9,444 Shares in Schlumberger Limited $SLB Bought by SCS Capital Management LLC

Key Points

• SCS Capital Management LLC acquired a new stake in Schlumberger Limited by purchasing 9,444 shares valued at approximately $398,000.
• Recent price adjustments from analysts reflect a mixed outlook, with UBS lowering their target price to $44, while Melius Research set a new target of $82.
• Schlumberger announced a quarterly dividend of $0.285, which will be paid on October 9th, representing an annual yield of 3.2%.

SCS Capital Management LLC bought a new stake in shares of Schlumberger Limited (NYSE:SLB - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 9,444 shares of the oil and gas company's stock, valued at approximately $398,000.

Other institutional investors have also recently added to or reduced their stakes in the company. First Command Advisory Services Inc. increased its stake in Schlumberger by 300.0% during the first quarter. First Command Advisory Services Inc. now owns 636 shares of the oil and gas company's stock valued at $27,000 after purchasing an additional 477 shares during the last quarter. Atlas Capital Advisors Inc. bought a new stake in Schlumberger during the first quarter valued at $33,000. Alpine Bank Wealth Management bought a new stake in Schlumberger during the first quarter valued at $34,000. Park Square Financial Group LLC bought a new stake in Schlumberger during the first quarter valued at $38,000. Finally, N.E.W. Advisory Services LLC bought a new stake in Schlumberger during the first quarter valued at $40,000. Institutional investors own 81.99% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on SLB. UBS Group lowered their target price on shares of Schlumberger from $45.00 to $44.00 and set a "buy" rating for the company in a research note on Wednesday, August 20th. Melius Research began coverage on shares of Schlumberger in a report on Wednesday, August 20th. They set a "buy" rating and a $82.00 price target for the company. Stifel Nicolaus reduced their price target on shares of Schlumberger from $54.00 to $52.00 and set a "buy" rating for the company in a report on Wednesday, July 16th. Atb Cap Markets raised shares of Schlumberger from a "hold" rating to a "strong-buy" rating in a report on Tuesday, July 1st. Finally, Piper Sandler reduced their price target on shares of Schlumberger from $44.00 to $42.00 and set a "neutral" rating for the company in a report on Friday, July 18th. Two research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, Schlumberger presently has a consensus rating of "Moderate Buy" and a consensus target price of $52.86.

Schlumberger Stock Performance

SLB stock opened at $36.00 on Friday. The company has a market capitalization of $53.77 billion, a P/E ratio of 12.33, a PEG ratio of 10.03 and a beta of 1.05. The company has a 50-day simple moving average of $34.82 and a 200 day simple moving average of $35.82. Schlumberger Limited has a fifty-two week low of $31.11 and a fifty-two week high of $46.15. The company has a quick ratio of 0.98, a current ratio of 1.31 and a debt-to-equity ratio of 0.51.

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

Schlumberger Announces Dividend

The business 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. The ex-dividend date of this dividend is Wednesday, September 3rd. This represents a $1.14 annualized dividend and a yield of 3.2%. Schlumberger's dividend payout ratio is presently 39.04%.

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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