Aberdeen Group plc Has $66.11 Million Stock Position in Schlumberger Limited $SLB

Key Points

• Aberdeen Group plc reduced its stake in Schlumberger Limited by 43.8% in the first quarter, owning 1,574,245 shares valued at $66.11 million after selling 1,228,224 shares.
• Schlumberger reported quarterly revenue of $8.55 billion, beating analysts' expectations of $8.51 billion, with earnings per share of $0.74.
• The company declared a quarterly dividend of $0.285 per share, representing a yield of 3.5% with a 39.04% dividend payout ratio.

Aberdeen Group plc cut its stake in shares of Schlumberger Limited (NYSE:SLB - Free Report) by 43.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,574,245 shares of the oil and gas company's stock after selling 1,228,224 shares during the quarter. Aberdeen Group plc owned 0.12% of Schlumberger worth $66,110,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the stock. Vident Advisory LLC raised its holdings in Schlumberger by 1.0% in the 4th quarter. Vident Advisory LLC now owns 27,838 shares of the oil and gas company's stock valued at $1,067,000 after acquiring an additional 273 shares in the last quarter. Glen Eagle Advisors LLC boosted its position in Schlumberger by 3.7% in the fourth quarter. Glen Eagle Advisors LLC now owns 7,843 shares of the oil and gas company's stock valued at $301,000 after buying an additional 282 shares in the last quarter. Heritage Wealth Management Inc. Texas grew its holdings in shares of Schlumberger by 2.2% during the first quarter. Heritage Wealth Management Inc. Texas now owns 14,736 shares of the oil and gas company's stock worth $616,000 after purchasing an additional 318 shares during the last quarter. Wahed Invest LLC increased its position in Schlumberger by 0.9% in the 4th quarter. Wahed Invest LLC now owns 35,022 shares of the oil and gas company's stock valued at $1,343,000 after acquiring an additional 319 shares in the last quarter. Finally, Horizon Investments LLC raised its position in Schlumberger by 1.5% in the 1st quarter. Horizon Investments LLC now owns 22,633 shares of the oil and gas company's stock worth $946,000 after purchasing an additional 330 shares during the last quarter. 81.99% of the stock is owned by hedge funds and other institutional investors.

Schlumberger Stock Performance

Schlumberger stock traded up $0.2650 during trading hours on Thursday, hitting $33.6250. The company had a trading volume of 2,590,088 shares, compared to its average volume of 16,186,647. Schlumberger Limited has a one year low of $31.11 and a one 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. The firm has a 50-day moving average of $34.56 and a 200 day moving average of $36.44. The firm has a market cap of $45.44 billion, a PE ratio of 11.52, a PEG ratio of 9.25 and a beta of 1.03.

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

Schlumberger Dividend Announcement

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 issued a dividend of $0.285 per share. This represents a $1.14 dividend on an annualized basis and a yield of 3.4%. The ex-dividend date of this dividend is Wednesday, September 3rd. Schlumberger's payout ratio is presently 39.04%.

Analyst Ratings Changes

Several research firms recently issued reports on SLB. Jefferies Financial Group decreased their price target on Schlumberger from $54.00 to $53.00 and set a "buy" rating on the stock in a report on Thursday, June 26th. Morgan Stanley dropped their price target on Schlumberger from $50.00 to $45.00 and set an "overweight" rating on the stock in a research report on Friday, May 16th. Stifel Nicolaus lowered their price objective on shares of Schlumberger from $54.00 to $52.00 and set a "buy" rating for the company in a research report on Wednesday, July 16th. Atb Cap Markets raised shares of Schlumberger from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, July 1st. Finally, Wells Fargo & Company downgraded Schlumberger from a "strong-buy" rating to a "hold" rating in a research note on Sunday, July 20th. Two research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $52.86.

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.