Advisors Asset Management Inc. Has $4.75 Million Stock Holdings in Schlumberger Limited $SLB

Key Points

• Advisors Asset Management Inc. reduced its stake in Schlumberger Limited by 9.9% in Q1, now holding 113,737 shares valued at $4.75 million.
• Schlumberger's recent earnings reported $0.74 EPS, slightly exceeding analysts' estimates, but revenue fell 6.5% year-over-year.
• The company announced a quarterly dividend of $0.285 per share, resulting in an annualized yield of 3.2% as it continues to maintain a 39.04% dividend payout ratio.

Advisors Asset Management Inc. lowered its stake in shares of Schlumberger Limited (NYSE:SLB - Free Report) by 9.9% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 113,737 shares of the oil and gas company's stock after selling 12,550 shares during the quarter. Advisors Asset Management Inc.'s holdings in Schlumberger were worth $4,754,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of SLB. Charles Schwab Investment Management Inc. lifted its stake in Schlumberger by 478.8% during the first quarter. Charles Schwab Investment Management Inc. now owns 47,719,476 shares of the oil and gas company's stock worth $1,994,674,000 after purchasing an additional 39,474,501 shares during the last quarter. Boston Partners boosted its stake in shares of Schlumberger by 27.7% in the 1st quarter. Boston Partners now owns 19,829,381 shares of the oil and gas company's stock valued at $824,160,000 after purchasing an additional 4,300,222 shares in the last quarter. Hotchkis & Wiley Capital Management LLC grew its holdings in shares of Schlumberger by 211.1% during the 1st quarter. Hotchkis & Wiley Capital Management LLC now owns 5,992,997 shares of the oil and gas company's stock valued at $250,507,000 after purchasing an additional 4,066,500 shares during the last quarter. Nuveen LLC acquired a new position in Schlumberger during the 1st quarter worth approximately $169,232,000. Finally, Lazard Asset Management LLC lifted its stake in Schlumberger by 3,112.1% in the 4th quarter. Lazard Asset Management LLC now owns 3,627,051 shares of the oil and gas company's stock valued at $139,059,000 after purchasing an additional 3,514,134 shares during the last quarter. Institutional investors and hedge funds own 81.99% of the company's stock.

Schlumberger Stock Down 0.6%

Shares of Schlumberger stock traded down $0.21 during trading on Friday, reaching $35.81. 13,436,375 shares of the company traded hands, compared to its average volume of 12,279,266. The firm has a market capitalization of $48.38 billion, a PE ratio of 12.26, a P/E/G ratio of 9.94 and a beta of 1.05. Schlumberger Limited has a 1-year low of $31.11 and a 1-year high of $46.15. The company has a 50 day moving average price of $34.75 and a 200-day moving average price of $35.95. 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 posted its quarterly earnings results 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 net margin of 11.53% and a return on equity of 20.99%. The firm had revenue of $8.55 billion during the quarter, compared to the consensus estimate of $8.51 billion. During the same period in the previous year, the firm posted $0.85 earnings per share. The business's revenue was down 6.5% compared to the same quarter last year. As a group, equities research analysts expect that Schlumberger Limited will post 3.38 earnings per share for the current fiscal year.

Schlumberger Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 9th. Investors of record on Wednesday, September 3rd will be paid 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 of this dividend is Wednesday, September 3rd. Schlumberger's dividend payout ratio is 39.04%.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on SLB. Melius Research initiated coverage on shares of Schlumberger in a research note on Wednesday, August 20th. They set a "buy" rating and a $82.00 target price on the stock. Wells Fargo & Company cut Schlumberger from a "strong-buy" rating to a "hold" rating in a report on Sunday, July 20th. Atb Cap Markets upgraded shares of Schlumberger from a "hold" rating to a "strong-buy" rating in a report on Tuesday, July 1st. UBS Group reduced their target price on shares of Schlumberger from $45.00 to $44.00 and set a "buy" rating on the stock in a report on Wednesday, August 20th. Finally, Morgan Stanley decreased their price objective on Schlumberger from $50.00 to $45.00 and set an "overweight" rating for the company in a report on Friday, May 16th. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, Schlumberger has an average rating of "Moderate Buy" and a consensus price target of $52.86.

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.