion, a PE ratio of 11.27, a P/E/G ratio of 9.12 and a beta of 1.03. The business's 50-day moving average price is $34.72 and its 200 day moving average price is $36.84. Schlumberger Limited has a 1-year low of $31.11 and a 1-year high of $46.16.

Schlumberger (NYSE:SLB - Get Free Report) last announced its earnings results on Friday, July 18th. The oil and gas company reported $0.74 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.73 by $0.01. The company had revenue of $8.55 billion during the quarter, compared to analysts' expectations of $8.51 billion. Schlumberger had a net margin of 11.53% and a return on equity of 20.99%. The firm's quarterly revenue was down 6.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.85 earnings per share. As a group, equities analysts anticipate that Schlumberger Limited will post 3.38 EPS for the current fiscal year.

Schlumberger Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 9th. Shareholders of record on Wednesday, September 3rd will be given a dividend of $0.285 per share. The ex-dividend date is Wednesday, September 3rd. This represents a $1.14 dividend on an annualized basis and a yield of 3.5%. Schlumberger's payout ratio is presently 39.04%.

Wall Street Analyst Weigh In

SLB has been the topic of several analyst reports. Wells Fargo & Company downgraded shares of Schlumberger from a "strong-buy" rating to a "hold" rating in a report on Sunday, July 20th. Morgan Stanley decreased their price objective on shares of Schlumberger from $50.00 to $45.00 and set an "overweight" rating on the stock in a report on Friday, May 16th. Atb Cap Markets raised shares of Schlumberger from a "hold" rating to a "strong-buy" rating in a report on Tuesday, July 1st. Piper Sandler decreased their price objective on shares of Schlumberger from $44.00 to $42.00 and set a "neutral" rating on the stock in a report on Friday, July 18th. Finally, UBS Group boosted their price objective on shares of Schlumberger from $44.00 to $45.00 and gave the stock a "buy" rating in a report on Wednesday, July 2nd. Four investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $49.28.

Insider Transactions at Schlumberger

In other news, Director La Chevardiere Patrick De sold 5,000 shares of the business's stock in a transaction that occurred 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 completion of the transaction, the director owned 23,525 shares of the company's stock, valued at $789,969.50. The trade was a 17.53% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 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.