AEGON ASSET MANAGEMENT UK Plc Raises Holdings in Schlumberger Limited $SLB

Key Points

• AEGON ASSET MANAGEMENT UK Plc increased its holdings in Schlumberger Limited by 47.8%, owning 1,063,633 shares valued at approximately $35.9 million as of its latest SEC filing.
• Schlumberger reported $0.74 EPS for the last quarter, exceeding the consensus estimate by $0.01, despite a 6.5% year-over-year decline in revenue.
• The company declared a quarterly dividend of $0.285 per share, yielding 3.5%, with a payout ratio of 39.04% as of the most recent announcement.

AEGON ASSET MANAGEMENT UK Plc increased its position in shares of Schlumberger Limited (NYSE:SLB - Free Report) by 47.8% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,063,633 shares of the oil and gas company's stock after purchasing an additional 343,906 shares during the quarter. AEGON ASSET MANAGEMENT UK Plc owned approximately 0.08% of Schlumberger worth $35,919,000 as of its most recent filing with the SEC.

Other large investors have also recently made changes to their positions in the company. First Command Advisory Services Inc. grew its holdings in Schlumberger by 300.0% in the 1st quarter. First Command Advisory Services Inc. now owns 636 shares of the oil and gas company's stock valued at $27,000 after buying an additional 477 shares in the last quarter. Atticus Wealth Management LLC purchased a new stake in Schlumberger in the 2nd quarter valued at $29,000. Atlas Capital Advisors Inc. purchased a new stake in Schlumberger in the 1st quarter valued at $33,000. Thurston Springer Miller Herd & Titak Inc. grew its holdings in Schlumberger by 55.3% in the 2nd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 983 shares of the oil and gas company's stock valued at $33,000 after buying an additional 350 shares in the last quarter. Finally, Alpine Bank Wealth Management purchased a new stake in Schlumberger in the 1st quarter valued at $34,000. 81.99% of the stock is currently owned by hedge funds and other institutional investors.

Schlumberger Stock Performance

Shares of Schlumberger stock opened at $32.55 on Wednesday. Schlumberger Limited has a 52 week low of $31.11 and a 52 week high of $44.97. The business's fifty day simple moving average is $34.50 and its 200-day simple moving average is $34.73. The firm has a market cap of $48.62 billion, a PE ratio of 11.15, a price-to-earnings-growth ratio of 8.97 and a beta of 0.97. 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 earnings results on Friday, July 18th. The oil and gas company reported $0.74 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to analyst estimates of $8.51 billion. During the same quarter in the prior year, the company earned $0.85 EPS. Schlumberger's revenue was down 6.5% on a year-over-year basis. Equities analysts forecast that Schlumberger Limited will post 3.38 earnings per share for the current year.

Schlumberger Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, October 9th. Investors of record on Wednesday, September 3rd were paid a dividend of $0.285 per share. The ex-dividend date of this dividend was Wednesday, September 3rd. This represents a $1.14 annualized dividend and a yield of 3.5%. Schlumberger's dividend payout ratio is presently 39.04%.

Insider Transactions at Schlumberger

In related news, insider Dianne B. Ralston sold 39,727 shares of the stock in a transaction dated Friday, September 12th. The stock was sold at an average price of $36.08, for a total transaction of $1,433,350.16. Following the transaction, the insider owned 202,201 shares of the company's stock, valued at approximately $7,295,412.08. This represents a 16.42% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.22% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on SLB shares. Jefferies Financial Group dropped their target price on Schlumberger from $54.00 to $53.00 and set a "buy" rating for the company in a report on Thursday, June 26th. Susquehanna dropped their target price on Schlumberger from $44.00 to $42.00 and set a "positive" rating for the company in a report on Monday, July 21st. Weiss Ratings restated a "hold (c-)" rating on shares of Schlumberger in a report on Wednesday, October 8th. UBS Group decreased their price target on Schlumberger from $45.00 to $44.00 and set a "buy" rating on the stock in a research note on Wednesday, August 20th. Finally, Stifel Nicolaus decreased 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. Two investment analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $52.06.

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.

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