AMF Tjanstepension AB Has $53.24 Million Holdings in Schlumberger Limited (NYSE:SLB)

Key Points

• AMF Tjanstepension AB reduced its stake in Schlumberger Limited by 5.0%, owning 1,271,967 shares valued at approximately $53.24 million after the sale.
• The company recently announced a quarterly dividend of $0.285, with a dividend yield of 3.5%, payable on October 9th to investors of record on September 3rd.
• Schlumberger reported earnings of $0.74 per share for its last quarter, surpassing analysts' expectations, despite a 6.5% decline in revenue year-over-year.

AMF Tjanstepension AB lowered its stake in shares of Schlumberger Limited (NYSE:SLB - Free Report) by 5.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,271,967 shares of the oil and gas company's stock after selling 66,409 shares during the quarter. AMF Tjanstepension AB owned about 0.09% of Schlumberger worth $53,239,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Scharf Investments LLC increased its position in Schlumberger by 20.5% during the first quarter. Scharf Investments LLC now owns 1,653,895 shares of the oil and gas company's stock worth $69,133,000 after acquiring an additional 281,773 shares during the period. Integrated Advisors Network LLC increased its holdings in Schlumberger by 810.4% in the 1st quarter. Integrated Advisors Network LLC now owns 75,163 shares of the oil and gas company's stock valued at $3,142,000 after buying an additional 66,907 shares during the period. Alan B Lancz & Associates Inc. bought a new stake in Schlumberger in the 1st quarter valued at $308,000. Stratos Investment Management LLC increased its holdings in Schlumberger by 236.0% in the 1st quarter. Stratos Investment Management LLC now owns 146,908 shares of the oil and gas company's stock valued at $6,141,000 after buying an additional 103,182 shares during the period. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in Schlumberger in the 4th quarter valued at $56,507,000. Institutional investors own 81.99% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on SLB shares. Barclays lowered their price target 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. Stifel Nicolaus lowered their price target on shares of Schlumberger from $54.00 to $52.00 and set a "buy" rating on the stock in a report on Wednesday, July 16th. UBS Group boosted their price target on shares of Schlumberger from $44.00 to $45.00 and gave the company a "buy" rating in a report on Wednesday, July 2nd. Atb Cap Markets raised shares of Schlumberger from a "hold" rating to a "strong-buy" rating in a report on Tuesday, July 1st. Finally, JPMorgan Chase & Co. lowered their price target on shares of Schlumberger from $46.00 to $44.00 and set an "overweight" rating on the stock in a report on Monday, June 30th. Four research analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $49.28.

Schlumberger Price Performance

NYSE SLB traded up $0.11 on Friday, hitting $32.90. 10,215,438 shares of the company were exchanged, compared to its average volume of 19,141,180. The firm has a 50 day moving average of $34.72 and a two-hundred day moving average of $36.87. The company has a market cap of $44.46 billion, a P/E ratio of 11.27, a P/E/G ratio of 9.12 and a beta of 1.03. 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 1-year low of $31.11 and a 1-year high of $46.16.

Schlumberger (NYSE:SLB - Get Free Report) last issued its quarterly 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. The business had revenue of $8.55 billion for the quarter, compared to the consensus estimate of $8.51 billion. Schlumberger had a net margin of 11.53% and a return on equity of 20.99%. The firm's quarterly revenue was down 6.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.85 EPS. On average, equities analysts predict that Schlumberger Limited will post 3.38 EPS for the current year.

Schlumberger Announces Dividend

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

Insider Transactions at Schlumberger

In related news, Director La Chevardiere Patrick De sold 5,000 shares of the company's stock in a transaction dated Thursday, May 22nd. The shares were sold at an average price of $33.58, for a total transaction of $167,900.00. Following the transaction, the director owned 23,525 shares in the company, valued at $789,969.50. This represents a 17.53% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.26% of the stock is currently owned by company insiders.

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.