Retirement Planning Co of New England Inc. Makes New $413,000 Investment in Schlumberger Limited $SLB

Key Points

• Retirement Planning Co of New England Inc. purchased 9,883 shares of Schlumberger Limited for approximately $413,000 in the first quarter, indicating growing interest in the oil and gas company.
• Schlumberger's latest earnings report showed a > quarterly revenue of $8.55 billion, beating analyst expectations, although its earnings per share have declined from the previous year.
• The company announced a quarterly dividend of $0.285 per share, reflecting a dividend yield of 3.1% and a payout ratio of 39.04%.

Retirement Planning Co of New England Inc. acquired a new stake in Schlumberger Limited (NYSE:SLB - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 9,883 shares of the oil and gas company's stock, valued at approximately $413,000.

A number of other hedge funds have also made changes to their positions in the business. DRW Securities LLC purchased a new position in shares of Schlumberger in the 1st quarter valued at about $255,000. Twin Tree Management LP grew its stake in Schlumberger by 766.9% during the 1st quarter. Twin Tree Management LP now owns 13,870 shares of the oil and gas company's stock worth $580,000 after buying an additional 12,270 shares during the last quarter. Baird Financial Group Inc. grew its stake in Schlumberger by 5.4% during the 1st quarter. Baird Financial Group Inc. now owns 336,031 shares of the oil and gas company's stock worth $14,046,000 after buying an additional 17,230 shares during the last quarter. Palogic Value Management L.P. grew its stake in Schlumberger by 9.4% during the 1st quarter. Palogic Value Management L.P. now owns 36,597 shares of the oil and gas company's stock worth $1,530,000 after buying an additional 3,155 shares during the last quarter. Finally, Vident Advisory LLC grew its stake in Schlumberger by 49.3% during the 1st quarter. Vident Advisory LLC now owns 41,571 shares of the oil and gas company's stock worth $1,738,000 after buying an additional 13,733 shares during the last quarter. Hedge funds and other institutional investors own 81.99% of the company's stock.

Schlumberger Price Performance

SLB traded up $0.99 on Thursday, hitting $35.99. 12,329,353 shares of the company were exchanged, compared to its average volume of 16,168,477. The business's fifty day moving average is $34.67 and its 200 day moving average is $36.08. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.98 and a current ratio of 1.31. The firm has a market capitalization of $48.64 billion, a P/E ratio of 12.33, a price-to-earnings-growth ratio of 10.22 and a beta of 1.05. Schlumberger Limited has a fifty-two week low of $31.11 and a fifty-two week high of $46.15.

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

Schlumberger Dividend Announcement

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

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on SLB shares. Melius Research started coverage on Schlumberger in a research note on Wednesday, August 20th. They set a "buy" rating and a $82.00 price target on the stock. Stifel Nicolaus dropped their price target on Schlumberger from $54.00 to $52.00 and set a "buy" rating on the stock in a research note on Wednesday, July 16th. UBS Group lowered their target price on Schlumberger from $45.00 to $44.00 and set a "buy" rating on the stock in a research note on Wednesday, August 20th. Melius initiated coverage on Schlumberger in a research note on Wednesday, August 20th. They issued a "buy" rating and a $82.00 target price on the stock. Finally, Barclays lowered their target price on Schlumberger from $47.00 to $46.00 and set an "overweight" rating on the stock in a research note on Monday, July 21st. Two analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and four have assigned a Hold rating to the company's stock. According to MarketBeat, Schlumberger has an average rating of "Moderate Buy" and an average target price of $52.86.

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.