AMF Tjanstepension AB Decreases Stake in Schlumberger Limited $SLB

Key Points

• AMF Tjanstepension AB reduced its stake in Schlumberger Limited by 28.9% during the second quarter, now holding around 904,153 shares valued at approximately $30.67 million.
• Analysts have adjusted price targets for Schlumberger, with JPMorgan lowering its target from $46.00 to $44.00, while Melius initiated coverage with a $82.00 target.
• Schlumberger has announced a quarterly dividend of $0.285 per share, representing an annual yield of 3.3%, to be paid on October 9th.

AMF Tjanstepension AB lessened its position in shares of Schlumberger Limited (NYSE:SLB - Free Report) by 28.9% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 904,153 shares of the oil and gas company's stock after selling 367,814 shares during the quarter. AMF Tjanstepension AB owned about 0.07% of Schlumberger worth $30,670,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the company. First Command Advisory Services Inc. boosted its position in shares of Schlumberger by 300.0% during 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 acquiring an additional 477 shares during the last quarter. Atlas Capital Advisors Inc. bought a new stake in Schlumberger in the first quarter worth $33,000. Alpine Bank Wealth Management purchased a new stake in Schlumberger during the first quarter valued at $34,000. Atticus Wealth Management LLC bought a new position in Schlumberger during the second quarter valued at $29,000. Finally, Park Square Financial Group LLC purchased a new position in shares of Schlumberger in the 1st quarter worth $38,000. Institutional investors own 81.99% of the company's stock.

Analysts Set New Price Targets

Several analysts have recently issued reports on SLB shares. JPMorgan Chase & Co. decreased their target price on shares of Schlumberger from $46.00 to $44.00 and set an "overweight" rating on the stock in a research report on Monday, June 30th. Melius began coverage on Schlumberger in a research note on Wednesday, August 20th. They set a "buy" rating and a $82.00 price objective on the stock. Stifel Nicolaus decreased their price objective on Schlumberger from $54.00 to $52.00 and set a "buy" rating on the stock in a research report on Wednesday, July 16th. Barclays lowered their price objective on Schlumberger from $47.00 to $46.00 and set an "overweight" rating for the company in a research note on Monday, July 21st. Finally, UBS Group cut their target price on Schlumberger from $45.00 to $44.00 and set a "buy" rating on the stock in a research report on Wednesday, August 20th. Two research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat.com, Schlumberger presently has a consensus rating of "Moderate Buy" and a consensus target price of $52.18.

Insider Activity at Schlumberger

In other news, insider Dianne B. Ralston sold 39,727 shares of Schlumberger stock in a transaction that occurred on Friday, September 12th. The shares were sold at an average price of $36.08, for a total transaction of $1,433,350.16. Following the completion of the sale, the insider owned 202,201 shares of the company's stock, valued at approximately $7,295,412.08. The trade was a 16.42% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.22% of the company's stock.

Schlumberger Price Performance

SLB opened at $34.26 on Friday. The business has a fifty day moving average of $34.63 and a 200 day moving average of $35.19. The stock has a market cap of $51.17 billion, a P/E ratio of 11.73, a PEG ratio of 9.47 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 Limited has a 52-week low of $31.11 and a 52-week high of $46.15.

Schlumberger (NYSE:SLB - Get Free Report) last released its earnings results on Friday, July 18th. The oil and gas company reported $0.74 earnings per share for the quarter, topping the consensus estimate 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 revenue for the quarter was down 6.5% compared to the same quarter last year. During the same period last year, the company earned $0.85 earnings per share. As a group, sell-side analysts anticipate that Schlumberger Limited will post 3.38 EPS for the current year.

Schlumberger Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 9th. Shareholders of record on Wednesday, September 3rd will be paid a $0.285 dividend. This represents a $1.14 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date is Wednesday, September 3rd. Schlumberger's dividend payout ratio is currently 39.04%.

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.

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