Allstate Corp Has $2.36 Million Stock Holdings in Schlumberger Limited $SLB

Key Points

• Allstate Corp increased its holdings in Schlumberger Limited by 33.6% in Q1, bringing the total value of its investment to $2.36 million.
• Schlumberger reported a quarterly earnings per share (EPS) of $0.74, slightly above analysts' estimates, despite a 6.5% year-over-year revenue decline.
• The company declared a quarterly dividend of $0.285 per share, equating to an annual yield of 3.2%, to be paid on October 9th.

Allstate Corp increased its position in shares of Schlumberger Limited (NYSE:SLB - Free Report) by 33.6% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 56,459 shares of the oil and gas company's stock after buying an additional 14,203 shares during the quarter. Allstate Corp's holdings in Schlumberger were worth $2,360,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Compound Planning Inc. raised its position in shares of Schlumberger by 15.8% during the first quarter. Compound Planning Inc. now owns 12,534 shares of the oil and gas company's stock worth $524,000 after purchasing an additional 1,711 shares during the period. Ameriprise Financial Inc. increased its stake in Schlumberger by 1.1% during the 1st quarter. Ameriprise Financial Inc. now owns 2,194,141 shares of the oil and gas company's stock valued at $91,779,000 after purchasing an additional 22,976 shares in the last quarter. Norinchukin Bank The raised its holdings in Schlumberger by 19.2% during the first quarter. Norinchukin Bank The now owns 99,365 shares of the oil and gas company's stock worth $4,153,000 after buying an additional 15,991 shares during the last quarter. CW Advisors LLC lifted its stake in shares of Schlumberger by 22.6% in the first quarter. CW Advisors LLC now owns 33,590 shares of the oil and gas company's stock valued at $1,404,000 after buying an additional 6,190 shares in the last quarter. Finally, United Asset Strategies Inc. lifted its stake in shares of Schlumberger by 18.5% in the first quarter. United Asset Strategies Inc. now owns 22,051 shares of the oil and gas company's stock valued at $922,000 after buying an additional 3,442 shares in the last quarter. Institutional investors and hedge funds own 81.99% of the company's stock.

Schlumberger Stock Performance

Shares of Schlumberger stock opened at $35.5750 on Friday. The business's fifty day simple moving average is $34.51 and its 200 day simple moving average is $36.36. The company has a current ratio of 1.31, a quick ratio of 0.98 and a debt-to-equity ratio of 0.51. Schlumberger Limited has a 12 month low of $31.11 and a 12 month high of $46.16. The firm has a market capitalization of $48.07 billion, a P/E ratio of 12.18, a price-to-earnings-growth ratio of 9.38 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 (EPS) for the quarter, beating analysts' consensus estimates 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 the consensus estimate of $8.51 billion. During the same quarter in the prior year, the company earned $0.85 EPS. The business's revenue for the quarter was down 6.5% on a year-over-year basis. As a group, analysts anticipate that Schlumberger Limited will post 3.38 EPS for the current year.

Schlumberger Dividend Announcement

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 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 dividend payout ratio (DPR) is 39.04%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on SLB shares. Jefferies Financial Group lowered their target price on shares of 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 target price on Schlumberger from $50.00 to $45.00 and set an "overweight" rating on the stock in a report on Friday, May 16th. Atb Cap Markets upgraded Schlumberger from a "hold" rating to a "strong-buy" rating in a report on Tuesday, July 1st. Melius began coverage on Schlumberger in a research note on Wednesday. They set a "buy" rating and a $82.00 price objective on the stock. Finally, Barclays cut their price objective on shares of Schlumberger from $47.00 to $46.00 and set an "overweight" rating on the stock in a report on Monday, July 21st. Two analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and four have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, Schlumberger has a consensus rating of "Moderate Buy" and an average 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.

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