Ameriprise Financial Inc. Boosts Holdings in Schlumberger Limited $SLB

Key Points

• Ameriprise Financial Inc. increased its stake in Schlumberger Limited by 1.1% during Q1, owning a total of 2,194,141 shares worth approximately $91.78 million.
• Schlumberger reported Q2 earnings of $0.74 EPS, surpassing analysts' expectations, while quarterly revenue decreased by 6.5% compared to the previous year.
• The company declared a quarterly dividend of $0.285 per share, which represents an annual yield of 3.2% and will be paid to shareholders on October 9th.

Ameriprise Financial Inc. lifted its stake in Schlumberger Limited (NYSE:SLB - Free Report) by 1.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,194,141 shares of the oil and gas company's stock after purchasing an additional 22,976 shares during the quarter. Ameriprise Financial Inc. owned 0.16% of Schlumberger worth $91,779,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently modified their holdings of the stock. Vident Advisory LLC raised its position in shares of Schlumberger by 1.0% in the 4th quarter. Vident Advisory LLC now owns 27,838 shares of the oil and gas company's stock worth $1,067,000 after purchasing an additional 273 shares during the last quarter. Glen Eagle Advisors LLC raised its position in shares of Schlumberger by 3.7% in the 4th quarter. Glen Eagle Advisors LLC now owns 7,843 shares of the oil and gas company's stock worth $301,000 after purchasing an additional 282 shares during the last quarter. EntryPoint Capital LLC raised its position in shares of Schlumberger by 4.5% in the 1st quarter. EntryPoint Capital LLC now owns 7,348 shares of the oil and gas company's stock worth $307,000 after purchasing an additional 316 shares during the last quarter. Heritage Wealth Management Inc. Texas raised its position in shares of Schlumberger by 2.2% in the 1st 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. Finally, Wahed Invest LLC raised its position in shares of Schlumberger by 0.9% in the 4th quarter. Wahed Invest LLC now owns 35,022 shares of the oil and gas company's stock worth $1,343,000 after purchasing an additional 319 shares during the last quarter. Hedge funds and other institutional investors own 81.99% of the company's stock.

Schlumberger Trading Up 0.2%

Schlumberger stock opened at $35.67 on Tuesday. The business has a 50-day simple moving average of $34.51 and a two-hundred day simple moving average of $36.27. The company has a market cap of $48.20 billion, a P/E ratio of 12.22, a P/E/G ratio of 9.88 and a beta of 1.03. Schlumberger Limited has a 52-week low of $31.11 and a 52-week high of $46.16. 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 released its quarterly earnings results 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. The business had revenue of $8.55 billion during 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%.The business's quarterly revenue was down 6.5% compared to the same quarter last year. During the same period in the previous year, the company posted $0.85 EPS. Analysts predict that Schlumberger Limited will post 3.38 EPS for the current year.

Schlumberger Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 9th. Shareholders 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 dividend yield of 3.2%. The ex-dividend date is Wednesday, September 3rd. Schlumberger's payout ratio is currently 39.04%.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. JPMorgan Chase & Co. reduced their price objective on Schlumberger from $46.00 to $44.00 and set an "overweight" rating for the company in a report on Monday, June 30th. UBS Group reduced their price objective on Schlumberger from $45.00 to $44.00 and set a "buy" rating for the company in a report on Wednesday, August 20th. Wells Fargo & Company downgraded Schlumberger from a "strong-buy" rating to a "hold" rating in a report on Sunday, July 20th. Susquehanna reduced their price objective on Schlumberger from $44.00 to $42.00 and set a "positive" rating for the company in a report on Monday, July 21st. Finally, Melius Research assumed coverage on Schlumberger in a report on Wednesday, August 20th. They issued a "buy" rating and a $82.00 price objective for the company. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and four have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently 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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