4,048,605 Shares in Schlumberger Limited (NYSE:SLB) Purchased by Nuveen LLC

Key Points

• Nuveen LLC has acquired 4,048,605 shares of Schlumberger Limited (NYSE:SLB), valued at approximately $169.2 million, representing 0.30% of the company's stock.
• Schlumberger's recent quarterly earnings showed an EPS of $0.74, exceeding forecasts, although revenue was down 6.5% year-over-year.
• The company has announced a $0.285 quarterly dividend set to be paid on October 9th, with a yield of 3.5% and a dividend payout ratio of 39.04%.

Nuveen LLC purchased a new position in shares of Schlumberger Limited (NYSE:SLB - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 4,048,605 shares of the oil and gas company's stock, valued at approximately $169,232,000. Nuveen LLC owned 0.30% of Schlumberger as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also bought and sold shares of the company. Scharf Investments LLC increased its position in Schlumberger by 20.5% during the first quarter. Scharf Investments LLC now owns 1,653,895 shares of the oil and gas company's stock worth $69,133,000 after acquiring an additional 281,773 shares during the period. Integrated Advisors Network LLC increased its position in Schlumberger by 810.4% during the first quarter. Integrated Advisors Network LLC now owns 75,163 shares of the oil and gas company's stock worth $3,142,000 after acquiring an additional 66,907 shares during the period. Alan B Lancz & Associates Inc. bought a new position in Schlumberger during the first quarter worth about $308,000. Stratos Investment Management LLC increased its position in Schlumberger by 236.0% during the first quarter. Stratos Investment Management LLC now owns 146,908 shares of the oil and gas company's stock worth $6,141,000 after acquiring an additional 103,182 shares during the period. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in Schlumberger during the fourth quarter worth about $56,507,000. 81.99% of the stock is owned by institutional investors.

Schlumberger Stock Down 1.4%

Shares of NYSE SLB opened at $32.40 on Tuesday. The company has a 50 day simple moving average of $34.70 and a 200 day simple moving average of $36.77. The firm has a market cap of $43.78 billion, a PE ratio of 11.10, a price-to-earnings-growth ratio of 9.12 and a beta of 1.03. Schlumberger Limited has a 1 year low of $31.11 and a 1 year high of $46.16. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.31 and a quick ratio of 0.98.

Schlumberger (NYSE:SLB - Get Free Report) last issued its quarterly earnings data on Friday, July 18th. The oil and gas company reported $0.74 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.73 by $0.01. The business had revenue of $8.55 billion during the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same quarter last year, the business earned $0.85 EPS. On average, research analysts forecast that Schlumberger Limited will post 3.38 EPS for the current year.

Schlumberger Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 9th. Investors of record on Wednesday, September 3rd will be issued a $0.285 dividend. This represents a $1.14 dividend on an annualized basis and a yield of 3.5%. The ex-dividend date is Wednesday, September 3rd. Schlumberger's dividend payout ratio (DPR) is 39.04%.

Insider Transactions at Schlumberger

In related news, Director La Chevardiere Patrick De sold 5,000 shares of the firm'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 in the company, valued at $789,969.50. This trade represents a 17.53% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.26% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on SLB. Atb Cap Markets upgraded shares of Schlumberger from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, July 1st. Jefferies Financial Group reduced their price objective on shares of Schlumberger from $54.00 to $53.00 and set a "buy" rating on the stock in a research note on Thursday, June 26th. Wells Fargo & Company downgraded shares of Schlumberger from a "strong-buy" rating to a "hold" rating in a research note on Sunday, July 20th. Piper Sandler reduced their price objective on shares of Schlumberger from $44.00 to $42.00 and set a "neutral" rating on the stock in a research note on Friday, July 18th. Finally, Morgan Stanley reduced their price objective on shares of Schlumberger from $50.00 to $45.00 and set an "overweight" rating on the stock in a research note on Friday, May 16th. Four investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $49.28.

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.

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